CIBN Concludes 2021 AGM, to Construct Lecture Halls in Tertiary Institutions across 6 Geo Zones


Tuesday, May 18, 2021 / 2:42PM / CIBN /Header Image Credit: Twitter; @cibnigeria

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The Chartered Institute of Bankers of Nigeria (CIBN) announces the approval to build a mini hall in selected linkage institutions across the six geo-political zones of the country at its 2021 Annual General Meeting (AGM) held in Lagos.


Dr. Bayo Olugbemi, President/Chairman of Council, CIBN, who made the statement at the Institute's Annual General Meeting, held live and online yesterday, said the proposed hall of 200-seating capacity will be fully furnished with air conditioning and well equipped modern multi-media communication gadgets and donated to the Banking and Finance department as a legacy project from the Institute.


Speaking further, he said that the Council has approved the development of its landed property in Owerri, Imo State, and Osogbo- Osun State to serve the south-East and South West Zones of the Institute respectively. He further said that the Institute would also be upgrading its facility in Ilorin, Kwara State, and constructing its Lagos State permanent secretariat at Murtala Muhammed Way, Yaba, Lagos.  


Mr. Oladele Alabi, FCIB, National Treasurer of the Institute, gave the financial highlights of the Institute in 2020 and ended the fiscal year with an operating surplus of N570.27 million represented a decrease of 0.6% over the N535.49million recorded in 2019. He said that the initially approved net operating surplus budget was N535.49 million but was reviewed to N316.17million and approved by the Governing Council due to the uncertainty posed by the COVID-19 pandemic.


Also, Mr. Kayode Sunmola of Moore Stephens RoseWater, the external auditors of the Institute reported for 2020 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 followed legal requirements and ethical practices.


Speaking on the 2020 Operations the CIBN President, Dr. Bayo Olugbemi encouraged the members and stakeholders to remain steadfast and not be moved by the challenges confronting the world at this time and said his steadfast and unwavering commitment to not only achieving the targets set out in his agenda but also to ensure that the Institute upholds the standards of ethics and professionalism was established by its founding fathers.


In the area of inclusion of ACIB and Banking and Finance Degrees in the government's scheme of service, he said that the Banking and Finance Degree certificates had been approved and included in Government Schemes of Service (GSS).

The approval represents a major milestone in the institute's efforts at ensuring the inclusion of the ACIB as this would equally open doors for the members who have backgrounds in banking and finance, Olugbemi said.


He said that the inclusion was announced by way of a memo dated April 12, 2021, with an effective date of Dec. 4, 2020, from the Office of the Head of Service of the Federation. "According to the communique, the National Council on Establishments (NCE) at its 42nd meeting held from Nov. 30-Dec. 4, 2020 in Ikeja, Lagos State approved the inclusion of Banking and Finance Degree Certificate in the Schemes of Service for Industrial/Investment; Procurement/Commercial Officers, and another relevant cadre.


As part of efforts to nurture talent and sharpen the skills of students under the Institute's linkage programme, he said that the Council had approved the introduction of an internship scheme to expose students to industry experience that would enhance their employability when they graduate.


He promised to intensify efforts to reach and discuss with stakeholders using best-in-class digital platforms for maximum efficiency.


Members in their remarks commended the President's leadership and growth initiatives, as well as the excellent work done in a difficult year, urging him and his team to do more.

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