.webp&w=256&q=75)
Loading banners
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
Governor David Umahi of Ebonyi State has challenged banks in Nigeria to create wealth rather than concentrate on acceptance of deposits.
Umahi made the call during an interactive meeting with the Financial Inclusion Strategy Implementation team of the Central Bank of Nigeria (CBN) atthe Government House, Abakaliki on Thursday.
The Governor, who was visibly unhappy over the bottlenecks and attitudes of some banks towardsgrantingloans to farmers called on theCBN to assist Ebonyi State attain its agricultural potential.
“We will not welcome you again unless you take positive steps to help ourstate. This state isnot wealthy in spite of the fact that wewere the first to give palm and cement to the country. But now, how many federal projects are on-going in this state? So, you have to help us,” he said in a statementon Fridayby his Chief Press Secretary, Emma Anya.
He added, “Banks generally havedegenerated to the issue of depositing money. Banks are not creating wealth in Nigeria. Can't banks come out withprogrammes that create wealth amongst the people? Let me give you an example,a bank can say, 'give me 13 people from Ebonyi Statethat we can take to China to learn how to make shoes and clothes. When such peoplereturn, you can thengive them N5 million eachto buy equipment and start production. Such people can start paying back with time but regrettably, banks are not doing so. They are not creating wealth in Nigeria. They are chasing deposits.”
Umahi said it was time for banks to start investing in people and help governments to tap their natural resources.
“We must invest in our people. Look at solid minerals scatteredeverywhere in Ebonyi State. Weare sittingon money andbanks have to come and help us exploitour God-given resources.”
Earlier in her remarks, the CBN branch Controllerin the state, Mrs. Obiekwe Obiageli, said they were inthe state to enlighten thegovernmenton the National Financial Inclusion Implementation Strategy.
She commendedUmahi for being a pacesetter in agric business in Nigeria, stressing that their visit was centered on how to make farmers in the state benefit fromthe bank's agric interventions.
The highpoint of the visit was the presentation of the National Financial Inclusion Implementation Strategy to the governor by the CBN team.
•Photo shows Governor Umahi (5th left) and CBN Branch Controller in Ebonyi State, Mrs. Obiekwe, with top government and CBN officials in the Government House, Abakalikion Thursday.
