The Nigerian Affiliation of Chambers of Commerce, Trade, Mines and Agriculture is taking a cautious and analytical strategy to the Central Financial institution of Nigeria’s new pointers on the recapitalisation of banks within the nation.
In a press release made accessible to PUNCH On-line on Monday, the affiliation mentioned it can have interaction with related stakeholders and await the entire coverage framework’s launch earlier than formulating a complete response.
Within the assertion addressing the CBN’s directive to boost Tier 1 and Tier 2 banks’ capital bases to N500bn and N200bn respectively, NACCIMA Nationwide President, Dele Oye, emphasised the necessity for prudence and thorough evaluation given the coverage shift’s significance inside the banking sector and its potential macroeconomic implications.
“It’s crucial to spotlight NACCIMA’s strategy to this matter as one among warning, prudence, and thorough evaluation.
“As such, we intend to have interaction in consultations with our stakeholders and await the disclosure of the entire coverage framework from the CBN and the federal government,” Oye mentioned.
He acknowledged the significance of sustaining a sturdy banking system whereas expressing the affiliation’s incapacity to supply a complete commentary with out entry to the complete particulars and context surrounding the CBN’s choice.
“NACCIMA acknowledges the importance of this coverage shift inside the banking sector and its potential implications on the broader macroeconomic panorama,” he mentioned.
He added, “Whereas recognising the significance of sustaining a sturdy banking system, we’re at the moment unable to supply a complete commentary on the coverage with out entry to the complete particulars and context surrounding the CBN’s choice.”
Stressing NACCIMA’s dedication to safeguarding the pursuits of personal residents and selling the general public good, Oye said, “NACCIMA refrains from providing a definitive opinion on the coverage at this second till a radical understanding of the goals and implications are outlined by the regulatory authorities.”
The affiliation added that it stays dedicated to participating constructively with all related events to facilitate a nuanced and knowledgeable discourse on the crucial subject.
“Our organisation stands prepared to have interaction constructively with all related events to facilitate a nuanced and knowledgeable discourse on this crucial subject,” Oye concluded.
