President Muhammadu Buhari has urged the financial services sector in Nigeria to cooperate with his administration in the fight against corruption, terrorism and money laundering.
The President made the request on Tuesday at the 10th Annual Banking and Finance Conference in Abuja.
He was represented by the Permanent Secretary in the Ministry of Finance, Dr. Mahmoud Isa-Dutse.
Transparency And Probity
Dr Isa-Dutse urged the banks to go beyond policy obligations to leveraging on information and communication technology to develop strategies to counter challenges facing the sector in the fight against corruption.
He observed that the government Treasury Single Account was a tough decision that had entrenched transparency and probity on public financing.
The appeal is coming just as the nation’s economy has glided into recession, with inflation rate in record height and many Nigerians already facing the aftershock.
But for those in the financial services sector, the period calls for key actions and steps that would resuscitate the economy.
The banking sector plays a critical role in stimulating the economy, the Permanent Secretary reminded the banks which are also affected by government’s policies like the Treasury Single Account.
Despite the dire situation, the government wants more to be done in the fight against corruption.
One of the areas that the government wants the banks’ corporation is in cleaning of the nation’s payment system, which is fraught with fraudulent activities.
To ensure that the banks support government’s efforts, the Deputy Governor of the Central Bank of Nigeria, Suleiman Barau, told the gathering that the government was already designing strategies to promote safety and confidence in the nation’s payment system.