CIBN Elects Mr Bayo Olugbemi as its New President Holds First Ever Virtual AGM


The Chartered Institute of Bankers In Nigeria, CIBN held its first ever virtual Annual General Meeting (AGM) where it reviewed the 2019 financial year and activities, and elected Mr. Bayo Olugbemi, FCIB, as the 21st President.


The meeting was chaired by the current and 20th President of CIBN Dr. Uche Messiah Olowu, FCIB chaired the meeting with a large online attendance by members of the Institute across the globe.


Speaking on the 2019 Operations of the Institue, Dr. Uche Olowu, informed members that the Institute had made noteworthy improvement as a reference point in the country and across the globe in the banking profession.


Dr. Olowu said that all the CIBN subsidiaries from the Centre for Financial Studies to the Press have maintained success and would continue to experience improved performances.


In the area of capacity building, he said the Institute has reviewed the syllabus of flagship ACIB qualification in conjunction with a top consulting firm (PwC) in a bid to keep the ACIB qualification relevant and ensure that the contents meet with global standard.

Additionally, he further stressed that the electronic library which consists of electronic books, journals and other resources provides round-the-clock information and had been acquired by the CIBN Library for easy access to the doorstep of its users.


Looking at the area of collaborations, Olowu noted that the Bankers’ Committee has approved Ethics Certification for all banks staff and currently 87,000 bank staff had registered on the e-learning platform and a sizeable number had completed the certification programme.


The CIBN according to him has continued to engage the Presidency, National Assembly, State Governments, Central Bank of Nigeria and the National Deposit Insurance Corporation to play its advocacy role in line with its mandate as the conscience of the Industry.


Members in their remarks commended Dr. Uche Olowu for his 2-year leadership (2020-2022) and made suggestions on enhancement in the areas of membership drive and others.


Prof. Deji Pius Olanrewaju, FCIB, National Treasurer of the Institute, gave the financial highlights of the Institute in 2019 and listed some of the following key developments; 7.1% increase in Net Operating Surplus of the Institute from N539million (2018) to N577million(2019), 5.8% increase in total income from 1.47 billion (2018) to N1.55 billion (2019) and 6.9% increase in IGR from N1.16 billion (2018) to N1.24billion(2019).


Speaking also, Mr Mark Ariemuduigho of Baker Tilly International Nigeria, the external auditors of the Institute gave report for 2019 financials and stated that the financial position of the CIBN was in agreement with the book of accounts.


The Chairman of the CIBN Audit Committee, Mr Babatunde Oduwaye affirmed that the accounting and reporting policies of the institute were in accordance with legal requirements and ethical practices.


According to , Dr Olusegun Aina, FCIB, OFR has been re-elected as a Chairman of the Global Education Standard Board.


Speaking further he said the Institute has expanded its examination centres to Liberia which brings the number of foreign examination outpost to a total of 5 (five) and one in Nigeria in Kastina State.


In summary of  the 2020 AGM was the announcement of Mr. Bayo Olugbemi as the 21th elected President of the institute alongside other elected officers who are Mr. Opara, Kenneth Onyewuchi, FCIB as the 1st Vice President, Prof. Olanrewaju, Pius Oladeji, FCIB as the 2nd Vice President and Mr. Alabi, Oladele Adebiyi, FCIB as the National Treasurer. Other elected positions in the Governing Council are Mrs. Onitiri , Rafiat Oluwatoyin, ACIB; Mr. Odutola, Olayinka Alade, FCIB; Mr. Ajayi, Rahman Olabode, FCIB and Dr. Adolor, Godwin Ununotovo, FCIB to serve the tenure (2020- 2022)