BNW

B N W: Biafra Nigeria World News

.... ....   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact Towards a better life for the people Search The Archives   Cover Stories National News South West Niger Delta South East North Politics Business Sports World Viewpoints Features   ..... NATIONAL NEWS N25b capital base: House plans public forum * Akintola Williams & Co backs CBN By Rotimi Ajayi & Babajide Komolafe Wednesday, July 28, 2004 The House of Representatives is to hold a public forum over the controversial 25 billion Naira minimum deposit for banks in view of the controversy surrounding the policy. Deputy Chairman of the House Committee on Banking and Currency, Mr U. S. A Igwesi made this known to newsmen yesterday at the end of its plenary session. According to Mr Igwesi, the forum would attract every stakeholder in the banking industry as well as experts from various institutions. He, however, commended the CBN policy, which he said would bring a lot of sanity into the banking sector as well as galvanize the growth of the nation’s economy. He stated that those who had been opposing the policy were of vested interest in the sector. “I see the 25 billion Naira minimum deposit asked by the CBN as a deposit of security, a deposit for confidence,  as it would make depositors have robust confidence in the banking sector. “It is one of the best policies that CBN has churned out. It was tailored to help our investment needs and this will create employment for our people.” In a related development, foremost accounting firm, Akintola Williams Delloite Touche, has thrown  its weight behind the N25 billion capital base and other reforms proposed by the Central Bank of Nigeria (CBN) for banks, saying it is a timely intervention for the industry. Managing partner/chief executive officer of the firm, Mr Olusegun Odubogun stated this while fielding questions from financial journalist in Lagos yesterday. His words: "As the nation’s foremost accounting firm, and with about 50 per cent of the banks as our clients, we believe the N25 billion capital base and the reform package is a timely decision which would subsequently create a lot more business activities, and more employment in the economy. “There might be unemployment problem but this would be very short term.  It would give greater credibility to our financial institutions outside the shores of our market. You  will agree this days the world is a global village and  Nigeria should not see itself as a small country. We should see ourselves as an important global  player.”   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact © 1998- 2004. Vanguard Media Ltd.

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb