The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has hailed the CFA Society of Nigeria for its role of producing professionals who have contributed to the smooth functioning of the Nigerian financial system.
Sanusi gave the commendation in a key address at the recent inauguration and charter award Ceremony of CFA Society, Nigeria in Lagos.
The CFA Society Nigeria is member of the CFA Institute, a body leading the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. The institute leads the investment profession’s thinking in the areas of ethics, capital market integrity, and excellence of practice.
Speaking through the Deputy Governor, Corporate Services, Alhaji Suleiman Barau, the CBN governor noted that as professionals, critical analysis of the macro-economic dynamics, including identifying and proactively dealing with vulnerabilities that threaten the nation’s financial stability is imperative.
“The new chapter (in Nigeria), thus, offers us a unique opportunity to reflect on our roles both as individuals and corporate bodies, and the impact such might have on the financial system as a whole. It is important for us to understand the critical role each of us has to play in efforts to ensure a smooth functioning of the financial system. As the Nigerian financial system develops and is increasingly globalising, it is imperative to imbibe the culture of transparency, accountability and good governance,” he said.
Sanusi noted that over time, CFA has transformed into a reputable global institution that produces high quality professionals.
“The role is quite appreciated by regulators in the Nigerian financial sector as may be observed in our competency framework for bank employees which places high premium on CFA holders. In-house at the CBN, there is a deliberate policy to increase the number of CFA-certified professionals. To this end, staff members are actively encouraged to enroll and study for CFA certification,” he said.
The CBN boss noted that the financial system does not operate in a vacuum but within the legal, political and social fabrics of society.
It is operated by individuals and professionals who are expected to maintain the highest level of ethical standards to preserve the integrity of the system. Certification bodies, such as the CFA have become essential channels for entrenching ethical practice,” he declared.