Business
CBN, CIBN To Partner On Financial Sector Stability
The Governor of Cen
tral Bank of Nigeria (CBN), Mr Godwin Emefiele said the apex bank was ready to partner with the Chartered Institute of Bankers of Nigeria (CIBN) on the financial sector stability.
The bank governor state this while briefing newsmen in Abuja at the weekend.
He said the apex bank under his leadership will strategically pursue a gradual reduction in key areas of interest rates as well as include the unemployment rate in the monetary policy decision.
Emefiele said that the exchange rate stability would be maintained by the bank’s policy and foreign exchange reserves shored up.
He emphasized that the CBN will not outsource supervision and examination of banks in order not to compromise the stability of the financial system.
The CBN Governor said that outsourcing the function of bank supervision and examination may compromise the stability of the financial sector system.
Emefiele rather explained that the CBN will continue to partner with the CIBN and other stakeholders within the financial sector to ensure that the competency framework is practical and realistic to the benefit of the banking industry.
Also speaking at the media chat, CIBN president, Mrs Debola Osibogun said the policies CBN Governor were geared towards improving banking practice and financial system stability.
Osibogun said such initiatives of the CBN are comparable with what obtained in the developed economics adding that the banking industry in the country was better position for efficiency performance and support business and the economy.
She said the new code of conduct in the Nigerian banking industry approval by the Bankers committee was a strategic initiative to promote good banking practice and ethnics.
The CIBN Chief Executive said the objectives of the code of conduct include guiding every member of the institute both individual and corporate in meeting obligations to customers, stakeholders and improving banking standard in terms of performance and service delivery.