The 2024 Bankers’ Dinner and Awards Night, organised by the Abeokuta Bankers’ Committee, provided a platform for a call to action for the banking sector to develop innovative product offerings tailored to support Small and Medium-scale Enterprises (SMEs) and address local economic needs. Strengthening partnerships with Development Finance Institutions (DFIs) was also emphasised as a critical strategy. The event took place on Friday 20th December 2024 at Reception Centre of Olusegun Obasanjo Presidential Library (OOPL), Abeokuta, Ogun State.
Delivering the keynote lecture titled “Recalibration and Realignment of Economic Reforms—Impacts on the Economy and The Bankers’ Roles,” Professor Evans Osabuohien, Founding Chair of DePECOS Institutions and Development Research Centre (DIaDeRC), Nigeria, highlighted the urgent need for banks to actively support economic reforms and sustainability initiatives in Ogun State. He was joined by Dr Solomon Okunade (DIaDeRC, Research Lead) and Mrs Patience Evans-Osabuohien (DIaDeRC Admin/HR). It was also an interesting moment to meet an African Scholars Mentorship Network (ASMN) Premium Member (Dr Kingsley Imandojemu)
Professor Osabuohien called on the government to create a more conducive business environment and prioritise transparency in public finance. He also urged the private sector to collaborate with banks to leverage the numerous business opportunities in the state. “Access to finance is critical for sustainable growth,” said Osabuohien. “For Ogun State, achieving this requires recalibrating and realigning its economy toward sustainable development goals.”
He identified specific roles for banks, including promoting green financing and renewable energy projects, supporting local financial ecosystems through microfinance and risk-sharing mechanisms, and funding digital transformation initiatives like tech hubs and e-commerce platforms. Additionally, partnerships with higher education institutions (HEIs) were highlighted as essential for fostering innovation and research.
While outlining the potential of banking reforms, Osabuohien identified challenges hindering SME growth, including high borrowing costs, inflation, low financial literacy, distrust in the banking system, and infrastructural bottlenecks. He proposed solutions such as: government collaboration for policy reforms, effective stakeholder engagement, financial literacy campaigns, and investments in technology to reduce operational costs.
In his remark, the Mr Malik Ademola, the Branch Controller, Central Bank of Nigeria (CBN), Abeokuta Branch, intimated the audience about the event mentioning that the Abeokuta Bankers Committee comprise the CBN, and the Banks in Ogun State. He also appreciated the Keynote Speaker for his contribution to the sector and sharing his wealth of knowledge. In addition, the event also to celebrate outstanding performances within the banking sector in 2024. The Overall Best Bank of Year 2024 went to Zenith Bank, with Access Bank and GTCO (Guaranty Trust Company) having tie as the 1st Runner Up, while the 2nd Runner up went to Sterling Bank.
Ten other awards were given other in other performance indicators, ranging from Most Outstanding Bank in Cash Deposit Requirements, Best Bank with ATM Functionality and Best Bank in Volume Deposit Transactions, Most Outstanding Bank in Currency Movement and Compliance with Cash Withdrawal Requirements awards, Best in Customer Complaint Resolution and Excellent Customer Service Delivery, Best Bank in Adherence to Clean Note Policy, among others.
The event was attended by notable figures, including the Ogun State Commissioner for Commerce, Industry, and Trade (Mr Adebola Emmanuel Sofela), who represented the Government of Ogun State. The Branch Controller of the Central Bank of Nigeria (CBN), Abeokuta Branch (Mr. Malik Ademola), and his Ekiti State counterpart were also present, along with heads of security agencies in the state. The event underscored the critical role of the banking sector in driving economic reforms, SME growth, and sustainable development in Ogun State.
After the event, on Saturday 21st December 2024, the DIaDeRC team used the opportunity to take a tour of the beautiful ambience of the Olusegun Obasanjo Presidential Library (OOPL) pay visiting notable areas such as wildlife park, Presidential Library, Museum, Boat Ride and Youth Development Centre. It was a great moment to reflect how knowledge could be used to create legacy and generational impact.
One Response
Waooo this is great. Much have been read and learnt on the way forward for SMEs and Banking Institution alliance