The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) says it foresees improved lending to small and medium scale enterprises by banks in the country in the next five years.
President of the association, Comrade Sunday Salako, said his projection was premised on the ongoing revolution in the nation’s banking sector.
Salako, who spoke at the weekend in Ibadan, Oyo state, at the National Executive Council (NEC)meeting of ASSIBIFI, said improved lending to the SMEs would go a long way in growing the nation’s economy and reduce mass poverty in the land.
He said: “Banks would be able to give short and long term loans to small and medium scale enterprises to grow and reduce unemployment in the next five years. I see banking as a veritable tool to grow the economy.”
Salako also implored the Central Bank of Nigeria to evolve policies aimed at giving human face to the nation’s banking sector.
He said his union would continue to act as watchdog of the financial institutions with a view to protecting the interest of his members.
He emphasised the need for staff of banks and financial institutions in Nigeria who are yet to join the union to do so in order to collectively fight the unjust practices of some of the labour employers in the country.