Re-working Nigeria’s Financial System In the Face Of Global Financial Reform
Venue: Eko Hotel & Suites, Lagos, Nigeria, Date: 10th XXXX, 2010
Going by Central Bank of Nigeria’s intervention in some banks recently, and ongoing reforms in insurance, banking, capital markets and other sub sectors of the Nigerian Financial Services Sector - with the support of Securities and Exchange Commission and the Nigerian Stock Exchange, there is a need to review the Trust and Confidence components of Nigeria’s Financial Services System. The reform of the sector initiated by the board of the reserve bank- Central Bank of Nigeria is a welcome development. Further calls for a drastic change and re-think of how operators, regulators and consumers should harmonise efforts in the face of the global financial problems should support in order to complement the ongoing reform. It is an important period in the history of the industry that there has to be a consensus approach towards stabilising the entire sector and other sectors directly and indirectly associated with it. The proposed collaboration to financial services sector supervision by the respective regulators in the sub sectors could provide a more holistic platform to addressing the confidence factor.
Ethics, a lever for Trust and Confidence, has been diminished in recent times and the hopes of several hither to trusting consumers of banking, insurance, capital market, mortgage and pension services in the system have been dashed. We will at this one day event, evaluate and strategise on; how to commence the process of re-shaping and re-aligning the financial services sector’s trust component. Critical issues overwhelming the sector would be addressed, and these include issues of corporate governance, effective risk management, ethical behaviour, integrity and transparency. The conference will also institute a new benchmark in the industry with the introduction of “TRUST POLICY RENDERING INITIATIVE (TPR NIGERIA FINANCIAL TRUST INDEX)”- a joint effort between AME&T Group and FITC, Nigeria.
Chaired by Mallam Sanusi Lamido Sanusi, Governor CBN, the event will feature insightful presentations, robust panel of discussants, and straight-talk Q & A sessions. Expected speakers at the event Prof. Christine Ennew (confirmed), Pro Vice- Chancellor, Nottingham University Business School UK- She developed Trust and Confidence Index for UK’s financial services sector, Prof. John Heptonstall, CPD AME&T Group, Patterson Timba, Group CEO ReNaissance Bank.