…invest in education, infrastructural development, and economic diversification, says Olanrewaju
…it is not award you can apply for, its bestowed upon them – CIBN Registrar
Written by Olushola Okunlade
The Chartered Institute of Bankers of Nigeria (CIBN) has urged leaders, investors to leverage Nigeria’s economy fullest potentials to unlock the nation’s prosperity that will drive Gross Domestic Product (GDP) and achieve sustainable growth.
Prof. Pius Deji Olanrewaju, Ph.D, FCIB, President/Chairman of Council of the Institute made the call while delivering his opening address at the 2024 CIBN Fellowship Investiture in Lagos on Saturday, October 26 2024.
Olanrewaju said professional bankers are expected to collaborate with the government and other stakeholders to ensure that the potentials of Nigeria are efficiently maximized. Nigeria, is a vibrant and dynamic nation, which no doubt has the potential to transform itself into an economic powerhouse.
Olanrewaju said “This can be done in part by emulating the success stories of other developing countries which have followed the same path. Countries such as Singapore, Malaysia, Indonesia, and India, once faced similar challenges but successfully navigated their paths to prosperity. These countries invested heavily in education, infrastructural development, and economic diversification. They also facilitated trade, encouraged foreign direct investment and the overall effect of these individual policies paid off. Nigeria, too, can achieve remarkable progress by learning from their experiences and implementing effective strategies. As mentioned earlier, Nigeria with its population of over 200 million could be the next success story and shining beacon for African economies.”
CIBN at its Fellowship Investiture conferred its honorary fellowship awards on 15 distinguished bankers in recognition of their contributions to the banking industry and the economy; 422 Associates as Elected Fellows while 209 Senior Management Staff of banks and the academia became Honorary Senior Members of the Institute at the event themed, “Maximizing the Potentials of The Nigeria Economy: Policy Options, Challenges & Prospects”.
CIBN Fellowship Investiture ceremony is an annual event of the Institute where the prestigious Fellowship status of the Institute is conferred on deserving members who have meritoriously distinguished themselves whilst making notable contributions to the success of the Institute, their respective organizations, the banking industry and the economy at large. In the same vein, deserving members are admitted into the Honorary Senior Membership cadre of the Institute.
Others who were conferred with the same award were Mr. Moruf Oseni, HCIB, MD/CEO, Wema Bank Plc; Mr. Bolaji Lawal, HCIB, MD/CEO, Ecobank Nigeria Ltd; Mr. Korede Adenowo, HCIB, Managing Director/CEO, FirstBank UK Limited; Mr. Dalu Ajene, HCIB, MD/CEO, Standard Chartered Bank Nigeria Ltd; Dr. Olasupo Olusi, HCIB, Managing Director/CEO, Bank of Industry; Ms. Bolaji Agbede, HCIB, Group Managing Director/CEO, Access Corporation Plc; Mrs. Patience Folashade Jacobs, Managing Director/CEO, Peerless Manufacturing Limited & Former Executive Director, Bank of Industry; Dr. Ahmed Babatunde Popoola, MD/CEO, CRC Credit Bureau Limited; Mrs. Amaka Onwughalu, HCIB, Managing Partner, Blueshield Financial Services & Member, Board of Directors, Fidelity Bank Plc; Mr. Shehu Usman Osidi, HCIB, Managing Director/CEO, Federal Mortgage Bank of Nigeria; Mr. Taiwo Joda, MCIB, HCIB, MD/CEO, Accion Microfinance Bank; Mrs. Bunmi Lawson, MD/CEO EdFin Microfinance Bank, Pioneer MD/CEO ACCION MFB & Director, Coronation Merchant Bank Ltd; Mr. Ade Bajomo, HCIB, Former President, Fintech Nigeria; Prof. Russell Olukayode Somoye, HCIB, Professor of Banking and Finance, Olabisi Onabajo University, Ago-Iwoye, Ogun State; and Prof. Binta Tijani Jibril, Professor of Economics, Bayero University, Kano top the honours list of eminent bankers who will be formally conferred with the Fellowship of the Institute.
Other members elected as Fellows include Mrs Yetunde Oni, ACIB, Managing Director/CEO, Union Bank of Nigeria Plc; Mr. Adetona Adedeji, ACIB, Ag. Director, Banking Supervision, Central Bank of Nigeria; Mrs, Osepirobo Ben-Willie,ACIB, Former Executive Director, Heritage Bank; Mr Obikwelu Chiwetalu Azubuike, ACIB, Deputy Managing Director, Access Bank Mozambique; Mrs. Ohiwerei, Irenosen Barbara, ACIB, Executive Director, Guaranty Trust Bank (Rwanda) Plc while Mr. Tokunbo Talabi, Secretary to the State Government, Ogun State; Mr. Kayode Falowo, Chairman, Greenwich Merchant Bank Ltd; Dr. Philps, Adeola Adejoke, Chairman, Parralex Bank Ltd; Mr. Alebiosu Olusegun, GMD/CEO, First Bank of Nigeria Ltd; Mrs. Chime Nkiru Sylvia, MD/CEO, Infrastructure Bank; Mrs. Hakama Sidi Ali, Ag. Director, Corporate Communications, Central Bank of Nigeria; Mrs. Effiong Glory Tony, Accountant General, Cross Rivers State; Mrs. Richard-Edet Vivian, Executive Director Finance & Administration, Nigerian Ports Authority.
Mr. Olatiregun Ayodele, Director, Finance, Federal Airports Authority of Nigeria and Dr Otenigbagbe Olufemi, MD/CEO, Refuge Mortgage Bank, Oko were invested as Honorary Senior Members of the Institute.
Special Guest of Honour, His Excellency, Engr. Abdullahi A. Sule, Executive Governor of Nasarawa State, who joined the event virtually, expressed confidence in President Bola Tinubu’s commitment to resolving foreign exchange volatility but emphasized the need for collaboration with the banking sector.
Sule backed CIBN’s suggestions, urging the institute to develop actionable programmes to support the government’s efforts, particularly in agriculture and mining.
He said that his administration had continued to focus on these two sectors as well as others and it is very important that the banking industry and the government come together,”.
Secretary to the Ogun State Government, Tokunbo Talabi and one of the inductees, highlighted how economic challenges present opportunities for growth in Nigeria’s economy and encouraged professional bankers to partner with the government and other stakeholders to drive economic growth.
Guest speaker Prof. Adeola Adenikinju, President of the Nigerian Economic Society, emphasised the importance of consistent political commitment to reforms and the implementation of inclusive policies.
“Finally, we must develop and protect the middle class. Current government policies are likely to shrink it, and the middle class is pivotal to economic growth and sustenance,” he said.
Adenikinju also urged CIBN to hold both the government and institutions accountable.
He advocated for coordinated efforts between the government, private sector, and international partners to maximise economic opportunities.
Speaking on behalf of the honourees, Mr Moruf Oseni, Managing Director of Wema Bank, pledged the commitment of the inductees to policies that would promote growth in collaboration with the government.
The honourees included Dr Adeola Phillips, Chairman of the Board of Directors at Parallex Bank; Mr Bolaji Lawal, Managing Director of Ecobank; Dr Olasupo Olusi, Managing Director of the Bank of Industry; and Ms Bunmi Lawson, Managing Director of EdFin Microfinance Bank Ltd.
Chairperson of the Occasion, Dr. Stella Chinyelu Okoli, OON, Group Managing Director/CEO, Emzor Pharmaceutical Industries Limited.
