By Kolawole Ojebis
Barring last-minute change, the Central Bank of Nigeria is set to launch an externally hosted whistleblowing platform on January 1, 2025.
The purpose of the platform, according to the apex bank, is to foster a culture of integrity, transparency, and operational excellence within its ranks and across the Nigerian financial system.
This is contained in a document in the latest CBN update for December 2024.
According to the document, the platform represents a significant step toward creating a safe environment for employees, vendors, consultants, executives, and other stakeholders to report instances of personal and professional misconduct, unethical behaviour, or violations of the law
The bank emphasised that the platform has been designed to ensure individuals can make reports without fear of retaliation.
“In furtherance of management’s commitment to promoting an organization with high ethical standards, honesty, and integrity, the Central Bank of Nigeria is launching a new externally hosted platform to manage whistleblowing.
“This marks a significant step toward creating a safe environment for employees, vendors, consultants, executives and other stakeholders to report incidences of personal and professional misconduct, unethical behaviour, or violations of the law without fear of retaliation,” the document read.
The platform will reinforce the CBN’s commitment to upholding the highest standards of integrity internally and, by extension, within the broader Nigerian financial system.
All reports submitted through the channel will be investigated promptly and handled with the utmost confidentiality and professionalism.
The bank assured whistleblowers that all concerns raised would be treated with care to protect their identities and rights.
The document read, “All reports made via this channel will be investigated by the Bank promptly and treated with utmost confidentiality and professionalism, ensuring that every concern is taken to protect the whistle-blower.
“The new reporting channel will go live on 1st January 2025, and further details will be shared soon as the Bank continues to promote a culture of operational excellence.”
By introducing this platform, the CBN aims to strengthen accountability and ensure adherence to ethical practices within the financial sector.
The launch of this whistleblowing platform underlines the Bank’s proactive stance in maintaining high ethical standards and its ongoing drive to safeguard the credibility of Nigeria’s financial system.
