From SULE ALIYU, Bauchi
THE CBN governor, Professor Charles Chukwuma
Soludo, has described media as one of the effective instruments for
sensitising Nigerians and international community on the on- going move
towards banking consolidation reforms to facilitate the evaluation of a
sound and stable banking system in the country.
Declaring open the 6th Central Bank of Nigeria,
(CBN) seminar for finance correspondents and business editors held at the
banquet hall of Zaranda Hotel, Bauchi, Prof. Soludo said the reforms are
basically meant to enhance transparency and accountability in the banking
sector.
Soludo said the aim of the seminar is to
acquaint participants with mergers and acquisition issues as well as the
challenges facing its implementation.
The governor observed that the seminar would
also facilitate better education and enlightenment of the public on bank
consolidation as well as to promote cordial relationship between the CBN and
the media.
Prof. Soludo also pointed out that the forum
would equip participants with the necessary analytical tools to accurately
report the bank in policies and programmes.
�There is no other way that we could have got
the message across the men and women out there to Nigerians rather than
through media and I want to commend you for the good job you have done in
helping us to get the message across�
In his remark, the director, office of the
governor�s department CBN, Mr. G.E. Ukpobi said the seminar was to foster
the relationship between the CBN and the press pointing out that the press,
need to sensitise Nigerians and international community on the on- going
reforms with the banking sector.
He pointed out that the occasion would also
serve as the forum of dialogue and exchange of ideas between CBN and the
media made according to him, they are partners in progress towards the
betterment of the Nigerian economy.
Earlier in his welcome address, the branch
controller, CBN Bauchi, Alhaji Yusuf Nuhu had commended Governor Ahmadu
Adamu Mu�azu for his policies of improving the living standard of the people
and the banking sector in the state, for providing conducive environment to
CBN, Bauchi.
On courtesy, the CBN governor told Governor
Mu�azu that CBN has set aside December 31, 2005 within which banks should
meet the new re-capitalisation policy, pointing out that banks have already
signed memorandum of understanding to that effect.
He said the essence of the reforms is to move
the Nigerian economy forward and position the country�s banking system to
become sound and reliable catalyst of development.
Responding, Governor Mu�azu called on the CBN
governor, to ensure the regulation of the capital market so as to have an
appreciable exchange rate and urged the CBN to device means of sustaining
the smaller banks in the on-going reforms.
Mu�azu also called on the CBN to geared efforts
towards educating members of the public to invest through purchase of shares
to enable them lead a solid foundation for their future and take every
possible measure on failed banks so that they could pay depositors and
investors their money deposited in the country.
