Godwin Emefiele, governor of the Central Bank of Nigeria, advised banking sector executives to be ready to do things that would help Nigeria’s economic recovery.
Emefiele gave his advice at the 12th Annual Committee of Bankers Retreat, on the theme: âBuilding Resilience for Economic Growthâ.
It was held in Lagos on Tuesday.
Banking sector leaders needed to prepare to face and deal with the third or fourth wave of the COVID-19 pandemic, Emefiele said.
He said the retreat was an opportunity to find ways to strengthen and reposition the country for unforeseen challenges, even though today there were anticipated challenges.
Ge said, âScientists today weren’t able to tell us we’re going to be out of COVID-19; the virus will continue to mutate, we will continue to see different countries adopting measures to protect theirs, and in the midst of this, we as Nigerians, we God has put in our hands the leadership of this banking industry, we have to our kidneys and stand firm to see that we are doing the things that will help the recovery of our country.
âWe must aim not only for a rapid, balanced and sustainable recovery, but also to ensure that, through better access to finance, the fundamentals of our economy are strengthened. “
Emefiele sought their cooperation, stressing that despite admittedly difficult times, no challenge was insurmountable for the determined, cooperative and persevering.
Lagos State Governor Babajide Sanwo-Olu has urged the banking sector to focus its attention on small and medium-sized enterprises if it is to achieve sustainable growth.
Sanwo-Olu said, âThe best strategy for preparing future jobs and achieving sustainable growth and development is for us to pursue very effective economic diversification into what we see as small and medium enterprises.
âThe pandemic has given us the opportunity to focus our attention on critical sectors of the economy – agriculture, tourism and manufacturing etc. which will help us increase our GDP. “
Nigeria’s news agency reports that the two-day retreat ends on Wednesday.