The Bankers' Committee yesterday said it was in support of the Central Bank of
Briefing the press at the end of the 316th meeting of the committee in
He said: "The current interest rate environment is not the most desirable. So where we are today and what I would consider the short to medium term is one in which interest rates are likely to stay where they are.
"But as the fundamentals are fixed and you deal with certain things like import substitution, you would start to see hopefully interest rates trending downwards."
Also, the Group Managing Director and Chief Executive,
He said going forward, power sector financing would be targeted at attaining the installed capacity of existing power assets rather than investing funds on new capacity.
Group Managing Director/Chief Executive,
He said the cash-lite programme, which is expected to be launched nationwide effective
He said: "The volume has increased and the number of transactions have continued to increase and the amount has continued to increase. To this effect, we have concluded that we are going to roll out nationwide beyond the various states we are operating right now."
According to him, about 10,000 customers are currently enrolled in the biometric system while the rollout for the customers started on Monday, adding that a massive rollout for other customers would soon begin in addition to the cash-lite programme.
He said the biometric system was a major leap towards the acceleration of economic development and would assist banks in improving consumer lending for people who had been excluded from the banking system.
In her remarks, CBN's Director,
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