Business & Finance

Oba of Lagos to Nigerian banks – ‘Stop Using Women To Mobilise Deposits’


Oba of Lagos, Oba Rilwan Akiolu yesterday called on banks in the country to stop the practice of using women for deposit mobilisation.

He made this call at the World Conference of Banking Institute hosted in Lagos yesterday by the Chartered Institute of Bankers of Nigeria, CIBN.

Oba Rilwan said: “Your methods and approach in sending single girls, married women to go and look for deposits are very very humiliating”. The Oba also called on the gathering of banking experts to brainstorm on how to tackle the rising trend of graduate unemployment in the country, adding that banks should provide financial support to graduates for entrepreneurship purposes.

He said: “The bankers, the chief executive of the banks, should put heads together to see what can be done about all the graduates we are turning out now. I am just writing a paper to the federal government to suggest that last six months of the National Youth Service Corp (NYSC) scheme of one year, should be used to train graduates on ‘do it yourself’ projects, and this can be extended to include the last three months in the university.”

”The government and top bankers should put heads together and see how they can lend these people (graduates), N1 million which they will pay back after one year that they would have done something on their own. The rate at which we are turning out graduates in this country needs to be addressed.”

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