VP Leads Government Officials, Leaders in Parliament to Book Launch on Banking Reform

By Chinedu Eze

Vice President, Professor Yemi Osibajo, top government officials, leaders in National Assembly, industry stakeholders will on Monday, converge on the International Conference Centre, Abuja to deliberate on banking reform in Nigeria at book launch by Honourable Bode Ayorinde.

 The public presentation of the book, “Banking Reform in Nigeria: The law, The Prospects and The Challenges,” may serve as rendezvous to brainstorm contentious issues on banking in Nigeria at the unveiling of book meant to chart the way for the revamping of the banking sector in response to the ongoing national quest for sustainable economic development, which has been a highly topical issue and engagement of the current dispensation in Nigeria.   

The book was written by Eminent Scholar, Lawyer, Chartered Banker and influential member of House of Representatives, Hon Bode Ayorinde. 

The guests at the historical occasion would be led by the Vice President of Nigeria, Prof Yemi Osinbajo, the Senate President, Dr. Bukola Saraki, Speaker of House of Representatives, Hon. Yakubu Dogara and the National Leader of All Progressives Congress (APC), Asiwaju Bola Tinubu. 

Other senior government officials expected at the event include the Governor of the Central Bank of Nigeria (CBN), Dr.  Godwin Emefiele, the Chief Justice of Nigeria, Hon. Justice Walter Samuel Nkanu Onnoghen, Honourable Minister of Finance and other Ministers, the Governor of Ondo state, Arakunri Oluwarotimi Akeredolu who is Special Guest of Honour at the event. 

The book, “Banking Reform in Nigeria – The Laws, The Prospects and The Challenges traces the historical development of banking business in Nigeria and critically examines all the laws relating to banking since inception.

Posited to be an invaluable  guide to the transformation of the banking industry, the book goes further to chronicle all attempts to reform and rebrand the banking industry in the past, including the most pronounced consolidation exercise of 2004/2005 that shook the industry to its foundations.

The book being presented further examines the issue of bank capital requirement, distress management in banks and professionalism in banking business. The meat of the book is the critical examination of legal and institutional framework for regulation and supervision of banks in 23 other countries and it concludes with an admonition for an urgent reform of the Nigeria banking industry offering some suggestions that would make the banking industry conform to the world’s best practices and in line with the policies of the current administration of President Muhammadu Buhari. 

The author of the book, Hon. Dr. ‘Bode Ayorinde is a seasoned scholar, with specialisation in International Banking and Finance Law.

He is currently the Pro-Chancellor and Chairman of the Governing Council, Achievers University, Owo, Ondo State of Nigeria. He has been in this position since the foundation of the University.