Banking sector now stronger, insecurity will soon be defeated – Akpabio

Senate President Godswill Akpabio has declared that Nigeria’s banking sector is now stronger and more resilient, while assuring Nigerians that the insecurity confronting the country will soon be defeated.

Akpabio made the declarations while rallying citizens behind President Bola Tinubu’s Renewed Hope reforms, stressing that financial-sector reforms, security operations and citizens’ cooperation were critical to economic recovery and national development.

The Senate President said the era when banks could suddenly collapse and depositors lose their money was over, attributing the development to reforms under the Tinubu administration.

“Today, thanks to the bold vision and strategic foresights of President Bola Ahmed Tinubu’s Renewed Hope Agenda, our banking sector has transitioned from survival to absolute dominance,” Akpabio said.

He said the sector had become one of the safest, most resilient and technologically advanced banking systems in Africa.

According to him, the ongoing consolidation and recapitalisation of banks demonstrate that the administration’s economic policies are yielding results.

Akpabio said the reforms had helped restore investor confidence, protect depositors’ funds and position the economy for long-term growth.

Turning to insecurity, the Senate President acknowledged that security challenges remained a major obstacle to Nigeria’s development.

“Insecurity is a direct enemy of development,” he said.

“No foreign investor will build in an atmosphere of chaos, and no local business can thrive without safety.”

Akpabio said security agencies had shifted from a reactive approach to a more proactive confrontation of criminal elements.

“The security forces are taking the fight directly to the enclaves of criminals, bandits, and insurgents,” he said.

“The strategy has shifted from reaction to proactive confrontation, and I assure Nigerians that insecurity will be defeated.”

The Senate President also called for greater cooperation between citizens and security agencies, saying military hardware alone could not end criminality.

He urged Nigerians to provide credible and timely information to security authorities, describing citizens as a critical source of intelligence.

“Security is a collective civic responsibility,” Akpabio said.

“Our security personnel are working tirelessly on the frontlines, but they rely on actionable intelligence from the communities they protect.”

He urged citizens to end the culture of silence and report suspicious activities to the appropriate authorities.

“If you see something, say something to the proper authorities,” he said.

Akpabio also acknowledged the temporary economic  challenges faced by Nigerians, saying the sacrifices being made were part of efforts to address structural problems and build a stronger economy says the reform has already yielding results 

“We acknowledge the sacrifices of the Nigerian people,” he said.

“President Bola Ahmed Tinubu and his cabinet members are not resting on their oars.”

He said the administration remained committed to implementing policies aimed at creating a more prosperous future for Nigerians.

The Senate President urged Nigerians at home and in the diaspora to support national development and work with government institutions.

“Let us stand united, support our security agencies, and work hand-in-hand with this administration to build the nation of our dreams,” he said.

Akpabio has previously said Nigeria would overcome its security challenges, while the National Assembly has pledged continued support for security and economic reforms under the Tinubu administration.