Tinubu to Banks: Rethink risk, drive real economy, not just profits

…CIBN President says stronger indices must improve living standards…Nigeria’s credit bypassing job creators — World Bank…CBN: Recapitalisation reveals depth of local capital By Emma Ujah, Abuja Bureau Chief ABUJA — President Bola Tinubu has challenged Nigerian banks to rethink their approach to risk and play a more active role in driving economic growth and improving the welfare of Nigerians, insisting that strong profits alone are no longer enough.

Represented by the Deputy Governor in charge of Policy, Mr Philip Ikeazor, Cardoso challenged operators in the industry to take advantage of the capital now available to fund the real sectors of the economy and drive rapid growth that would improve the living standards of Nigerians.

Recapitalisation reveals depth of local capital — CBN In his goodwill message, the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, said the large capital raised by banks during the recapitalisation exercise indicated the depth of capital available locally.