The Bank Directors Association of Nigeria has called for collaboration between lawmakers, regulatory authorities and the banking sector operators in the formulation and review of banking policies.

According to a statement from the association, the call was made when the Chairman of the Board of Directors, Mr Mustafa Chike-Obi, led a delegation to the Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Mukhail Adetokunbo Abiru.

BDAN, in the statement signed by its Chief Executive, Adebukola Orenuga, noted that it recognised the pivotal role of regulatory bodies and legislative institutions in shaping the banking landscape.

It stated that its advocacy efforts aimed to ensure a conducive legal framework and regulatory environment that promotes innovation, stability, and growth within the sect

The statement partly read, “During the advocacy visit, discussions revolved around policy review and the importance of collaboration between the banking industry, the legislature and regulatory bodies, thereby, emphasising the need for dialogue, transparency, and mutual understanding to address emerging challenges and opportunities.

“Senator Mukhail Adetokunbo Abiru and other members of the committee welcomed BDAN’s initiative to engage with the Senate committee, acknowledging the significance of constructive dialogue between policymakers and industry stakeholders.

“As BDAN continues its advocacy efforts, the association reaffirms its commitment to working closely with regulatory bodies, legislative institutions, and all stakeholders in the Banking industry to promote a robust and resilient financial ecosystem that serves the best interests of all Nigerians.”