Banks and OPS to reflect on synergy for economic growth

The Organized Private Sector (OPS) will engage with Nigerian banks next month to address critical areas of concern and strategies to create sustainable synergy between the financial services industry and other businesses.

They will meet at the first National Stakeholder Conference on Synergy between the Nigerian Banking Sector and the Organized Private Sector (OPS), leading financiers; economic experts and industry leaders who will offer lasting solutions to the ongoing discord between the banking industry and OPS.

Organized by the Association of Directors of Corporate Affairs of Banks (ACAMB), the conference would bring together top players from both sides to act as a think tank for the country’s macroeconomic growth.

Speaking ahead of the event scheduled for August 3, 2022, ACAMB Chairman Mr. Rasheed Bolarinwa said the Nigerian economy would be the main beneficiary of the conference as far-reaching strategies would be taken to harness emerging economic benefits through expected synergy.

“The Organized Private Sector is a valued player in the banking sector. The banking sector and the organized private sector both play a major role in the growth of the economy. The need for the two sectors to work closely together cannot be overstated. ACAMB is therefore reaching out to ensure the participation of relevant speakers at the conference,” Bolarinwa said.

The Managing Director and Registrar of the Chartered Institute of Bankers of Nigeria (CIBN), Dr Seye Awojobi, also speaking on the upcoming conference, said the main objective of the event was to bring together major sectors for the benefit of the national economy.

According to him, the conference will correct any perceived misunderstanding between the two sectors that would be critically examined to propose common ground that can foster understanding and progress.

The Governor of the Central Bank of Nigeria (CBN) is expected to be the keynote speaker, as the Presidents of the Chartered Institute of Bankers of Nigeria (CIBN), NACCIMA and Manufacturers Association of Nigeria (MAN) will also speak at the event. .

“Constant engagement and communication are at the heart of creating synergy for cooperation and collaboration. An excellent mutual relationship between the banking sector and the organized private sector will promote the desired sustainable growth and development of the economy. This in turn would allow both groups to compete effectively in regional and international markets,” Bolarinwa said.

He added that the upcoming ACAMB conference should chart the way towards areas of effective collaboration for the growth of the national economy in this difficult time.

“The conference provides a unique platform for private sector players and the banking community to share their views on how synergy, communication, cooperation and mutual understanding between these two critical segments of the economy can be improved to benefit the Nigerian people and economy gradually.

“At the end of the session, we expect a strong statement that will provide a roadmap for a new relationship between the bank and PAHO,” Bolarinwa said.

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