‘More bank CEOs will go to jail’
CBN governor, Lamido Sanusi, yesterday
in Abuja, warned that more chief executive officers (CEOs) of banks
will join Cecilia Ibru, former Oceanic Bank CEO, in jail.
Mr. Sanusi said this during a breakfast meeting of financial regulators in Nigeria at the 16th Economic Summit in Abuja.
He was reacting to a suggestion that
justice and fair play were not applied in the sacking of some of the
former bank CEOs, and dismissed insinuations that the banking reforms
were biased.
“There was a reason for every action taken. The reforms carried out in the banking sector were not a northern agenda,” he said.
He further revealed that five banks will soon get new owners, if conclusions in the processes were completely carried out.
Integrity in finance
Other speakers also emphasised the need
for honesty in the financial industry. Arunmah Oteh, director general
of the Security and Exchange Commission (SEC), called for high levels
of integrity in the capital market, to restore confidence amongst
investors.
She said following scandalous reports
of share manipulation under the previous SEC boss, the commission now
cooperates with the Economic and Financial Crimes Commission (EFCC) and
the Central Bank to check wrongdoings in the financial market.
Fola Daniel, commissioner of insurance
at the National Insurance Commission, said that his organisation had
installed measures like the proper monitoring of insurance companies,
in a bid not to experience what happened in the banking sector.
He also said that they have tried to create awareness in order to
change the wrong perception about the insurance industry in Nigeria.
Leave a Reply