CIBN

Vice President Yemi Osinbajo, alongside other dignitaries, are expected to inaugurate the new ultra-modern Bankers House in Abuja.

Mr Nelson Olagundoye, Head, Corporate Communication and External Relations said this in a statement on Saturday in Lagos.

He said that Dr Bayo Olugbemi, President/Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN) would be the Chief Host of the occasion and would be supported by Mr Seye Awojobi, Registrar/Chief Executive.

According to him, the event is scheduled to hold March 3, in Abuja.

“The Bankers House, Abuja which is wearing a sparkling ambience is a Centre of Excellence that will house the Secretariat of Chartered Institute of Bankers of Nigeria (CIBN) in the FCT, bringing the services of the Institute closer to the people, enhancing productivity and efficiency in service delivery.

“The building will also host the permanent secretariat of the Alliance of African Institutes of Bankers (AAIOB), a body that has been in existence for about twenty-five years.

“In addition, the smart office which will be equipped with state-of-the-art ICT gadgets will also feature a Learning/Incubation hub, banking hall and a host of others,” Olagundoye said.

Other dignitaries are, Sen. Ahmed Lawan, Senate President, Rt (Hon) Femi Gbajabiamila, Speaker of the House of Representative, Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning, Central Bank Governor, Godwin Emefiele, and Mr Bello Hassan, Nigeria Deposit Insurance Corporation.

The event is expected to attract stakeholders across the various sectors of the economy including Captains of industry, Managing Director/CEO of banks, top government officials and diplomatic community, Financial Decision Makers, Top Management of banks, members of the Academia, Professional bodies, Senior Members of the Institute, Student members and well-wishers.

The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, was among those that bagged the 2021 Fellowship Investiture programme of the Chartered Institute of Bankers of Nigeria (CIBN).

At the virtual ceremony on Saturday, she said that Nigeria’s banking sector has contributed immensely to the development of the country and indeed the continent.

She, however, says there is still so much to be done.

“I’m honoured to be made a fellow of a prestigious Chartered Institute of Bankers of Nigeria.

“I want to thank the institute for the excellent work it has done to uphold the professional and ethical standards of the Nigerian Banking Industry as well as its effort to educate new generations of bankers.

“Nigeria’s banking sector has contributed immensely to the development of the country and indeed the continent; there is still so much to be done and our financial services industry including the emerging FinTech sector has a strong role to play,’’ she said.

Okonjo-Iweala said the theme chosen by CIBN for deliberation at the event, “Nigeria’s Rising Debt Profile: Issues and Implications for Sustainable Economic Development “, was an important one.

She said this was so as the institution already had the necessary professional insight on issues on debt and debt sustainability, be it at the individual, institutional or national level.

The Fiscal policy partner and Africa Tax Leader at Price Waterhouse Coopers, Mr Taiwo Oyedele, spoke on the theme at the event.

He said that Nigeria’s public debt over the past five years (2015-2020) had expanded by an average of 21.02 percent while economic growth figure averaged 0.15 per cent.

Oyedele said that revenue, on the other hand, expanded by an average of 5.19 per cent.

“By implication, the rate of expansion in public debt in Nigeria is fast outweighing the revenue mobilization capacity of the government.

“Consequently, the debt to GDP ratio expanded from 20.32 per cent in 2015 to 34.98 per cent in 2020 (IMF).

“This pace of increase in the public debt stock, particularly, raised the fiscal sustainability concerns on Nigeria,’’ he said.

The CIBN President, Dr Bayo Olugbemi, urged stakeholders in the banking and finance industry to continually support efforts and initiatives of government aimed at improving the economy toward inclusive growth and development.

He, however, urged government to do all to minimize excessive borrowing.

“I would like to propose that we continually strive to rein in our rising debt profile. Just like the Latin Americans, let us embrace import substitution models that ultimately promote home grown products and services, economic growth, and sustainable development.

“ We must also pursue the path of efficiency, ensuring that all reoccurring costs that may potentially lead to excessive borrowing are reduced to the barest minimum,’’ he said.

However, Dr kingsley Obiora, Deputy Governor, Central Bank of Nigeria, said the launch of the eNaira by President Muhammadu Buhari had positioned Nigeria as a global leader in innovation in financial and payment system landscape.

“It is not a white coincidence that the president launched the eNaira spurring a historic first and introducing Africa’s first digital currency, and that is not a mean feat because it makes and positions us again as a global leader in innovation in financial and payment system landscape.

“ I am very happy that one of us today, John Obaro, has always been a leader in payment system landscape; I believe that these core values of integrity, professionalism, innovative and ethics should also be in addition to excellence in all things we do as the core of our growth and development as a country.

“I do strongly believe that these attributes will help us to grow and get to the promised land,’’ he said.

A total of 237 individuals were conferred awards at the event: 14 Honorary Fellows, 77 Elected Fellows and 146 Honorary Senior Members.

The Chartered Institute of Bankers of Nigeria (CIBN), says it will formerly induct 609 newly-qualified Associates and 410 Microfinance bankers into the Associateship and Microfinance Certified Bankers categories of the Institute.
Mr Nelson Olagundoye, Head, Corporate Communications and External Relations of the institute, said in a statement on Wednesday in Lagos that the graduands would be inducted at its 2021 Graduates Induction and Prize Awards Day.
According to him, the ceremony, scheduled to hold on Aug. 28, would be done virtually at 11.00 a.m.
Olagundoye said certificates would be awarded to candidates who had successfully completed the various Banking Professional Examinations of the Institute in the year 2020.
Olagundoye said a lecture, titled: “Breaking New Grounds: Positioning for Global Competitiveness”, would be delivered by the Guest Speaker, Mr Niyi Yusuf, Managing Partner, Verraki Business Solution for Africa.
He said that the lecture would prepare the minds of the new professionals for the journey ahead as well as equip them with essential tips that would help them navigate the terrain as they position themselves for global competitiveness.
He said the Managing Director, Nigerian Deposit Insurance Corporation, Mr Hassan Bello, would be the Special Guest of Honour while Dr Bayo Olugbemi, President/Chairman of Council, CIBN, would Chair the occasion.
Olagundoye said the host of the occasion would be the Registrar of the Institute, Mr Seye Awojobi.
He said that the highpoint of the event would be the presentation of various Prize Awards to candidates who have distinguished themselves in the various categories of the Institute’s Examinations.
Besides, he said, the ceremony would attract eminent members of the banking community, captains of industries, corporate organizations, Fellows, Honorary Senior Members, Associates, as well as guests and friends of Inductees.

President Muhammadu Buhari, among over 10,000 other participants across the globe, are expected to participate in a hybrid Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria.
Dr Herbert Wigwe, GMD/CEO, Access Bank Plc and Chairman, Consultative Committee of the 14th Annual Banking and Finance Conference, said this at a virtual news conference on Friday in Lagos.
The theme of the Conference is: “Economic Recovery, Inclusion and Transformation; The Role of Banking and Finance.”
According to him, the conference is expected to reposition the banking and finance industry as a catalyst for economic recovery, inclusive growth and transformation.
He said the conference scheduled to hold on Sept.14 and Sept. 15, would be co-chaired by Managing Directors of Unity Bank Plc and Jaiz Bank Plc, Mrs Tomi Somefun and Mr Hassan Usman, respectively.
“This year’s event is a paradigm shift from previous conferences, with a strategy to enhance the quality of knowledge shared and full comprehension of the various topics to be discussed at the event.
“The event will be hosted as hybrid – virtually and physically. While over 10,000 participants across the globe are expected to participate virtually; there will be two physical locations for the conference.
“The locations are the Congress Hall of the Transcorp Hilton Hotel, Abuja and the Ijewere Hall of the Bankers House, Victoria Island, Lagos.
“All precautionary measures have been put in place to prevent the spread of the coronavirus at the Abuja and Lagos venues. Adequate security arrangements have also been made for all the delegates to attend physically,” Wigwe said.
He stated that President Paul Kagame of the Republic of Rwanda, would speak on the theme of the conference as the keynote speaker, to set the tone for the event.
Wigwe said Mr Godwin Emefiele, Governor of Central Bank of Nigeria, would be the chief host, while Mr Bayo Olugbemi, CIBN President, would be the host.
He said further that, “Apart from providing participants a veritable platform to connect with other professionals and industry stakeholders across the world, it promises to be intellectually stimulating.”
He said the resolutions at the event would be made available to relevant stakeholders and policy makers, to enable them re-appraise and align their operations and strategies, in line with the outcome of the conference.
According to him, the millennial, Generation Y and Generation Z, have been considered as part of the primary target group for this year’s conference.
He added that adequate provision had been made for their robust involvement and participation.
Wigwe urged participants to register for the conference through its website: http://abfconference.cibng.org/#, stressing that the event was set to make history as the largest gathering of bankers in the world.
Other dignitaries expected to grace the occasion are: Nigeria’s Vice-President, Prof. Yemi Osinbajo, Gov. Babajide Sanwo-Olu, of Lagos, Mrs Zainab Ahmed, Minister of Finance and Mr Mohammed Musa, Minister, Federal Capital Territory, among others.

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.