The Central Bank of Nigeria (CBN) has stressed the role of directors in navigating the post-recapitalisation landscape, noting that the reform was not simply a regulatory requirement, but a strategic move to strengthen resilience, enhance investors’ confidence and ensure that institutions are positioned to support sustainable economic growth.

The CBN Governor, Olayemi Cardoso, said this in a keynote during an induction ceremony by the Chartered Institute of Directors Nigeria (CIoD), where he spoke on ‘Stewardship in Times of Reform: Consolidation, Confidence and Stability in the Post-Banking Recapitalisation Era’.

Represented by the Director, Banking Supervision Department (BSD), CBN, Dr Olubukola Akinniyi, Cardoso said the CBN has complemented recapitalisation with regulatory measures designed to strengthen governance and empower directors, stating that where governance fails, the regulator must act to safeguard depositors and the economy.

He said the apex bank viewed directors as partners in ensuring that recapitalisation and regulatory reforms translate to stronger institutions and not just larger balance sheets.

The CBN boss said as the country entered the new phase, the role of directors becomes even more critical as that stewardship must be exercised with a sharper focus on consolidation, confidence and stability.

He said directors’ responsibilities extended beyond boardrooms, stressed that they are custodians of governance in a time when regulatory expectations are higher, requiring boards to align with prudential standards.

He observed that stakeholder trust must be rebuilt and sustained even as he expressed the bank’s readiness to engage with the institute to provide clarity and to work collaboratively in building a financial system that is resilient, inclusive and globally competitive.

Welcoming the over 300 newly inducted members, President and Chairman of the Governing Council, CIoD Nigeria, Adetunji Oyebanji, urged them to leave a lasting mark on the policies that would define the future of the Nigerian economy.