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BANK DEBTORS LIST CONTROVERSIES SIGNALS SERIOUS CORPORATE GOVERNANCE GAPS FOR BANKS

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Professor Hubert Rampasad, one of the worlds most respected corporate governance gurus, has said that the controversies trailing the publication of bankdebtors is not only embarrassing but confirm need for new corporate governance blueprint for financial institutions in Nigeria. The nature of the emerging controversies signal some deep seated corporate governance gaps.

Professor Hubert, who is in Nigeria to speak on “New blueprint for sustainable Good Corporate Governance for Financial Institutions” made the remark on Thursday, August 6 2015 at a reception in Lagos organized to welcome him to Nigeria for the Senior Executive Certificate Programme on Good Governance and Anti-Corruption Management Information System for Financial Institutions being organized by Babcock University Centre for Development and Ethics Resource Centre Nigeria. Professor Hubert is the Guest Lecturer at the Theworkshop scheduled to hold at Babcock University from 11th to 13th august, 2015.

Professor Hubert said he is surprised that many of the published debtors are claiming that they have no banking relationship whatsoever with the banks they are supposed to be owing. He is also surprised that some of the companies published as debtors are claiming that they were registered long after the period they were said they have taken the loan. Also surprising is the report that four banks hold 34% of industry’s toxic assets.

Professor Hubert Rampasad

Professor Hubert Rampasad

Professor Hubert said that his presentation will show why conventional cooperate governance practices failed in developing countries and are failing in financial institutions in Nigeria. He said that Nigerian banks may be suffering from the same malady that led to the collapse of some of some backs in other countries. The list of notable banks, insurance and other financial institutions that were taken over, merged, nationalized, liquidated or declared insolvent since 2007 on account of defective corporate governance practices includes Netbank, Northern Rock, ABN AMRO, Rosklde Bank, Fannie Mae, Freddie Mac, American International Insurance Group, Lehman Brother, etc.

He promised that his presentation will offer the solution by way of a new Corporate Governance Blueprint for financial Institutions.
Professor Hubert Rampersad is a Dutch National resident in the USA and an authority on governance, branding , personal leadership branding and human performance management. He is president of Authentic Governance Institute and Chairman of the Technological University of the Americas in the USA. He is prominent author of the bestsellers books “Total Performance Scorecard: Redefining Management to Achieve Performance with Integrity” ;“Personal Balance Scorecard- The way to Individual Happiness, Personal Integrity and Organizational Effectiveness”,“TPS-Lean Six Sigma; Linking Human Capital to Lean Six Sigma- A New Blue Print for Creating High Performance Companies”, “Authentic Personal Branding: A New Blueprint for Building and Aligning your Brand”, and “Be The CEO of Your Life: The Ultimate Authentic Personal Branding Formula for Standing Out from the Crowd” and “Authentic Governance”, which have been published in many languages and endorsed by leading Professors at Harvard Business School, MIT and Yale School of Management. His was featured in Fortune Magazine and BusinessWeek and he was Guest Professor at MIT Sloan. Proffesor Rampersad has conducted presentations, workshops and seminars for leading companies such as: Nokia, Philips Electronics, Lucent Technology, ABNAMRO Bank, and Shell Oil Company.

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