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Lamido
Sanusi, governor of the Central Bank of Nigeria (CBN) has disclosed
that for rescued banks to get their operations right, they must improve
on their risk management, operational capacity, as well as corporate
governance.

Mr. Sanusi, who
spoke to aviation correspondents at the presidential wing of the
Murtala Mohammed Airport, Lagos, disclosed that the banks will only get
better international rating from the likes of Standard and Poor
(S&P) when they heed to the aforementioned advice. “What S&P
said about our banks is that there is need to improve on their risk
management,” he said. “The way to achieve this in Nigeria is for the
affected banks to improve their capacity, improve their assets
qualities, and improve on their risk management as well as their
management and corporate governance.”

According to Mr. Sanusi, the agency recently rated Nigerian banks as
high in risk management with poor regulatory oversight, adding that as
much as he is not worried over the category B rating, the CBN moved
into the rescued banks because it realized the need for them to improve
on their risk management. “How will you expect a high rating of our
rescued banks? What has happened is a confirmation that there is need
for the banks to improve their operations. We moved into the rescued
banks because we realized the need for the banks to improve their risk
management,” he said.