Tightening the bolts in banks’ corporate governance structure

FOR any institution, be it banks or other firms to run smoothly and profitably, the corporate governance structure must be complied with. The essence is to see that things are done in a proper manner.

It is the lack of all these that prompted the Central Bank of Nigeria (CBN) to remove the Managing Directors of some of Nigerian banks last year.
Ever since then, the apex bank has been battling to tighten the bolts in banks’ governance structure.

For instance, on Monday, this was one of the concerns of the CBN Governor Sanusi Lamido Sanusi where he delivered a paper at the Bank Directors’ stakeholders’ forum.
Addressing the bank directors at the forum, Sanusi stated that effective corporate governance had been established to be one of the prerequisites for fostering systemic stability, achieving and maintaining public trust and in broader sense confidence in the banking system. 
For this reason, he stated that issues related to corporate governance had continued to attract significant attention.

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