Lawmakers will investigate the profitability of banks before switching focus to cement makers as the government seeks to rally companies behind its efforts to revamp the economy and spur growth. Parliament’s finance and economic development commission is set to start meetings with the central bank governor, the finance minister and industry representatives from April. It will aim to deliver its findings, which will include a probe of the state-owned pension fund manager, before the end of the year. Focus will be paid to lending margins relative to the central bank’s benchmark rate; fees and commissions; the banks’ contribution to job creation; their commitment to fair competition; as well as their social and corporate responsibility programmes.
SOURCE: BUSINESS DAY LIVE
More Stories
A Mission to Rehabilitate Nigeria’s Waterways One Beach at a Time
Dumpster Diving on the Rise Among Ghanaian Kids
Patience Led Researchers to this New Feat
Burundi Athlete Shatters Records and Perceptions
Zimbabwe’s Greener Pastures Lie Dormant
An Abandoned Mine in Cameroon Poses more Problems for Villagers
New South Sudan Parliament can ‘Infuse Urgency’ into Peace Process
France Says it Has Eliminated the Head of IS in the Sahel
A Million Learners Affected by Kidnappings in Nigeria
Seven Africans Make Time Magazine’s List of the 100 Most Influential People in the World for 2021
Richard Branson’s Oasis in Morocco Gets Top Prize
Tunisia’s Cork Industry Damaged by Wild Fires