By Emma Ujah, Abuja Bureau Chief
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.
The President spoke at the opening of the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, yesterday.
Represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, President Tinubu said banks must move beyond celebrating huge profits and shareholder dividends to financing productive sectors of the economy.
He said: “For years, we have measured financial institutions by balance-sheet growth, profitability and shareholder returns. These remain important. But we must increasingly ask: what is the financial system doing for the real economy?
