The chartered Institute of Bankers of Nigeria (CIBN) has said that despite the fall in the oil price in the international market, the nation’s banks are strong enough to withstand the shock.
The President of CIBN, Mrs Debola Osibogun who made this remark when Financial Correspondent Association of Nigeria paid a courtesy visit to the institute said that the decline in the prices of oil has continued to put pressure on the government revenue and exchange rate. She was optimistic that the nation’s economy will bounce back but failed to state the time frame for it to recover.
Speaking further she said. “Central Bank of Nigeria (CBN) is keeping a close watch in the industry. CBN is monitoring the exchange rate and interest rate, I believe the economy will bounce back but I can’t say how long it will last.”
She however said that although the situation Nigeria found itself is the tough one but it would get over the trying time.
She further said that the federal government is handling the issue in such a way that it would not hit the economy. badly. She said that media houses are expected to give adequate coverage on things happening in our economy through documentary and features.
Stating some of the achievement recorded by the institute, she said ‘ we have 16 certification programmes and we have signed 30 Memorandum of Understanding with Tertiary Institution,to ensure that students have the knowledge needed to operate in the system. According her “the essence of partnership with Tertiary institution is to ensure that they have quality skills that would enable them operate after graduation.