Emefiele urges more vigilance in Banking Supervision after Collapse of Two US Institutions

, the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele is advising central bankers and regulators across the world to be vigilant and guard against failures of financial institutions in their jurisdictions.

The advise follows the closure of New York-based Signature Bank on Sunday by regulators, two days after they shut down Silicon Valley Bank in a collapse that stranded billions in deposits.

Owing to this, Emefiele who spoke at the opening of the 2023 African Central Bank Conference held at the Global Leadership Center, Johannesburg, South Africa, also advises governors of central banks to improve their supervisory roles.