Against the backdrop of various interventions by the Federal Government and the Central Bank of Nigeria (CBN), the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), has expressed confidence on the economy, stating that the economy is on the path of recovery.
Attributing the progress to the government’s strategic policies, President of ASSBIFI, Olusoji Oluwole, said recent activities in the economy shows that things are beginning to stabilize.
“To be candid it has not been easy in the last one year. The level of inflation which also leads to job loss was very high. There was confusion here and there. However, recent happening shows that the economy is picking up,” he said.
Oluwole gave examples of Dangote Refinery, and the resuscitation of Port Harcourt and Warri refineries that are now working as a plus for the economy, adding that the “Naira seems to have stabilise a bit.”
He noted that the issue of recapitalisation of banks is a good development for the growth of the economy, noting that many banks have gone through the first phase and “many are going to meet up with the way things are going.”
