The Chief Justice of Nigeria (CJN), Kudirat Kekere-Ekun, has issued a stern warning to judicial officers against any abuse of court processes that frustrate legitimate debt recovery efforts, cautioning that such practices seriously undermine confidence in the country’s financial system.
Speaking at the opening of the 2025 Capacity Building Workshop on the Banking and Financial Services Sector in Abuja—an event jointly organized by the Central Bank of Nigeria (CBN) and the National Judicial Institute (NJI). Justice Kekere-Ekun emphasized that efficient loan recovery is central to maintaining financial stability.
She highlighted the adverse effects of protracted delays in enforcing credit obligations, noting they weaken financial institutions, distort their balance sheets, and constrain liquidity.
The CJN urged judges to uphold contractual obligations, enforce disclosure requirements, and adhere firmly to the principle of good faith in commercial dealings. She stated, “We must also be vigilant against abuse of court processes that frustrate legitimate debt recovery and undermine confidence in the financial system.”
According to Kekere-Ekun, a judiciary that acts decisively in this regard not only protects individual citizens but also reinforces the integrity and credibility of Nigeria’s financial system.Justice Kekere-Ekun further stressed that a well-functioning financial sector depends equally on sound regulation and a judiciary respected for its competence, impartiality, and courage to administer justice without fear or favor.
She encouraged judicial officers to continuously update their knowledge, especially in specialized and technical fields such as banking, finance, and digital innovation, underscoring that the law must evolve alongside commerce and technology.
The workshop’s theme, “Judicial Oversight and Financial Regulation: Building Trust and Stability in Nigeria’s Banking Sector,” captures the vital intersection between effective financial regulation and robust judicial review. The NJI Administrator, Justice Babatunde Adejumo (rtd), emphasized the judiciary’s role as a stabilizing force amid ongoing financial sector reforms, including recapitalization initiatives and the introduction of complex digital financial products.The Executive Director of Legal Delight Consulting, Omotan Ogunmodede, noted that the workshop presents an invaluable opportunity for judges to deepen their understanding of the banking sector, engage directly with the Central Bank of Nigeria, and offer critical insights to inform regulatory approaches.
As Nigeria advances its financial services landscape, Justice Kekere-Ekun’s remarks underscore the judiciary’s pivotal responsibility in ensuring that legal processes support economic stability and foster public trust. Judicial officers are thus called upon to exercise their duties with integrity and efficiency to safeguard Nigeria’s financial future.
