President of the Senate, David Mark is not comfortable with the statistics of an improved economy often being reeled out by banks, saying such should impact positively on the lives of ordinary Nigerian.
He also decried high interest rates charged by banks on loans, saying it should be reviewed downward to create conducive environment for small scale businesses to thrive.
The Senate President gave the charge on Tuesday, while receiving the Chairman and members of the Board of the Chartered Institute of Bankers, (CIBN), in his office.
Mark noted further that small scale businesses are not finding the harsh business environment funny as a result of high interest rates.
His words, “This is not healthy for a developing economy like ours. Even the famers who should be encouraged through such facilities are worst hit.
“We cannot claim to be promoting the economy when small scale entrepreneurs cannot access loan on account of high interest rates or other impossible conditions.
“I cannot rationalise a situation where banks reel out statistics of an improved economy when lives of the ordinary man or petty traders have not improved.
“Such wonderful statistics of improved economy should reflect on the lives and businesses of the people otherwise such figures makes no meaning.”
On his part, Mark promised that the National Assembly would give accelerated consideration to the amendment proposed by the Chartered Institute of Bankers on the need to rectify the grey areas in the operations of the sector.
Speaking earlier, the President of the Chartered Institute of Bankers of Nigeria, CIBN, Segun Aina noted that the dearth of professionals was responsible for the crisis in the banking sector.
He therefore, requested the National Assembly to consider the proposal for the amendment of the Act establishing the Institute in order to harmonize the various organs of the sector and make it much more professional and effective. The Institute will clock 50 in November this year.
