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Tag: CIBN

  • CIBN holds AGM, elects new executives

    The Chartered Institute of Bankers of Nigeria (CIBN) is set to hold its Annual General Meeting (AGM) and election into its Governing Council.

    The AGM and election scheduled for Saturday, will hold at the Bankers House, Victoria Island, Lagos, between 10 am and 12 noon.

    President/Chairman of Council of the institute, Prof. Segun Ajibola, will chair the meeting.

    The institute has reviewed its electoral system by leveraging information technology, thus optimising the process and giving its targeted audience access to a transparent, accessible and cost effective electoral process for a democratic selection of its leaders.

    Electronic voting has been considered to be an efficient and cost effective alternative to the current classic voting procedure which is expected to attract specific group of people, like young electors/voters to participate in the election.

    The proposed solution also aims at eradicating challenges and providing a complete solution with adequate level of security, anonymity, authentication, data security, tractability among others.

    In line with the Institute’s tradition, chairmen and chief executives of banks, presidents of the institute, presidents of other professional bodies, top government functionaries, Fellows, Honorary Senior Members, Associates and other stakeholders have been invited to attend the meeting and exercise their franchise to vote.

    The meeting will also consider the Annual Reports and Accounts of 2017 operational performance of the Institute and other important matters affecting the industry and the welfare of members.

     

  • CIBN begins Computer-Based Testing for students

    CIBN begins Computer-Based Testing for students

    THe Chartered Institute of Bankers Professional Examinations has upgraded from traditional paper-based to Computer Based Testing (CBT) platform for its students.

    In a statement, the Chartered Institute of Bankers of Nigeria (CIBN) said the pilot phase of the CBT, which takes effect from April 2018, was carried out in October 2017 with the Certified Risk Managers (CRM) Certification Examinations in Lagos and Abuja centres.

    The Institute said the exercise was adjudged successful as the students described the platform as simple, easy to learn and user-friendly.   “Students are assured that the transition to CBT platform will not affect their mode of study as they are expected to use the same materials to prepare for the examinations as they currently do. The only difference would be that the structure of questions would change to Multiple Choice Questions (MCQ) and Short Answer Questions (SAQ),” the Institute said.

    It said that courses like the International Trade & Finance, Banking Law, Ethics & Corporate Governance, Bank Lending & Credit Administration and Practice of Banking would have the hybrid of theory of MCQs and SAQs.

    It stated that an online tutorial platform for practice questions would be made available in advance of the real examinations to enable students to practice and get acquainted with the application to aid their preparation.

    Meanwhile, the examination has been scheduled to hold from Tuesday, April 10 to Thursday, April 12, 2018 in 29 locations across the country and in areas where examinations are conducted. The Institute said specific test centers would be communicated to the students in due course even as registration for the examinations would be done online and manual.

  • CIBN inuagurates centre

    CIBN inuagurates centre

    The Chartered Institute of Bankers of Nigeria (CIBN) has unveiled Learning Centre and Library in Lagos.

    Speaking at the event, CIBN President/Chairman of Council, Segun Ajibola, said the inuaguration of the centre and unveiling of the Alhaji A.O.G Otiti Library, were the institute’s positive contribution to the economy.

    The objective of establishing the centre, he said, is to cater for the knowledge quest of bank professionals and practitioners in other allied sectors.

    “It is indeed, heartwarming for me to witness this occasion and I believe that the early set of professional bankers in the country here present would have fond memories of this legacy building, which served as the “melting pot” for them during their journeys towards becoming professional bankers,” he said.

    “With its present Headquarters at PC 19, Adeola Hopewell Street, Victoria Island, Lagos, the chequered history of CIBN would be incomplete without a special reference to the hallowed land on which we all presently stand. It may interest this distinguished audience that this remodeled building served as the first National Secretariat of CIBN and was opened in 1973 by the then Federal Commissioner for Finance, Alhaji Usman Shehu Shagari,” he added.

    He continued: “At the CIBN, we are fully aware of the imperative of leveraging technology to meet the capacity building needs of professionals in a knowledge economy. The structure, on the first floor houses three ultra-modern facilities that can be used for various kinds of trainings, which will be furnished with the latest technology in training that would make training to be rewarding.  On the upper floor, a pent floor, is a multipurpose hall that can be used as a training room, a mini-event hall or cafeteria.

  • CIBN chief advises banks on credit, liquidity management

    Commercial banks are expected to strike a balance between sound liquidity management and profitability, CIBN President/Chairman of Council, Prof. Segun Ajibola has said.

    Speaking at the third inaugural lecture of Caleb University, Imota, Ikorodu, Lagos State, he said so many things compete for funds in the hands of lenders.

    Ajibola said banks credits cause illiquidity in the system but remain the most profitable assets of for every lender.

    He listed the two pillars of financial intermediation as deposit mobilised from the surplus funds unit and loaned to the deficit funds unit in the economy.

    Ajibola, who spoke on the theme:  Rhythms and Riddles of Bank Credit: Synergies and Dislocations in Nigeria’s Economic Growth highlighted the criticisms and concerns facing the banking industry.

    He also noted that banks as financial intermediaries channel depositors’ funds to the deficit units to finance economic activities in the various sectors of the economy. “When discharging this function through credit allocation, banks’ decisions are often determined by the quality of collateral, political pressures, personality, loan size and covert benefits to loan officers influence,” he said.

    He said that for credit to have the desired impact on economic growth, it is important to have in place credit policies that could see to the direct punishment of credit abusers (customers or insiders), rather than the current practice of declaring such loans and advances as bad debts.

    He revealed that the impact and timing of credit on sub-sectoral growth, especially for agriculture and manufacturing, differ. “While the previous year’s loans and advances to agricultural sub-sector had a positive effect on economic growth, the current year’s loans and advances to the same sector had a negative impact. For the manufacturing sub-sector, current year’s credit facilities impacted positively on economic growth compared with those of the previous year,” he said.

    Professor Ajibola encourage banks to remain ethical and professional in the conduct of their lending business and continue to engage staffers of right skills and competencies in lending while devoting more attention to capacity building in the relevant areas.

    He also recommended that specialized financial institutions such as Bank of Agriculture, Bank of Industry, Nigeria Export-Import Bank and the new National Development Bank should stick faithfully to their mandates of lending to specific segments of the economy.

  • PHOTO: CIBN accredits Keystone Bank Training Academy

    PHOTO: CIBN accredits Keystone Bank Training Academy

    PHOTO: CIBN accredits Keystone Bank Training Academy

  • 119 bankers, others elected CIBN fellows

    119 bankers, others elected CIBN fellows

    The Chartered Institute of Bankers of Nigeria (CIBN) has elected 119 bankers, academics, consultants, civil servants among others, as Fellows of the Institute.

    Speaking during the 2017 Feloowship Investiture of the Institute in Lagos, CIBN President/Chairman of Council, Segun Ajibola, described the awardees as seasoned individuals, who have passed through the Institute’s prescribed examinations and have been tested for years in their various capacities to make them deserving of election into the Fellowship status of ‘our great Institute’.

    He said a total of 62 top executives in the banking industry, other financial institutions and the academics were also awarded Honorary Senior Members of CIBN (HCIB).

    “I must at this point commend the Institute’s Board of Fellows ably led by the first Vice President, Uche Olowu, for a job well done aimed at ensuring that only professionals, who have demonstrated integrity and character in their various vocational callings are elected into this cadre of the Institute,” Ajibola said.

    Continuing, he said: “I am particularly delighted this morning to have in our midst Amine Mati, Senior Resident Representative & Mission Chief for Nigeria, African Department, International Monetary Fund (IMF) as the guest speaker on the very topical theme of this year’s Investiture – Coherent Set of Policies for Greater Exchange Rate Flexibility”.

    Ajibola said while Nigeria as a country has experimented with different exchange rate regimes, opinions are still polarised among economic experts on the best policy option in the management of the country’s foreign exchange.

    “Principally, there are two extremes of exchange rate regimes – fixed and floating – with different shades of combination. The choice of exchange rate regime depends on a country’s level of development and the policies governing the monetary and financial fundamentals of such economy. Most developing economies tend to adopt fixed exchange rate regimes in order to build confidence in their economic policies whereas the more advanced ones lean towards a flexible regime as they become more active in international financial markets,”he said..

  • CBN Deputy Governor, bank CEOs for CIBN Fellowship

    The Central Bank of Nigeria (CBN) Deputy Governor, Joseph Nnanna and over 50 Chief Executive Officers, Executive Directors and top Management staff of banks as well as Academics will formally be conferred with the Fellowship and Honorary Senior Membership of the Chartered Institute of Bankers of Nigeria in Lagos on Saturday.

    Out of the 192 awardees to be honored at Harbour Point event centre, 12 would be Honorary Fellows, 119 Associates would become Fellows while 61 would be honoured with the Honorary Senior Membership of the Institute, which is in recognition of the awardees’ services, commitment and contributions to the industry in particular and the nation’s economy in general.

    The Honorary Awardees include Executive Governor, Central Bank of Liberia, Milton Alvin Weeks; Managing Director/Chief Executive of Fidelity Bank Plc,NnamdiOkonkwo;  Managing Director/Chief Executive, Infrastructure Bank Plc,KunleOyinloye; Managing Director/Chief Executive Citibank Nigeria Ltd, Akin Dawodu; Managing Director/CEO, Diamond Bank Plc, UzomaDozie. Others are former Managing Director/Chief Executive, Keystone Bank Ltd, Philip Ikeazor; Managing Director/Chief Executive, FirstBank of Nigeria Ltd, Adesola Adedutan; Managing Director/Chief Executive, FBN Merchant Bank Ltd, Olukayode  Akinkugbe and Managing Director/Chief Executive, Eco Bank Nigeria Ltd, Charles Kie.

    The event will have Mr. Amine Mati as the guest speake, while Prof Segun Ajibola,  president/chairman of Council, CIBN, will be the chief host.

  • Keystone Bank’s training academy gets CIBN accreditation

    Keystone Bank’s training academy gets CIBN accreditation

    The Chartered Institute of Bankers of Nigeria (CIBN) has certified and granted full accreditation status to the Keystone Bank Limited Training Academy in Lagos, in recognition of its compliance with regulatory standards and best practices.

    The certification came at the end of a recent evaluation exercise carried out by the CIBN which is the sole accreditation agency under the Competency Framework for the country’s Banking and Finance Industry put in place by the Central Bank of Nigeria.

    The Keystone Bank Training Academy is a full-fledged learning and development centre responsible for the continuous building of skills and the expansion of knowledge base of new and existing workers of the bank.

    In the letter communicating the development, the institute commended the bank for its consistent efforts towards meeting high standards for the benefit of the banking industry and larger economy.

    Part of the accreditation is the exemption of trainees who are successful at the Keystone Bank Entry Level from nine courses from a total of nineteen in the Chartered Institute of Bankers of Nigeria Professional Certification examination.

    Commenting on the award, the Group Managing Director/CEO of Keystone Bank Limited, Mr. Obeahon Ohiwerei said, “We believe strongly in the need for continuous learning and self-improvement.

    Providing top-notch training is one way we groom and build our people to be more competent and vibrant, thereby launching the Bank to ground breaking achievements and performance overtime.”

    “This of course will produce leading professional bankers who will lead not just the industry but the economy at large.”
    Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

  • CIBN plans forum on Collateral Registry Act

    CIBN plans forum on Collateral Registry Act

    The Chartered Institute of Bankers of Nigeria Centre for Financial Studies (CIBNCFS), a subsidiary of The Chartered Institute of Bankers of Nigeria (CIBN), has concluded plans to organize a breakfast session on Collateral Registry Act: Pros and Cons for the Nigerian Banking Industry and Other Stakeholders.

    The programme planned for Thursday, September 28, at the Bankers House, PC 19, Adeola Hopewell Street, Victoria Island, Lagos.

    Due to the imperative of addressing the financing gap in Nigeria’s Micro, Small and Medium Enterprises (MSMEs) Sector, the National Assembly and the House of Representatives passed into law the Secured Transactions in Movable Assets Act, 2017 (otherwise known as the Collateral Registry Act) in May, 2017. The Act, already signed by the executive, is designed to afford MSMEs the opportunity of acquiring loans using movable assets as collateral from financial institutions.

    While this is indeed a welcome development, apprehensions among stakeholders are rife regarding the implications of this Act on the current high level of Non-Performing Loans (NPLs) in the industry amongst all other risks financial institutions are exposed to in the country.

  • CIBN, stakeholders seek national integration

    CIBN, stakeholders seek national integration

    The Chartered Institute of Bankers of Nigeria (CIBN) has said national integration remains key tool for economic policy, processes and national development.

    President of the institute, Prof. Segun Ajibola, who spoke at the 2017 CIBN yearly lecture in Lagos explained that national integration and successful planning and implementation are in inseparable.

    “Indeed it will be wrong to assume that any economic policy will succeed without the awareness of a common identity among the citizens, while respecting their ethnic, cultural, religious and social affiliations. Nigeria has been estimated to have over 250 ethnic groups each with its own expectations and desires from the national government. I wish to therefore state that national integration is predicated on the mobilisation of the citizenship just as it is enhanced through appropriate economic policies,” he stated.

    Earlier, the President of the Nigeria Stock Exchange (NSE), Aigboje Aig-Imoukhuede, who is also the Chairman of the event, noted that ‘citizenship is key to national integration.

    “There is no more powerful instrument than economic policy to address the issue of integration and citizenship. When you formulate economic policy by recognising this principle, you create an environment where people are compelled to identify with,” he said.

    The guest Speaker, who is also a Professor of Economics and Director, Institute for Developmental Studies, University of Nigeria Nsukka, Osita Ogbu, said that “it is clear that nations rise and fall not because of oil or other sub-soil assets, but because they have leaders who deliberately constructed acceptance or legitimation of the nation state in the minds of its citizens as diverse as they may be.