Nigerian Politics - CBN denies bias, shareholders fault sack of bank chiefs

AGAINST the backdrop of the on-going reforms in the banking sector, shareholders and other stakeholders yesterday complained that the action and subsequent appointment of new helmsmen lacked ingredients of good corporate governance. This came as the Central Bank denied accusations that it was biased in the audit of the banks. According to CBN, though the banks were in different conditions, thus requiring different solutions, the underlying consideration of fairness in the assessment of the banks' capital adequacy, liquidity and corporate governance was sacrosanct. From the shareholders' group, to stockbrokers and experts in the sector, another question was: "What were the criteria

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