The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has advised the staff of central banks and other African financial sector regulators to be more vigilant in their regulatory and supervisory roles to forestall any run on banks in their respective jurisdictions.Information Guide Nigeria

The CBN governor gave the advice in a statement yesterday at the opening of the African Central Bank Conference held at the Global Leadership Centre, Johannesburg, South Africa.

Emefiele who spoke on the global dynamics and specific policy developments in Nigeria to address emerging shocks advised central banks on the continent to draw lessons from the recent failure of Silicon Valley Bank (SVB) and Signature Bank in the United States.NYSC Portal

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According to him, this will be achieved by putting in place regulations that would prevent any run on banks in their countries.

THE NATION reports that Emefiele said, regulators must be alive to their responsibilities by ensuring that banks under their regulatory watch are financially healthy and do not suffer a similar fate as the Silicon Valley Bank, which, until its collapse recently, catered to many of the world’s most powerful tech investors.

As reported by THE NATION, topics discussed at the conference, declared open by the Prime Minister of Namibia, the Rt Hon. Saara Kuugongelwa, centred around “African Solution for African Problems” and “Africa’s Seat at the Table,” among others.

Lesetja Kganyago, Governor, Reserve Bank of South Africa, who also addressed other deliberations at the two-day confab, bordered on “Calibrating for a New World Order” and “Unlocking Development Finance and Mobilising Institutional Investors for Development in Africa”.JAMB Result

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