Acting Managing Director of Guaranty Trust Bank, Mr Segun Agbaje, said he foresees normal banking activities resuming after the various reforms in the sector.

Agbaje, who spoke with journalists in Lagos said that the slow pace in bank lending was due to carefulness on the part of banks and customers. He said that banks were being careful in lending to ensure quality loans were given out while customers were also concerned about the kind of projects they invested borrowed funds on.

Agbaje said the banking industry was recovering from the financial crisis that rocked the financial sector globally in 2008 and which had ripple effects on Nigeria’s economy. He said that Nigerians would soon get used to CBN directive on cash withdrawals.

The GTBank acting Managing Director said that the bank had migrated to a new server called Superdome to enhance the quality of its service delivery and create alternative channels.

“The introduction of the cutting-edge technology is to ensure our customers can access banking service comparable with what is obtainable internationally. The bank has also introduced its mobile money product in partnership with MTN to the market,” he said.

The GTBank boss said the introduction was in pursuant to an approval-in-principle granted by the CBN for a pilot roll-out of mobile money services. Agbaje said that the mobile money partnership was a step further in bringing banking services closer to people, especially the unbanked, who he said, were more likely to have a cell phone than a bank account.