The Central Bank of Nigeria (CBN) has acknowledged that the country is currently facing a financial and economic crisis.
At the 14th Annual Bankers’ Committee Retreat in Abuja, CBN Governor Yemi Cardoso highlighted that the current administration inherited this challenging situation. He emphasized that the role of the Bankers’ Committee is crucial in addressing the crisis and in efforts to reflate the economy.
Cardoso pointed out that Nigeria is grappling with numerous issues, including poverty, rising inflation, infrastructure deficits, insecurity, and unemployment. He urged members of the Bankers’ Committee to reflect on the past year’s challenges and work on actionable solutions to address them.
ALSO READ: US-CDC implements strategic framework to tackle GBV in Nigeria
Additionally, Tope Fasua, the Special Adviser to the President on Economic Affairs, raised concerns about excessive charges imposed by Point of Sale (PoS) operators. He called on both the CBN and commercial banks to ensure cash availability at all ATM points.
The three-day event, which brings together key players in the banking sector, is themed “Contract and Commitment to National Development and Economic Growth.”
