The Chartered Institute of Bankers of Nigeria (CIBN) on Saturday held its 2020 Annual General Meeting virtual (online), where it announced the election of new officers and reviewed the 2019 financial and operational reports.
The Current President, Dr Uche Messiah Olowu, FCIB chaired the meeting with a massive attendance of all members of the Institute across the globe.
Prof. Deji Pius Olanrewaju, FCIB, National Treasurer of the Institute, gave the financial highlights of the Institute in 2019 and listed some of the following key developments; 7.1per cent increase in Net Operating Surplus of the Institute from N539million (2018) to N577million (2019), a 5.8 per cent increase in total income from 1.47 billion (2018) to N1.55 billion (2019) and 6.9 per cent increase in IGR from N1.16 billion (2018) to N1.24billion(2019).
Also, Mr Mark Ariemuduigho of Baker Tilly International Nigeria, the external auditors of the Institute gave the report for 2019 financials and stated that the financial position of the CIBN was in agreement with the book of accounts. The Chairman of the CIBN Audit Committee, Mr Babatunde Oduwaye affirmed that the accounting and reporting policies of the institute were in accordance with legal requirements and ethical practices.
Speaking further on the 2019 Operations the CIBN President, Dr Uche Olowu informed the members that the institute had made noteworthy improvement as a reference point in the country and across the globe.
Dr Olowu shared that all the CIBN subsidiaries from the Centre for Financial Studies to the Press are maintaining winning ways and will continue to experience improved performances.
In the area of capacity building, he said the Institute has reviewed the syllabus of the flagship ACIB qualification in conjunction with a top consulting firm (PwC) in a bid to keep the ACIB qualification relevant and ensure that the contents meet with global standard.
He also stressed that the electronic library which consists of electronic books, journals and other resources provide round-the-clock information and had been acquired by the CIBN Library for easy access to the doorstep of its users.
The CIBN, according to him the Past President of the Institute, Dr Olusegun Aina, FCIB, OFR has been re-elected as a Chairman of the Global Education Standard Board.
Speaking further he said the Institute has expanded its examination centres to Liberia which brings the number of foreign examination outpost to a total of five and one in Nigeria in Kastina State.
In the area of collaborations, Olowu noted that the Bankers’ Committee has approved Ethics Certification for all banks staff and currently 87,000 bank staff had registered on the e-learning platform and a sizeable number had completed the certification programme.
The CIBN according to him has continued to engage the Presidency, National Assembly, State Governments, Central Bank of Nigeria and the National Deposit Insurance Corporation to play its advocacy role in line with its mandate as the conscience of the Industry.
Members in their remarks commended Dr Uche Olowu for his 2-year leadership (2018-2020) and made suggestions on enhancement in the areas of a membership drive and others.