A challenge for us all – deposits have remained low and most of the time negative in real terms. This is not a good way to attract savings. Let me touch on Banking Sector Development: The banking sector recorded strong growth in the year to September 2007 against a backdrop of buoyant economic conditions.
Specifically, for this first cycle of the initiative ending today, 243 applications valued at N321.06 billion, spread over key sectors such as agriculture, energy, healthcare, manufacturing, and services sectors were submitted on the portal. After much engagement, 79 applications were received from banks, valued at N121.87 billion, for projects in six (6) sectors, namely agriculture, energy, healthcare, manufacturing, mining, and services sectors.