CBN Pledges Collaboration with Security Agents
Banking
By Amarachukwu Ona
The Central Bank of Nigeria (CBN) has pledged to sustain collaboration with security agencies in the area of information sharing and assistance in minimising threats to the security of banks.
The CBN Governor, Professor Charles Soludo made this pledge yesterday at the opening ceremony of the national trade fair and workshop on "Security of Banks in Nigeria", organised by the Chartered Institute of Bankers of Nigeria (CIBN).
Soludo who was represented by the CBN Director, Banks Examination, Mr. S. A. Oni said that the Bank will continue to strengthen its supervisory framework to enhance professionalism and ethical standards in the industry.
This, he said would instill public confidence and ensure the stability of the banking sector.
Towards this end, he urged management of banks to maintain a crop of professional and well-motivated staff, as well as enhance internal controls in order to safeguard assets, check the accuracy and reliability of accounting data and ensure adherence to established policies.
He also emphasised the need for banks to observe strictly the "Know Your Customers" principles to ensure that the banking system is not used to facilitate fraud and money laundering.
Noting that insecurity of banks can undermine public confidence, Soludo advised banks to mobilise available resources to confront the threat to their individual and collective existence.
He urged participants at the workshop to explore the use of safety and security devices as well as high-tech information systems that would enhance security of banks.
The representative of the Inspector-General of Police, AIG Zone 2, Onikan, Lagos, Mr. Gazali Lawal indicted bank workers on the insecurity of banks.
Lawal noted that some bank workers connive with customers to defraud their employers.
On the way forward, he said that operators in the banking sector should brase up to face the security issue squarely, "not leaving the titanic issue of security to the police alone".
He maintained that there is need for banks and organised private sector to contribute some of their profits to their own security, adding that banks personnel and other stakeholders should attend regular courses to be able to cope with the dynamics of financial crimes.
Lawal also urged the CBN and NDIC to be alive to their responsibilities of supervising banks and other financial institutions by ensuring that they comply to the security standard.
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