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Banks and private sector organized to collaborate in economic growth

Nigerian banks and the organized private sector (OPS) will address areas of concern and critical strategies to create sustainable synergy between the financial services industry and other businesses.

At the 1st National Stakeholder Conference on Synergy between the Nigerian Banking Sector and the Organized Private Sector, top financiers, economic experts and industry leaders would come up with lasting solutions to the ongoing discord between the banking sector and the organized private sector. PAHO

The conference is organized by the Association of Corporate Affairs Managers of Banks (ACAMB), the banking industry’s corporate communications and reputation management group.

Speaking at a pre-event press conference in Lagos, the Chairman of the Association of Corporate Affairs Managers of Banks (ACAMB), Mr. Rasheed Bolarinwa said the Nigerian economy would be the main beneficiary of the conference, as far-reaching strategies would be taken to exploit the emerging economic benefits through the expected synergy.

According to him, the conference would bring together the best players from both sides to act as a think tank for the country’s macroeconomic growth.

“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.

He said the conference, to be held on Wednesday, August 3, 2022 at the Bankers House Boardroom on Victoria Island, Lagos, would have the Governor of the Central Bank of Nigeria (CBN) as the keynote speaker along with the Presidents of the Chartered Institute of Bankers of Nigeria (CIBN), NACCIMA and Manufacturers Association of Nigeria (MAN) as keynote speakers.

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

He said the conference would correct any perceived misunderstanding between the two sectors, which would be critically examined to offer common ground that would foster understanding and progress.

The program for the event stated that the strategic panelists would be led by sector leaders and that it cut across banking and OPS players, including NECA, NASSI and NASME, among others. The main plenary session would be moderated by the leading economist, Dr. Biodun Adedipe.

“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.

“ACAMB reaches out to all key stakeholders to ensure inclusiveness and maximization of capacity. We will persist in generating innovative and creative initiatives to promote the growth and development of the banking sector and the national economy.

“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.

He urged the media to be a key partner in the new paradigm shift of engagements with critical industry stakeholders, noting that the media is key to creating mutual understanding.