Deputy Governor, Central Bank of Nigeria (CBN), Dr. Joseph Nnanna, has revealed that financial institutions in the country cannot meet up with global practice without strict adherence to corporate governance.
He said the current global economy trend has made it mandatory for the apex bank to change its policy from time to time in order to meet up with economic reality.
Dr Nnanna disclosed this in Lagos while speaking as a guest speaker at the 2015 annual conference on Corporate Governance/10th anniversary celebration of Society for Corporate Governance Nigeria (SCGN).
The CBN boss spoke on the topic: “The impact of Corporate Governance: The Nigerian case.”
According to him, the introduction of corporate governance was to bring out best in the financial sector by acting locally but thinking globally.
“Corporate governance is the system by which business corporations are directed and controlled. -The Sun