Bankers promise easy access to credit in 2022

Nigerian banks under the umbrella of the bankers’ committee have assured that access to credit will be made a lot easier next year to help grow the Gross Domestic Product(GDP) of the country.

Rising from a two-day retreat in Lagos, the committee’s chairman and governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele said “members, therefore, seize this opportunity to inform Nigeria and Nigerians that it is an opportunity for us to begin to think about how to reset our economy, how to make our economy self-sustaining.”

According to him, the banks will do whatever can be done to make access to credit easy for those who want to really develop the economy in the manufacturing sector, the agricultural sector, micro small, and medium scale enterprise businesses.

He added that the committee felt that there is a need to ensure that the financial system is resilient enough to be able to give the needed support for the growth of the Nigerian economy.

The CBN governor said that it is only when the output of GDP exceeds population growth that “we can begin to say that our citizens can begin to experience prosperity.”

The objective of the retreat, he said, is to do a final recap of all the issues that happened in the banking industry and the economy last year and to begin to think about how to proceed for 2022.

He said that for the members to beat their chest and say that there is sustainable inclusive growth in the country, the banks, working with the government, must do everything possible to diversify the Nigerian economy and do anything possible to reduce the rate of unemployment in the country

“We will do everything possible to reduce the rate of poverty in our country. Believing that if we are able to diversify the economy, believing that if we are able to reduce unemployment and poverty in the country, then we can beat our chest and begin to say that we have a country that is secure,” he emphasized.

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