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CBN and The Community

University Aid | Sports | Govt & Professionals | Other Aids | Discussion Forum

Capacity Building For Governmental
And Professional Institutions 

The CBN has also extended assistance to other governmental bodies/agencies in its community development efforts. Some of the institutions which have so far benefited under this scheme include the following:

1. National Assembly
   To aid the development of sound legislative process, the CBN between 2003-2005, contributed the sum of N50m to build legislative capacity in the National Assembly through Senate Committee on Banking, Finance, and other Financial Institutions and House Committee on Banking and Currency. Also, the CBN sponsored the workshop of the House Committee on Capital Markets with the sum of N2.8m. The Bank also donated the sum of N500,000.00 to the House Committee on Housing & Urban Development.
    
2. Economic and Financial Crime Commission (EFCC)
   To ensure that financial and economic crimes are reduced to the barest minimum in the country, the CBN in its support for “war against economic and financial crimes” donated the sum of N60.5m to EFCC for the purchase of Office furniture and IT equipment in 2003 while the sum of N2m was donated to the Agency for organising the National Seminar on Economic Crimes in 2005. Also the Management of the Bank sponsored 3 members of staff of the Economic and Financial Commission to attend a specialist program on Counter Fraud and Counter Corruption which held in the month of March 2007 in Reading, United Kingdom. The course was run by the Counter Fraud Service of the National Health Service, United Kingdom. It enabled them to acquire skills in intelligence gathering, investigation, fraud analysis, cyber crime, exhibit handling, witness and suspect interviews, statement writing, prosecution and media skills.
    
3. Investment and Securities Tribunal (IST)
   The CBN contributed the sum of N10m to assist the Investment and Securities Tribunal (IST) in the dischanrge of its duties.
    
4. Financial Institutions Training Centre (FITC)
   In order to enable the FITC achieve its objective of training employees of various Financial Institutions in the country, the CBN gives annual subvention to the FITC. Consequently, the CBN gave the sum of N20.5m to the FITC in 2006.
    
5. Seminar for Finance Correspondents and Business Editors
   The 1st run of the 2008 seminar which is the 12th in the series was held at Tahir Guest Palace, Kano from 23rd to 25th May, 2008 with the theme “Micro Finance: Reducing Poverty Through Better Credit Delivery”. The following topics were covered: Overview of Credit Delivery Channels in Nigeria; Micro Finance Policy Framework in Nigeria; Reducing Poverty through Better Credit Delivery - The Asian Experience; The Role of Micro Finance Institutions in the Economic Development of Nigeria; Institutional Reforms for Efficient Micro Finance Operations in Nigeria; Beyond Finance: Poverty Reduction Strategies in Nigeria; and Effective Communication for Poverty Reduction in Nigeria. It will be recalled that the Finance Correspondents and Business Editors Seminar was initiated in 1996 to foster a closer relationship between the Bank and the Media. It is also a platform used to facilitate better education and enlightenment of the public through capacity building of Finance Correspondents and Business Editors. The seminar started as an annual event but metamorphosed into a bi-annual seminar in 2006 because of its benefits.
    
6. Professional Institutions
   The CBN gives assistance to professional bodies such as the Nigeria Economic Society (NES), Chartered Institute of Bankers of Nigeria (CIBN), Institute of Chartered Accountants of Nigeria (ICAN), the Nigeria Bar Association (NBA), amongst others, to enable them be effective and efficient in service delivery. The Bank also sponsor its employees who are members of these professional associations to the Annual General Meetings of these bodies. A good number of CBN staff are members of these professional bodies.