Business/Finance

Nigeria’s security, infrastructure predicament solvable, says Heritage Bank CEO

The Managing Director/CEO of Heritage Bank, Mr. Ifie Sekibo, has said that the Nigerian nation will overcome it infrastructural, Small and Medium Enterprises (SMEs) financing and security predicaments to become a great nation.

The CEO stated this over the weekend at the 2021 Annual Conference of the Finance Correspondents Association of Nigeria (FICAN), which also featured activities marking the 30th anniversary of the group. He said government alone cannot solve the infrastructural problem but that our local private sector and the global private sector will be able to solve it.

Sekibo, who was represented by Mr. T. Olubiyi, Head of Business Solution Department of the bank said the above has been done in other places across the globe, adding that this could be done to resolve the issue by attracting global capital.

On the SMEs financing, he said that the solution to SME funding lines with the matters of identification,maintaining that the financial and credit extensions issue lines with proper identification and workable social security number and what have you.

However,it was his contention that our security predicament can be solved going forward,saying that its not beyond Nigeria as a nation.

Therefore he enjoined those who have lost hope on Nigeria to take heart and have faith in the future of the country.

The Central Bank of Nigeria(CBN) Governor delivered the lead paper at the event.While The Managing Director, Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, was  the guest speaker at the conference .

The  the conference,  Rover Hotel  Ikeja, Lagos and was themed: ‘Financing Infrastructure and SMEs for Inclusive Growth in Post-COVID-19 Economy.’

The event brought together stakeholders in the banking, technology and SMEs fields, including regulators and government  agencies  as they explore areas where Nigeria can mobilise patient funds for infrastructure development and upgrade.

Infrastructure is critical to Nigeria’s sustainable economic growth as it is the pivot on which the wheel of other economic activities rotate. But, over the years, its financing has been a challenge. Incidentally, financing the SMEs sector is also a challenge, thereby highlighting the fact that almost every sector of the Nigerian economy is in dire need of adequate infrastructure.

Panelists at the event included Managing Director, Heritage Bank, Mr Ifie Sekibo; Managing Director FMDQ, Mr Bola Onadele-Koko; Director General, Debt Management Office, Ms Patience Oniha; Managing Director, Fidelity Bank, Mrs Nneka Onyeali- Ikpe; officials of the CBN; Managing Director, NSIA, Mr. Uche Orji; the CEO, CSCS, Mr. Haruna Jalo-Waziri; Chairman of the Foundation for Economic Research and Training (FERT), Lagos, Prof Akpan Ekpo.

FICAN is the umbrella body of finance Journalists and Business Editors covering money market, capital market and the Insurance industry from the print, online and electronic media.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close