New Telegraph

BoI boss rallies DFIs support for economic growth

The Managing Director, Bank of Industry, Mr Olukayode Pitan , who doubles as Chairman, Association of Nigerian Development Finance Institutions, is rallying the support of other development financial under the umbrella for economic growth. Pitan while addressing Chief Executive Officers of Development Finance Institutions in the country solicited for the cooperation of all DIFIs to spur desired economic growth.

The association was inaugurated on October 15, 1982 with 15 foundational members It was created with the primary objective to create a forum for DFIs in Nigeria to discuss and exchange ideas on issues of common interests while providing a platform for members to cooperate in areas of investment, finance and capacity building.

Pitan said time had come for the association to play its role in creating a conducive atmosphere for operations of the DFIs towards achieving a sustainable real sector development. Calling on members to be more involved in the activities of the association, he lamented that the association had been quiet for the past seven years, which is not good for the country’s financial institutions. He said the existence of the Association of Nigeria Development Finance Institutions ANDFI was key to the growth of Nigerian economy.

The MD said the meeting was to strategise on how the association would meet once or twice in a year, while assuring them of an office space in the Abuja’s Bank of Industry building. The space he said can sit a minimum of six staff including the Secretariat. Pitan said the Central Bank of Nigeria had interest in ANDFI and wants it to play a very active role in the continental association. He noted that South Africa provided Chairman for AADFI before handing over to Botswana, East Africa and North Africa has been very active, while West African has witnessed less representation. This, he said, had made it imperative for Nigeria to play a vital role in ensuring good representation.

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