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Vice President Yemi Osinbajo, Senate President Bukola Saraki Yakubu Dogara, Speaker of the House of Representatives and Chief Justice of the Federation, Godwin Onnoghen will on Monday, 12th March, 2018 unveil a book on Banking reform in Nigeria: ‘The law, the prospects and the challenges’.
The book was authored by ‘Bode Ayorinde, chairman, Ad-hoc Committee on Economic Recession and Deputy Chairman, House Committee on Rules and Business.
According to the organiser, all the stakeholders expected at the book lunch including Governor of Central of Nigeria (CBN), Godwin Emefiele; Kemi Adeosun, Minister of Finance; Asiwaju Bola Tinubu; Governor Rotimi Akeredolu of Ondo State and other Ministers and top senior government officials.
“The book Banking reform in Nigeria – The laws, the prospects and the challenges’ traces the historical development of banking business in Nigeria and critically examines all the laws relating to banking since inception.
“Posited to be an invaluable guide to the transformation of the banking industry, the book goes further to chronicle all attempts to reform and rebrand the banking industry in the past, including the most pronounced consolidation exercise of 2004/2005 that shook the industry to its foundations,” the author said.
Ayorinde, a lawyer, eminent scholar and chartered banker, added that the 100-page book, further examines the issue of bank capital requirements stress management in banks and professionalism in banking business.
“The meat of the book is the critical examination of legal and institutional framework for regulation and supervision of banks in 23 other countries and it concludes with an admonition for an urgent reform of the Nigerian banking industry, offering some suggestions that would make the banking industry conform to the world’s best practices and in line with the policies of the current administration of President Muhammadu Buhari.”
Ayorinde, who doubles as member of House committees on Finance, Banking & Currency, Anti-Corruption, Justice, among others, who underscored the pivotal role played by the banking sector, reiterated the need for a comprehensive reform of the industry.
“Wat becomes of a nation’s economic growth and development, security and welfare of her people, to a great extent is directly correlated and connected to the level of development of er banking industry.
“Reforms in all spheres of the nation’s economy continue to e an issue of heightened focus of both Legislative and Executive arms of government in Nigeria.
“A published report of the Works Bank recently recognises Nigeria as one of the 10 most improved economies in the world, lending credence to the fact that this engagement has been yielding dividends,” Ayorinde noted in reference to the recently concluded Legislative Economic Summit held inn November 2017.
KEHINDE AKINTOLA, Abuja
