Oliver Alawuba, the chairman of the Committee of Banks’ Chief Executive Officers, has cautioned that bank lending should not be confused with a gift or a handout, emphasizing that careful borrowing and disciplined repayment are essential to Nigeria’s long-term economic development. Speaking at the 60th Anniversary Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Alawuba discussed Nigeria’s recent financial difficulties, specifically the sharp decline in the value of the naira and the erosion of investor confidence that characterized the nation’s most unstable economic times.
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