Bank directors seek lawmakers, regulators cooperation on policies

Onwubuke Melvin
Onwubuke Melvin

The Bank Directors Association of Nigeria has called for cooperation between lawmakers, regulatory authorities and the banking sector operators in the formulation and review of banking policies.

The Association stated that the call was made by the Chairman of the Board of Directors, Mr Mustafa Chike Obi, who led a delegation to the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mohammed Adetokunbo Abiru.

BDAN, in the statement signed by its Chief Executive, Adebukola Orenuga,acknowledged the important role played by regulatory bodies and legal authorities to shape the banking landscape, according to The Punch.

It stated that its advocacy efforts aimed to ensure a conducive legal framework and regulatory environment that promotes innovation, stability, and growth within the sector.

The statement partly read, “During the advocacy visit, discussions revolved around policy review and the importance of collaboration between the banking industry, the legislature and regulatory bodies, thereby, emphasising the need for dialogue, transparency, and mutual understanding to address emerging challenges and opportunities.

“Senator Mukhail Adetokunbo Abiru and other members of the committee welcomed BDAN’s initiative to engage with the Senate committee, acknowledging the significance of constructive dialogue between policymakers and industry stakeholders.

“As BDAN continues its advocacy efforts, the association reaffirms its commitment to working closely with regulatory bodies, legislative institutions, and all stakeholders in the Banking industry to promote a robust and resilient financial ecosystem that serves the best interests of all Nigerians.”

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