Ayeyemi tasks the banking sector on development of Nigeria’s economy
The Chief Executive Officer of Ecobank Transnational Incorporated (ETI), Ade Ayeyemi says it is important for Nigerian bankers to work together to ensure that the banking industry does its bit to support the development of Nigerian economy. Ayeyemi who was responding to media questions during the conferment of Honorary Fellow on himself and some astute bankers by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, noted that there was also need to build the capacity of bankers to be able to understand what needs to be done and to support the Nigerian government in doing the right things.
He added that the nation’s economy was not growing as much as it should and banks need to be able to participate by lending to the economy to grow and also to support the governor of the Central Bank of Nigeria to succeed in driving monetary policies for economic growth.
In his words: “People that borrow need to pay back, because when they don’t pay back, they make it difficult for the bank to continue to lend in the future. They are taking away those opportunities of young people who are entitled to financial institutions to lend to them. Those people who have borrowed need to pay back so that people who are coming behind them will have the same opportunity.”
Ayeyemi further noted that the prospects and opportunities for the Nigerian economy to get to the peak were very bright, adding that the country has a large population, a large market, and an intelligent workforce needed to convert those opportunities to real outcomes.
He contended that “any money that is denied or not paid back on time, was money denied permanently; just like justice delayed is justice denied”.
The CIBN had conferred Honorary Fellow on successful Nigerians in the banking industry both locally and internationally and the recipients include Professor Benedict Oramah, President, Africa Export-Import Bank (AFREXIM); Mrs. Ibukun Awosika, Chairman of First Bank Nigeria Limited; Dr Mahmoud Isa-Dutse, Permanent Secretary, Federal Ministry of Finance; Mrs. Osaretin Demuren, Chairman of Guaranty Trust Bank Plc; Mr. Ade Ayeyemi, CEO, Ecobank Transnational Incorporated (ETI); Mr. Abba Bello, MD Nigeria Export – Import Bank (NEXIM), and Mr. Bakary Jammeh, Governor of the Central Bank of the Gambia amongst others.
Photo caption – L-R: Chief Emeka Anyaoku, chairman of event; uche Olowu president and chairman of council CIBN; Ade Ayeyemi, CEO Ecobank Transnational Incorporated and Seye Awojobi Registrar CIBN during the conferment of Honorary Fellow of the CIBN on Ayeyemi.
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