.CIBN Inducts 1,270 Professionals
AT the Chartered Institute of Bankers of Nigeria’s (CIBN) annual induction and prize awards ceremony, former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Sarah Alade, urged banks to prioritize innovation, emphasizing its critical role in driving growth and competitiveness in the sector.
The event marked a significant milestone, as 1,270 new professionals were inducted into the CIBN across various categories, reinforcing the institute’s commitment to strengthening professionalism in the banking sector.
In her keynote address, Dr. Alade framed the induction as the start of an elevated professional journey, challenging attendees to evolve from practitioners to transformative leaders.
“This ceremony opens doors to greater responsibilities. Will you settle for routine banking or redefine industry standards?” she posed to the inductees.
The banking veteran traced Nigeria’s financial sector evolution from its fragmented state in the early 2000s to its current position as a continental leader, crediting reforms like Basel compliance and digital transformation. However, she identified persistent challenges including Nigeria’s 21 percent credit-to-GDP ratio (versus 70 percent in South Africa), urging banks to expand lending to priority sectors through innovative risk frameworks.
Dr. Alade outlined four strategic imperatives: Accelerate integration of AI, blockchain and fintech partnerships; Mainstream ESG principles in lending decisions; Combat rising digital fraud (N9.5bn losses in 2023); Strengthen regulator-industry coordination.
CIBN President Prof. Pius Olanrewaju reinforced these themes, highlighting data that shows digitally progressive banks achieve 3.5 times higher revenue growth. He referenced the Edelman Trust Barometer’s finding that ethical institutions command 26 percent greater customer confidence.
The induction cohort comprised: 803 Regular Chartered Bankers; 383 MCIB members; 53 SMP/AMP professionals; 27 MSc pathway members; 4 Chartered Banker/MBA candidates Including international inductees from Sierra Leone, The Gambia, Kenya, Cameroon, Rwanda and Ghana.
Professor Olanrewaju concluded by urging members to operationalise the CIBN’s Legacy Agenda, emphasising that “Nigeria’s banking future will be written by those who combine technical excellence with a transformative vision.”
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