By Peter OBIORA InvestAdvocate

The Central Bank of Nigeria (CBN) Tuesday said its currently reviewing the extant Code of Corporate Governance for Banks in Nigeria.

This is contained in a Statement signed by C.O Chukwu Director, Financial Policy and Regulation Department of the CBN and made available to www.investadvocateng.com.

“The review is intended to strengthen governance practices, eliminate perceived ambiguities in and align the code with current realities and global best practices’ the CBN said.

According to the Statement, Nigeria’s Central Bank has also developed Guidelines for whistle-Blowing in the Nigerian Banking Industry. “The guildelines represent the minimum standards for whistle-blowing which all financial institutions under the supervisory purview of the CBN shall be required to comply with” the CBN said.

The CBN said in line with the Bank’s resolve to carry along all stakeholders in the effort to entrench good corporate governance practices in the industry, the documents are being exposed for comments/inputs.

“Consequently, the exposure drafts of the revised code and the whistle-blowing guildelines are attached herewith for your review, comments and inputs. the exposure drafts can also be accessed at the CBN Website www.cbn.gov.ng” the CBN said.

Click here to download full Guideline