The Central Bank of Nigeria (CBN) has stressed the role of directors in navigating the post-recapitalisation landscape, noting that the reform was not simply a regulatory requirement, but a strategic move to strengthen resilience, enhance investors’ confidence and ensure that institutions are positioned to support sustainable economic growth.
The CBN Governor, Olayemi Cardoso, said this in a keynote during an induction ceremony by the Chartered Institute of Directors Nigeria (CIoD), where he spoke on ‘Stewardship in Times of Reform: Consolidation, Confidence and Stability in the Post-Banking Recapitalisation Era’.
Represented by the Director, Banking Supervision Department (BSD), CBN, Olubukola Akinniyi, Cardoso said the CBN has complemented recapitalisation with regulatory measures designed to strengthen governance and empower directors, stating that where governance fails, the regulator must act to safeguard depositors and the economy.
He said the apex bank viewed directors as partners in ensuring that recapitalisation and regulatory reforms translate to stronger institutions and not just larger balance sheets.
