“DBN Tops 2023 Transparency and Integrity Index”
By Patience Ikpeme
The Development Bank of Nigeria has once again secured the top position among Nigeria’s public institutions in the 2023 Transparency and Integrity Index (TII) recently published by the Center for Fiscal Transparency and Integrity Watch.
This comprehensive index, a collaborative effort between the Center for Fiscal Transparency and Integrity Watch (CeFTIW) and the Bureau for Public Sector Reform, with generous support from the MacArthur Foundation, rigorously evaluated 511 MDAs and public sector entities regarding their transparency and accountability in government operations.
In its pursuit of transparency, accountability, and proactive collaboration, DBN achieved a score of 73.26%, a significant improvement from the 58.74% it earned in 2022. This achievement underscores the bank’s dedication to promoting these fundamental principles.
During the public unveiling of the transparency and integrity index, Senator George Akume, the Secretary to the Government of the Federation, represented by Mr. Maurice Mbaeri, the Permanent Secretary of the Cabinet Office, emphasized the importance of proactive information disclosure, as mandated by the Freedom of Information Act.
He stressed that granting access to information empowers citizens and fortifies good governance by enhancing openness and accountability.
Amb. Angela Nworgu, Chairman of the Board of Trustees at CeFTIW, shed light on the index’s purpose, explaining that it serves as an annual evaluation of public institutions’ adherence to national laws and international conventions that promote transparency, accountability, and combat corruption.
The index aims to fortify existing fiscal transparency legal frameworks, enhance institutional capacity, and educate citizens to hold the government accountable.
Dr. Tony Okpanachi, the Managing Director/CEO of the Development Bank of Nigeria, expressed delight at the report’s findings, considering the ranking a testament to the company’s commitment to ethical corporate governance and processes.
He reiterated the bank’s dedication to addressing the financial challenges faced by Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria through financing, partial credit guarantees, and technical assistance to eligible financial intermediaries.
Dr. Okpanachi further affirmed the organization’s unwavering commitment to accountability, transparency, sustainability, excellence, diversity, and innovation, all of which are deeply embedded in its corporate philosophy.
This report underscores the bank’s determination to fulfill its mandate and foster transparent and constructive relationships with its stakeholders, strategic partners, and clients.
