LAGOS— The Central Bank of Nigeria (CBN) has asserted that robust corporate governance and strict risk discipline are the ultimate determinants of success for the country’s ongoing banking recapitalisation programme, warning that capital injection alone cannot guarantee financial stability.
This assertion was made by Dr Blaise Ijebor, Director of the Risk Management Department and Chief Risk Officer at the CBN (represented by Director Olabanji Samuel), during a virtual risk management roundtable organised by the Association of Enterprise Risk Management Professionals (AERMP) in Lagos. The roundtable, themed “Recapitalisation, Mergers and Acquisition in the Nigerian Financial System; Minimising Risks and Maximising Opportunities for Greater Post-Recapitalisation Value”, convened top financial, legal, and risk experts to chart a sustainable path forward for the nation's financial system.
Drawing lessons from the 2004–2005 banking consolidation and the 2009 financial crisis, the apex bank noted that weak governance and poor credit risk management had previously collapsed well-capitalised institutions. “Capital builds strength, but governance sustains it,” Ijebor emphasised, urging risk and compliance officers to step up as strategic partners to manage vulnerabilities arising from asset valuation, operational integration, and anti-money laundering (AML) frameworks.
Systemic Risks and Financial Crime Vulnerabilities
Echoing the CBN's regulatory caution, a distinguished panel of experts highlighted the hidden friction points in the multi-sector recapitalisation drive. Prof. Olufemi Awoyemi, Founder and Chairman of Proshare Ltd, noted that simultaneous capital-raising across multiple sectors is straining market capacity and exposing gaps in regulatory coordination. Meanwhile, Ms Bunmi Lawson, pioneer MD/CEO of EDFIN Microfinance Bank Ltd, stressed that larger institutions will naturally demand significantly more sophisticated risk frameworks.
Contributing to the panel, Prof. Ehi Eric Esoimeme, a Professor of Business Law and Ethics at James Hope University, Nigeria, brought critical focus to the escalating threat of financial crime during major corporate restructurings. Prof. Esoimeme urged financial institutions to implement stricter due diligence, enhanced data management protocols, and rigorous monitoring systems to prevent illicit funds from compromising the integrity of the recapitalisation process.
Global Recognition: Prof. Esoimeme Clinches International Research Fellowship
Prof. Esoimeme's local advocacy for financial integrity comes on the heels of major international recognition. INTI International University, a premier Malaysian higher education institution ranked #509 globally and #122 in Asia in the 2026 QS World University Rankings, has officially appointed Prof. Esoimeme as a Research Fellow.
The appointment, initiated following a recommendation by Dr Tafara Mudzengi and formalised in a letter from Pathma Maran on behalf of the university, highlights a significant move by INTI International University to expand its transnational academic collaborations.
"Our research fellowship program aims to enable researchers to pursue excellence in producing quality research outputs in their respective fields, in terms of quantity and quality," the university stated.
The honorary appointment, which runs until 31 December 2028, with an option for renewal every three years, offers extensive institutional backing for Prof. Esoimeme's pioneering work. The benefits include full sponsorship for Article Processing Charges (APC) in Scopus-indexed journals, funding opportunities for joint research projects with Malaysian academicians, access to dedicated research clusters, and full publication backing through INTI IU's official journals.
This fellowship further solidifies the standing of Prof. Esoimeme, who was recently ranked by Google as a Top Global Professor of Business Law and Financial Crime Compliance.
A Pivotal Moment for Nigeria's Financial Sector
The intersection of academic excellence and rigid regulatory enforcement underscores the high stakes of Nigeria's current economic transition. As the AERMP roundtable concluded, both regulators and scholars agreed that while recapitalisation unlocks immense opportunities for infrastructure financing, technological innovation, and capital market depth, the ultimate divide between institutional success and failure will rest entirely on compliance discipline, strategic clarity, and unwavering governance.
0 Comments