BY EDMOND ODOK – In keeping with its good corporate governance and ethics, the Development Bank of Nigeria (DBN) has again emerged as the highest-ranked public institution in Nigeria in the 2023 Transparency and Integrity Index (TII) released by the Centre for Fiscal Transparency and Integrity Watch (CeFTIW)
Packaged by the CeFTIW, in collaboration with the Bureau for Public Sector Reform, as well as support from the MacArthur Foundation, the index assessed 511 Ministries, Departments and Agencies (MDAs), and public sector institutions on their level of transparency and accountability in government processes.
In retaining its top position, the DBN scored 73.26 percent to move up from the 58.74 percent it recorded in 2022. According to the reports, this is a testament to the Bank’s commitment to promoting transparency, accountability, and proactive partnerships.
Secretary to the Government of the Federation (SGF), Senator George Akume, who spoke at the public presentation of the TII, said; “proactive disclosure of information as enshrined in the Freedom of Information Act (FOI) seeks to enable public institutions to adopt a proactive stance in disclosing information to the public”.
Akume, represented by the Permanent Secretary, Cabinet Office, Mr. Maurice Mbaeri, said while access to information is a powerful tool that empowers citizens to request and access government-held information, these “tools are essential to reinforce good governance as it enhances openness and accountability”.
In her remarks at the occasion, the Chairman, Board of Trustees, CeFTIW, Ambassador Angela Nworgu said the Centre introduced the TII as an annual assessment of public institutions’ compliance with national laws and international conventions that promote transparency, and accountability and minimize corruption.
She explained that; “The Index was developed to strengthen already existing fiscal transparency legal frameworks, institutional capacity on the requirement of these frameworks”, adding that it was most importantly meant to “build a well-informed citizenry that holds the government accountable.”
On his part, the Managing Director and Chief Executive Officer of DBN, Dr Tony Okpanachi, while expressing delight at the report, described the positive ranking as a reflection of the Bank’s good corporate governance, ethics, and processes.
He stated thus; “Once more, the recent CeFTIW ranking highlights our commitment to upholding strong corporate governance practices and fostering transparent and excellent relationships with our various stakeholders, strategic partners, and clients. These principles remain central to our institutional core values.”
Further highlighting the importance of the positive rating, Dr Okpanachi said; “This report underscores our unwavering dedication to fulfilling our mandate, which involves addressing the financing challenges encountered by Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria.
“We achieve this by offering financing, partial credit guarantees, and technical assistance to eligible financial intermediaries in a manner that aligns with market conventions and ensures complete financial sustainability.
With a pledge to actively and continuously promote the principles of accountability, transparency, sustainability, excellence, diversity, and innovation, Okpanachi assured that the management would ensure these values are deeply embedded in DBN’s corporate philosophy going forward.
