Nigerian Banks still strong: Governor

1-9922340

The third quarterly meetings of the Board of Directors of the African Export-Import Bank (Afreximbank) ended in Lagos, Nigeria, with Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), telling the members that the country’s banks remained strong.

In a special presentation to the Board Members, Mr. Emefiele outlined the measures the CBN and Nigeria had put in place to address the problem of foreign exchange scarcity in the country, saying that although some unpopular policies had been implemented, they were already yielding results.

He gave assurance that the CBN would work with Afreximbank to ensure that there were no challenges in the Bank’s operations in Nigeria, saying that Nigeria remained a profitable investment destination.

Also in a separate session, Nnamdi Okonkwo, Managing Director of Fidelity Bank PLC, and Olakunle Alake, Chief Operating Officer of Dangote Industries Limited, addressed the Board of Directors on their operations and the impacts of the current economic situation in Nigeria.

Welcoming the guests, Afreximbank President Dr. Benedict Oramah has expressed the Bank’s appreciation for the opportunity to hear directly from some of the most important actors in the Nigerian economy. According to him, a strong Nigeria also means a strong Africa.

The third quarterly meetings, which ended with the 110th Meeting of the Board of Directors, had opened on 23 September with a session of the Executive Committee, followed by those of the Branch Management Committee, the Audit/Risk Committee and the Remunerations Committee.

On 22 September, President Oramah led the Board Members on a tour of the petroleum refinery and fertiliser plant under construction by Dangote Industries Limited in the Lekki Free Trade Zone of Lagos. The delegation also visited the headquarters of Arik Air, where Company Chairman Joseph Aruremi-Ikhide said that the airline had become the largest in the West and Central Africa region through a strong focus on service quality and safety.