The Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Uba Sani has applauded the COVID-19 Stimulus Packages rolled out by Nigerian banks but warned against over-concentration of the package in one part of the country.
Uba Sani who represents Kaduna Central Senatorial District, in a statement, expressed delight at the stimulus packages meant to assist in containing the COVID – 19 pandemic and cushion its effect on Nigerians.
“This is quite commendable and will go a long way in renewing the confidence of Nigerians in the banking sector and projecting it as highly responsible and responsive,” said Uba Sani.
He however raised the concern that all the interventions are concentrated in Lagos State, though understandably, currently the epicentre of the pandemic in Nigeria.
He noted that as the COVID19 virus spreads, other parts of Nigeria seem to have been given little or no consideration which he described as unfortunate because the entire country is at risk.
“Lagos State cannot be safe if other states in the federation are unsafe. Just the way Lagos State requires isolation centres, testing and protection kits, other states are in dire need of the same assistance as well,” he said.
The Senator said if the assistance is evenly distributed and coordinated, the likely chances of overcoming the COVID-19 pandemic and resuming the arduous task of rebuilding the economy would be assured.
“We urge Nigerian banks to review their strategies and come up with inclusive frameworks for intervention. Stimulus packages that include all states of the federation would be more impactful than one that draws the ire of bank customers across the country and consequently diminishes the confidence of the people in the sector,” he cautioned.
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