Planned Banks’ Recapitalisation‘ll Improve Lending to Manufacturers – Ex-MAN Boss
Former Chairman, of the Manufacturers Association of Nigeria (MAN) Ogun Chapter, Dr Wale Adegbite, says the planned banks’ recapitalisation by the Central Bank of Nigeria (CBN) will improve lending to the manufacturing sector.
Adegbite said this on Tuesday in Ota, Ogun.
He spoke on the CBN pronouncement that it was planning to implement a new round of banking recapitalisation in line with the anticipated $1 trillion economy by 2030.
Mr Olayemi Cardoso, the CBN Governor, had said the apex bank was planning new round of recapitalisation for the commercial banks.
Cardoso announced the plan on Friday at the 58th Annual Bankers’ Dinner, organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.
The ex-MAN chairman said the decision of CBN to raise the capital base of Deposit Money Banks (DMBs) would make more loans available to the manufacturers.
“Any policy introduced by the apex bank to increase the capacity of banks will improve lending to the manufacturing sector is a welcome development.”
He said this would help manufacturers to boost productivity through the provision of machinery from aboard.
 Ogun Chapter, Dr Wale Adegbite, says the planned banks’ recapitalisation by the Central Bank of Nigeria (CBN) will improve lending to the manufacturing sector.){kind=link}