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

&NewLine;<p>Rand Merchant Bank&comma; RMB&comma; African leading corporate and&NewLine;investment banking service provider &nbsp&semi;has&NewLine;assured customers and stakeholders of its ability to drive the economy by stimulating&NewLine;real sector growth&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>This assurance came at an Economic and Business Conference&NewLine;Overview&comma; organized by the bank which held at Oriental Hotel&comma; Lagos&comma; with a&NewLine;theme&colon; Unlocking Real Sector Growth to drive Sustainable Economic Development&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>In his welcome address&comma; the Bank’s Chief Executive&NewLine;Officer&comma; Michael Larbie&comma; established that growing the economy requires all&NewLine;efforts&period; He therefore&comma; urged players in the private sector to support&NewLine;government for the required growth to create jobs&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>He emphasized the bank’s consciousness of client’s&NewLine;expectations and promised its commitment to timely financial service delivery&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Okechukwu Enelamah&comma; immediate past Minister of&NewLine;Industry&comma; Trade and Investment&comma; in his keynote address&comma; maintained that the&NewLine;first tenure of the government of President Muhammadu Buhari has laid the&NewLine;foundation for industrialization with visible evidences in the country’s&NewLine;foreign exchange stability&comma; improved micro enterprises&comma; consumer confidence and&NewLine;consolidated partnership with institutions and governments&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>He however advised that efforts at Buhari’s&nbsp&semi; 2<sup>nd<&sol;sup> tenure should be concentrated&NewLine;at&nbsp&semi; doubling down radical exemption and&NewLine;improvement on the Economic Recovery and Growth Plan&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>&OpenCurlyDoubleQuote;While the country’s infrastructural deficit is over&NewLine;&dollar;200 billion&comma; radical private sector participation is a way to go&comma;” Enelamah&NewLine;stated&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Happening at a time Central Bank of Nigeria’s&NewLine;recapitalization disclosure has triggered apprehension and suspicion of&NewLine;distress in the banking sector&comma; the assurance from RMB seems the needed oxygen for&NewLine;industrial players to survive&period;<&sol;p>&NewLine;