The Katsina State government, through the office of the Special Adviser on the Department of Banking and Finance to the State Governor, Bilkisu Suleman Ibrahim, has taken steps to streamline the operations of commercial banks in the State.
She made this known on Tuesday, while speaking during a meeting with the commercial banks managers in Katsina.
The aim was to strengthen the relationship between the government and commercial banks to create a thriving financial ecosystem.
She said, “I am delighted to stand before you this morning as we take this important step in streamlining our operation.
“As you are aware, the Department of Banking and Finance is responsible for handling Katsina State Government activities that relate to Banking and Finance, including taking care of all State Government shares, investments and commercial bank activities.
“Today, I want to focus on this essential part of our financial system. Commercial banks, play a vital role in our economy, providing a wide range of financial services to individuals, businesses and the Government. We are aware that to date, the communication between commercial banks in the State and the Department of Banking and Finance needs to be reinforced and strengthened. The Department of Banking and Finance and commercial banks share a common goal to promote financial stability, security and growth in the State. By working together, we can achieve this goal and create a thriving financial ecosystem.
“Therefore, at this juncture, I would like to make it clear that the Department is the medium through which all communications between the State Government and the commercial banks should follow the vice versa, so if any issue arises or grievance between the Government and any commercial bank, it has to come through the Department,” according to her.
The Katsina governor’s aide further stated the benefits of the cordial working relationship between them to include improved financial literacy of inclusion. Increase access to financial services, especially for the underserved
communities, among others.
She further explained that the Department of Banking and Finance will provide guidance and oversight, while commercial banks can share their expertise and experience.
Ibrahim again added, “Excellency, the Executive Governor is always willing to support any activity that will bring development to the State. So let us work together to achieve our common goals and create a brighter financial future for the citizens of Katsina State.
Responding, Chairman, Chartered Institute of Bankers Katsina State, Sani Magaji, said banks are partners in all financial services of every government; hence, he applauded the State government for the initiative.
He noted that Katsina State is the only State in the federation that created a platform for banks to brainstorm with the government to champion financial services, just as he called on other State governments to take a cue from the Governor Radda-led administration.
He said, “It was a great development to create a department that will look after the affairs or serve as a mediator between commercial banks and the State government. This is an exceptional initiative that is yet to be replicated by any State.
“This is the only State that created a specific department that has so many activities that are associated with financial inclusion, the ability to drive so much development to the State in terms of financing, and look after the investment of the State, among others.
“Subsequently, the leadership of the current administration under the SA is quite an impressive initiative because we never had it so good in the past, and we know we have had successive leadership which banks have never enjoyed any of these. Sincerely speaking, we are congratulating you for setting it early to harmonise the existing relationship between the State government and commercial banks, because banks are supposed to be partners in progress in terms of many financial interventions to the State, because banks are a medium of economic development. We use our resources to fund businesses and other government financial programmes meant for the development of the State.
“Congratulations once again for creating this platform for us to brainstorm and look at areas we can be able to improve. On behalf of the banking community in Katsina State, we are willing to offer all the necessary contributions and support needed for you to be able to achieve remarkable development”, Sani Magaji said further.
