Banks urged to comply with provisions of ‘88 budget

Banks operating in the country has been urged by the chief of general staff, Vice Admiral Augustus Aikhomu to see the various fiscal and monetary instruments in the 1988 budget in positive light.
Speaking at the opening ceremony of the Continental House, the head office of the African Continental Bank, yesterday, the chief of general staff who was represented by the Lagos State governor, Captain Mike Akhigbe said that compliance with the 1988 budget provisions should come from the banking sector as a matter of course.
The chief of general staff said that where after employing an instrument such as the budget there is the need for individual readjustment. Merchant and commercial banks with the leadership of the Central Bank have the Avernus to initiate such readjustments modifications.
The 1988 budget the chief of staff said, has placed significant responsibilities on the banking sector. The participation of banks in the equity of small and medium scale enterprises would not only supply the required resources for recovery but would allow the upgrading of the management of the enterprises.
The chief of staff said that government hopes that the trust placed on banks in the country will not be misplaced.