Distinguished participants, having talked in general terms about the imperatives of balancing stakeholders’ interests, permit me to take a moment to outline the challenges facing directors in the financial services sector with regard to meeting the expectations of your numerous stakeholders, including the regulatory agencies.
As a regulator and supervisor of the financial services industry in Nigeria, the Central Bank has come across some unwholesome practices by top management and, sometimes with the active collusion and connivance of the board that are detrimental to the interest of other stakeholders in the organization.