Sep 30 2009
The Role of Bank Boards in the Crisis – Beyond the Eye of the Storm
The spectacular arrest of the CEOs of banks that have been rescued by the CBN highlights a broader crisis in bank corporate governance practices in Nigeria. A bank CEO is ultimately responsible to the regulator to ensure compliance with the Bank’s Act and its regulations, but is also responsible to the board for the creation and preservation of wealth within the institution. The Central Bank’s actions have protected depositors, but shareholders are the ultimate casualty, and have lost billions in the crisis.
from Business Articles from EzineArticles.com
