From Uche Usim, Abuja
As Nigeria grapples with post-recession challenges, the Managing Director, Bank of Industry, Mr Olukayode Pitan is seeking a strong synergy with other Development Financial Institutions (DFIs) on the platform of Association of Nigerian Development Finance Institutions to engender economic growth.
Pitan, who doubles as the Chairman of the Association solicited the cooperation on Wednesday during a meeting with Chief Executive Officers of Development Finance Institutions.
According to him, the Association was inaugurated on October 15, 1982 with 15 foundational members.
He added that the primary objective is to create a forum for DFIs in Nigeria to discuss and exchange ideas on issues of common interests while providing a platform for members to cooperate in areas of investment, finance and capacity building.
Pitan told members that time has come for the association to play its role in creating a conducive atmosphere for operations of the DFIs towards achieving a sustainable real sector development.
The BOI CEO, who lamented that the association has been quiet for the past seven years which is not good for the country’s financial institutions, called on members to be more involved in the activities of the association.
He noted that the existence of the Association of Nigeria Development Finance Institutions ANDFI was key to the growth of Nigerian economy.
The MD said the meeting is to strategize on how the association will meet once or twice in a year, while assuring them of an office space in the Abuja Bank of Industry building.
The space, he said, can sit a minimum of six staff including the Secretariat.
Pitan added that the Central Bank of Nigeria has interest in ANDFI and wants it to play a very active role in the continental association.
He noted that South Africa provided Chairman for AADFI before handing over to Botswana, East Africa and North Africa has been very active, while West African has witnessed less representation
This, he said, had made it imperative for Nigeria to play a vital role in ensuring good representation.
He added that Nigeria is quite active in Association of African Development Finance Institutions as the MD BOI is the alternate Director.
He said, “It is therefore a good time to begin repositioning ANDFI for better collaborations with both local and international community.
“Repositioning of ANDFI has both local and International advantages hence the need for Nigeria to get involved.”
He gave some of the benefits of the association to include to raise a common voice of DFI’s to influence CBN circulars and guidelines and also other government policies for operational efficiency.