The Chartered Institute of Bankers of Nigeria (CIBN) said that two of its certificates had been approved and included in Government Schemes of Service.
These are the Associates of the Chartered Institute of Bankers (ACIB) and the Banking and Finance Degree certificates.
Dr Bayo Olugbemi, President/Chairman of CIBN, made the disclosure at the institute’s Annual General Meeting, held live and online, in Lagos.
He said the approval was done by the Office of the Head of Service of the Federation.
Olugbemi said that the approval represented a major milestone in the institute’s efforts at ensuring the inclusion of the ACIB, and would open doors for members with banking and finance background.
He said that the inclusion was announced via a memo dated April 12, 2021 with an effective date of Dec. 4, 2021, from the Office of the Head of Service of the Federation.
ACIB is the qualification awarded by the Institute on the successful completion of its prescribed course of study.
“According to the communique, the National Council on Establshments (NCE) at its 42nd meeting held from Nov. 30-Dec. 4, 2020 in Ikeja, Lagos State approved the inclusion of Banking and Finance Degree Certificate in the Schemes of Service for Industrial/Investment; Procurement/Commercial Officers and other relevant cadre.
“The approval represents a major milestone in the institute’s efforts at ensuring the inclusion of the ACIB as this would equally open doors for the members who have their background in banking and finance.
“I wish to equally note that the cadres suggested by the Institute was fully adopted from the Banking and Finance degree,” Olugbemi said.
On the 2020 operations, Olugbemi informed members that his five strategic areas of focus (A-Team), which encapsulated his vision for the Institute, had made modest achievements despite uncertainties caused by COVID-19 pandemic.
In the area of accelerated development, Olugbemi told members that necessary attention was given to the issue of leadership of branches at both local and international levels.
This, he said, was in order to ensure that the branches were strong, vibrant, agile and able to deliver on their mandates.
He said that the Institute had adopted the implementation of Remote Online Proctoring Examination.
Olugbemi also promised to intensify efforts to reach and engage stakeholders using best-in-class digital platforms for maximum efficiency, among other achievements.
Mr Dele Alabi, the National Treasurer of the Institute, gave the financial highlights in 2020, saying the Institute ended the fiscal year with an operating surplus of N570.27 million before impairment and amortization.
He said that the consolidation net operating surplus for the period ended Dec. 31, 2020, showed a slight decrease when compared to the previous year.
“The actual net operating surplus of N570.27million represented a decrease of 0.6% over the 573.71 million recorded in 2019.
“The Institute’s net assets amounted to N5.12bn as at December 31, 2020, resulting in an increase from the prior year figure by N0.48bn,” Alabi said.
Mr Kayode Sunmola, Engagement Partner representing Moore Stephens Rosewater, gave the Independent Auditors report for the 2020 financials at the event.
Members, in their remarks, commended the CIBN president’s leadership and the growth, as well as excellent work done in a difficult and challenging year, urging him and his team to do more.
Besides, members unanimously reappointed Sunmola as the Institute’s External Auditor for 2021 accounting year.
