At a recent meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Prince Akamadu, Chairman Prince Akamadu urged internal auditors to lead efforts to rebuild trust in Nigeria's banking sector.
"Trust is the foundation of our industry, and as chief audit executives, it is our duty to uphold transparency and accountability," Akamadu said. “We must ensure that risks are effectively managed and that the highest standards of corporate governance are maintained.”
The event, themed "Building and Sustaining Trust in the Nigerian Banking Industry: The Role of Internal Audit," brought together stakeholders from the banking and regulatory sectors in Nigeria. Sterling Bank's Managing Director, Abubakar Suleiman, stressed that public confidence depends on “how well we manage risks, ensure financial integrity, and maintain regulatory compliance.”
Rabiu Olowo, Executive Secretary of the Financial Reporting Council, echoed these sentiments, arguing that internal auditors are critical for "ensuring that strong governance structures are in place" and maintaining public trust. Similarly, Akin Morakinyo, Registrar of the Chartered Institute of Bankers of Nigeria, underscored the auditors' role in fostering a culture of accountability and ensuring the credibility of financial institutions.
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