Central bankers and financial leaders have called for a reset in leadership culture built on trust, accountability, and shared values.
At the 2025 Culture Factor Conference held on Friday in Victoria Island, Lagos, senior central bankers from Nigeria, Uganda, and Rwanda underscored the link between institutional culture, leadership integrity, and effective monetary policy delivery.
Representing CBN governor Olayemi Cardoso, Damina Makut, acting director of human resource management, said the apex bank was deepening its culture reform to build trust and agility within the institution. “We want a culture that helps every staff be proud of Nigeria and contribute meaningfully to the bank’s mandate,” he said. “People must trust the leadership when it speaks. If that trust is lost, credibility is lost.”
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Prisca Ampunuza, director of Strategy and Innovation at the Bank of Uganda, said her institution had introduced a stepwise transformation roadmap after a culture diagnostic revealed weaknesses in communication and collaboration. “We adopted a structured change management plan—coaching leaders, training staff, and identifying resistance points—to move gradually from the current to the optimal culture,” she explained.
Rita Owera of the Bank of Rwanda added that “a culture of credibility starts from leadership behaviour,” noting that consistent engagement and transparent decision-making are vital for sustaining trust within central banks.
Her colleague Agnes Ibara said, “Data and evidence are critical. Culture must be measured and managed just like any policy instrument.”
Okechukwu Okere, managing partner of The Culture Factor Africa and Vice President for The Culture Factor Group Canada, was the chief host of the global conference.
In his welcome address, he emphasised the importance of building resilient and effective work cultures in both the public and private sectors, enabling organisational success and supporting socioeconomic development.
Egbert Schram, Global CEO of the Culture Factor Group, reiterated this view, noting that his company is now helping organisations navigate work culture improvements using advanced technology.
The Culture Factor Group deploys AI and other tools to help measure cultures and sentiments in organisations, indicating what needs to change to ensure those organizations do not demotivate their people and fail.
