Breaking News

Bank MD urges FG to revive National Board for Community Banks

LOKOJA—Managing Director/Chief Executive Officer of Kogi Savings and Loans, Mr. Abdulaziz Suberu, has called on the Federal Government to revive the National Board for Community Banks to enable the micro finance institutions in the country deliver efficient services to the people.

Suberu spoke in an interview with newsmen, yesterday, in Lokoja, saying the scrapping of the board and the merging of all the community banks activities with the CBN department had weakened the activities of micro finance banks.

According to him, “for micro-finance banks to function properly and effectively, the Federal Government should revisit the scrapping of the board which statutory responsibility was to control the activities of the community banks in terms of regulation and legislation.

”The current situation and regulation do not favour community banks. The Federal Government has not helped matters because the type of regulations established for mega banks are extended to smaller banks and they cannot work because of their low financial strength,” he said.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.