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Tag: CIBN

  • Onasanya, Rewane to speak at CIBN’s dinner

    Onasanya, Rewane to speak at CIBN’s dinner

    The Group Managing Director, First Bank of Nigeria Plc, Mr Olabisi Onasanya, pioneer Managing Director Guaranty Trust Bank Plc, Mr. Fola Adeola and the Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane are expected to deliver papers at the 2013 Chartered Institute of Bankers of Nigeria (CIBN)’s Lagos Bankers forum in Lagos.

    Tagged: ‘Positioning Nigerian Banks for Global Competitiveness,’ the event is expected to attract participants drawn from the banking sub-sector.

    In a statement issued on behalf of the institute Mr Bolade Agboola, chairman, CIBN Lagos chapter, he said the 2013 edition of the Lagos Bankers forum will be an avenue for the cross fertilisation of ideas on how to take the banks to the next frontier of national development and global competitiveness.

    “With the conclusion of the banking reforms which has strengthened ownership, management, operational and regulatory frameworks of our banks there is no gainsaying the fact that Nigerian banks are ready to take their positions on the global scene and national development,” observed Agboola.

    Expatiating, Agboola said the event is going to historical because it coincides with the 50th anniversary of the banking practice in the country.

  • CIBN boss restates commitment to banking

    CIBN boss restates commitment to banking

    In a bid to bridge the gaps in the banking and finance industry, the Chartered Institute of Bankers of Nigeria has concluded arrangements to collaborate with FITC with a view to improve the competency level in the financial sector in Nigeria. This is coming on the heels of the stakeholders’ engagement with the company at its Corporate Headquarters led by Mr. Segun Aina, President/Chairman of Council.

    Aina noted that the engagement was part of familiarization and bridge-building efforts to dialogue with major stakeholders in the banking and finance industry. He observed that the industry was so large and replete with many value adding opportunities and there was room to make an impact without any hindrance. He called for collaboration and cooperation between CIBN and FITC in areas of common goals and interest.

    An elated Dr. Lucy Newman, Managing Director/Chief Executive, FITC, thanked the institute’s proposal on research saying that it required huge amount of resources and time.

  • ‘CIBN certified bankers can work in Africa’

    The Chartered Institute of Bankers of Nigeria (CIBN) has said certified bankers in the country are qualified to work in other African countries.

    The institute said in a statement that a communique issued at the end of its Annual General Meeting called for an inter-country recognition and acceptance of qualifications and certificates of member countries.

    This, it said, would encourage and promote mobility of labour as well as skills among banks in the continent.

    It further said the alliance would periodically conduct professional examination moderation to strengthen exam policies, regulations, curricula and practices with a view to ensuring that quality standards and improvement in candidates’ performance are maintained and adhered to, at all times.

    According to the alliance, “a smooth implementation of the Staff exchange programme (SEP), which is aimed at, among other things, to enhance cross fertilisation of skills, bonding, mentoring among member Institutes’ personnel would be vigorously pursued”.

    It stressed the need for the AAIOB member-institutions to participate actively in the establishment, programmes and activities of the Global Banking Education Standards Board (GBEStB), which is expected to be launched at the World Conference of Banking Institutes (WCBI) scheduled to hold in Nairobi, Kenya this month.

  • CIBN reassures on manpower development

    The Chartered Institute of Bankers of Nigeria (CIBN) has reaffirmed its commitment to the development of manpower for the banking sector.

    President/Chairman of Council of the Institute, Segun Aina disclosed this during his address at the World Press conference to flag off activities marking the institute’s 50th Anniversary in Lagos.

    He noted that the institute has continued to fulfill the mandate for the promotion of practice of the banking profession in the country.

    Aina said that CIBN would continue to make strategic effort to support banking sector, regulatory authorities and stakeholders as they pursue reforms in the midst of constant changes in the global financial landscape.

    He stated that the Federal Government, state governments, National Assembly and other regulatory bodies rely on the institute for input into fiscal and monetary policies and related matters, adding that it had at various periods been called upon to serve in special committees of the government on financial matters such as Committees on Drugs and Other Financial Crimes; Nigeria Accounting Standards Board (now Financial Reporting Council of Nigeria); Money Laundering Committee; FSS 2020; National Productivity Board among others.

    On ethics and professionalism, Aina said that the institute serves as the Secretariat of Sub-Committees of the Bankers’ Committee, which has helped to reduce cases involving banks and their customers in the courts thereby promoting mutually beneficial relationship between both parties. “Since the establishment of the Sub-Committee in 2001, a total of 1,419 cases had been received out of which, 1,277 were amicably resolved, giving a success rate of about 90 per cent,” he said.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • CIBN partners Moody’s Investor

    The Chartered Institute of Bankers of Nigeria (CIBN) is partnering with Moody’s Investor, Institute of Financial Services (IFS) and Centre of Study of Financial Innovation (CSFI). The deal, it said, in a statement, will increase its global recognition.

    CIBN Chairman, Segun Aina, said the institute is considering working with CSFI in syndication of articles and joint authorship with Nigerian-based authors, among others.

    He said the institute was willing and ready to collaborate with Moody’s Investor on some critical areas of mutual interest to both organisations.

    Aina maintained that the institute would follow up on the UK-based organisations until the collaboration was consummated.

     

  • No shortage of exam resources, says CIBN

    No shortage of exam resources, says CIBN

    The Chartered Institute of Bankers of Nigeria (CIBN) has refuted the claims that it does not have enough resources to conduct examination for current and prospective bankers in the country.

    The refutal is coming amid allegations that the body cannot conduct examination for its students, because of lack of resources.

    The immediate past Chairman, CIBN, Lagos Chapter, Mr Bayo Olugbemi, said the body had started conducting examination for students in The Gambia to improve banking practice in the country.

    He said the institute would soon open a branch in Ghana, as part of efforts to make banking more professional in the region and Africa in particular.

    He said: “If it is training, it is easier for CIBN to do. We just finished our examination last week. We are the current President of the African Association of Institute of Bankers. This has given us the opportunities to conduct examinations in different countries and help in making the industry better and stronger.”

    He said Nigerians were once certified by London Institute of Bankers, noting that one cannot become a banker unless he/she was trained by the institute.

    “What the London Institute of Bankers was to Nigeria before, is what we are trying to be to other countries in Africa. We want to help in improving the practice of banking in other countries. To achieve this objective, we register their bankers,” he added.

    Olugbemi, also the Managing Director, First Registrar, said efforts are being made to make banking a highly professional job in the country. He said various courses have been introduced to enable students to choose from and further improve themselves.

    Also, the Chairman, CIBN Lagos state branch, Mr Bolade Agboola, said everything humanly possible is being done to rid fake or non-charlants out of the industry.

    He said efforts are being made to ensure that bankers have knowledge of critical components of banking in Nigeria.

    Agboola said risk management is vital to the growth of banking industry, arguing that bankers that are bereft of risk management skills are going to perform badly.

    He urged Nigerians to take advantage of courses handled by the institute, adding that they can only practice well when they have the prerequisite skills.

    According to him, banking has entered a new dispensation globally where only the ‘fit and good personnel can cope with the pressure in the industry.

  • CIBN partners national open university to improve services

    CIBN partners national open university to improve services

    The Chartered Institute of Bankers of Nigeria has expressed the desire to partner with the National Open University of Nigeria (NOUN) in key areas with a view to ensuring that the Institute renders world class services to its members wherever they may be located. Mr. Segun Aina, president/chairman of council of the institute, gave this indication during a stakeholders’ engagement with the National Open University of Nigeria, in Victoria Island, Lagos recently.

    Aina who led the CIBN delegation to NOUN stated that the institute was ready to partner with the institution on joint certification programme as well as collaborate with it to set up its B.Sc. degree in Banking and Finance programme.

    NOUN and CIBN are also expected to collaborate on e-Learning project, CIBN International Centre for Financial Studies, among other vital academic and professional areas that would further enhance the profiles of the two institutions while adding values to their members and other stakeholders. “The challenges in the global financial sector necessitated the need for the CIBN to professionalise banking”, said Mr. Aina. In his response, Prof. Vincent Ado Tenebe, vice-chancellor, National Open University of Nigeria, who was visibly excited, expressed satisfaction over the proposed partnership and collaboration with CIBN.

  • Bankers blame fraud on non-professionals

    Bankers have identified the factor responsible for fraud in their industry.

    According to them, fraud persists because of non-professionals accupying sensitive positions.

    A member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN), Deji Olanrewaju, said the dearth of professionals “is a major factor for lapses in the sector.”

    He said: “It is instructive to note that when we are talking about professional bankers, we are not many in this country. No fewer than 4,500 are professionally qualified as core bankers in this country. So, if you are talking about professionalism in the banking industry, which has been our focal point. These problems arose as a result of people who are not professionals occupying sensitive positions.

    He added: “There are certain key areas that should not be handled by non-professionals. But unfortunately, over the years, just miniatures of people that have been working in the banking industry are professionals. That is why we are making concerted efforts now to make sure that our rules are amended so that unless you are a chartered member of this institute, you cannot even work in a bank.”

    Olarenwaju said due to lack of professionals, some workers are unknowingly creating rooms for fraud. This, he said, is evident by the ways and manners they gather information on transactions conducted in their branches.

    Immediate past Chairman CIBN, Lagos Chapter, Mr Bayo Olugbemi said when sensitive positions such as audit and risk management are occupied by unqualified personal, the tendency to commit fraud is high.

    Olugbemi said risk management is crucial to the growth of the industry, stressing that there is a mismatch of activities when half baked personnel are employed.

    He said the highest number of fraudlent practices in the industry are attributed to poor workforce, advising the banks to employ only competent hands to foster growth.

  • CIBN to organise risk management confab

    CIBN to organise risk management confab

    The Chartered Institute of Bankers of Nigeria (CIBN), Lagos chapter is organising a risk management conference for regulators and operators in the financial services industry. The conference is billed for Dubai, United Arab Emirates between February 17 and 20.

    In a statement, the body said there will be a strategic session for senior management staff of the Central Bank of Nigeria (CBN), Nigerian Deposit Insurance Corporation (NDIC), Money Deposit Banks, Discount Houses, Mortgage Banks, Microfinance Banks, among others.

    The statement reads: “The event would serve as a training and strategic session for evolving best practices for the implementation of BASEL 11 and 111 in Nigeria. Bank of International Settlement (BASEL) had been developing new rules and practices to forestall re-occurrence of the global financial crisis that had put the world economies in prostrate since 2007. We are all living witness of how bad an economy could go, notwithstanding the so-called blessings of oil windfall revenue in the world.”

    According to CIBN, participants would leverage on the forum to bring about desired growth to their employers.

     

  • CIBN gets panel to amend law for watchdog role

    The Chartered Institute of Bankers of Nigeria (CIBN) has raised a committee to amend its Act to enable it to perform certain functions.

    The amendment may not be unconnected with the House of Representatives plan to cede the banking supervisory power of the Central Bank of Nigeria (CBN), to the Institute. The Committee, The Nation learnt, is considering the inclusion of a section on privileges to empower its members.

    The CIBN Act 2007 was enacted by the National Assembly. The law stipulates that no person shall be entitled to be employed as head of any of the technical departments of a bank unless he is duly registered as a member of the Institute.

    The Act also states that the Governing Council shall consist of a Chairman, who shall be the President of the Institute; two Vice-Chairmen; National Treasurer; CBN governor or his representative; managing director of the Nigeria Deposit Insurance Corporation (NDIC) or his representative; six managing directors/chief executive of banks to be appointed by the Council and six persons elected by the Institute.

    Others are two past presidents of the institute; a representative each of the Ministries of Finance; Education; and Mortgage/Micro Finance Banking Institutions (alternates) among others. There is also a representative each of the National Universities Commission (NUC) and the National Board for Technical Education (NBTE).

    The Chairman, wHouse of Representatives Committee on Banking and Currency, Mr. Jones Onyereri told The Nation on phone that there is need to strengthen the CIBN to play more roles in the financial services sector.

    He said: “With the kind of challenges we have, the time has come that we should separate that function from CBN. Make an independent one; probably the Financial Supervisory Committee, to deal with issues of bank supervision.We need to hear from CIBN and then take it from there.”

    The legislator said it would be an integral focus of the House to ensure that it separates banking supervision function from CBN this year. “The core function of the CBN is really on the monetary policy matter and we would want the bank to intensify its efforts in that area when we separate the banking supervision role from the bank,” Onyereri said.

    He urged CIBN to rise to the challenge of contributing to monetary policy issues.

    CBN Director of Communication, Ugochukwu Okoroafor, said the apex bank was a waiting details of the members’ plan.

    Banking Supervision is being handled by a special unit in the CBN headed by a Director.

    There is a bill before the House, seeking to amend the CBN Act 2007 by transferring the power of its board to approve its budget to the National Assembly. The bill also proposes to reduce the banks’ membership from 12 to seven and to appoint another person, other than the CBN governor, as the chairman of the board.