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The Central Bank of Nigeria (CBN) has highlighted that the country continues to grapple with a severe financial and economic crisis.
Speaking at the 14th Annual Bankers’ Committee Retreat in Abuja, CBN Governor Yemi Cardoso attributed the ongoing challenges to the situation inherited by the current administration.
He emphasized the pivotal role of the Bankers’ Committee in addressing these issues and revitalizing the nation’s economy.
Cardoso outlined several pressing concerns, including widespread poverty, surging inflation, infrastructure deficits, insecurity, and rising unemployment.
He urged the committee to reflect on the setbacks of the past year and develop practical strategies to tackle these challenges.
Tope Fasua, the Special Adviser to the President on Economic Affairs, also raised concerns about excessive fees charged by Point of Sale (PoS) operators.
He called on the CBN and commercial banks to ensure sufficient cash availability at ATMs nationwide.
The three-day retreat, themed “Contract and Commitment to National Development and Economic Growth,” has brought together prominent stakeholders in the banking sector to strategize on solutions for Nigeria’s economic recovery.