The body of chief executive officers, under the auspices of Chartered Institute of Bankers of Nigeria, CIBN, said Thursday there was no concealment of exposure by banks alleged.
It also pledged to partner with the Central Bank of Nigeria, CBN, on optimisation of the foreign exchange market.
The Body of bank chief executives, which met to extensively review the current developments in the banking industry, especially issues around the ban of some deposit money banks from the foreign exchange markets, agreed to work closely with the Central Bank of Nigeria, CBN, to address the issue in a manner that would protect the stability of the industry, and ensure proper conduct in the optimisation of the foreign exchange market.
In a statement signed by Seye Awojobi, Registrar/CEO, the CIBN said: “While clarifying that there was no concealment of the exposure in any form, as the banks had always disclosed the fund in their returns, the meeting, which held at the Bankers House, noted that the situation arose out of the maturity mismatch of funds found in certain strategic sectors to ensure the growth of the economy.
”The consensus in the meeting was that there is no crisis in the industry as it is strong and stable.”
The body stressed that as professionals who understood what is at stake, it would work towards ensuring that the concerned banks comply with the directive of the Apex Bank as soon as possible to avoid negative impact on the economy.
The Bank Chief Executives have also resolved to continue to collaborate with the CBN and other stakeholders to forestall this and other issues that may impact on the growth of the banking industry.
It also pledged to partner with the Central Bank of Nigeria, CBN, on optimisation of the foreign exchange market.
The Body of bank chief executives, which met to extensively review the current developments in the banking industry, especially issues around the ban of some deposit money banks from the foreign exchange markets, agreed to work closely with the Central Bank of Nigeria, CBN, to address the issue in a manner that would protect the stability of the industry, and ensure proper conduct in the optimisation of the foreign exchange market.
In a statement signed by Seye Awojobi, Registrar/CEO, the CIBN said: “While clarifying that there was no concealment of the exposure in any form, as the banks had always disclosed the fund in their returns, the meeting, which held at the Bankers House, noted that the situation arose out of the maturity mismatch of funds found in certain strategic sectors to ensure the growth of the economy.
”The consensus in the meeting was that there is no crisis in the industry as it is strong and stable.”
The body stressed that as professionals who understood what is at stake, it would work towards ensuring that the concerned banks comply with the directive of the Apex Bank as soon as possible to avoid negative impact on the economy.
The Bank Chief Executives have also resolved to continue to collaborate with the CBN and other stakeholders to forestall this and other issues that may impact on the growth of the banking industry.
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