Sanusi Lamido Sanusi, the governor of the Central Bank of Nigeria (CBN), has said that the banking system is stable and well positioned to stimulate growth and development of the Nigerian economy.
This was contained in a communiqué issued at the end of the 3rd Bankers’ Committee Annual Retreat held in Calabar, Cross Rivers State.
Theme of the retreat was: ‘Financial System Stability and Implication for Economic Development’.
“After two years of focused attention by the regulators and operators, the nation’s financial crisis is in the final lap of resolution,” the communiqué quoted him as saying.
Mr Sanusi said that in 2012, the banking industry agenda would address outstanding issues relating to the restoration of the balance sheet of banks.
The communiqué said Sanusi listed others to include entrenching corporate governance, avoiding build-up of non-performing loans and encouraging lending to the agriculture sector.
It quoted Sanusi as saying that the CBN was keen on increasing the impact of the banking system on the economy.
“This will be done by adopting a strategic approach to increase formal usage of financial services to 70 percent from the current level of 36 per cent of the Nigerian adult population,” it further quoted Sanusi.
It said that bankers, while commending President Goodluck Jonathan for his reform agenda aimed at creating jobs and growing the economy, said that the retreat resolved to impact the economy more positively.
The communiqué said that the committee on monetary and fiscal policy development advocated greater fiscal prudence and rationality in government expenditure.
It said that the committee supported the establishment of the sovereign wealth fund and its operation.
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