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Business Morning: Development Financing And Planned Bank Of Industry Partial Privatisation Part2
Posted
July 11, 2014
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July 11, 2014
89
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6:45Now PlayingFinancial analysts say the Nigerian government's planned partial privatisation of the Bank of Industry, is a commendable development that will make available more funds for development of the economy.
The Chief Executive Officer of the Cowry Asset Management Limited, Johnson Chukwu, told Channels Television on Friday that the bank was limited in terms of funding due to the poor capacity of the government to provide funding.
He further said that the planned partial privatisation did not come as a surprise, as the bank had over the years showed signs of limited access to funds.
Mr Chukwu explained that the development would enable the institution attract private capital that could enable them expound their coverage area.
"The capital will enable them increase the number of customers that they can attend to. They are constrained by the fact that they cannot access private capital," he said.
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