Business
Boost Investors’ Confidence In Banking -Ex-CBN Director
The former Director of Central Bank of Nigeria (CBN),Dr Titus Okunronmu on Monday urged the apex bank to adopt aggressive measures to boost investors’ confidence in the financial sector.
Okunronmu said in Lagos that the step would restore sanity to the industry.
“The banking industry was overheated by the recent financial crisis and it needs urgent attention to achieve meaningful development in the sector,’’ he said.
The financial expert said that there should be proper regulation and control of all the economic policies.
Okunronmu said that there should be a deliberate action by the apex bank to ensure that all necessary banking regulations and policies were strictly adhered to.
“The CBN also needs to monitor and constantly supervise the way loans are disbursed in the banking sector,” he said.
Okunronmu said that the era where managing directors of banks gave out loans to customers without collateral was over.
According to him, there should be check and balances on how loans are disbursed to customers.
Okunronmu said that the CBN should encourage the banks to go into real sector financing to boost the nation’s economy, adding that deliberate efforts should be made to reduce the interest rate on loans to encourage investors.
He urged CBN to encourage the extension of microfinance banks to serve the small and medium industries.
He said that the CBN’s cashless policy should be encouraged, adding that Nigerians should be enlightened on the advantages of the new policy.
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Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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