UBA MD Cautions Nigerians on Responsible Borrowing for Economic Progress

Oliver Alawuba, MD of UBA (NGX: UBA), warned Nigerians at a banking institute event in Lagos to view bank credit as an obligation, not free money. He stressed the importance of responsible borrowing to maintain a healthy financial system amidst Nigeria's economic challenges.

Alawuba highlighted the need for strong risk management and timely repayments to support economic growth. Despite recent economic uncertainties, he noted improvements in the banking sector with increased lending to millions of Nigerians.

Alawuba attributed this progress to renewed investor confidence and ongoing monetary and fiscal reforms.