Economy and Politics: Banks Must Address Insider Dealings, To Achieve Stability In Nigeria
This edition of the Economy and Politics show features Mr. Marcel Okeke the CEO of Mascot Consult Limited, as he discusses "Strengthening Nigeria's Banking System: Assessing CBN Regulations".
Giving a historical overview Okeke highlighted the fact that the crisis and incidents that led to the collapse of several banks in the country, was partly due to insider dealings and activities that were not curtailed.
Speaking on the recent intervention of the Central Bank of Nigeria in the leadership issues of First Bank Nigeria Limited and FBN Holdings Plc, he re-echoed the concerns raised by the regulator on poor corporate governance, insider dealing and bad loans.
He acknowledged the fact that recently the Economic Financial Crimes Commission, EFCC had issued a directive for all bankers in the country to declare their assets.
Mr. Marcel Okeke believed that this was one proactive step that will sanitize the system and to an extent tackle the "Insider Dealings" in the financial services industry.