Strengthen governance or face regulatory action, CBN warns Directors

Author: Urowayino JeremiahPublished on: May 4, 2026Country: Nigeria

Business & Economy

Strengthen governance or face regulatory action, CBN warns Directors

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, warned bank directors to strengthen corporate governance or face regulatory action. In a keynote address at an induction ceremony in Lagos, he emphasized that the success of the recent bank recapitalization depends on the quality of leadership. Cardoso also noted that the CBN would not hesitate to act in cases of governance failures, recalling recent interventions where boards were dissolved due to serious lapses.

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