By Rukayat Moisemhe
Lagos, April 30, 2026
Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has urged company directors to prioritise consolidation, confidence and stability in the post-recapitalisation phase of the banking sector.
Cardoso gave the charge at the induction of new members of the Chartered Institute of Directors Nigeria (CIoD) on Thursday in Lagos.
The theme of the event is “Stewardship in Times of Reform: Consolidation, Confidence, and Stability in the Post-Banking Re-capitalisation Era”.
Represented by Dr Olubokola Akinniyi, Director, Banking Supervision Department, the CBN Governor said the recent recapitalisation exercise was a strategic move to strengthen financial system resilience, boost investor confidence and support sustainable economic growth.
Cardoso stated that as the country entered this new phase, the role of directors becomes even more critical.
“Stewardship must now be exercised with sharper focus on consolidation, confidence, and stability,” he said.
Cardoso explained that stewardship required directors to safeguard institutions for the long term while creating value for stakeholders.
He said this entailed guiding institutions through economic cycles, ensuring transparency and accountability, and embedding strong risk management practices to protect against shocks.
“This era calls for directors who are not passive overseers but active stewards, leaders who balance profitability with sustainability, and compliance with innovation,” he added.
The CBN governor noted that directors’ responsibilities now extended beyond boardrooms, especially at a time of heightened regulatory expectations and the need to rebuild stakeholder trust.
He emphasised the need for strategic foresight as institutions navigate technological disruption, global competition and evolving customer demands.
“The Central Bank views directors as partners in ensuring that re-capitalisation and regulatory reforms translate into stronger institutions, not just larger balance sheets,” he said.
Cardoso urged the newly inducted directors to see their induction as a call to service, stressing that their decisions would shape the future of the nation’s economy.
He reaffirmed the commitment of CBN to engaging with directors to build a resilient, inclusive and globally competitive financial system.
“Together, regulators and directors can ensure that Nigeria’s financial sector remains a pillar of strength, supporting sustainable growth and prosperity for generations to come,” he said.
In his remarks, President, CIoD, Mr. Adetunji Oyebanji, described the induction as a rite of passage and an opportunity for new members to understand their responsibilities.
Oyebanji said membership of the Institute offered access to a network of thought leaders across sectors and a platform for high-level intelligence and professional development.
He described the value of their membership as a non-static benefit.
“It is a dynamic ecosystem. Its strength depends entirely on the intellectual and professional energy you invest back into this collective,” he said.
