The Body of Bank Chief Executive Officers (CEOs) says four financial institutions invested N120 billion on infrastructure and technology development in the first quarter of 2026.
Mr. Oliver Alawuba, the Chairman, Body of Banks CEOs, said this at the 19th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference in Abuja on Tuesday.
Alawuba said the move was to improve resilience and support the real sector.
He said the banks were working to convert the investments into affordable credit for Micro Small and Medium-scale Enterprises (MSMEs).
He said that a resilient economy was one that designed to adapt to shocks without transferring them to vulnerable citizens.
Alawuba commended the Federal Government and the Central Bank of Nigeria (CBN) for their commitment toward the stability of the economy.
He said the banking sector recapitalisation had better strengthened the capacity of banks to support growth in the country economy.
The Chairman called for fiscal and monetary synergy to unlock productivity in the industry.(NAN)
