Bankers call for all round socio-economic development
The institute on Friday declared that its forthcoming annual banking and finance conference tagged, ‘Upholding Professionalism in the Financial Services Industry: Supporting the Economy,’ would be focused on how to contribute to fast-tracking all round socio-economic development of the Nigerian economy.
Speaking at a media briefing in Lagos, the Chairman of the Committee for the 2013 CIBN conference, who is also the Group Managing Director, Zenith Bank Plc, Mr. Godwin Emefiele, said the two-day event would also commemorate the institute’s 50th anniversary.
According to him, the CIBN has continued to champion the need to enshrine best practices and ensure strong commitment to ethical and professional standards in order to ensure continuous confidence in the industry.
Emefiele said, “As bankers, we know that the financial services industry occupies a vital position in the development of Nigeria and the African economy as it facilitates economic growth and development.
“It is with this renewed vigour that the objective of the 7th annual banking and finance conference is set to maintain and sustain the positioning of the financial services industry as the bedrock of the Nigerian economy through the unrelenting advocacy for professionalism.”
The conference is divided into four sub-themes namely- the lessons and applications of the recent global financial meltdown for the financial services industry; the issues and challenges in positioning the Nigerian services industry for global competitiveness; the financial industry as a catalyst for financial inclusion in Nigeria and enhancing customers’ confidence and trust in the financial services industry.
The conference, according to the committee, will be declared open by President Goodluck Jonathan as the special guest of honour.
Also speaking, the Registrar, CIBN, Dr. Uju Ogubunka, said government had started giving attention to some of the recommendations made from its previous conferences such as- enactment of laws that support the banking industry, infrastructure enhancement, tax incentives issues amongst others.
He also disclosed that the recent increase in cash reserve requirement for public sector funds by the Central Bank of Nigeria was meant to reduce inflation.
“It means the price for credit might go up if the volume for credit goes up. If the demand for loan is on the increase, and banks are not having enough to give they will look for other ways of making funds available and the price for funds will definitely increase,” he added.
- The Punch
