• Former Minister of State for Finance, Bashir Yuguda, has accused banks of contributing to the destruction of Nigeria’s economy.
• Yuguda made this assertion while speaking at a workshop organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
• He criticized the banking sector for facilitating the siphoning of funds out of the country through money laundering and other illicit financial activities.
• Yuguda emphasized the need for banks to prioritize ethical practices and compliance with regulations to rebuild the country’s economy.
• He also urged the Central Bank of Nigeria (CBN) to enhance its regulatory oversight to curb unethical practices within the banking industry.
• Yuguda’s remarks highlight concerns about the role of financial institutions in Nigeria’s economic challenges and the importance of regulatory measures to address these issues.
