During The Soludo’s Project As CBN Governor, We Ended Up With No Single Bank In The North -According to SAN Bashir Dalhatu

During The Soludo's Project As CBN Governor, We Ended Up With No Single Bank In The North -According to SAN Bashir Dalhatu

SAN Bashir Dalhatu, the chairman of the board of trustees of the Arewa Consultative Forum, has expressed the worries of Northern leaders on the possible transfer of the CBN headquarters from Abuja to Lagos, emphasizing the detrimental effects on the region. He asserted that even though the North had previously had strong banks, the government-initiated policy by the CBN led to the North having no single bank during the tenure of Professor Charles Soludo as CBN governor. CONTINUE FULL READING>>>>>

He argued that this policy overlooked the geographical implications of depriving the North of a robust banking system. He elaborated on the aftermath, revealing that after losing nine banks, the Central Bank continued to support and sustain other banks using resources jointly owned by the country. This situation according to him raised issues of inequity, as the surviving banks were being sustained with funds derived from the entire nation. Furthermore, he emphasized the difficulty individuals in the North faced when attempting to secure loans from these banks, indicating the broader economic challenges stemming from these banking policies.

He said in an interview with Arise TV, ”There were so many reasons why we feel the way we do right now. Let me remind you that some years back, there was the issue of recapitalization of banks. The North had healthy bank but the recapitalization wiped them out. During the Soludo’s project as CBN governor, we ended up with no single bank in the North. This was a government policy that didn’t take into consideration of the fact that if it is being put in place, the whole central part of this country will be deprived of the banking system.

But that is not even the problem. After that issue where we lost nine banks, then the Central Banks continued to prop up other banks that it had raised with the jointly owned resource of this country. We lost our banks, the banks that remained were propped up with our own money. You try to find out to get a loan from any of these banks and see how difficult it is.” CONTINUE FULL READING>>>>>

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