Effective judicial system, catalyst for financial system stability – CJN

The Chief Justice of Nigeria (CJN) Justice Ibrahim Tanko Muhammad has described effective judicial system as catalyst for financial system stability.

The CJN stated this Tuesday at the opening ceremony of the national workshop for judicial officers on recent reforms of banking and financial services law and practice.

The workshop which was organised by the National Judicial Institute (NJI) in collaboration with Juris Law and the Central Bank of Nigeria is themed: The Role of the Judiciary in Financial Stability in Nigeria.

The CJN said, it is a sine qua non to economic stability and development.

He added that the event was in line with the tradition of promoting scholarship and excellence among judicial officers in Nigeria.

He stated further that it was apposite, and capable of keeping judicial officers abreast with new developments in the specialised area of banking law.

He said: “Effective judicial system is a catalyst for financial system stability, which will in turn dovetail into economic growth. Thus, the judiciary is a critical stakeholder and a necessary partner in the enhancement of financial stability of any country.

“My Lords, distinguished participants, one of the key factors that will aid the judiciary in carrying out its assigned responsibilities and essentially ensuring financial system stability is on the need for judicial officers to embrace case management in their courts and thereby aid speedy dispensation of cases in their dockets.”