As long as Nigeria Banks prop up kingly bonuses, as long as there are few personal consequences for their chief executive officers (and board members and other top executives) for shoddy risk management, as long as bank owners are allowed to walk away with millions, nothing will change. The fact that shareholders or our economy are wiped out is no deterrent, and moral hazard will live on. All the best policies in the world will not work if foreign investors would still look and see Aondoakaa as our greasy-fingered Attorney-General.
What is needed is to show for example that we deliberately went after grand corruption because that is where the problem is. interrogate the Governors, the Senate President, and the Vice President. put a Bank Director in handcuffs. The moment we did that, the banks knew immediately that there were no sacred cows. We needed to send a strong signal that corruption will not be condoned and the cleansing process had to start from the stop”.