Tag: Financial System Stability

  • NDIC harps on financial system stability

    Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have reiterated their commitment to the formulation of sound policies to enhance the safety and stability of the nation’s financial system.

    The Chairman, Mrs. Ronke Shokefun stated this at the opening ceremony of the maiden retreat for members of the Board in Abuja.

    As a critical member of the Nigeria financial safety net, Mrs. Shokefun said the new Board is committed to providing the NDIC with the desired leadership required to enable the nation achieve its goal of becoming one of the top twenty economies in the world by Year 2020.

    According to her, “As people of proven integrity, we are to collectively paddle the boat of NDIC in particular and that of the nation’s banking sector in general to safety.

    “We owe this very important organisation and the nation that duty in order to justify the confidence reposed in us by His Excellency, President Muhammadu Buhari”.

    The Chairman described the role of the Board as critical in the achievement of the Corporation’s mandate, adding that the retreat will enable members gain full insight into the Corporation’s mandate, its operations, achievements and challenges.

    “The induction program will provide the Board with the in-depth knowledge required for the formulation of policies to ensure enhanced service delivery by the Corporation,” she added.

    The NDIC Managing Director/Chief Executive, Umaru Ibrahim expressed hope that the retreat will provide the new Board with the critical information and insight on the activities of the Corporation ahead of their assumption of office.

     

  • Moghalu lauds Ekwueme’s contributions to Nigeria’s unity

    Moghalu lauds Ekwueme’s contributions to Nigeria’s unity

    Former Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability, Prof.  Kingsley Moghalu has eulogized former Vice President of Nigeria, Dr. Alex Ekwueme. In a speech delivered at the memorial service for Ekwueme in London, United Kingdom, Moghalu said the former number two citizen helped to unity the country.

    Excerpts….

    The great Greek philosopher and scientist Aristotle once wrote. “Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.”

    Nigeria sometimes feels like a nation that has lost its direction. In many ways, we are a country that sees excellence as difficult to achieve in leadership and many of us feel powerless to change it. Then every so often, someone comes along repackaging old promises in a shiny new box, telling us they are the answer to all our woes, only to leave us disappointed once again. What is the result? A place where almost 200 million people fight to secure their individual destiny, where the collective good is often an afterthought. That is not a country.

    Dr Alex Ekwueme spent his career and his life seeking to unify us all as a nation, using the weapons of honesty, integrity, and truth. As a business man, as a politician, and as a philanthropist, his goal was to always use the power of unity to build better things—whether it was a people, a party, or a country. His vision was to build a nation with one goal, and one dream, with all of us working as one to lift all our boats in collective prosperity.

    As we gather here today to remember the man we must learn from his legacy. Unity is a formidable weapon. It can move mountains, it can change tides. It can reform a nation and set us on a path to fulfilling our destiny as a true giant of Africa. We must learn to compromise—wisely—and accept our differences to come together for the greater good. The Ide was a man who ultimately believed in the equality of all citizens of Nigeria, and our ingenuity in finding solutions.

    As we remember his selfless work, we Nigerians must put our heads together to defeat our sense of persecution and speaking in one voice, aligned in purpose to build something great. Young and old, man and woman, we all must take the lessons from his life and apply them to everything we do, and Nigeria will be a nation reformed and reborn. We must learn to vigorously inspire each other using the strengths and uniqueness of our differences, the unparalleled skill of enterprise and the passion for innovation he that our people are famous for. The Ide pushed the cause for his kinsmen to fire the competitive spirit that built excellence in the nation.

    As we mourn our father, kinsman, mentor, friend, and fellow comrade, let us remember to uphold the values he believed in. Let us as citizens stride forward collectively and work for a more prosperous and egalitarian society. His legacy demands much of us; asking us to be active participants in seeking the leadership that can truly make Nigeria the very best version of itself as a country, of us as a people. To remember and honor him will not be in the eulogies we will share today but in our lives, expressing the values he lived for.

    We must move to make him proud by putting ourselves up for service to fill the big shoes he has left and work to right the wrongs of this nation. We must make Ide proud by ensuring Nigeria works even beyond what he would have dreamed. The iroko may have fallen but the seeds have taken strong root in fertile ground.

    On behalf of myself, and the entire family of the late Elder Isaac Moghalu, my late father, I would like to express our deepest condolences to the family of the Ide. Our thoughts and prayers are with his son, Pastor Goodheart Obi Ekwueme and his daughter Mrs. Chidi Onyemelukwe and her husband Dr. Okey Onyemelukwe, who are close friends of my wife and me.

    In his habits and in his actions, the Ide was truly a man who lived up to his name, Alexander, “defender of men”.

    May he rest in peace.

  • Ex-CBN deputy governor Moghalu mourns Ekwueme

    Ex-CBN deputy governor Moghalu mourns Ekwueme

    Former Central Bank of Nigeria (CBN) Deputy Governor, Financial System Stability, Kingsley Moghalu has reacted to the passing of the former Vice President of Nigeria and the Ide of Oko, Chief Alex Ekwueme.

    In a statement, Moghalu said that with the passage of Ekwueme, Nigeria has lost a rare gem, Anambra a kinsman, Africa a true statesman who dedicated a lifetime to service.

    “On behalf of myself, and the entire family of the late Elder Isaac Moghalu, my late father, I would like to express our deepest condolences to the family of the Ide. Our thoughts and prayers are with his son, Pastor Goodheart Obi Ekwueme who was my church pastor in Abuja while I was with the CBN, his daughter Mrs. Chidi Onyemelukwe and her husband Dr. Okey Onyemelukwe, who are close friends of my wife and me,” Moghalu said.

    He said the late Ekwueme lived a life of inspirational vision in both private and public service. “As an entrepreneur, he defined a new generation of indigenous architects when he founded Ekwueme Associates, Architects and Town Planners, the first of its kind in Nigeria, a bold statement that defined a Nigeria proud of its homegrown talent. As the first elected Vice President of this country, he was the epitome of excellence and selfless service to his nation and to the people he served. Ide drove the socio-economic and educational advancement of all Nigerians. He was an example of true courage in the midst of adversity,” he said.

    “As we mourn our father, kinsman, mentor, friend and fellow comrade, let us remember to uphold the values he believed in. Let us as citizens stride forward together and work for a more prosperous and egalitarian society. His legacy demands much of us; asking us to be active participants in seeking the leadership that can truly make Nigeria the very best version of itself as a country, of us as a people,” he added.

  • Moghalu to speak at Goddy Jidenma Foundation

    Moghalu to speak at Goddy Jidenma Foundation

    Former Central Bank Deputy  Governor, Financial System Stability,  and Founder, Institute for Governance and Economic Transformation (IGET),  Prof. Kingsley Moghalu, will be speaking  at the 2017 edition of Goddy Jidenma Foundation (GJF) bi-annual Public Lecture.

    The event holds tomorrow, November 15, at the Nigerian Institute of International Affairs, Victoria Island, Lagos,

    Speaking on the theme ‘The Challenge of Economic Growth in Nigeria’, the former United Nations official will join other leaders at the event to promote ethical leadership initiatives, promote self-discovery among Nigerian youths and thought leadership discussions that would contribute significantly to the socio-economic development of Nigeria and Africa.

    Led by renowned political economist Pat Utomi, the Goddy Jidenma Foundation is a non-profit, non-governmental organisation founded in 2007 in memory of Goddy Nwaolisa Jidenma, an architect who dedicated his life in service to humanity.

    Prof Moghalu is an expert in International Business and Public Policy, having previously worked with the United Nations for 17 years at duty stations in New York, Cambodia, Croatia, Tanzania and Switzerland. As a Director, he led successful projects in accountability and regulatory reform as a Member of the high-level Redesign Panel on the UN Internal Justice System appointed by Secretary-General Kofi Annan in 2006.

    As Deputy Governor of the Central Bank of Nigeria from 2009-2014, Moghalu led the execution of extensive reforms in the Nigerian banking system after the global financial crisis. He was also member of the Bank’s Monetary Policy Committee that brought inflation down into single digits.

    Moghalu served as Chairman of the Boards of Directors of the Nigerian Export-Import Bank (NEXIM) and the Financial Institutions Training Centre. He was also Member of the Board of Directors of the Central Bank of Nigeria, the Securities and Exchange Commission (SEC), the Asset Management Corporation of Nigeria (AMCON) and the global Alliance for Financial Inclusion (AFI).

    He is the recipient of several honours including the Nigerian national honour of Officer of the Order of the Niger (OON); Fellow of the Chartered Institute of Bankers (FCIB) of Nigeria, and the Honorary Doctorate, Doctor of Laws (LL.D.) Honoris Causa awarded him by Anambra State University.