Former Information Minister Jerry Gana on Thursday slammed banks and “gatekeepers” for discouraging domestic and foreign investors from doing business in the country.
Mr. Gana noted that high exchange rates are one of the biggest bottlenecks impacting the ease of doing business in Nigeria, noting that financial institutions are deliberately weaponizing foreign exchange to discourage future investments. He accused them of not making foreign exchange available at home.
He expressed the concern at a press conference announcing the African Biblical Leadership Initiative’s four-day international conference scheduled to begin October 21 in Abuja.
The former social democratic presidential candidate stressed that the federal government has a lot of work to do, but lamented that Nigeria, with its huge population of over 200 million people, remains a good market for potential investors.
He said: “Banks are getting richer and richer. They’re supposed to promote growth. They’re frustrating and most unfair. If I were in charge, I would immediately remove their licenses. Why would you do this to the Nigerian economy? You should be the goal setters, not the ones who derail things. They are too selfish. We don’t want the rest of the world to be lifted out of poverty.”
“Nigeria, with a population of over 200 million people, is a good market. We have the talent and resources for potential investors to put their money into. The truth is, they like to come. I They came while we were there. The influx into Nigeria was huge. But what’s happening is that the gatekeepers of the economy (banks) are coming here with their money. We are taking every possible measure to ensure that this does not happen.
“To encourage investors to bring their money to invest here, we must address key issues and we will soon emerge from the crisis. Our Investments in Nigeria The rate of return is one of the highest. So, I urge all of you in the media to appeal to the gatekeepers. Of course you know them.”
Mr. Gana went on to say that a country without good leadership will soon perish.
The former minister, who is also the National Planning Committee Chair for the ABLI2024 conference themed “African Values-Based Leadership Model”, added that the initiative will focus on developing a new generation of transformational leaders in Africa and Nigeria. Ta. specific.
