Despite the crisis being experienced in the nation’s banking industry, the Central Bank of Nigeria (CBN) has said that the future of the industry is very bright as investment in the banks remain very good and attractive.

Governor Sanusi Lamido Sanusi, of the Central Bank of Nigeria who made this remark in an interview with journalists, said that in the long-term and given the prospect of the nation’s economy, investment in the banks is still very attractive.
He said the banking industry is coming out of a crisis, adding that many of the banks that have already had their first quarter result performed well.
Sanusi noted that BankPHB which was one of the banks bailed out by CBN last year recorded good performance a month ago.
On the negative profit posted by banks in December 2009, he said that the industry is now in an environment where banks have recognized that it was not a crime to make a loss at the end of a financial year.
“We are now in an environment where banks have recognized that it is not a crime to make a loss. If you book a loan and because of unfavorable environment the loan becomes non- performing, make provision for it, disclose it honestly and market will not punish you,” he added.
(Source:leadershipnigeria.com)