The Central Bank of Nigeria (CBN) has announced plans to
conduct a bi-annual test for Chief Executive Officers (CEOs) of
Nigeria’s deposit money banks to ensure the capacity of the chief
executives.
The
assessment which will be conducted by the CBN is to ascertain whether
they (The CEOs) are fit to continue to hold sway as the heads of those
institutions.
The exercise tagged “Fit and Proper Persons Test” will be a key
determinant whether a bank CEO’s tenure is to renewed afterwards or not.
Such a decision will be depended on the level of his/her performance.
In a circular reminding all Managing Directors/ CEOs of deposit money
banks and discount houses of the development, the CBN said they would
be assessed based on their response to issues such as examiners report,
external auditors’ letters/ reports, as well as customers’ complaints,
among others.
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