CJN calls for stronger synergy between judiciary, financial regulators

The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, has called for stronger collaboration between the Judiciary and financial regulators to ensure legality, trust, and stability in Nigeria’s banking and financial system.

Speaking at the opening ceremony of the 2025 capacity building workshop on banking and financial services sector, jointly organised by the National Judicial Institute (NJI) and the Central Bank of Nigeria (CBN) in Abuja on Thursday, the CJN emphasised that the rule of law and sound regulation are the twin pillars of a stable and prosperous economy.

In her address, titled ‘Judicial Oversight and Financial Regulation: Building Trust and Stability in Nigeria’s Banking Sector’, Justice Kekere-Ekun highlighted the critical role of the courts in safeguarding fairness, legality, and accountability within the financial system.

She said, “While the functions of the Judiciary and the financial sector are distinct, they are deeply interconnected. When these institutions operate in harmony, the result is a resilient financial system and sustained public confidence.

“Conversely, when there is misalignment, trust is eroded, and economic growth is impeded”, the CJN added and further stressed that judicial oversight does not obstruct regulatory policy but strengthens it by ensuring that such policies operate within the bounds of the law.

She noted that the courts play a vital role in interpreting the scope and limits of regulatory powers while protecting stakeholder rights.

Justice Kekere-Ekun, who drew attention to emerging challenges in the financial landscape, particularly in areas such as digital banking, fintech innovations, cyber risks, and consumer protection, also warned that, while technology-driven solutions have enhanced financial inclusion and efficiency, they have also introduced new vulnerabilities.

“Judicial officers must ensure that contractual obligations are honoured, disclosure requirements enforced, and the principle of good faith upheld. We must also be vigilant against abuse of court processes that frustrate legitimate debt recovery and undermine confidence in the financial system.”

The CJN underscored the importance of continuous judicial education, urging judges to update their knowledge in specialised and technical areas like banking, finance, and digital innovation. She noted that, “The law cannot stand still while commerce and technology advance.

“Workshops such as this are invaluable in equipping the Bench with the tools and insights required to navigate these complexities”, she said.

Earlier in his address, the Administrator of the National Judicial Institute (NJI), Justice Babatunde Adejumo, had emphasised the crucial role of the Judiciary in ensuring stability, trust, and fairness in the country’s financial and banking sectors.

Justice Adejumo noted that the Judiciary plays a pivotal stabilising role in ensuring that financial reforms, regulatory measures, and economic policies are firmly grounded in fairness, legality, and justice.

According to the NJI boss, “The health of our banking and financial systems depends not only on sound monetary policies but also on the integrity, wisdom, and credibility of the Judiciary.

“Through its pronouncements and interpretations, the Judiciary maintains the delicate balance between economic policy and the protection of rights”, he said and described the workshop as more than a routine training, calling it “a deliberate effort to bridge knowledge and justice,” and a platform for promoting trust, transparency, and synergy between the Central Bank and the Judiciary.

Justice Adejumo outlined key areas of focus for the workshop, including the scope of the Central Bank’s regulatory powers, loan recovery challenges, credit enforcement, consumer protection, and financial inclusion.

The workshop, themed ‘Judicial Oversight and Financial Regulation: Building Trust and Stability in Nigeria’s Banking Sector’, aims to deepen understanding among judicial officers and financial regulators on the intersection between law, policy, and economic stability.

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