The Central Bank of Nigeria (CBN) has called for collaboration with the Institute of International Finance (IIF) on cross border supervision of the finance sector.
Deputy Governor, Economic Policy, CBN, Dr. Sarah Alade, made this call at the outreach event organised by the CBN and the Institute in Lagos. Alade said: “As the Bank work to strengthen the system and expand the growth of the sector, a good area of collaboration with IIF will be in the area of building capacity and sharing best practice experiences in managing the introduction of innovative products and practices in the banking sector.
“This is even more crucial in areas of cross border supervision and crisis resolution framework.
”In addition, as we work to strengthen the sector and increase profitability for the shareholders, we must work to encourage financial stability and balance the need between profitability and economic growth. This will include the development of prudential and regulatory framework that will support sound and resilient financial sector. This is an area that Africa banking sector and the Institute for International Finance (IIF) could collaborate in developing the right set of policies that is best suited for our environment through collaborative research and information sharing.