Corporate Governance of Banks and the Banking Reforms in Nigeria PDF Download
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Author: Gabriel Adegbite
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The role of banks is integral to the development of any nation due to their multiplier effects on the economy at large. This is particularly true of Nigeria where banks have an overwhelmingly dominant position in the financial system. More so, the effects of the global financial crisis on many emerging economies such as Nigeria which have re-echoed the importance of corporate governance have compelled the financial and non-financial regulators such as the central bank of Nigeria and the Securities and Exchange Commission to revise their codes of best practices for the banks and other public companies. This paper makes a contribution to the existing literature on the state of corporate governance development in the Nigerian banking sector, the impacts of the banking regulations and the efforts put in place at ensuring that the banks are well governed. It also addresses the issue on whether the banking reforms carried out by the central bank of Nigeria in relation to governance are enough or adequate for the survival of the Nigerian financial sector in the face of the global challenges. It argues that while standards and codes are being enacted and revised by the CBN and the SEC, there is need for the Nigerian internal and external environments (be it socio-cultural, political, economic, legal, religious etc.) to support the reforms.
Author: Gabriel Adegbite
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The role of banks is integral to the development of any nation due to their multiplier effects on the economy at large. This is particularly true of Nigeria where banks have an overwhelmingly dominant position in the financial system. More so, the effects of the global financial crisis on many emerging economies such as Nigeria which have re-echoed the importance of corporate governance have compelled the financial and non-financial regulators such as the central bank of Nigeria and the Securities and Exchange Commission to revise their codes of best practices for the banks and other public companies. This paper makes a contribution to the existing literature on the state of corporate governance development in the Nigerian banking sector, the impacts of the banking regulations and the efforts put in place at ensuring that the banks are well governed. It also addresses the issue on whether the banking reforms carried out by the central bank of Nigeria in relation to governance are enough or adequate for the survival of the Nigerian financial sector in the face of the global challenges. It argues that while standards and codes are being enacted and revised by the CBN and the SEC, there is need for the Nigerian internal and external environments (be it socio-cultural, political, economic, legal, religious etc.) to support the reforms.
Author: Gabriel Adegbite
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Book Description
Banking and corporate governance reform is an ongoing phenomenon which has received intense global attention after the 2008 global financial crisis. This is particularly true of Nigeria where banks constitute a dominant position of the financial sector. It has compelled many financial and non-financial regulators in Nigeria such as the Central Bank of Nigeria and the Securities and Exchange Commission to revise the codes of best practices for banks and other public companies overtime with a new single code of corporate governance [the national code of corporate governance] set to be released by the Financial Reporting Council of Nigeria.This paper makes a contribution to the existing literature on the state of corporate governance development in the Nigerian banking and non-banking sector, the impacts of the banking regulations and the efforts put in place at ensuring that banks are well governed. It also addresses the issue of compliance, disclosure and harmonisation of codes in Nigeria. It argues that while standards and codes are being enacted and revised by the CBN, the SEC and now FRCN, there is greater need for the Nigerian internal and external environments (such as the socio-political, economic and cultural systems) to support the reforms. There is also need for better enforcement, a renewed transparency and total compliance to the spirit and letter of the code in Nigeria.
Author: S. Apati
Publisher: Springer
ISBN: 0230305350
Category : Business & Economics
Languages : en
Pages : 221
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Book Description
This is the first comprehensive book on the politics and economics of financial sector consolidation in an emerging market in West Africa. It draws on the author's twenty years experience working with multinationals in this oil-rich zone, to address key issues and examine banking reform in one of the world's fastest-growing economies.
Author: Belén Díaz Díaz
Publisher: Springer
ISBN: 3319700073
Category : Business & Economics
Languages : en
Pages : 348
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Book Description
This book explores the status quo of corporate governance in banking and investor protection from both theoretical and practical perspectives. Bringing together original conclusions with a regional and international focus, it provides a timely and comprehensive overview of the effectiveness of corporate governance in the financial sector and an assessment of investor protection. It also includes a number of examples and case studies to illustrate the findings. The book compares corporate governance in the banking and financial industries before and after the financial crisis, and helps to evaluate the effect of the recommendations and regulations that have been developed in the interim.
Author: Kelechi Okorafor
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The corporate world over the past few decades has been plagued with instances of corporate mismanagement which resulted in the collapse of several companies. In Nigeria, several banks have collapsed, with the most recent being in 2018, and these failures have been largely credited to weak corporate governance practices. Banks are key in the development of emerging economies; therefore, good corporate governance of banks has far-reaching implications. To regulate corporate governance in Nigeria's banking industry, the principles-based approach is utilized. However, a critical examination would reveal that it has proven inadequate in achieving the regulatory objectives in light of the current challenges faced. This study proposes a restructure of the current system of regulating governance in the Nigerian banking industry. To achieve this, I engaged in a comparative analysis of the traditional principles-based and rules-based approach to governance regulation, using Canada and the United States as case study. Taking into consideration lessons from this cross-jurisdictional analysis, as well as the peculiarity of the Nigerian banking environment, the study explores new perspectives for regulating corporate governance within Nigerian banks and proposes the adoption of a unique approach.
Author: Emeka R. Offor
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659338465
Category :
Languages : en
Pages : 92
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Book Description
Corporate governance describes the expectations of stakeholders on how corporations are governed. These expectations or perceptions keep changing; and because they keep changing, the managers of corporations and indeed all stakeholders need to keep pace with these expectations. In this paper, the researcher reviewed the various attempts made by Central Bank of Nigeria (CBN) at entrenching corporate governance in Nigerian banks with a special focus on whether banks in Nigeria are complying with the code of corporate governance post consolidation (2005 - 2009). The study employed an interpretivist methodology and collected data through observation, document analysis and a review of the CBN case. The case x-rayed the regulator - induced banking consolidation reforms and the compliance with the mandatory code of corporate governance for banks in Nigeria post consolidation as well as issues bordering on supervisory framework, architecture and risk management. The research revealed that banks in Nigeria are committed to conforming to the dictates of the code of corporate governance while struggling to achieve viability.
Author: Wahab Babatunde Dabiri
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 40
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Book Description
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484363280
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
The assessment of the implementation of the Basel Core Principles (BCP) was conducted for effective banking supervision in Nigeria. The assessment team reviewed the legal framework for banking supervision and held extensive discussions with the staff of the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). It is assessed that Nigeria has recorded significant improvement in its level of compliance with the BCPs, which is attributed to the enhancement of the supervisory capacity of Nigerian banking system supervisors.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484363590
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
The assessment of the implementation of the Basel Core Principles (BCP) was conducted for effective banking supervision in Nigeria. The assessment team reviewed the legal framework for banking supervision and held extensive discussions with the staff of the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC). It is assessed that Nigeria has recorded significant improvement in its level of compliance with the BCPs, which is attributed to the enhancement of the supervisory capacity of Nigerian banking system supervisors.
Author: Y. Makanjuola
Publisher: Springer
ISBN: 1137493534
Category : Business & Economics
Languages : en
Pages : 263
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Book Description
This book captures Nigeria's crisis management experience and lessons learnt during the five-year tenure of Sanusi Lamido Sanusi as CBN Governor. It provides a backdrop of the sub-prime mortgage crisis in the US characterised by the Lehman Brothers debacle in 2007-08, which precipitated global economic and financial crisis.
