Kurt Kendis, Chief Executive Officer of The Banking Group, a US-based financial data and training firm, has said that only good corporate governance could guarantee shareholders investments in banks. Reacting to the public discourse over alleged plans by the Central Bank of Nigeria (CBN) to sell the eight banks whose chief executives were sacked and in which it said it had injected about N620 billion, the banking expert said share or bond holders often lose out when management fail to run the bank properly, especially as the 'banking system is the most important to protect'
In an e-mail exchange with The Guardian, Kendis said the current issues in the banking sector struck a nerve not just for Nigeria, but all around the world, as efforts were often made to ensure that depositors do not lose their money.
He queried: "What about other bank customers - especially the small companies (again not just in Nigeria but all around the world) - who need bank loans and other services to function and, at the same time, create jobs?
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