Hot Source* As judiciary, CBN collaborate on building efficient, credible, stable financial system
Alex Enumah in Abuja
The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, has warned against the abuse of court processes that frustrate legitimate debt recovery in the country, pointing out that such act undermines confidence in the financial system.
The CJN, who stated that efficient recovery of loans remains central to financial stability, observed that protracted delays in enforcing credit obligations weaken institutions, distort balance sheets, and constrain liquidity.
She spoke on Thursday in Abuja, while declaring open the 2025 Capacity Building Workshop on Banking and Financial Services Sector, jointly organized by the Central Bank of Nigeria (CBN) and the National Judicial Institute (NJI).
While urging judicial officers to ensure that contractual obligations are honoured, disclosure requirements enforced, and the principle of good faith upheld, Kekere-Ekun said: “We must also be vigilant against abuse of court processes that frustrate legitimate debt recovery and undermine confidence in the financial system.”
She stated that the judiciary, by doing so would not only protect individual citizens but also reinforces the integrity and credibility of Nigeria’s financial system.
Meanwhile the CJN emphasized that a well functioning financial sector depends as much on sound regulation, as well as on a judiciary that commands public respect for its competence, impartiality and courage to do justice without fear or favour.
She therefore urged judicial officers to continuously update their knowledge, particularly in specialised and technical areas such as banking, finance and digital innovation.
“The law cannot stand still while commerce and technology advance. Workshops such as this are invaluable in equipping the Bench with the knowledge, tools and insights required to navigate these complexities.
“I therefore urge all participants to embrace this engagement as an opportunity to learn, to reflect, and to reaffirm our collective commitment to ensuring that financial regulation achieves its objectives within the framework of justice and the rule of law,” she added.
In a welcome, the Administrator, NJI, Justice Babatunde Adejumo (rtd), stated that the workshop underscores a shared commitment to fostering a judiciary that is not only independent, but also informed, adaptable and responsive to the evolving realities of the modern financial landscape.
He stated that the theme of the workshop, ‘Judicial Oversight and Financial Regulation: Building Trust and Stability in Nigeria’s Banking Sector,’ is very apt, because it captures the crucial intersection between effective financial regulation and the steadying influence of judicial review.
“The health of our banking and financial systems, and indeed the confidence they inspire in citizens and investors alike, depend not only on sound monetary policies but equally on the integrity, wisdom and credibility of the judiciary.
“Today’s financial environment is defined by recapitalisation initiatives, evolving regulatory frameworks, and increasingly complex digital financial products. Amidst these developments, the judiciary stands as a stabilising force, ensuring that every policy or regulatory measure is anchored on fairness, legality, and justice. Through its pronouncements and interpretation of the law, the judiciary performs a vital balancing role in maintaining the delicate equilibrium between economic policy and the protection of rights,” he said.
Also speaking, the Executive Director, Legal Delight Consulting, Omotan Ogunmodede, said that the workshop is aimed at providing an opportunity for judges to have expert understandings of these areas, engage with the CBN and also give valuable advice to the CBN.
