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CIBN, Bank CEOs Voice Concerns Over Persistent Smear Campaigns Against Banks
The Chartered Institute of Bankers of Nigeria (CIBN) and the Body of bank CEOs in Nigeria have expressed deep concern over the ongoing criticism of Nigerian banks on social media.
They emphasise the importance and contributions of the banking sector, which is one of the most regulated and vital components of Nigeria’s economy.
The Nigerian banking industry operates under stringent regulations enforced by the Central Bank of Nigeria (CBN), its main regulatory authority, alongside other direct and indirect regulatory bodies.
Many banks in the country are publicly listed, adhering to high standards of transparency and compliance expected by both domestic and international investors and regulatory agencies.
In addition to the CBN, various regulatory bodies, including the Nigerian Exchange Group (NGX), Securities and Exchange Commission (SEC), Financial Reporting Council (FRC), and the Nigeria Deposit Insurance Corporation (NDIC), play crucial roles in ensuring transparency, integrity, and accountability within the banking sector.
Continuing, Nigerian banks are staffed with a plethora of globally competitive and certified professionals who are governed by both national and international standards. These experts, along with partnerships with internationally recognised service providers and investments in advanced technologies, enable Nigerian banks to meet global standards across all markets they serve.
Independent evaluations by prestigious auditing firms, rating agencies, and other assessment bodies regularly scrutinize the operations, financial records, and compliance of Nigerian banks. These rigorous assessments ensure adherence to global best practices, underscoring the bank’s commitment to providing trustworthy and high-quality services. Consequently, Nigerian banks consistently receive high ratings, both individually and collectively.
Investor confidence in Nigerian banks is robust, with the sector emerging as a preferred choice for both retail and institutional investors. The resilience and dynamism of the banking industry stem from the trust customers place in it, reaffirming the sector’s critical role in Nigeria’s economic growth and development. Rather than facing criticism, the continued strength of this sector should be a source of national pride.
The banking sector plays a pivotal role in Nigeria’s economic landscape, significantly impacting individuals, businesses of all sizes, and society at large. The development of the economy is heavily reliant on the intermediary roles of banks, which provide undeniable positive effects on the national landscape.
For individuals or groups with concerns or grievances about any bank’s operations, the CIBN and the Body of Banks CEOs encouraged directing such issues to the relevant regulatory authorities. These organizations are equipped to address concerns impartially and professionally, ensuring proper resolution through established channels.
They cautioned that resorting to social media attacks, blackmail, or smear campaigns not only tarnishes the hard-earned reputation of these institutions but also seeks to manipulate the banks unfairly, urging those involved in such actions to reconsider and focus on the facts before making accusations.
“Regulatory agencies are well-prepared to handle concerns with diligence and professionalism”
The banking sector remains committed to delivering the highest standards of service, guided by the regulations governing the industry.
Together, there is a call to foster an environment of trust and collaboration, recognising the positive impact of a professional sector that brings pride to Nigeria and Africa. As the banking sector continues its efforts to build a resilient Nigerian economy, citizens are encouraged to support its mission of creating a stronger economy that benefits everyone.
The Kano State House of Assembly has initiated impeachment proceedings against Deputy Governor Aminu Abdussalam Gwarzo over allegations of gross misconduct, abuse of office, and breach of public trust.
The notice was presented yesterday during plenary by the Majority Leader, Lawan Hussaini Dala, who said the action follows Section 188 of the 1999 Constitution of the Federal Republic of Nigeria.
Dala said the allegations stem from Abdussalam’s tenure as Commissioner for Local Government (2023–2024) and his current role as deputy governor. He accused the deputy governor of diverting funds meant for the 44 local government councils.
According to the majority leader, Abdussalam allegedly received N1.5 million monthly from each council between June 2023 and January 2024, totaling N462 million. Between February and July 2024, he allegedly collected N3.255 million monthly from each council under the guise of special assignments, amounting to N726 million.
Dala also accused the deputy governor of abuse of office, claiming he facilitated payments of N10 million from each council to NovoMed Pharmaceuticals Limited, totaling N440 million, in violation of state procurement laws.
“The misuse of official capacity to confer undue advantage constitutes abuse of power and undermines public trust,” Dala told lawmakers, adding that the allegations amount to gross misconduct under the Constitution.
The impeachment notice was reportedly endorsed by 38 lawmakers, meeting the constitutional threshold to proceed. The Speaker has acknowledged receipt, and the House is expected to serve the allegations on the deputy governor.
If approved, a panel may be constituted by the state Chief Judge to investigate the claims.
As of filing, Abdussalam had yet to respond publicly to the allegations.
The Inspector-General of Police, Tunji Disu, on Wednesday inaugurated a seven-member committee on the establishment of state police, giving it four weeks to submit its report.
The inauguration was held during his maiden conference with senior police officers at the Peacekeeping Conference Centre, Force Headquarters, Abuja.
Charging members of the panel to discharge their duties with professionalism and objectivity, Disu described the assignment as “both significant and timely,” noting that it would shape the framework through which state policing may operate in Nigeria.
“In carrying out this assignment, your deliberations must be guided by professionalism, objectivity, and a clear appreciation of the unique complexities of policing a diverse nation such as our own,” the IGP said.
He stated that if properly designed and effectively implemented, state policing holds significant potential benefits for the country.
“By bringing law enforcement closer to communities, state police institutions can deepen local knowledge of security dynamics and enable quicker and more targeted responses to emerging threats,” he added.
The committee is expected to review existing policing models within and outside Nigeria, assess community security needs and emerging risks, and propose an operational framework for the establishment and coordination of state police structures.
It will also address issues relating to recruitment, training, standards and resource allocation, as well as develop accountability and oversight mechanisms to ensure professionalism and public trust.
The panel is chaired by Olu Ogunsakin, with Bode Ojajuni as secretary. Other members are Emmanuel Ojukwu, Okebechi Agora, Suleyman Gulma, Ikechukwu Okafor and Tolulope Ipinmisho.
Disu said the committee had about four weeks to conclude its assignment and submit a comprehensive report.
The move marks one of the first major steps taken by the new police chief since his appointment and confirmation a few days ago.
The development comes amid rising security concerns across the country, with several stakeholders advocating state policing as part of measures to tackle insecurity.
President Bola Tinubu had earlier asked the National Assembly to commence the process of amending relevant laws to pave the way for the creation of state police.
President Bola Tinubu on Wednesday swore in Olatunji Disu as the Inspector-General of Police (IGP).
Disu took the oath of office at the Council Chamber of the Presidential Villa, Abuja, shortly before the commencement of the Federal Executive Council (FEC) meeting.
The President also administered the oath of office to six commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and two commissioners of the Federal Civil Service Commission (FCSC).
The ceremonies were witnessed by ministers, senior government officials and family members of the appointees.
The council meeting began shortly after the swearing-in.
In attendance were Vice President Kashim Shettima; the Secretary to the Government of the Federation, Senator George Akume; the Chief of Staff to the President, Femi Gbajabiamila; the National Security Adviser (NSA), Nuhu Ribadu; and the Head of the Civil Service of the Federation, Mrs EsthMrs.Walson-Jack.
Disu was appointed acting IGP on February 25, 2026, by President Tinubu, following the resignation of former IGP Kayode Egbetokun.
His appointment was subsequently endorsed by the Nigeria Police Council (NPC).
The former Assistant Inspector-General of Police assumed office last Wednesday.
He previously served as Assistant Inspector-General in charge of the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, after his promotion to the rank last year.
A former head of the Lagos Rapid Response Squad (RRS), Disu has pledged to deliver accountable, modern and professional policing.
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