The Chartered Institute of Bankers of Nigeria has announced plans to build mini halls in selected linkage institutions across the six geo-political zones of Nigeria at its 2021 Annual General Meeting (AGM) in Lagos.
President/Chairman of Council, CIBN, Dr Bayo Olugbemi who made this known at the Institute’s virtual AGM last Saturday 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.
He further disclosed 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, while noting that the Institute will be upgrading its facility in Ilorin, Kwara State as well as the construction of 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 representing an increase 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 gave report for 2020 financials and stated that the financial position of the CIBN was in agreement with the books of account. 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.
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 asserted his steadfast and unwavering commitment to not only achieving the targets set out in his agenda but to ensure that the Institute upholds the standards of ethics and professionalism as established by its1 founding fathers.
In the area of inclusion of ACIB and Banking and Finance Degree in government Scheme of services, he said that the Banking and Finance Degree certificates had been approved and included in Government Schemes of Service.
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 their background in banking and finance, Olugbemi said.
He said that the inclusion was announced via 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 other relevant cadre.
As parts of efforts to nurture talent and sharpen the skills of students under the Institute’s linkage programme, he said that the Council has approved the introduction of internship scheme to expose students to industry experience that will enhance their employability when they graduate.
He promised to intensify efforts to reach and engage stakeholders using best-in-class digital platforms for maximum efficiency, among other achievements.
Members in their remarks commended the President’s leadership and the
excellent work done in a difficult and challenging year, urging him and his team to do more.