Business Hilights

Tracking Nigeria's Headline Business News Online

CIBN logo

CIBN tribunal may sanitise industry if it’ll get legal backing—Udoh

Ad 2
Ad 3

A Port Harcourt based lawyer, Chief Clement Udoh has called for an authentic legal backing via an act of the parliament for the new role of trying erring bankers by the Chartered Institute of Bankers of Nigeria (CIBN) disciplinary tribunal.
The tribunal is expected to sanction bankers that breached the industry’s operational guidelines. He said even though the Federal Government has approved the rules that will guide the operations of Chartered Institute of Bankers of Nigeria (CIBN) disciplinary tribunal, there is still need for the activities of the tribunal to be binding, saying “This can only be possible and legal if the parliament sanctions the new role via an Act”.
CIBN had in a statement, announced that the government approval has further strengthened members/customers’ confidence in the industry.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami consented to the rules on behalf of the Federal Government.
The rules prescribe the proceedings to be observed by the tribunal in the hearing and determination of complaints as well as recommending appropriate sanctions to be meted out to erring members of the institute upon establishment of a prima facie case by the investigating panel.
The tribunal which also looks into cases of ethical and professional misconducts by members of the institute, will be involved in the appointment of chairman and other members of the Disciplinary Tribunal; reference to the Disciplinary Tribunal; convening of the Tribunal; composition and proceedings of the Tribunal; parties to the proceedings before the Tribunal, service of processes, among others.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.