THE Bankers Committee is set to introduce a consumer credit scheme that would pave the way for bank customers in Nigeria to enjoy consumer credits for the financing of household goods and other welfare enhancing packages as obtains in developed countries. The scheme is to begin between June and July this year.

Meanwhile, the total operating cost of banks in the country fell to N1 trillion last year from N1.6 trilion in 2011. These were part of the highlights of the first Bankers Committee meeting held in Abuja yesterday. The Committee comprises chief executives of bank, and management of the Central Bank of Nigeria, CBN, and the Nigeria Deposit Insurance Corporation, NDIC.

Addressing  a joint press conference at the end of the meeting by the Group Managing Directors and Chief Executive Officers of : Access Bank, Mr. Aig Imoukhodue; Zenith Bank, Mr. Godwin Emiefele; Stanbic IBTC Bank, Mr.Yinka Sani on the one hand and the Director of Banking Supervision of the Central Bank of Nigeria, CBN, Ms. Tokunbo Martins and the Director of Corporate Communications of the CBN, Mr. Ugo Okarafor on the other hand, the Committee explained that arrangements have already been concluded by a  Technical Committee set up on the consumer credit product scheme which has already traverse four continents to draw international best practices of the consumer credit scheme.

To ensure the success of the scheme and check against risk, an MOU between the Bankers’ Committee and an IT firms is to be signed shortly for a biometric Identity Management projects for all bank customers which would provide a data base which is currently not available and which has prevented banks from advancing consumer credit in the country.

On the bank charges, the Committee announced that another committee has been set up to review downward charges by banks as a way of spurring bank users, pointing out for instance that the Cost of Transaction, COT, charges has already been reduced from five naira to three naira only.

The positive development, the Committee explained was as a result of the benefits of the Shared Services Scheme introduced by banks last year in the country which has reduced banks operating cost from N1.6 trillion in 2011 to N1 trillion by end December last year. Consequently, the Committee assured that as cost of operation declines bank charges too will moderately decline.