LatestReviewsServices

Banks must deepen loan disbursement to customers — Tokunbo Martins, Director OFIS, CBN

0
deepen loan disbursement
Mr. Martins Tokunbo

The Director of Other Financial Institutions Supervision, at the Central Bank of Nigeria, Tokunbo Martins, says there’s need for commercial banks to deepen loan disbursement to viable applicants. He adds that an effective credit system will help boost the Nigerian economy.

The Director made the remarks at a Microlending Workshop which held at Sheraton Hotel, Ikeja. The workshop organised by EFInA (Enhancing Financial Innovation & Access) aims to educate stakeholders and facilitate financial inclusion in the country.

Highlighting the recent policies of the apex bank to stimulate compliance among banks to new regulations, Mr. Martins said, “We have a policy at the point of inspection to check if banks are duly serving the overall purpose of lending; and there are measures in place to determine if these banks should be penalised or advised, where they default”.

Meanwhile on the focus of the workshop, and the roles of Fintech, and commercial banks, he adds that Fintech has its own focus and the commercial banks have theirs. They both have ample space to thrive especially in the areas of providing saving and lending services to the teeming Nigerian population.

However, speaking about the purpose for the regulator’s participation in the workshop, the Director explained, “We are participating in this EFInA workshop to let the people know what the Central Bank, as a regulator, has done to provide adequate information for quality credit administration. This because we understand that when there is good credit, the economy will move forward”.

EFIna is an organisation devoted to the development of the financial sector. It works with Fintech, commercial banks and regulators to develop products and organise workshops that can boost financial inclusion.

CobraReview invites Readers, Product enthusiasts and consumers to send in their independent reviews of products/services and their experiences to editor@cobrareview.com for free and instant publication.

READ ALSO! MTN, Multichoice, Shoprite Asked To Quit Nigeria

READ ALSO! Prostate: What Many Men Don’t Know!

READ ALSO! Apple Set $1m Reward For Any Hacker Of Its iPhones, Macs

READ ALSO! CBN Rolls Out New Guidelines To Protect Depositors

READ ALSO! Engine Quality: Honda Orders Recall Of 222,674 Accord Sedans

Like us on facebook

Follow us on twitter

Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He has a PR and brand marketing background. He has worked previously at MarketingMix, IGW Entertainment (Germany), and BrandFootPrint. He managed the MTN Project Fame between 2012 and 2015. Toyin loves travelling, writing, reading; and he treasures integrity.

    Comments

    Leave a reply

    Your email address will not be published.

    You may also like

    More in Latest