June 4, 2023

The Association of Senior Staff of Banks, Insurance, and Financial Institutions, (ASSBIFI), yesterday called on the Federal Government to strengthen economic policies that would boost employment opportunities for Nigerians.

ASSBIFI’s President, Comrade OyinkanOlasanoye, in a chat with our Correspondent,called on government to provide enabling environment that would enhance food security, stressing that experience around the world shows that farmers, foresters and herders have used cooperative organisations to create employment opportunities as well as increase food production.

The labour leader said through the agricultural policies of the three tiers of government, the federal, state and local government cooperative societies, for instance, could maximise their basic objectives for the farmers and food production.

She said the value of cooperative model in agricultural cooperative was to ensure that all can enjoy the right to food as vehicle for sustainable development.

Comrade Olasanoye said that cooperative societies had created avenue to open up access to financial services and social protection to the farmers in the country.

She said cooperative societies are capable of creating job opportunities and produce food to feed families throughout the country.

She also pleaded with the anti-corruption agencies to intensify efforts in preventive activities by working with financial system operators and regulators to ensure that access to such cash was prevented at the commercial banks and the CBN.

“As a responsible association, if all such funds were in the banking system today, the liquidity position would be different”, she said

“As a leading and responsible trade union in the financial sector, and a critical stakeholder in the financial system, we are inclined to state the following position of our union in the light of the inglorious development and economic malaise: The Nigerian financial system remains weak in liquidity and under-capitalised partly because the funds in private vaults running outside the system are competing in volume with what is accounted for in the financial system, if not more.

‘’The government should continue to strengthen the relevant anti-corruption institutions and build a strong system around strong values and personalities. And government should encourage people to speak the truth to power at all levels, whether through citizens’ media or the regular mass media.

“The government should go beyond the financial reward to whistle-blowers, and put in place laws that will protect the whistle-blowers against any form of retaliation. We also encourage our members in the insurance and banking sector to get involved in the whistle-blowing of any person or persons known to them to be involved in the practice of cash racketeering.

‘’This is intended to save our system from liquidity crisis beleaguering the system. As a responsible association, we can safely say that if all such funds are in the banking system today, the liquidity position will be different.

“ASSBIFI shall continue to support the efforts of government to rid the financial system of corruption at all levels. We, therefore, demand that anti-corruption agencies intensified efforts at preventive activities by working hand in hand with the financial system operators and regulators to ensure that access to such cash is prevented at the commercial banks and the CBN”, she said.

209 thoughts on “ASSBIFI Calls For FG’s Efforts To Strengthen Economic Policy

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