The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to intensify efforts at improving the operating environment of banks to reduce their lending rates.
Muda Yusuf, director-general, LCCI, told the News Agency of Nigeria (NAN) in Lagos on Thursday that the step was necessary to reduce banks’ cost of running their daily activities.
Yusuf also said that this would help to increase capacity building in banks and boost their profit margins.
He suggested that the government should improve the level of capitalisation of development banks like Bank of Industry and Bank of Agriculture, among others.
