CBN Bags Regulator Of The Year Award

Central Bank of Nigeria (CBN) has bagged the “Regulator Of The Year Award” by the Leadership Awards For Excellence 2009.
The apex bank won the award for its resolve and doggedness to sanitise the banking sector and ensure that operators play by the rules.
The Awards Ceremony, which was organised by the Leadership Newspapers Group Limited was part of a two-day Leadership Conference held from April 29 – 30, 2010 at the NICON Luxury Hotel, Abuja.
In the citation, the organisers singled out the relentless efforts of the CBN under Mallam Sanusi Lamido Sanusi, who conducted an audit exercise that revealed the grave conditions of 10 banks in terms of liquidity and capital adequacy, caused by poor corporate governance practices and lack of sound risk management culture.
They also cited the courage of the CBN in publishing the names of debtors of the troubled banks for first time in the history of Nigeria, which included names of powerful politicians and financial moguls in order to sanitise the sector and stem the economy from total collapse.
Mallam Sanusi Lamido Sanusi, the CBN governor was also awarded the ‘Person of the Year Award’ for his steadfastness in articulating the vision and policies that have helped to sanitise and instill confidence in the banking sector as well as return the economy towards the path of growth.
Dr. Kingsley Moghalu, deputy governor, Financial Sector Stability received the awards on behalf of the governor.
The Awards Ceremony had in attendance eminent personalities including Gen. Abdulsallam Abubakar, former Head of State who chaired the occasion. Other dignitaries at the occasion included Mr. Obadiah Ando, the newly appointed Federal Minister of Water Resources,  Alhaji Shehu Malami, former Nigerian Ambassador to South Africa, and Right Hon. Chibudom, former deputy speaker, House of Representatives among others.