The Chartered Institute of Bankers of Nigeria (CIBN) has urged the Senate to pass its proposed Act Bill, as President and Chairman of the Council, Ken Opara, revealed during a meeting with the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Sen. Adetokunbo Abiru.
The purpose of the visit was to discuss vital issues and initiatives impacting the banking and finance industry. Opara lauded the Committee’s support in reviewing existing laws in the financial sector and its efforts to address the country’s economic challenges.
“We commend the Institute for addressing the economic situation, leading to the discussion with the Governor of CBN on the state of the Economy, inflation, FX, IMTO, and the clarification on the 43 banned items, all of which are significant to the banking public.”
The Committee was also commended for the proactive comprehensive review of existing laws within the financial services sector to promote economic sustainability and growth. Additionally, the review of the 2024 budget of all Ministries, Departments, and Agencies (MDAs) under its supervision was praised, as was the continuous effort to ensure MDAs adhere to sound Corporate Governance principles.
These discussions followed the Senate Committee’s summoning of the governor of the Central Bank of Nigeria, Olayemi Cardoso, Minister of Finance Olawale Edun, and others, regarding the increasing hardship and free fall of Naira last week.
Posted in African Business News
