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Are Nigerian Banks Helping Nigeria's Development? - Business - Nairaland

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Are Nigerian Banks Helping Nigeria's Development? by aloziedaya(m): 5:14pm On Apr 30, 2017
In every economy obviously, financial institutions play vital roles in the development of the country. One may question to what extent Nigerian financial institutions carry out this obligation. From financing small business ideas to financing contracts, providing platforms for savings and safeguarding valuables. Also banks and financial institutions are vital employers of labour.
Recently banks in Nigeria laid off huge number of their workers and in the first quarter of this year (January to March) declared billions of naira as profit, some 20 billion, some 40 billion etc. It's clear that these sacked staff can't take home a quarter of a billion naira as their salaries in 3 months. Banks can hardly finance a business idea from you except you've a collateral higher in value than what you ask from them.
Knowing that every nairalander is a bank customer, I ask in what ways do you think our banks are helping the development of Nigeria.
Re: Are Nigerian Banks Helping Nigeria's Development? by Nutase: 5:34pm On Apr 30, 2017
The question should start with Are not is?

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