Economy: Privare/Public Sector Urge To Interact

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THE 'MILK MAIDS', SYMBOLS OF KADUNA INTERNATIONAL TRADE FAIR, ON PARARADE AT THE OPENING CEREMONY OF THE 36TH KADUNA INTERNATIONAL TRADE FAIR IN KADUNA YESTERDAY.

By; Funmi Aderinto, Kaduna.

The private sector operators in Nigeria have been urged to interact positively on the importance of partnership between them and the public sectors of the nation’s economy.

The Managing Director/Chief Executive Officer of the Nigeria Deposit Corporation (NDIC),  Alhaji Umaru Ibrahim, speaking on the occasion of the NDIC special day at the 38th Kaduna International Trade Fair, emphasized on the  theme: “Promoting Public Private Parternership as Panacea for Accelerated Growth and Development”.

He said “the theme of the trade fair is in consonance with the (NDIC) mandate of protecting the interest of depositors particularly the small savers by ensuring the safety of their bank deposits”.

“Ponzi scheme is the phenomenon of illegal fund managers, popularly called “wonder banks” which have continued to defraud unsuspecting members of public of their hard earned money, because some members of the public have continued to fall victims of their fraudulent practices”.

He warned members of the public against patronising them as deposit taking financial institutions. He draw attention to dangers involved in keeping large sums of money either at home, market shops and other unsafe outlets.

He also call on the Kaduna State Government and indigenous investors to establish more MFBs in the state in order to bring formal banking service closer to the grassroots.

“I urged public and private sector in Nigeria and their partners to positively reciprocate this gestures particularly the small servers by ensuring  safety of their bank deposits,” he said.

Deputy Director Communication Public Affairs Unit, Khalil Birichi who represented the Managing Director of NDIC, had advised the media to use their medium to enlightened the general public on the importance of saving their money in banks.

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