Leadership (Abuja)
Mansur Sani Malam
18 November 2009
Kano — The British government supports the banking system reforms made by the Central Bank of Nigeria (CBN).
This was disclosed yesterday by the British High Commissioner in Nigeria, Bob Dewar, at a public lecture on "Governance: Why it matters", organized by the Centre for Democratic Research and Training, Mambayya House, Bayero University, Kano.Bob Dewar said the problems already being revealed in the country's banking system are able to be discerned more clearly and addressed.
He added that the importance of reforms include better regulation, better supervision and more transparency. So, he said, in view of this, they support what the CBN Governor is aiming to do to reform the banking sector and improve these aspects and are keen to help.
He explained that Nigeria is a country blessed by many resources, particularly oil and gas and agriculture, resources that bring revenue which can be used for investment and development for the public interest.
He stated that each citizen in each country deserved public money to be used for their benefit in terms of services such as education and health and infrastructure, and the precise priorities of such spending in any country are usually decided through dialogue between the Executive and elected Assembly.
The High commissioner reiterated that public money should be used for public benefit and not for private purposes, because taking public money for oneself is stealing and corruption.
He added that transparency and accountability are at the heart of a democratic system with one often strengthening the other, and it can build confidence in elected leaders by showing that public resources are being used in the public's interest to deliver public services. He said failure to live up to such expectations can reduce the trust that citizens have in their leaders and undermine the legitimacy of those leaders.
Bob Dewar said the British government has supported Kano and other states in their efforts to improve the systems for managing their own resources and reduce losses to corruption.
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