Tinubu Urges Banks to Drive Economic Growth at CIBN

At the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) held in Abuja, President Bola Tinubu challenged Nigerian banks to extend their roles beyond balance-sheet expansion and profitability. He urged them to deploy more capital towards productive businesses that can foster investment, job creation, and economic growth.

Represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, Tinubu stressed that the ongoing reforms should translate macroeconomic stability into tangible benefits such as improved living standards. Central Bank of Nigeria Governor, Mr. Olayemi Cardoso, supported this view, stating that a strong banking sector is crucial for sustainable economic recovery.

World Bank Country Director for Nigeria, Mr. Mathew Verghis, also called on banks to redirect capital from government securities to businesses that create jobs. The conference's theme was “Building a Resilient Economy in an Era of Disruptions: Strategic Imperatives for the Banking and Financial Services Industry.”.