In particular, the guidelines will impose the tenure of Chief Executive Officers and Non-Executive Directors of banks, the size of bank Boards, the retiring age for Directors and disclosure of attendance at Board meetings by Directors in annual accounts. 23.
These initiatives are underscored by the fact that banks need sound corporate governance practices to build public trust and confidence, as well as operational credibility. Without these, banks stand the chance of eroding public trust 12 | P a g e  and ultimately jeopardizing shareholders investments and depositors’ funds and most importantly weakening economy activity. 24.