CIBN Calls on Banks to Boost MSME Lending, Honours 755 Professionals

The Chartered Institute of Bankers of Nigeria (CIBN) has called on banks to boost their lending to Micro, Small and Medium Enterprises (MSMEs) in a move aimed at supporting the growth of these businesses and the economy as a whole. According to Premium Times Nigeria, the Institute honoured 755 professionals for their achievements, leadership, and dedication to the banking sector.

CIBN’s President, Mr. Alabi, stated that the honorees’ contributions had significantly advanced the banking profession and contributed to Nigeria’s economic growth. The Institute’s decision to honour these professionals underscores the importance of recognising and encouraging excellence in the banking sector.

This call for increased lending to MSMEs comes at a crucial time, as many small businesses struggle to access financing amidst the challenging economic climate. By providing more credit to these enterprises, banks can help them grow, create jobs, and stimulate economic activity. It remains to be seen how banks will respond to this call, and whether this move will mark a significant shift in lending practices towards MSMEs.

According to Google News, this call to action was first reported by Premium Times Nigeria, a reputable Nigerian news outlet.