The Communique for 1st National Stakeholders Conference organised by the Association of Corporate Affairs Managers of Banks (ACAMB) in partnership with the Chartered Institute of Bankers of Nigeria (CIBN) that took place in Lagos on Wednesday August with the Theme: Promoting Synergy Between the Nigerian Banking Industry and Organised Private Sector (OPS).
According to the Communique issued at the end of the
conference sent to The Ameh News (TAN) which was endorsed jointly by Mr.
Rasheed Bolarinwa, the President, ACAMB for the Promoters and Dr Seye Awojobi,
the Registrar/CEO, CIBN Partners sated that stated that the objectives of the
Conference include; bridging the communication gaps between the two sectors,
and creating mutually-beneficial avenues for deepening the Nigerian economy.
The statement further stated that the conference was broadly
divided into three segments, namely: stakeholders’ presentations and speeches;
panel discussion by leaders of thoughts, and general contributions by the
audience. This approach brought out exhaustive discussions and interrogations
of key issues around the roles and importance of banking and OPS, the
constraints being faced by the sectors and the suggestions to improve the
mutually-beneficial relationships between the sectors.
The report disclosed that presentations were made by the
Presidents of the Chartered Institute of Bankers of Nigeria (CIBN); Nigerian
Association of Commerce, Industry, Mines and Agriculture (NACCIMA);
Manufacturers Association of Nigeria (MAN); Director Generals of Nigeria
Employers Consultative Association (NECA) – the Secretariat of OPS; Nigeria
Association of Small Scale Industrialists (NASSI), and the Central Bank of
Nigeria (CBN). The Panel discussion was moderated by respected Economist, Dr
‘Biodun Adedipe and included experts from the CBN, NASSI, LCCI, NASME, MAN,
NECA and NACCIMA.
CONFERENCE KEY POINTS AND DECISIONS*:
Stakeholders collectively agreed on the importance of
effective synergy and good working relationship between the banking industry
and the organised private sector given the critical roles of the two sectors in
overall national economic development.
The conference agreed to work with all stakeholders, going
forward, to create a more effective financing structure that ensures increased
accessibility to funding and governance of such inflows into the real sector.
A consultative Committee of experts and stakeholders drawn
from across the sectors and relevant agencies and institutions shall be
constituted for continuing and enduring dialogue between the banking sector and
the OPS in order to enhance funding and monitoring of the impact on the real
sector. Both ACAMB and CIBN will work together on this joint action-body.
The OPS should take advantage of specialised development
finance institutions created by government with active funding from CBN to
access affordable funding.
The CBN is opened to suggestions and feedback on its
programmes and banking operations from all stakeholders and the Apex Bank is
ever willing to further collaborate in addressing the issue of effective
funding of the OPS.
Both the banking sector and the OPS must put national
interest uppermost in their business relationships and avoid deliberate acts of
sabotage in the guise of transactions.
There is a need for fiscal policy measures to complement
current funding initiatives by the banking industry in support of the real
sector.
The more active and synergistic the relationship between
banking and private sector, the more the growth and development of the national
economy.
The CBN should increase foreign exchange allocation to the
real sector by restoring the priority window and dedicated access for
manufacturers while members of the OPS should repatriate forex to enable the
Apex Bank sustain its Forex management.
In order to foster greater understanding and knowledge of
operations of each sub-sector of the OPS, Deposit Money Banks (DMBs) should
develop in-house expertise through dedicated desks and requisite professionals
of key segments of the OPS.
ACAMB and CIBN should institutionalise the Conference
initiative, and ensure that subsequent editions are all inclusive of critical
players in the Nigerian Economy.
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