Heritage Bank MD tasks govt on policies to support private sector interventions for infrastructure growth
Naija News NG
  • Home
  • Nigerian News
  • Banks
  • Nigerian Celebrities
  • TECH
  • Business
  • Politics
  • CHIKERO REVIEWS
No Result
View All Result
  • Home
  • Nigerian News
  • Banks
  • Nigerian Celebrities
  • TECH
  • Business
  • Politics
  • CHIKERO REVIEWS
No Result
View All Result
Naija News NG
No Result
View All Result
  • Home
  • Nigerian News
  • Banks
  • Nigerian Celebrities
  • TECH
  • Business
  • Politics
  • CHIKERO REVIEWS
Home Banks

Heritage Bank MD tasks govt on policies to support private sector interventions for infrastructure growth …Cart away duo Platinum awards

Admin by Admin
September 28, 2021
in Banks
Heritage Bank MD tasks govt on policies to support private sector interventions for infrastructure growth

The MD/CEO of Heritage Bank Plc, Ifie Sekibo has called on governments to provide enabling policies that would support private sector interventions to achieve the vision of infrastructural development. 

He made this submission at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-anniversary conference and awards with the theme: “Financing Infrastructure & SMEs for inclusive growth in the post-COVID-19 economy,” held weekend in Lagos.

Sekibo who was represented by Olusegun Akanji, Divisional Head, Strategy and Business Solutions, argued that the government cannot solve the country’s infrastructure challenges, noting that it is the private sector that will deliver the solution.
According to him, the government can only provide enabling policies that will support private sector interventions.

“We need the global private sector intervention to help us achieve a vision of infrastructural development,” he said.
He noted that until the country developed an identity management system that delivers value to the citizenry, SMEs will continue to grapple with financing challenges.
He explained that though the banking industry has financed a lot of SMEs in terms of count, that it is the sector that has the largest numbers of bad loans and frauds in terms of count.
MD of FMDQ Group, Bola Koko represented by Yomi  Osinubi, Head Private Market, urged Nigeria to conceive a way its domestic capital market could fund the international capital market.
That, he said, was the only way that we could pluck the infrastructure rewards.
“If we want to pluck our infrastructure rewards, first of all we have to conceive of a way our domestic capital market can actually fund capital market.
“But the investors in debt capital market international and debt, money will come into an environment where capital is expected and there is an expectation of good management of those resources and cash flows will come back to it.
“So I think there’s the issue of maybe an underlying structure where we want to put in capital like road infrastructure tax payment.
” If you want SMEs to get the best benefits of infrastructure development in the country, the CBN Governor mentioned the largest areas of course for SMEs which is energy.  The second largest is the logistics, movements of cargo around the country,” he said.
Executive Commissioner, Temidayo  Obisan representing the Director General of Securities and Exchange Commission (SEC),Lamido yuguda advised that the nation connected the right duration of money which according to him would be long-term. “The major thing to identify is that infrastructure is a long-term thing,  so it Is essential we connect the right duration of money which is long term capital which is what capital market provides and which sec as a regulator should.
“We have about three surviving infrastructure focus funds in Nigeria now that are totalling almost a 100bn, itching about 90 billion at the moment and there are some that are registered programmes of 200billion,” he said.
More so, the Chairman of FICAN, Titus Chima Nwokoji, said if Nigeria’s infrastructural gap, which is estimated to be N36 trillion annually, is addressed, a lot of the country’s economic challenges will be easily tackled.

“And coming out of COVID-19 pandemic, we know that if the infrastructure is fixed and SMEs thrive, the growth that you see will be faster,” he added.

L-R: Titus Nwokoji, Chairman of Finance Correspondents Association of Nigeria; Olusegun Akanji, Divisional Head, Strategy and Business Solutions of Heritage Bank Plc and former Chairman of FICAN and Deputy Business Editor of Vanguard, Babajide Komolafe, during the duo Platinum Awards presented to Ifie Sekibo and Heritage Bank for Outstanding Support towards FICAN and Financial Reporting, respectively at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-anniversary conference and awards with the theme: “Financing Infrastructure & SMEs for inclusive growth in the post-COVID-19 economy,” held in Lagos, weekend.

L-R: Blaise Udunze, Team Lead Media and External Relations of Heritage Bank Plc; former Managing Director of Bank of Industry, Waheed Olagunju and the Chairman of Finance Correspondents Association of Nigeria, Titus Nwokoji, during the duo Platinum Awards presented to Ifie Sekibo and Heritage Bank for Outstanding Support towards FICAN and Financial Reporting, respectively at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-anniversary conference and awards with the theme: “Financing Infrastructure & SMEs for inclusive growth in the post-COVID-19 economy,” held in Lagos, weekend.

Related

Previous Post

UBA Foundation’s National Essay Competition(NEC) 2021 Ready to Receive Digital Applications. Opens Portal for NEC 2021; Prizes increase in value by 33%

Next Post

UBA’s LEO Continues to Evolve, Remains Smartest Banking Chatbot …Hits 3 million user mark

Admin

Admin

I am Paschal Ogechi Obi Chikero . I have written and published three books , I wrote Festus Keyamo's biography- Lion In Isolation .I have been a Reality TV show Producer/Creator, an Actor and Film Script Writer.

Next Post

UBA’s LEO Continues to Evolve, Remains Smartest Banking Chatbot …Hits 3 million user mark

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending Stories

David Hundeyin

VIDEO : David Hundeyin Undresses Sam Omatseye

Pastor Chris Oyakhilome Suspends Nephew For Supporting Tinubu

Pastor Chris Oyakhilome Suspends Nephew For Supporting Tinubu

For Peter Obi, Investigative Journalist, David Hundeyin , Smacks Nairaland Founder, Seun Osewa

For Peter Obi, Investigative Journalist, David Hundeyin , Smacks Nairaland Founder, Seun Osewa

Buhari

VIDEO : Buhari Died In 2017 – British Activist Declares

NARCOTIC LINKS : Abiola’s Family Calls Out David Hundeyin , He Reacts

Annie Idibia Reacts To 2face's Public Apology

Annie Idibia Reacts To 2face’s Public Apology

Pyrate Confraternity Speaks On Viral Seadogs Video On Tinubu

Pyrate Confraternity Speaks On Viral Seadogs Video On Tinubu

Tinubu’s Campaign Team Angry With Soyinka

Tinubu’s Campaign Team Angry With Soyinka

2face

2face Impregnated A Banker – Nigerians Allege

I Broke Up With Burna Boy Because He Can't Satisfy Me In Bed - Stefflon Don

I Broke Up With Burna Boy Because He Can’t Satisfy Me In Bed – Stefflon Don

Latest Stories

Regina Daniels and Ned Nwoko

See The Muslim Name Regina Daniel And Ned Nwoko Gave Their New Child

Lalong

As A Top Catholic Knight I Am Proud To Lead Tinubu’s Campaign- Gov. Lalong

Peter Obi

Details Of Peter Obi’s Meeting With New US Consul-General To Nigeria

Steven Seagal

Photos Of Hollywood Actor Steven Seagal In A Prison In Ukraine

Prof Akintola Williams

BIRTHDAY WISHES: Peter Obi Celebrates Akintola Williams At 103

Heritage Bank

Heritage Bank supports Nigerian Airforce with impactful digital solutions for profit mark-up

GLO

Glo promises subscribers exciting experience with EPL Data Packs 

2face

2face Impregnated A Banker – Nigerians Allege

Naija News today and Nigerian Newspapers headlines for Wednesday 10 August 2022

Buhari

VIDEO : Buhari Died In 2017 – British Activist Declares

  • About Us
  • Naija news today
  • Contact us
  • PRIVACY POLICY

Copyright © 2022. Naijanewsng.com | All Right Reserved.

No Result
View All Result
  • Home
  • Nigerian News
  • Banks
  • Nigerian Celebrities
  • TECH
  • Business
  • Politics
  • CHIKERO REVIEWS

Copyright © 2022. Naijanewsng.com | All Right Reserved.