Economy

New naira: No bank will collapse – CIBN

By Web News 509

The Chartered Institute of Bankers of Nigeria has reiterated the statement of the Central Bank of Nigeria reassuring Nigerians that the banking sector in the country remains very sound and safe.

The institute spoke through its President, Ken Okpara.

CIBN disclosed the soundness of the banking industry has been reaffirmed severally by the Central Bank of Nigeria as the only body best suited to assess the strength of the financial industry in Nigeria.

“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked in a widely circulated press release by the Nigeria Security Printing and Minting Company, which described the story as false, baseless and misleading,” it said.

Mr Okpara said implored the Nigerians to disregard any contrary information as the entire banking community remains focused, committed, and working round the clock to address all the contending issues with a view to restoring normalcy.

Culled / Titilayo Kupoliyi

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Security

Oyo Govt. to Integrate Banks CCTV into Security Network

By Web News 526

Oyo State Governor, Engineer Seyi Makinde has said that his administration will collaborate with the Chartered Institute of Bankers of Nigeria (CIBN) on physical development and capacity building for its relevant workforce in the state.

Governor Makinde said this while receiving the CIBN team led by its President, Mr. Bayo Olugbemi, who paid him a courtesy visit in his office, at the Secretariat, Agodi, Ibadan.

He said that his administration is planning to equally integrate banks’ Closed-Circuit Television (CCTV), into the state’s security network to improve security within and outside the banking environments.

The governor commended the efforts of the institute and indeed the banking industry for its various contributions to the development of the state, 

He promised to make land available for the institution to build its Secretariat in Oyo State so as to allow CIBN contribute to the expansion of the economy of the state. 

Earlier, the CIBN President, Mr. Olugbemi, explained that the banking industry would continue to partner with the state government towards achieving its goal of taking Oyo State to greater heights.

He reiterated CIBN’s readiness to collaborate with the government in organising a yearly seminar on banking and allied matters for the Oyo State Judiciary.

Adebisi Iyabo