The African Business Review May-Jun 2014 | Page 13

Central Bank of The Gambia (CBG) introduced risk- based
supervision. This enables the CBG to assess the risk profile of the
banks as well as the contingent liabilities they may be exposed
to. Plans are under way for The Gambia to go live on Basel
II (Oshikoya et al., 2010). Unlike banks in Europe, Ghanaian
banks do not hold derivative instruments nor are they involved
in subprime lending. This coupled with the fact that the banks
are adequately capitalized; the financial sector is quite sound and
robust. The Bank of Ghana commenced risk- based supervision
in 2007, which is a step toward full implementation of Basel II .

Oshikoya et al. (2010) pointed out that in the aspect of
supervision in Nigeria, the role of quality data is emphasized and
the country operates on an Electronic Financial Analysis and
Surveillance System (e-FASS) – a web-enabled analytical tool
for the supervision of banks. The e-FASS, which was designed
to enhance efficient on-line surveillance of financial institutions,
was upgraded to further improve its performance for on-line
submission of statutory returns and to capture the requirement
for Risk