Corporate Governance in the Nigerian Banking system

Much has been said about the recent shake-up in the Nigerian Banking industry. I think it is time to stop critisizing and or supporting the move by the CBN Governor. Focus should be shifted to enforce good corporate governance into the industry.

The CBN should, in 2010, come up with a harmonized corporate governance that all banks should adhere to religiously. After the release of the governance document, the next logical step will be to educate the bankers on the content of the document and what the consequences of violating the governance codes.

I am a strong believer in the Nigerian banking system. A proper corporate governance will foster confidence to the Nigerian people as well as investors.