President, Association of Corporate Treasurers of Nigeria (ACTN); Ishmael Nwokocha (left), members; Dara Ogunseinde and Tumi Sekoni, Executive Secretary/CEO; Patrick Ajunwoko during the association’s breakfast meeting held in Lagos.
President, Association of Corporate Treasurers of Nigeria (ACTN); Ishmael Nwokocha (left), members; Dara Ogunseinde and Tumi Sekoni, Executive Secretary/CEO; Patrick Ajunwoko during the association’s breakfast meeting held in Lagos.

Tasks members on professionalism, transparency

The Central Bank of Nigeria (CBN), the lender of last resort, has urged corporate treasurers to demonstrate their professionalism in ensuring effective financial intermediation in the nation’s financial system.

Financial intermediation facilitates the channelling of funds between lenders and borrowers indirectly, whereby savers/lenders give funds to an intermediary such as a bank, building society, insurance company, investment bank or pension fund, which gives the funds to spenders/borrowers.

The Deputy Governor, Economic Policy, CBN, Sarah O. Alade, who maintained that the survival of the financial system rests on the shoulders of corporate treasurers, also tasked them on effective monetary policy transmission to facilitate financial intermediation.



The Association of Corporate Treasurers of Nigeria is a professional Association launched on December 12, 2012, to foster the interests of corporate treasurers of the buy-side and non-bank sell-side of the Nigerian financial markets. They provide the platform for policy advocacy, discussions on issues of mutual interest, education/enlightenment and standards development of the corporate treasury function.
Treasury management/operations include the management of an enterprise’s holdings, liquidity, cash, funding and capital markets by mitigating its operational, financial and reputational risk.

Alade spoke at the maiden Breakfast Meeting of the Association of Corporate Treasurers of Nigeria (ACTN) held in Lagos, with the theme: “The Economic Outlook for 2017 and its impact on the Corporate Sector.”

She said: “As treasurers, you are in a vintage position to know where the shoes pinches and you can collectively address the nuances in the system.

“As treasurers, you all know that stability is a key business objective. The weather ahead is not so friendly but dogged determination by your good selves would help ride the stormy headwinds.”

Alade, who was represented by the Director, Monetary Policy, CBN, and Moses Tule at the occasion, admitted that achieving appropriate macroeconomic policies has continued to pose great challenge to the monetary authorities.

“The monetary authorities are currently faced with very difficult choices in the trade-offs between tackling inflation, supporting growth and exchange rate stability. The macroeconomic environment in 2017, given the imperative to finance growth, would be quite challenging for monetary policy.”

She explained that there are indications of strong fiscal injections arising from increased activity leading to pressure on the exchange rate and upward price trends against the environment in the advanced markets in 2017.

Alade, however, added that corporate treasurers hold the key to financial system stability and growth in 2017.

“The CBN expects its intervention to remain squarely measured, but largely tilted towards price stability conducive to growth. Dwindling credit to private sector in spite of the liquidity surfeit (surplus) in the banking system remains a puzzle contrary to conventional wisdom.