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NDIC advocates sustainable banking practices

03 December 2013, 13:32

Uyo - The Nigeria Deposit Insurance Corporation (NDIC) on Monday called for sustainable banking practices in the country.

Dr Ade Afolabi, the Director of Research, Policy and International Department of NDIC, made the call at the on-going workshop organised by NDIC for business editors and financial correspondents in Uyo, Akwa Ibom.

The theme of the workshop is "Deposit Insurance and Financial Inclusion".

Afolabi said that while banks focused on sustainable banking, their operations should also generate economic activities for host communities.

He said that this was more important for banks in rural communities as sustainable banking practices would reduce migration to urban cities.

Afolabi also said that banks had to consider the negative and positive impacts of any projects before financing them.

He stressed that banks should be able to stop any problem that could arise from financing projects that would have negative impacts.

The director also advised banks to lend to the real sector activities where any invested fund could grow.

Afolabi suggested that banks could lend to the real sector activities that would also support agriculture.

He called on banks to ensure effective corporate governance while engaging in sustainable banking practices.

-    NAN


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