Cheating Of Customers: CBN Recovers N6bn From Fraudulent Banks

Cheating Of Customers: CBN Recovers N6bn From Fraudulent Banks

Central Bank of Nigeria (CBN) has recovered over N6 billion from fraudulent banks who cheated their customers for the last one year.

CBN Governor, Mallam Sanusi Lamido Sanusi, who made this disclosure yesterday at the Isaac Moghalu Foundation Annual Lecture in Abuja, said that when CBN discovered the anomally, the erring banks were debited and the defrauded customers were refunded their money.

He said that the Director of Consumer Protection, who is a woman is a no nonsense woman and has been able to keep the banks on their toes.

In his keynote address at the lecture, Sanusi stated the need for women to hold high positions in banks saying that he has ordered the banks to have at least 30 per cent on their boards by 2014.

Also, at least 40 per cent of their senior management position will be held by women. Similarly, when banks publish their annual accounts, CBN required that every bank must publish its gender position.

“We got the banks to agree that by 2014 at least 30 per cent of the board seats of the Nigerian banks will be held by women. And at least 40 per cent of senior management position will be held by women. And what you will find is that when banks publish their annual accounts we have required that every bank must publish their gender position.

“So, it is like name and shame. And even the Central Bank will have to publish it. How many women do you have at different levels? So, there is a lot of public pressure on those institutions that are falling behind to catch up,” he said. Sanusi, regretted, however, that in the 50 years of CBN, it has had only four females who have made it to the director level.

This, he said, was the period when the staff strength was between 10,000 and 12,000. “I became governor in 2009. This is 50 years of Central Bank. In those 50 years, only four women had made it to director level.

“And this is a period when you have 10,000 staff, 12,000 staff. Only four in 50 years. Today, we have seven. The country has the first female director in banking supervision. We have a female director in the Internal Audit.

“We have a female director in Human Resources. We have a diretctor, Medical Services; Director, Consumer Protection; Director, Branch Operations; Director, Risk Management. I think, about eight female directors. And it comes from a conscious policy to say, listen, we are going out to look for qualified women to give these positions.

“I think in the Central Bank, many people are planning a sex change because a fast-track to movement is to be a highly qualified and competent woman and you get this support,” he said.

Earlier, in her welcome address, the Executive Director, Isaac Moghalu Foundation, Mrs Maryanne Moghalu disclosed that the theme of this year’s symposium was designed to stress the importance of women education and appointment of women into leadership position.

She said the foundation, as part of its briefs was to focus on human capital development, vocational training and a host of other activities.

Related news

GOOD NEWS: Governors to earn more from Buhari amid recession

GOOD NEWS: Governors to earn more from Buhari amid recession

GOOD NEWS: Governors to earn more from Buhari amid recession