With the confirmation of the Governor of the Central Bank of Nigeria , Mr. Godwin Emefiele, for a second and final five-year term, by the Senate yesterday, some chief executive officers of financial institutions have hailed his reappointment and urged him to work towards having tougher regulations and stronger banks in the country.
“In terms of banking supervision and regulation, I want to see a situation whereby the central bank is more decisive in resolving banking crisis, such that when it becomes imperative that a particular weak institution should be allowed to exit the market, I believe the CBN should be decisive. But in all, we expect to see stronger regulation,” Chukwu explained.
He said: “The economic outlook remains positive, as this adds fillip to the continuity of current macro-economic policies initiated by the CBN governor. “I think he needs to make our banks stronger. What we need are stronger banks that can drive the developmental process in the country. We expect the CBN to guide the banks to cut down on the bad loans and also make them lend to the real sector. Banks should do less of trading in treasury bills and focus on supporting critical sectors of the economy,” Obaniyi added.
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