Following recent events in the banking sector that led to the Central Bank of Nigeria (CBN) taking over the management of Skye Bank, plus the rumours that two other banks may be headed the same way, there have been fears among customers about the safety of their deposits.
Clearing the air on these fears and much more, experts on NTA’s Good Morning Nigeria reassure Nigerians on the state of Nigerian banks noting that banks could do better.
While some of the guests infer that the federal government’s treasury single account policy which has taken out some 3 trillion naira out of commercial banks is one of the causes of the seeming distress that some of the banks are experiencing, another is of the opinion that the banks are stronger after all.
They advise that banks need to take certain steps to restore customer confidence and urge the media to conduct itself responsibly in order to ally the fears of customers.
The on-going retrenchment exercise by most banks was also discussed. This they say is inevitable in the face of dwindling revenues of banks and the replacement of manpower with technology.