Planned banks’ recapitalisation will improve lending to manufacturers: Ex- MAN boss
Ex-Chairman, Manufacturers Association of Nigeria, Ogun chapter, Dr Wale Adegbite, has said the planned banks’ recapitalisation by the Central Bank of Nigeria will improve lending to the manufacturing sector.
Mr Adegbite said this while speaking on Tuesday in Ota, Ogun State.
He spoke on the CBN pronouncement that it was planning to implement a fresh banking recapitalisation in line with the anticipated $1 trillion economy by 2030.
The CBN Governor, Mr Olayemi Cardoso, had said on Friday that the apex bank was planning a fresh recapitalisation for commercial banks.
Mr Cardoso announced the plan at the 58th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria in Lagos.
In his comment, the ex-MAN chairman said the decision of the CBN to raise the capital base of Deposit Money Banks would make more loans available to the manufacturers.
He said, “Any policy introduced by the apex bank to increase the capacity of banks will improve lending to the manufacturing sector is a welcome development.”
He said this would help manufacturers to boost productivity through provision of machineries from abroad.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Niger: Police rescue two suspected phone thieves from mob
He identified the suspects as Hassan Abdullahi, 20, and Khalifa Bashir, 22.
Heading 5
Court of Appeal nullifies Electoral Act provisions on parties’ primary election, membership register
Zenith Party argued that the disputed Electoral Act provisions unlawfully interfered with the internal affairs of political parties.
Lagos
Governor Sanwo-Olu inaugurates climate investment fund
Mr Sanwo-Olu described the fund as a landmark intervention.
States
Judiciary partners revenue board to boost IGR in Taraba
Mr Agya commended the service for its reforms.
NationWide
NRC reaffirms police partnership to protect rail assets
Mr Opeifa described the nation’s railway infrastructure as critical national assets that must be safeguarded.
