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Banking reforms: I’ll do it again, says Sanusi

By Naomi Uzor
The Governor of the Central Bank of Nigeria, CBN, Mr. Lamido Sanusi, Thursday, said he does not have any regrets over the decisions he took on the banking reforms, adding that he will do it again if he had the chance.

Speaking at the second business environment roundtable organised by the Lagos Chamber of Commerce and Industry,  LCCI, Sanusi said Nigeria is the only country in the world where there is no guidelines on how things should be properly done and that CBN would sell any bank if it would create room to feature faceless names.Sanusi said the banks will still give loans, but there will be guidelines to it which every bank now knows the guidelines and that loans will be given to those who go through the normal procedures.

He disclosed that N40 billion had been deposited in the agric fund, adding that another N500bn had been set aside, of which N300bn is for the power sector, while N200bn is for SMEs.

He said he strongly believed that the reform will not fail, as expected by most shareholders, as he claims that the road-map for the programme was a product of detailed study by the CBN and external facilitators to diagnose and come up with ways to help solve the problem.


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