Access Bank Plc lists panacea to Nigeria’s economic flaws

One of Nigeria’s biggest bank, Access Bank Plc, says the most realistic approach to solving Nigeria’s economic flaws is to institutionalize financial inclusion in various communities across the country, giving opportunities for small business owners to grow and contribute immensely to national economy.

Access Bank’s Group Head Retail Operations, Mr. Abraham Aziegbe, who disclosed this recently at the opening of a new branch of Access Bank at Apomu,   in Isokan Local Government Area of Osun State, said Access bank is working with the Central Bank of Nigeria to develop Small and Medium Enterprises (SMEs) in order to boost the Nigerian economy.

According to him, the banking sector has a huge role to play in transforming both the micro and macro economy of the nation into posterity and sustainable growth.

“We recognise the fact that there are still many Nigerians who are still under-banked. By estimation, over 40 million Nigerians do not have bank account, it is on this note that our bank embarked on aggressive branch network to redirect the mindsets of many Nigerians towards active banking activities.

“Asides millions of individuals who involve in daily economic activities outside banking system, there are thousands of small and medium business owners who are transacting without banks. This situation informed our resolve to entrench financial inclusion mechanism in the urban centres and remote communities to incorporate Nigerians into banking creed.

“We are working in collaboration with the Central Bank of Nigeria to transform the economy and make people, especially small and medium business owners to see a brighter future of huge prosperity through active banking,” said Mr Abraham Aziegbe.

Meanwhile, Aziegbe said the benefit of the closure of Nigeria’s land borders could only be felt in the long run, adding that the policy might not immediately have effect on the macroeconomy.

He stated that the policy would, however, stimulate local productivity in the end, by regulating the inflow of goods coming into the country.