2021: FUNDING, FOREX TOP STAKEHOLDERS’ EXPECTATIONS OF BANKS, CBN

Written by on January 5, 2021

ACCESS TO FINANCE, AVAILABILITY OF FOREIGN EXCHANGE (FOREX) AND PUBLIC-PRIVATE PARTNERSHIP (PPP) SEEM TO BE THE PRIORITIES OF STAKEHOLDERS AS THE COUNTRY OPENS FOR BUSINESS THIS NEW YEAR.

THESE ARE AMONG THE ISSUES THEY EXPECT INTERVENTIONS FROM BOTH THE COMMERCIAL BANKS AND THE CENTRAL BANK OF NIGERIA (CBN) TO ENHANCE OPERATING ENVIRONMENT.

FOR INSTANCE, DR TIMOTHY OLAWALE, THE DIRECTOR GENERAL OF THE NIGERIA EMPLOYERS’ CONSULTATIVE ASSOCIATION (NECA), WHO PRAISED THE CBN FOR ENCOURAGING LENDING TO THE REAL SECTOR OF THE ECONOMY, SAID THERE SHOULD BE CLOSE MONITORING OF ITS NUMEROUS INTERVENTION FUNDS TO EASE ITS STRINGENT CONDITIONS.

ACCORDING TO HIM, STAKEHOLDERS ARE STILL FINDING ACCESS TO THE FUNDS DIFFICULT. HE ALSO CAUTIONED THE BANKS AGAINST TAKING STEPS THAT COULD RAISE THE LEVEL OF NON-PERFORMING LOANS(NPLS) SO AS TO AVOID CRUMBLING THE FINANCIAL INSTITUTIONS.


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