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Ngige Backs N25bn Capital Base for Banks From Charles Onyekamuo in Awka Anambra State Governor, Dr. Chris Ngige yesterday said the central Bank of Nigeria (CBN) policy which required banks in the country to capitalise to the tune of N25 billion by the end of 2005 will strengthen the banking industry. Throwing his weight behind the policy, Ngige who spoke while commissioning the Awka branch of First Atlantic Bank Plc, on Zik's Avenue Awka said the policy will restore people's confidence in the operations of commercial banks and consolidate the gains made in the banking sector over the years. He pleadged his government's readiness to do business with the bank. "We will not hesitate to do business with First Atlantic Bank, Plc. We want to identify with the N25 billion central Bank capitalisation policy becuase it seeks to consolidate the banking industry. It is now the survival of the fittest. When the going gets tough, the tough gets going, and I hope that First Atlantic Bank, Plc will survive and be among the big banks", the Governor said. Ngige thanked the bank for investing in the state and assured the management of the people's patronage. The chairman of the bank, Olorogun O'tega Emerhor had earliers in his speech assured its customers that the bank was not going to sly away from the N25 billion capitalization policy of the CBN, and pledged his organisation's readiness to help the Anambra state government effectively manage its resources, which he described as challenging. "As we have done with a few other states, we are available to help the Anambra State Government effectively handle the challenges of resource management by availing her our effective panacea that ensures efficient salary payment even in remote communities. It is a solution we have tested and are effectively implementing with some state governments. Its salutary effect on your state revenue is tangible. Our solution is also known to detect and eliminate the problem of ghost workers where it exists". he said. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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