CIBN Holds Maiden Virtual AGM, Elects New Officers
The Chartered Institute of Bankers of Nigeria, CIBN, on Saturday April 4th, held its 2020 Annual General Meeting, virtually during which Bayo Williams Olugbemi was elected as the 21st President/Chairman of Council of the Institute.
Olugbemi will be succeeding Dr. Uche Messiah Olowu, FCIB whose two- year tenure will be ending on May 15, 2020. The Institute also elected other new officers and reviewed the 2019 financial and operational reports.
Other elected officers are Mr. Kenneth Onyewuchi Opara, FCIB as the 1st Vice President; Prof. Pius Oladeji Olanrewaju, FCIB as the 2nd Vice President and Mr. Oladele Adebiyi Alabi, FCIB as the National Treasurer.
Also elected intoGoverning Council position are Mrs. Rafiat Oluwatoyin Onitiri, ACIB; Mr. Olayinka Alade Odutola, FCIB; Mr. Rahman Olabode Ajayi, FCIB and Dr. Godwin Ununotovo Adolor, FCIB to serve the tenure (2020-2022).
The Current President, Dr. Uche Messiah Olowu, FCIB chaired the meeting with a large online attendance by 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; 7.1 per cent increase in Net Operating Surplus of the Institute from N539 million in 2018 to N577 million in 2019, 5.8% increase in total income from N1.47 billion in 2018 to N1.55 billion in 2019.
The institute also recorded a 6.9 per cent increase in IGR from N1.16 billion in 2018 to N1.24 billion in 2019.
Also, Mr Mark Ariemuduigho of Baker Tilly International Nigeria, the external auditors of the Institute gave report for 2019 financials and stated that the financial position of the CIBN was in agreement with the book of account. 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 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 in the banking profession.
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 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 provides 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 will continue to maintain and play a frontline role at the Global Education Standards Board (GBEStB) and Alliance of African Institute of Bankers (AAIOB) where the Past President of the Institute, Dr Olusegun Aina, FCIB, OFR had been re-elected as a Chairman of the global body and the Registrar/Chief Executive, Mr. Seye Awojobi, FCIB currently serve as the Chairman of the regional body since 2018 respectively.
He also expressed that the newly acquired property by the Institute in Abuja will house the permanent Secretariat of the Alliance as part of the initiatives of the Institute towards providing leadership, mentoring and safety net at the regional level.
Speaking further he said the Institute has also expanded its examination centres to Liberia which brings the number of foreign examination outpost to a total of 5 (five) and one in Nigeria in Kastina State.
In the area of collaborations, Olowu noted that the Bankers’ Committee through its Sub-Committee on Competency and Industry Standards has approved an industry wide annual renewable mandatory Ethics Compliance Certification Programme for all employees of banks from Manager cadre downwards and currently 87,430 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.
Mr. Seye Awojobi,FCIB, Registrar/CEO of the Institute also made known in his report that in the year in review a total of 902 student members completed the Associateship Chartered Bankers (ACIB) examinations and were duly inducted as associates of the Institute. He also noted that it was a fifteen year record high for the Institute.
Members in their remarks commended Dr. Uche Olowu for his 2-year leadership (2018-2020) and made suggestions on enhancement in the areas of membership drive and others.
