Mallam Sanusi on Banking Sector Reforms in Nigeria and Implications for Financial Globalisation and Sustainability

From May 29 to 31, 2013, the European Centre for Corporate Engagement (ECCE) of the Maastricht University jointly with the University of Stellenbosch Business School (USB) hosted a conference on “Financial Globalisation and Sustainable Finance: Implications for Policy and Practice”. The conference was held at USB’s Bellvillepark Campus in Cape Town, South Africa and attended by about 100 participants from academia and practice.

The sessions were anchored by two keynote speakers, Mallam Sanusi Lamido Sanusi (CON), Governor of the Central Bank of Nigeria and Bill Megginson, Rainbolt Chair in Finance at the University of Oklahoma’s Michael F. Price College of Business.

Mallam Sanusi was appointed as the 10th Governor of the Central Bank of Nigeria (CBN) at the height of a global financial crisis in June 2009. The Nigerian banking system was on the verge of collapse due to a large exposure to the stock market in the form of bubble capital, excessive margin lending as well as concentration of lending to specific industries. Under his leadership, the Central Bank of Nigeria moved swiftly and boldly to implement far-reaching reforms in the banking industry aimed at addressing the root causes of the crises in poor corporate governance and risk management practices, management fraud, insider abuses and weak regulation supervision and enforcement. Mallam Sanusi focused in his speech on banking sector reforms in Nigeria and the implications for financial globalisation and sustainability.

Click below to watch the keynote speech.

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