Sanusi disclosed that going forward, there must be recognition that Nigeria’s Vision 20:20 ambitions will remain an illusion without the country being able to reposition the banking system.
In that light, the CBN, said the apex bank chief, has gone through a comprehensive process of self-introspection and organisational review facilitated by independent third party consultants. 

“One of the results of this process is a far-reaching organisational re-structure, which has created a structure that is more closely aligned to our mandate and strategy; reflective of global best practice and is more operationally efficient” he said.
The Governor also disclosed that the CBN is putting greater emphasis on enforcement of a Code of Corporate Governance for operators and regulators alike, adding that it will be adopting a number of the corporate governance standards on market discipline articulated in the recently published Walker Review.

He added that the monetary authority is considering imposing term limits for bank chiefs executives “In the hope that CEOs who have been at the helm of affairs for long will voluntarily start succession plans immediately.”

Sanusi identified the key challenges facing credit bureau in Nigeria as lack of a Unique Customer Identifier as well as the need to get the buy-in of a key number of stakeholders who will sign-up to using the bureau.

Very soon, he said, the CBN will issue circular directing banks and other financial institutions to have data exchange agreements with at least two licensed credit bureau and compulsorily obtain credit reports from them on all current and intending borrowers.

He added that the apex bank would also ensure that risk management and corporate governance tenets are strictly adhered to by licensed credit bureau and will issue guidelines to that effect.

Bokoharam:

“It is sad for me to admit that since consolidation in 2005, the Central Bank did not conduct a single routine examination of the 14 banks allocated to it…. For a long time the CBN underestimated the risks building up in the system, and the gaps in our consolidation were such that we did not have a clear view of the risks and implications of activities outside our own regulatory remit being carried out by the subsidiaries.” Sanusi said.

http://www.thisdayonline.com/nview.php?id=163716


Today, over 10,000 (still counting) bank workers have been sacked, because Soludo was more interested in ‘egunje’ and shady deals in banks than his job of policing them. Nigerians, know the truth. Let's be armed with the correct information, not hype. This man is evil. I pray he doesn't sell off Anambra State.

Zak:

Hello guys,

How could we be so naive and short-sighted?
Why must we crucify Soludo?

Following the current global economic meltdown,remember that without Soludo's consolidation,there would be no banks left standing for Sanusi to audit.Sanusi would have inherited failed,distressed banks.Just as in America and Europe.

Like it or not,Soludo was and remains a genius.If he were still CBN Gov,he would have handled this crisis in a manner that would not put our economy at risk.How many bank workers lost their jobs during Soludo'time?
How many are out of job today courtsey of SLS?

I'm not saying that Soludo is a saint,but he remains the best thing that has happened to our economy.That's why we need him to come home and help transform our state.

The PROFESSOR had 5 offers from intl.organizations.But he turned them domn.He doesnt want to be a global economic and academic icon when his own state is in economic and political ruins.Charity they say begins at home.
So,at least we owe him our support and understanding.

In conclusion,could you pause for a second and think of what would have happened if Nigerian banks were not consolidated in 2005? If you answer this question honestly,I put it to you that you would not find the voice to insult the erudite professor again.

Thank you.

Like it or not,Soludo was and remains a genius.If he were still CBN Gov,he would have handled this crisis in a manner

Zak:

Hello guys,

How could we be so naive and short-sighted?
Why must we crucify Soludo?

Following the current global economic meltdown,remember that without Soludo's consolidation,there would be no banks left standing for Sanusi to audit.Sanusi would have inherited failed,distressed banks.Just as in America and Europe.

Like it or not,Soludo was and remains a genius.If he were still CBN Gov,he would have handled this crisis in a manner that would not put our economy at risk.How many bank workers lost their jobs during Soludo'time?
How many are out of job today courtsey of SLS?

I'm not saying that Soludo is a saint,but he remains the best thing that has happened to our economy.That's why we need him to come home and help transform our state.

The PROFESSOR had 5 offers from intl.organizations.But he turned them domn.He doesnt want to be a global economic and academic icon when his own state is in economic and political ruins.Charity they say begins at home.
So,at least we owe him our support and understanding.

In conclusion,could you pause for a second and think of what would have happened if Nigerian banks were not consolidated in 2005? If you answer this question honestly,I put it to you that you would not find the voice to insult the erudite professor again.

Thank you.

Zak:

Hello guys,

How could we be so naive and short-sighted?
Why must we crucify Soludo?

Following the current global economic meltdown,remember that without Soludo's consolidation,there would be no banks left standing for Sanusi to audit.Sanusi would have inherited failed,distressed banks.Just as in America and Europe.

Like it or not,Soludo was and remains a genius.If he were still CBN Gov,he would have handled this crisis in a manner that would not put our economy at risk.How many bank workers lost their jobs during Soludo'time?
How many are out of job today courtsey of SLS?

I'm not saying that Soludo is a saint,but he remains the best thing that has happened to our economy.That's why we need him to come home and help transform our state.

The PROFESSOR had 5 offers from intl.organizations.But he turned them domn.He doesnt want to be a global economic and academic icon when his own state is in economic and political ruins.Charity they say begins at home.
So,at least we owe him our support and understanding.

In conclusion,could you pause for a second and think of what would have happened if Nigerian banks were not consolidated in 2005? If you answer this question honestly,I put it to you that you would not find the voice to insult the erudite professor again.

Thank you.

Bokoharam:


I get surprised when pple talk  like this. I think one or more of these is the reason for such:

1. Ignorance

2. Engrossed in politics that they have lost their sense of reasoning

3. Soludo is their relative or close acquaintance

4. People that hate Nigeria & her progress

My bros, you need to review your line of thought. Soludo will sell off Anambra to his godfathers and you will come back to NL shouting 'ole!' 'ole!'

Do you know what this man's 'egunjeristic' attitude & tendencies did to our economy? Do you know he had illegally sold off Spring bank to PHB/his friend, Atuche and pocketed the money before the sell-off was reversed?. Tell me, was that forced merger justifiable?

Did you know that a whopping N6m was spent these few bank CEOs to loby & make sure Soludo does not leave? Why would you want to retain him if he is policing you the way it should be? He only removed his toga of chief surveillance officer to chief playmate.

Pple talk consolidation. Yes, good thinking, but he lost it along the line. Before the consolidation, banks had positive shareholders, no matter how small. Today, banks are having hundreds of billion as negative shareholders' funds.

Think again.