Bank Directors Advocate for Collaborative Banking Policies: A Step Towards a Stronger Financial Ecosystem

The Bank Directors Association of Nigeria (BDAN) recently held an advocacy visit to the Senate Committee on Banking, Insurance, and Other Financial Institutions.

Led by the Chairman of the Board of Directors, Mustafa Chike-Obi, the delegation aimed to promote a collaborative approach to banking policies that would drive growth and innovation in the industry.

The visit, which took place on March 15, 2024, was part of BDAN’s Advocacy Agenda, which emphasizes the association’s commitment to working hand-in-hand with stakeholders in the banking industry, including the legislative arm responsible for legislation and oversight functions.

In a statement released by the association’s Chief Executive, Adebukola Orenuga, BDAN acknowledged the pivotal role of regulatory bodies and legislative institutions in shaping the banking landscape and expressed their determination to ensure a conducive legal framework and regulatory environment that promotes innovation, stability, and growth within the sector.

During the advocacy visit, discussions revolved around policy review and the importance of collaboration between the banking industry, the legislature, and regulatory bodies.

This highlights the need for dialogue, transparency, and mutual understanding in addressing emerging challenges and opportunities in the banking sector.

Senator Mukhail Adetokunbo Abiru, the Chairman of the Senate Committee, along with 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.

The advocacy visit was attended by several members of the Senate Committee, including vice chairman Senators Usman Lawal Adamu, Aminu Waziri Tambuwal, Osita Izunaso, Hussaini Babangida Uba, Nasiru Sani Zangon Daura, Mohammed Tahir Mongono, Khabeeb Mustapha, Sen. Binos Yaroe, Titus Zam, Tony Nwoye, and Dandutse Muntari Mohammed, among others.

In addition to the Senators, Dayo Omolokun, Dr. Oluwayemisi Olorunshola, Chuks Emma Okoh, Umaru Kwairanga, Mohammed Datti Yola, and the executive secretary/chief executive of the Association, Adebukola Orenuga, were also present at the meeting.

With the Bank Directors Association of Nigeria advocating for collaborative banking policies and a stronger financial ecosystem, the future of the banking sector in Nigeria looks promising, with the potential for greater innovation and growth.