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Most banks lack competence in the aviation sector – Expert

Channels Television  
Updated September 27, 2012

Speaking on the finicial crises rocking the Nigerian aviation industry, an aviation expert, Mr Chris Aligbe, has declared that commercial banks in  the country, see the aviation sector as every other business and therefore treat it as such due to their lack of competence in aviation.

This according to Mr Aligbe, who was a guest on Sunrise Daily, has led to the inability of the fiancial institutions to analyse proposals from the aviation sector, as he further allege that the banks also fail to engage aviation consultants to analyse or interpret the proposal as the case may be. This he argues has led to the faltering of the very essential sector of the Nigerian economy.

The aviation expert also noted that the Central Bank of Nigeria (CBN) has no responsibility for the aviation sector in any way as the apex bank has the sole responsibility of regulating the financial system of the country, this he argues is not in any way related to the aviation sector.

On the intervention fund provided for the sector by the CBN, Mr. Chris explained that the move by the CBN is of good intentions as it remains within the ambits of its primary duty but he recalled that most business relationship between the banks and the aviation sector doesn’t end well.

Watch the rest of the interview for more.