The Central Bank of Nigeria (CBN) wants more powers to be invested on the Chartered Institute of Bankers of Nigeria (CIBN) to de-certify bankers who are found guilty of unethical and unprofessional practices.
Joseph Nnanna, deputy governor, financial system stability, CBN, said this on Friday after the interactive session with the CIBN and the first category of the investees who are to be honoured the next day at the investiture programme organised by the Institute.
Nnanna was concerned that recent incidence in Nigeria has given bankers bad name, which he desires bankers get back the good names.
“Every honour is a recognition, both the honouree and to the institution. I have always had a high regards of CIBN. I had been a member of CIBN, board member for a long time. I have also been on various committees. We want the bankers get back the good names they had in the past. Unfortunately recent incidence in Nigeria has given bankers bad name but that has to stop”, Nnanna said.
Segun Ajibola, president/chairman of council, CIBN, said there are 12 investees recommended by the board of fellows and approved by the governing council. “So we just had interactive session with them to familiarise ourselves, to let them know what the institute stands for, what are key initiatives, what are the areas they could be of assistance to pursue the mandate of the institute”, he said.
Speaking further, Ajibola said they had a meeting of mind on how they can work together, collectively pursue the Institute’s mandate and lift banking and finance practice to the next level in Nigeria, and West Africa, among others.
“We had very useful dialogue, they exchanged ideas and made very useful suggestion regarding the expectations of the institute, areas they need the institute to come in on its mandate and make contributions in banking and finance in Nigeria. The institute also dialogue with them on the expectations in the areas where they can contribute towards meeting the goals of the institute”, Ajibola said.
Asked if the institute is looking at defellorising some members who are found wanting ethically in banking sector? He said “we have zero tolerance. The problem is if they are not reported to us, we become helpless. When they are reported, we have investigative panel, disciplinary tribunal that has the power of the high court. So if someone is found wanting in the area of ethics and professionalism, and is proven to have committed that infraction, the minimum he or she can suffer is to be listed from the register of members. In addition to that we may hand over such a person for prosecution”.
Responding to questions on the order by the Federal Government seeking to confiscate all funds in accounts without Bank Verification Number (BVN), Ajibola said the body of the banks CEOs is handling the issue together with the Institute so that the process will be streamlined and the rules will be so clear and all banks customers will not lose confidence in the system.
“The engagement is still on, areas that are not clear will be streamlined so I can assure you that the issue will be resolved amicably but the intendment of the rule is noble, nobody can criticise the intendment because it is to ensure transparency, reduce to the barest minimum, corruption and unethical practises especially through banks”, Ajibola said.
