The theme of this seminar “Transformational Banking for Economic Development” is indeed topical, and couldn’t have come at a better time, considering that the banking sector in Nigeria is passing through a critical and decisive path in reforms to reposition it to effectively impact on other sectors of the economy, especially the real sector. 2.
Economic development is about enhancing the productive capacity of an economy by using available resources to reduce risks, remove impediments which otherwise could lower costs and hinder investment. The banking system plays the important role of promoting economic growth and development through the process of financial intermediation.