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NGOs rally support for EFCC, CBN on bank reforms

By Abdulwahab Abdulah
Some non-governmental organisations (NGOs) have called for total support to the anti-graft bodies and the Central Bank of Nigeria (CBN) to achieve total reform in the Nigerian banking sector.

Civil Society Legislative Advocacy Centre (CISLAC) and the Coalition Against Corrupt Leaders (CACOL) in separate statements called on Nigerians home and abroad to support the bodies to bring about lasting integrity and financial independence for the nations financial institutions.

According to CACOL in a statement by its executive director, Debo Adeniran, the public announcement of the debtors to the five banks undergoing scrutiny from the CBN is not enough, saying the apex bank should go ahead to prosecute the financial institutions and their officials if they have truly committed the offences.

Also, CISLAC in a statement by its Executive Director, Musa Rafsanjani, said: “Even though the immediate past governor of CBN, Chukwuma Soludo, had assured the nation time without number that he had so consolidated the Nigerian banks through his recapitalisation policy so much so that not even the global financial meltdown can affect Nigeria. Now we know, it was a deceit.

“If Sanusi was not bold and courageous enough to take the bull by the horn, we would have all be wallowing in a fool’s paradise, maybe till the banking industry, the backbone of the economy, would have collapse in our hands.”


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