As CBN flirts with recapitalization, RMB assures capacity to stimulate growth

Rand Merchant Bank, RMB, African leading corporate and investment banking service provider  has assured customers and stakeholders of its ability to drive the economy by stimulating real sector growth.

This assurance came at an Economic and Business Conference Overview, organized by the bank which held at Oriental Hotel, Lagos, with a theme: Unlocking Real Sector Growth to drive Sustainable Economic Development.

In his welcome address, the Bank’s Chief Executive Officer, Michael Larbie, established that growing the economy requires all efforts. He therefore, urged players in the private sector to support government for the required growth to create jobs.

He emphasized the bank’s consciousness of client’s expectations and promised its commitment to timely financial service delivery.

Okechukwu Enelamah, immediate past Minister of Industry, Trade and Investment, in his keynote address, maintained that the first tenure of the government of President Muhammadu Buhari has laid the foundation for industrialization with visible evidences in the country’s foreign exchange stability, improved micro enterprises, consumer confidence and consolidated partnership with institutions and governments.

He however advised that efforts at Buhari’s  2^nd tenure should be concentrated at  doubling down radical exemption and improvement on the Economic Recovery and Growth Plan.

“While the country’s infrastructural deficit is over $200 billion, radical private sector participation is a way to go,” Enelamah stated.

Happening at a time Central Bank of Nigeria’s recapitalization disclosure has triggered apprehension and suspicion of distress in the banking sector, the assurance from RMB seems the needed oxygen for industrial players to survive.