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CBN To Reserve Bank Management & Board Seats For Women - Business - Nairaland

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CBN To Reserve Bank Management & Board Seats For Women by mukina2: 10:45am On Feb 08, 2012
The Central Bank of Nigeria on Tuesday said it was currently working with banks to ensure that a certain percentage of the position of senior management and board members were reserved for women.

It also said that it would establish a “special fund” by the end of the year to empower Nigerian women operating in the Small and Medium Enterprises sector of the economy.

The Governor, CBN, Mr. Lamido Sanusi, who disclosed these in Abuja during the 6th annual microfinance conference and entrepreneurship awards, noted that the fund would be disbursed to the women at a single digit interest rate.

The conference with the theme, “Refocusing microfinance for entrepreneurship development in Nigeria,” was aimed at creating a microfinance environment that would respond positively to the demand for financial services by micro entrepreneurs in the country.

It had in attendance President Goodluck Jonathan, governors of Akwa Ibom, Bauchi, and Kano states, among others key players in the financial sector.

Sanusi explained that the move to empower more women was aimed at boosting the Federal Government’s programme on job creation and poverty alleviation.

The CBN boss also hinted that the Bankers’ Committee had declared the 2012 financial period “a year of women empowerment,” adding that a sub-committee had been formed to enable Deposit Money Banks achieve that objective.

He said, “The drive towards electronic payment systems, beginning with cash-less Lagos, is only the initial pointer to the fact that business would be a nightmare for Small and Medium Enterprises that do not embrace the web in Nigeria.

“The Bankers’ Committee has made 2012 the year of women empowerment. A sub-committee on women empowerment has been formed. We are working at establishing a special fund by the end of the year that will provide credit facilities to women at a single digit interest rate.”


http://www.punchng.com/business/business-economy/cbn-to-increase-number-of-women-on-bank-boards/
Re: CBN To Reserve Bank Management & Board Seats For Women by sunkoye: 11:05am On Feb 08, 2012
how does that affect voodoo banking and economy?, mitcheeew angry
Re: CBN To Reserve Bank Management & Board Seats For Women by Seun(m): 11:09am On Feb 08, 2012
I'm a feminist in many ways, but affirmative action is a big mistake. Women should not be hired just because you are trying to fill a certain quota. They should be hired because they are good. If we want more women in management, we should provide them with management training and career advancement training so they can convince their bosses to promote them on merit. Affirmative action is a lazy idea that doesn't help society.
Re: CBN To Reserve Bank Management & Board Seats For Women by edoyad(m): 11:20am On Feb 08, 2012
The only board those woe-men need to be on is the kitchen board of the banks' cafeteria. Let them go home and cook jare  angry angry
Re: CBN To Reserve Bank Management & Board Seats For Women by highland(m): 11:26am On Feb 08, 2012
Gender sensitivity should be avoided when it come tom leader responsibility, competence should be the highest criteria.
Re: CBN To Reserve Bank Management & Board Seats For Women by emmatok(m): 11:26am On Feb 08, 2012
It should be on  merit.

Remember Cecilia Ibru.
Re: CBN To Reserve Bank Management & Board Seats For Women by jmaine: 11:41am On Feb 08, 2012
What manner of tokenism . . .it should be on merit and if majority are the ladies  . .then so be it . . .
Re: CBN To Reserve Bank Management & Board Seats For Women by Seun(m): 11:53am On Feb 08, 2012
Another effect of this sort of policy is that senior female managers of banks won't be respected anymore,
because people will feel they only got the job because their company was trying to fill the female quota.
Re: CBN To Reserve Bank Management & Board Seats For Women by gempo(m): 12:04pm On Feb 08, 2012
Please let all appointments be on the basis of merit whether man or woman and not on any gender equality stuff.
Re: CBN To Reserve Bank Management & Board Seats For Women by Cyberfreak(m): 12:23pm On Feb 08, 2012
Hmmm. I am an advocate of fair treatment and justice for all and I think women should be appointed to certain positions because they can do the job in that position properly, not because they have female parts.

The drive towards electronic payment systems, beginning with cash-less Lagos, is only the initial pointer to the fact that business would be a nightmare for Small and Medium Enterprises that do not embrace the web in Nigeria.
I am starting to consider entering mobile money business. . . .
Re: CBN To Reserve Bank Management & Board Seats For Women by Blackteeth(m): 1:23pm On Feb 08, 2012
Am against women empowerment via placements in high positions because it doesn't help to distribute wealth among the population. Wealthy women stay single or still marry wealthy men and depend on them therefore accumulating wealth for themselves. But if you give a man that position he can marry a poor jobless lady and pull her out of poverty. But this is not the case with a wealthy woman in that position.
Women should simply be in the kitchen pounding fufu and changing the baby's nappies at home.
Re: CBN To Reserve Bank Management & Board Seats For Women by Samoo01: 1:25pm On Feb 08, 2012
Another day, another amateur hour at Abuja, another irrational and unpatriotic political fiat from a man appointed to head the central bank based on a certificate obtained from the Madrasah.
Re: CBN To Reserve Bank Management & Board Seats For Women by Nobody: 1:31pm On Feb 08, 2012
Women or not. . .All that's needed is the right person at the right place. How does placing a Woman in the Board reduce poverty?

What's with all these Low-Level thinking? undecided undecided
Re: CBN To Reserve Bank Management & Board Seats For Women by manny4life(m): 2:04pm On Feb 08, 2012
Unfortunately, I'm not claiming pro women either, but I disagree with most of yall on here, women empowerment is very important because society treats them as "minority" which isn't right. That a certain % (probably single digit) is reserved for women candidates doesn't mean that there aren't women who are qualified to take up such position, it just means that it has been reserved for a certain group (women) who meet up qualifications.

I strongly believe that while "merit" is an important factor, other "protected class" shouldn't be ignored; it should also play an important deciding factor during appointments. Protected class include Sex, Religion, Race, etc because without this in place, particularly in a diversified working environment, you will run into several lawsuit on the basis of discrimination.
Re: CBN To Reserve Bank Management & Board Seats For Women by mpmp: 2:42pm On Feb 08, 2012
[size=14pt]Female Boko Haram: Suicide Female Bomber Arrested In Abuja[/size]
whatever a man can do, a woman can do.

What could have been another Boko Haram tragic incident this year, was averted over the weekend, by staff of a private security firm, Encouragers Security company Limited, thwarted attempt by a female suicide bomber, suspected member of the deadly Islamic sect, Boko Haram from gaining entrance into the complex of the Federal Capital Territory Administration (FCTA) with explosives.

The incident which happened on Friday, last week, during working hours , send fears into the spine of thousands of workers who were aware of the development making them to hurriedly close from work before the usual 4 pm official closing hours

Daily Champion learnt from reliable sources that the slim fair -in complexion lady in her 20s who hails from Alkaleri Local Government Area of Bauchi State, where the FCT minister also hails from was arrested by the security men at the gate with two explosives items.

The FCTA complex which the sect had attempted bombing houses the offices of the FCT Minister, Senator Bala Mohammed; Minister of State FCT Oloye Olajumoke Akinjide and Minister of Agriculture and Rural Development Dr. Akinwunmi Adesina as well as thousands of other workers.

According to the source, the fairly looking lady had arrived at the area 11 around noon from Dei-Dei a suburb of the FCT where she passed a night upon arrival in the FCT.

She was said be a first time visitor to Abuja and could not locate the FCTA therefore, had to a hire a taxis that brought her to the target.

When she arrived, she found the security arrangement hard to penetrate and she quickly contacted her co travelers in the ill fated project but she was told to wait then, she decided to be loitering waiting for the next instruction from her sponsors.

Sources further gathered that the plot by hers sponsors was to keep her till their expected arrival from Kano after the 2 pm Jumat prayers would have been over and then, instruct her to fellow the crowd that usually prays outside the premises inside unchecked, to pave way for them to effectively detonate the bomb.

According to the source when the next instruction from her sponsors delayed in coming, the visibly worried attempted in entering the complex through the gate meant for only motorist then she was asked by the private guard where she was going.

She could not satisfy the guard about her mission with her poorly spoken English which made the security man to suspect her motive.

She was said to have managed to inform the security man that she was waiting for her brother, at this point the guard ask her to identify herself and she said she was coming from Kano this made security guy curious as the bomber was quickly arrested.

Our source told us that the lady confessed that when the JUMAT ended she actually became unhappy and afraid that she was going to kill so many Muslims who came out from the FCTA premises to pray.

Our correspondent further learnt that when the FCT Minister heard about the incident he ordered that the lady be brought to his official residence where he was at the moment and upon confession of the planned attack the female bomber was handed -over to the Police Special Anti- robbery Squared (SARS).

While she was being detained at the SARS office in Guzape, District, her sponsors gut wind of it and made attempt to bomb the SARS office in order to prevent her from revealing important information.

All attempt by our correspondent to speak with the FCDA Divisional of Police Officer as well as the Special Assistant to the FCT Minister on security proved abortive as several calls put across to the DPO phone were not answered.

In the same vain Prince Shield Nwazuruahu SA security to the minister was said to be in a crucial meeting by his staff when Daily Champion visited his office.

Meanwhile, Daily Champion gathered that an emergency security meeting which was held yesterday took a decision that no staff should stay within the office complex beyond 6 pm.

The circular entitled: Improving Security around the FCTA Secretariat dated 30th January 2012, decided among others issues that no private car should be allowed to park within in the premises.

It was also agreed in the meeting that members of staff who expect any visitor must send the name of such visitor to the security personnel for clearance.

The circular which was sent to all the secretariats and departmental heads as was well as aides of the minister also warned staff against bringing non- staff members in their vehicles.

Source: Daily Champion
http://africanspotlight.com/2012/01/female-boko-haram-suicide-female-bomber-arrested-in-abuja/
Re: CBN To Reserve Bank Management & Board Seats For Women by Seun(m): 3:55pm On Feb 08, 2012
manny4life:
Unfortunately, I'm not claiming pro women either, but I disagree with most of yall on here, women empowerment is very important because society treats them as "minority" which isn't right. That a certain % (probably single digit) is reserved for women candidates doesn't mean that there aren't women who are qualified to take up such position, it just means that it has been reserved for a certain group (women) who meet up qualifications.
It is not right to equate women with minorities because 50% of Nigerians are female. However, I agree with the idea of women empowerment. I think it's wrong to use a quota system to try to enforce equality in management or any other field.

A quota system might almost make sense if we assume that the only reason we don't see an equal number of women in senior management is because evil men refuse to promote competent female managers, but that's not true. The fact is that women don't aspire for leadership the way men do, because they think that is not their role in life.  Most women think womanhood is about looking good and making babies so they tend to sacrifice their careers for family life.  If a man gets a good job in a different city, his wife will resign from her job to follow him. If a woman gets the same opportunity, her husband will not resign to support her. Then there's maternity leave. Little things like that add up over time.

Even when a woman is trying to move ahead in the corporate world, other women will try to pull her back by branding her as a NaughtyWoman or spreading rumors that she must have slept with the boss. The few women trying to get ahead tend to rely more on their looks and the cuteness factor instead of concentrating on substance and performance, and it works for them to a point, but not to the very top. As a result, in banking and many other industrial sectors of Nigeria, the best candidates for top management roles are unlikely to be women.

This is not to say women don't have the ability to be great leaders. The problem is that they are not encouraged to develop their leadership potentials, so most of them don't do so.  As a result, a quota system mandating that a particular percentage of senior managers must be women is going to result in a lower quality of leadership.  It's not fair that women are not allowed to develop their potentials, but it's also not fair to shareholders if you prevent banks from appointing the very best senior managers they can find regardless of whether such candidates are men or women. An insufficiently competent senior manager can ruin any company, so you want the very best, male or female.

Such "pro-women" policies will also encourage female managers aspiring for top positions to relax.  If I know I'm the only female manager in a company and the company is forced to appoint 3 senior female managers by law, then why should I improve my performance? If a woman is guaranteed a slot at the very top by virtue of her gender then why should she strive to be better than men? Currently, women at the top are respected because we know they must be very good to have gotten there, but once such policies are in place, that will no longer be the case. Do we want that?

I would like to see more women in senior management, but the best way to achieve that is by encouraging women to work harder and take their careers more seriously. It's by commending women more for working hard and being smart than for looking good. It's by not telling women that they are supposed to be "submissive".  It's by helping your wife at home or hiring domestic helpers so she can work harder at her job. It's by celebrating women who are good at what they do for being good at what they do, and not for their beauty. By treating the disease and not the symptom.
Re: CBN To Reserve Bank Management & Board Seats For Women by kasperone8: 4:35pm On Feb 08, 2012
Blackteeth:

Am against women empowerment via placements in high positions because it doesn't help to distribute wealth among the population. Wealthy women stay single or still marry wealthy men and depend on them therefore accumulating wealth for themselves. But if you give a man that position he can marry a poor jobless lady and pull her out of poverty. But this is not the case with a wealthy woman in that position.
Women should simply be in the kitchen pounding fufu and changing the baby's nappies at home.
Blackteeth,u are so on point grin.Those wealthy women usually die single or marry very rich men too
Re: CBN To Reserve Bank Management & Board Seats For Women by Cyberfreak(m): 6:35pm On Feb 08, 2012
It's by commending women more for working hard and being smart than for looking good. It's by not telling women that they are supposed to be "submissive".  It's by helping your wife at home or hiring domestic helpers so she can work harder at her job. It's by celebrating women who are good at what they do for being good at what they do, and not for their beauty
I support this. And I think you made excellent well thought out points in your last post.
In addition, I would like to add that another reason why women don't aspire for high positions is that women are viewed as sex objects by a lot of men and this leads to their being forced to give intimate favours in return for lofty positions they seek for in companies. So they tend to forfeit such positions than to LovePeddler themselves in return for them.

Lastly, that statement is not likely to work in a place like Africa because a lot of the men have over-inflated egos (because African tradition tells them they are superior to women) and they do not want anything that will bring women up to par with them in the society to happen.
See typical example,
Blackteeth:

Women should simply be in the kitchen pounding fufu and changing the baby's nappies at home.
Re: CBN To Reserve Bank Management & Board Seats For Women by Nobody: 11:42pm On Feb 08, 2012
Seun:

I'm a feminist in many ways, but affirmative action is a big mistake. Women should not be hired just because you are trying to fill a certain quota. They should be hired because they are good. If we want more women in management, we should provide them with management training and career advancement training so they can convince their bosses to promote them on merit. Affirmative action is a lazy idea that doesn't help society.

Would you say the same about race, especially in societies where ethnic minorities have been subjected to consistent segregation in the past?
Re: CBN To Reserve Bank Management & Board Seats For Women by Seun(m): 1:17am On Feb 09, 2012
obo_man:
Would you say the same about race, especially in societies where ethnic minorities have been subjected to consistent segregation in the past?
Yes. For example, if black kids in the US have lower test scores, the solution is not to lower admission standards for them, but to help them to improve their test scores. If black employees are under-represented in management, the solution is not to say X% of managers must be black. The solution is to develop more objective means of assessing managerial candidates and to encourage black employees to work harder on their management skills.
Re: CBN To Reserve Bank Management & Board Seats For Women by Nobody: 3:24pm On Feb 09, 2012
Seun:

Yes. For example, if black kids in the US have lower test scores, the solution is not to lower admission standards for them, but to help them to improve their test scores. If black employees are under-represented in management, the solution is not to say X% of managers must be black. The solution is to develop more objective means of assessing managerial candidates and to encourage black employees to work harder on their management skills.

Interesting , but I still disagree with you to some extent.

Imagine a scenario where we have an industry ( say investment banks) where all of the employees are White, Male, e.t.c.

There could be two major reasons for that;

a, Maybe the females, ethnic minorities that have applied for jobs in this particular industry aren't good enough


b, Or maybe they are being systematically discriminated against.



If we assume it's option A, then like you earlier said, 'affirmative action' will indeed be a mistake.


What if it's option B, what then do you suggest?
Re: CBN To Reserve Bank Management & Board Seats For Women by Seun(m): 5:07pm On Feb 09, 2012
Discrimination and Incompetence usually reinforce each other. If all the black investment bankers you know are incompetent, you'll be tempted to assume they are all incompetent, so incompetence leads to discrimination.  On the other hand, if blacks are consistently discriminated against, they won't be motivated to develop themselves like their white counterparts, so discrimination also leads to incompetence.  It's a positive feedback cycle. However, some blacks who are really exceptional will be able to break through, and they will be greatly respected (like Obama in politics).

If you try to use affirmative action to force those whites to hire more blacks, then the quality of the average black investment banker they come across will go even lower.  This will amplify the prejudice they feel against the blacks, and cause the blacks to relax since they now have guaranteed slots.  It will also lead to the hiring of less competent people because of their skin color, which is bad for the economy and bad for business.

How can we fix this problem without creating new problems?  We can make it easy for blacks to start their own investment firms by cutting out silly regulations. Those black-owned firms will not be prejudiced against black people, since their owners are black, but black investment bankers will still be motivated to work hard, because they would have to compete with white investment bankers for jobs in the black-owned companies.  Successful black-owned companies won't discriminate against blacks but at the same time they will hire whites if they are better. Once this is in place, and competent black people can find jobs that are non-discriminatory, I will consider the problem solved. Statistical parity isn't necessary: we don't consider it a failure of society that American sports are dominated by black people because whites who are truly good won't be turned down.
Re: CBN To Reserve Bank Management & Board Seats For Women by Bagehot: 11:14am On Feb 10, 2012
I think the issue of Women being discriminated against in the corporate world due to male chauvinism has been exaggerated over the years simply 'cos it makes for a moving narrative. How Men get into top management positions is often over-looked. Let's assume the average woman has 2 kids, even if she chooses to be neglectful in their upbringing, she would still lose 2 years she could have spent doing great work, making valuable contacts or even studying for a professinal qualification.

If the said mother/professional even puts her nose to the grind-stone, motherhood and marriage can be limiting. For instance, I've been priviledged to travel extensively on official assignment simply 'cos my female colleagues (often senior) were reluctant to go 'cos that would entail leaving their husbands and kids unattended for the few days they would be away - and God forbid that they as married women be caught sleeping in hotels.

How many women can move to new job locations at the drop of a hat - especially when they are married? Being asked by your organization to move to a new city often means increased responsiblities and visibility and if not immediate but prospective pay increase.

There is also the issue of mentoring and networking. Let's face it, even among Men, mentoring and networking means every-thing if you intend t spring up your careeer ladder. A lot of Men and women would feel wierd being mentored by the opposite sex 'cos mentoring often crosses over form just work issues to personal issues -would you feel comfortable for your husband or wive to explore potentially deep emotional bonds with members of the opposite sex As regards networking, Men often rely on the "Old Boys" network - friends and old class-mates now doing good in the world to get ahead. Most women marry straight out out college to become mothers, wives etc - fewer contacts to leverage on profitably.

Men are also more ambitious than women - probably not smarter but certainly more ambitious. Look at the giants of the world today - JP Morgan, BP, Google - facebook too - all started by men! There are women doing good out there - but nowhere near the number of men. Argue all you want but several companies were started from scratch by Men who had no connections, little money and no degree: Sean Parker started Napster in his bed-room at 19, Sergei and Larry dropped out to started google, Steve Jobs started apple with nothing but sheer guts - my neighbour's daughter started a salon and got married . . . with a 1st class degree in Computer Science . . .sigh.
Re: CBN To Reserve Bank Management & Board Seats For Women by SIRNIMS(m): 5:44pm On Feb 10, 2012
Women are wicked and if you give them power they will turn to devil himself. Not minding the fact that they are extremely lazy and vindictive too.

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