The Managing Director of Development Bank of Nigeria, DBN, Dr. Tony Okpanachi, has described as well deserved, the emergence of the bank as the highest-ranked public institution in Nigeria in the 2023 Transparency and Integrity Index (TII) by the Center for Fiscal Transparency and Integrity Watch (CeFTIW).
The index which was put together by CeFTIW in collaboration with the Bureau for Public Sector Reform, with support from the MacArthur Foundation, assessed 511 Ministries, Departments and Agencies (MDAs) and public sector institutions on their level of transparency and accountability in government processes.
To retain its first position, DBN scored 73.26 per cent, moving up from the 58.74 per cent it scored in 2022, a testament to the bank’s commitment to promoting transparency, accountability, and proactive partnerships.
Commenting on this development, Okpanachi, expressed delight at the report, regarding the ranking as a reflection of the company’s corporate governance, ethics and processes.
He stated: “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.
“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”.
Speaking at the public presentation of the transparency and integrity index, the Secretary to the Government of the Federation, Senator George Akume, represented by the Permanent Secretary, Cabinet Office, Mr. Maurice Mbaeri stressed that “proactive disclosure of information as enshrined in the Freedom of Information Act seeks to enable public institutions to adopt a proactive stance in disclosing information to the public.”
Also speaking, the Chairman, Board of Trustees, CeFTIW, Ambassador Angela Nworgu, explained that the centre introduced the Transparency and Integrity Index as an annual assessment of public institutions’ compliance with national laws and international conventions that promote transparency, and accountability and minimize corruption.