See Why This Ex-CBN Chief Wants A Bank For Women
Do you remember Professor Kingsley Moghalu? He is the former Central Bank of Nigeria, CBN Deputy governor who wants President Buhari’s job.
He said he would like there to be a separate bank for women to boost their access to financial services.
Moghalu was at the Chartered Institute of Bankers of Nigeria, CIBN 2018 Annual Lecture on Friday in Lagos.
The lecture was themed: “Of Banks and Bankers: Finance and the Challenge of Economic Development in Nigeria”.
He said that 46.6% of Nigerian women lacked access to financial services, even though they were highly productive.
Moghalu urged the banking sector to do whatever it could to establish a bank to facilitate wealth creation by women.
He described Nigerian women as enterprising, better borrowers and loan payers than men.
He also argued that that over exposure to the oil and gas sector had aided non-performing loans when the value of the oil and gas sector dropped.
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Moghalu said that reforms by the CBN to buy non-performing loans and aid financial stability had proved unsuccessful.
“So out of the little credit left, over 77% was concentrated in Lagos, sidelining, women in rural communities.
“No economy can sustain inclusive growth under such circumstance and this would lead to infrastructural epilepsy,” he said.
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