Economy ’ll rebound with credible polls — Bank CEOs
Against the backdrop of weak economic growth, record low foreign exchange inflows and heightened pre-election country risk in 2022, Chief Executives of major banks in Nigeria have indicated that a turnaround in major macroeconomic indicators and market rebounds would depend on a positive outcome of the 2023 general elections.
Areas of concerns, according to them, include investment attractiveness, foreign exchange inflows, financial sector robustness and general economic wellbeing of the citizens.
In their various notes to Vanguard, the bank CEO’s opined that a credible electoral processes and positive outcome would drive investors’ confidence leading to record high foreign exchange and foreign investment inflows, continued growth in the financial sector driven by increased competition among players through improved innovation to enhance service delivery and customer experience.
The banks’ CEOs who spoke exclusively to Vanguard include Oliver Alawuba, Group Managing Director/CEO, United Bank for Africa Plc, UBA; Abubakar Suleiman, Managing Director of Sterling Bank Plc and Jeremy Awori, Managing Director of Ecobank Nigeria Limited.
(Vanguard)
