By Emma Ujah
Abuja – The Chairman of the Pentecostal Fellowship of Nigeria (PFN), Abuja Chapter, Reverend Isaac Oriakhi, has said the current situation in the banking industry required collective ideas, not panic if it must not degenerate into an entire industry crisis.
He counseled while fielding questions at a press conference in Abuja, at the weekend on the second Abuja Night of Power vigil to be led by the General Superintendent of the Deeper Christian Life Ministry, Pastor William Kumuyi.Â He spoke against the backdrop of the major shake up in five banks by the Central Bank of Nigeria on Friday, last week.
The minister observed that there was need for bank operators to be honest with their customers and investors but said panic withdrawal could only create more problems for the banks and the society as returning to the era of keeping money under pillows could not be contemplated.
â€œMy advice is that nobody should be panic over the news of distressed banks. If itâ€™s a general problem, it requires collective efforts of all stakeholders to arrest the situation.
I want to belief God that panic withdrawal of depositorâ€™s funds from the banks will not solve any problem.