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Tag: CIBN

  • CIBN to admit new associates

    CIBN to admit new associates

    The Chartered Institute of Bankers of Nigeria, CIBN has concluded arrangement to admit into its fold, a new set of Associates Members (ACIB) of the Institute at an induction ceremony.

    The programme, which holds on Saturday in Lagos,  would attract distinguished members of the banking community, corporate organisations, Council Members, Fellows, Honorary Senior Members and well wishers.

    The guest speaker, Founder & Chief Executive Officer, Auldon Limited, Paul Orajiaka, will present the induction address titled Starting Up the Right Way: Attracting Investment to your Fledging Business while the Special guest of honour,  Head of Service, Lagos State, Mrs. Olabowale Ademola, will address the graduates on another relevant subject.

    Also, CIBN President, Prof. Segun Ajibola , will chair the occasion, while the Registrar/Chief Executive, ‘Seye Awojobi,  will be the chief host.

  • CIBN, stakeholders x-ray impact of Brexit on banks

    CIBN, stakeholders x-ray impact of Brexit on banks

    The Chartered Institute of Bankers of Nigeria Centre for Financial Studies (CIBNCFS), a subsidiary of The Chartered Institute of Bankers of Nigeria (CIBN) at the weekend held a breakfast session on the implications of Brexit on the Nigerian banking industry.

    Speaking during the programme, Chief Consultant Biodun Adedipe Associate Limited, Dr. Biodun Adedipe, said the United Kingdom’s (UK’s) surprise vote to leave the European Union (EU), could have negative consequences on Nigerian economy considering its strong economic ties with Britain, as a member of the British Commonwealth.

    He said the bilateral trade between Nigeria and the UK, currently valued at six billion pounds and projected to reach about 20 billion pounds by 2020 could be affected.

    He said a decelerating British economy could impact a drop in investment, trade, and also remittances from the Nigerian Diaspora who sent home over $20 billion in 2015.

    Chief Executive Officer, Proshare Nigeria Limited, Femi Awoyemi, however said that Nigerians who own property in the UK are going to find that their rental income will be lower in naira terms.

    But the representative of the deputy CBN Governor and Director Monetary Policy Department, Moses Tule, said that there is nothing to be worried about. He said that Brexit will not lead to global economic crisis, adding that financial institutions are more regulated and capitalised now than previously.

    Tule noted that crisis in UK will not affect any Nigerian banks, including lenders with subsidiaries abroad. At the event were delegates from the financial system regulatory institutions, deposit money banks, development banks, microfinance banks, insurance companies, capital market operators, academics, private business owners and other key stakeholders in the economy.

     

  • CIBN accredits FCMB’s Training Academy

    CIBN accredits FCMB’s Training Academy

    The First City Monument Bank’s Training Academy has been certified and granted full accreditation status by the Chartered Institute of Bankers of Nigeria (CIBN). This followed its compliance with best practices and other requirements set by the Institute.

    The CIBN certification came at the end of a recent evaluation exercise carried out by the Institute under the Central Bank of Nigeria (CBN) competency framework for the banking and finance industry.

    The FCMB 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. The Academy has, over the years, upgraded the quality of its offerings, which include the introduction of an industry leading e-learning platform, hiring of internal and external facilitators of high repute and provision of modern facilities.

    Speaking at the certificate presentation ceremony, the CIBN President/Chairman of Council, Otunba (Mrs.) Debola Osibogun said: “I am indeed, elated that FCMB’s learning academy has also joined the league of institutions certified to provide training services in the industry. I thank the Chief Executive Officer (CEO) of FCMB, Ladi Balogun for deeming it fit to tap into the scheme for the benefit of staff.”

    Balogun, represented by the bank’s Divisional Head, Human Resources and Change Management, Felicia Obozuwa, said the accreditation is a clear demonstration that the various strategic approaches adopted by the bank to boost its workforce’s learning and development through the Training Academy are yielding the desired results and appreciated.

  • CIBN seeks input in budget planning

    CIBN seeks input in budget planning

    President and Chairman- in- Council of the Chartered Institute of Bankers of Nigeria (CIBN) Mrs. Debola Osibogun has urged the Oyo State government to allow members have an input in the state’s budgetary planning.

    Osibogun spoke when she visited Governor Abiola Ajimobi.

    She said doing so will allow the institute contribute its quota in budgetary planning and implementation.

    The CIBN boss urged the government to consider any dedicated member of the institute to serve the state through appointment into key offices.

    She said the institute will collaborate with the University of Wales and the Chartered Institute of Scotland for its Chartered Bankers Programme.

    Osibogun, who also visited the Institute’s state branch, praised Ajimobi for his administration’s urban renewal programme, infrastructural development and peace and security in the state.

    The governor said a lot still needed to be done by the institute to assist the state and country by providing technical assistance, especially during the nation’s economic challenges.

  • CIBN, RIMAN float certification scheme

    The Chartered Institute of Bankers of Nigeria (CIBN) has entered into strategic partnership with the Risk Managers Association of Nigeria (RIMAN) to run a joint certification programme in risk management.

    The agreement, signed in Lagos, will enable both parties award certificate to qualified risk managers after undergoing requisite examinations.

    CIBN President, Mrs. ‘Debola Osibogun, said with the pact, both institutions have the authority to certify risk managers to promote efficiency and professionalism in the profession.  She expressed worry over capacity deficiency in risk management in the country, adding that the partnership would address the challenge. The executive council of both organisations has approved a robust certification document and curriculum for this professional exam, she added.

    RIMAN President, Jude Monye praised CIBN for the efficiency it has brought to the financial services sector, adding that all the needed processes has been met for full takeoff of the project. “It is good to come on board when everything is ready,” he said.

    He said the CIBN has made  arrangement and tidied up process to ensure that the exercise is a success. He said the agreement will lead to the emergence of better qualified risk managers in the country, which will also be of immense benefits to the economy.

    He said the certified risk management programme will enable RIMAN provide a credible and standard platform for certification of risk management; provide continuing professional education for risk professionals and strengthen the practice of risk management through enhanced risk knowledge and skills across the industry.

    “The exercise would help develop sound and competent risk managers who are globally competitive and nationally relevant,” he said.

    He said certification documents have been developed to include the Risk Management Certification documents and the students guide.

    He said:  “The Certified Risk Management (CRM)  document deals with the goals and objectives, training needs assessment, the structure of the programme, risk competency levels, curriculum development, affiliation, training governance and administration, funding and pricing and training universe.

    “While the programme is designed to confer identical knowledge capacity as other world class risk certification examinations, it also harmonises its scope with the Nigeria/domestic risk environment, hence creating not only certified risk managers but subject matter experts in the area of Nigeria Country Risk Management.”

  • CIBN, RIMAN, Fed Poly seal linkage programme pact

    CIBN, RIMAN, Fed Poly seal linkage programme pact

    The Charted Institute of Bankers of Nigeria (CIBN) and Risk Management Association of Nigeria (RIMAN) yesterday facilitated a linkage agreement with the Federal Polytechnic, Oko, Anambra State.

    The agreement, signed in Lagos, will enable RIMAN to train the school’s students on risk management matters.

    CIBN President, Mrs. ‘Debola Osibogun, who facilitated the agreement, explained that with the pact, RIMAN has the CIBN’s stamp of authority to train students on risk management matters.

    The CIBN boss said RIMAN has met the requirements as stipulated by the Institute’s Linkage Committee and the Central Bank of Nigeria (CBN) in compliance with the competency framework instituted by the apex bank.

    Osibogun said the pact will open more routes for intending CIBN members to come on board and write the institute’s professional examinations. She said it took over a year for the pack to be sealed.

    RIMAN President, Jude Onye praised the CIBN for the efficiency it has brought to the banking profession. He said: “It is good to come on board when everything is ready,” he said.

    Onye  said the CIBN has made all the arrangement and tidied up process to ensure that the exercise is a success. He said the agreement will lead to the emergence of better qualified graduates in the country, which will also be of immense benefits to the economy.

    He said the certified risk management programme will enable RIMAN provide a credible and standard platform for certification of risk management; provide continuing professional education for risk professionals and strengthen the practice of risk management through enhanced risk knowledge and skills across the industry.

    “The exercise would help develop sound and competent risk managers, who are globally competitive and nationally relevant,” he said.

    The management of Federal Polytechnic, Oko, Anambra State, expressed delight that the school was selected, describing the partnership as strategic. It said the programme will enhance student’s competencies in risk management.

    Central Bank of Nigeria (CBN) Director, Risk Management, Folakemi Fatugbe, said the pact was a step in the right direction, and will promote sound risk management processes in the country.

  • CIBN holds seminar on economic inclusion

    CIBN holds seminar on economic inclusion

    The Chartered Institute of Bankers of Nigeria (CIBN) has concluded arrangements to organise the third Annual Seminar on Gender Economic Inclusion to address key issues that will make them economically active and relevant in the financial services industry.

    The seminar is scheduled for Tuesday, December 1, in Lagos is part of the public enlightenment programmes organised by the institute to uplift the lives of Nigerian women in the banking and financial services industry and it is expected to attract women working in the banks and other financial institutions and those who left active service.

    Participants will brainstorm on key sub-themes such as “An overview of Gender Structure in the Nigerian Financial Services Industry”; Financial Inclusion: A Veritable Tool for Achieving Gender Equality and Women. Economic Empowerment; and “The Imperative of Change in the Financial Services Sector: X-raying the Gender Dimension.

  • Expert faults Stock Exchange on new trading platform

    Expert faults Stock Exchange on new trading platform

    A financial expert, Mr Okechukwu Unegbu, has faulted the online trading platform, `Smart Trade’, recently launched by the Nigerian Stock Exchange (NSE).

    Unegbu, a former President of Chartered Institute of Bankers of Nigeria (CIBN), spoke in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday.

    He said that the NSE should have embarked on sensitisation of investors before launching the application.

    According to him, the concept is good, but a tall order for Nigerian environment due to its peculiarity.

    Unegbu said that NSE should have embarked on nationwide sensitisation to enlighten investors before launching the online trading platform.

    “We are not in the U.S. and even, it is not everybody that can use online application to transact business,” he said.

    The expert urged the NSE to concentrate on manual trading, rather than the new platform, stressing that erratic power supply was still a major problem in Nigeria.

    He said that the exchange should also strengthen its investor education strategy to win more investors back to the market.

    According to him, the market is still battling from the loss of confidence due to the 2008 global financial meltdown.

    Unegbu advised market regulators to pursue policies that would enhance investor confidence in the market instead of concentrating on regulatory policies in the name of capitalisation and minimum operating standard.

    NAN reports that NSE, had on Nov. 18, launched the online trading platform aimed at increasing the number of retail investors to 25 million from its current five million.

    The platform was launched in conjunction with four stock broking firms of Investment One, CSL, GTI and Meristem Securities.

    The platform is to provide users with real-time market information to analyse the market trend.

  • CIBN vows to stem bank frauds

    CIBN vows to stem bank frauds

    The Chartered Institute of Bankers of Nigeria (CIBN) will not relent in its efforts to curb unethical practices in banks sector in line with its code of ethics, its P wresident, Mrs. Debola Osibogun, has said.

    Speaking at CIBN Annual General Meeting (AGM) in Lagos, Mrs. Osibogun said the institute has been making progress since the introduction of the Code of Ethics and Professionalism a year ago.

    The committee, he said, settled some cases between banks and their customers.

    She said banks’ workers have attested to the Code of Conduct, adding that forms were being processed into the institute’s database to assist in tracking cases of misconduct.

    Mrs Osibogun said: “Banks have increased their reports on employees that violate the code for investigation and discipline”.

    She promised to continue to promote professionalism, ensuring that the banking industry is rid of sharp practices.

    She implored banks to report fraudulent staff to the institute for proper interrogation and sanction.

    The institute’s account for the year ended December 2014 showed it recorded N645 million total revenues against N619 million posted in 2013, representing an increase 4.11 per cent.

    Mrs Osibogun said it recorded   a growth of 2.48 per cent from a net worth of N1.209 billion in 2013 to N1.239 billion in 2014.

    She said the institute made a surplus of N5.7million, and that the projected budget surplus of N126 million could not be realised due to a shortfall in sponsorship revenues, payment of severance package of disengaged staff and the huge cost of maintenance of Bankers House.

    “There is a slight improvement in the ratio of Internally Generated Revenue (IGR) to corporate members’ subscriptions to 80 per cent: 20 per cent, in the year under review, from 78 per cent:22 per cent recorded in 2013. Our desire to reduce dependence on corporate members’ subscriptions in the medium and long-term fund activities will continue to be pursued until it is achieved,” she noted.

  • CIBN holds AGM Saturday

    CIBN holds AGM Saturday

    The Chartered Institute of Bankers of Nigeria (CIBN) will hold its Annual General Meeting (AGM) on Saturday at Ijewere Hall, Bankers House, in Lagos.

    The body said during the meeting, issues affecting the institute and the industry, such as the yearly reports, accounts and the welfare of the members would be discussed.

    The meeting, which will be chaired by the President/Chairman of Council, Mrs ‘Debola Osibogun, is expected to be attended by chieftains of the industry, Fellows, Honourary Senior Members, Associates and past presidents of the institute.