Report of the registrar/chief executive the chartered institute of bankers of Nigeria (cibn) Saturday, May 17, 2014

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International Finance Corporation (IFC)

The Institute also collaborated with International Finance Corporation, a member of the World Bank Group to develop and run programmes on Law, Ethics and Corporate Governance subject of the banking professional examinations.

A Train-the-Trainers’ Workshop on Ethics and Corporate Governance was also organized on September 25, 2013 for Tuition Centre Operators and Linkage Institutions.

The workshop which was aimed at equipping participants with requisite knowledge and skills for teaching the Ethics and Corporate Governance section of the new syllabus was well attended.

  • IFS School of Finance, London.

In the year 2013, the Division also conducted the Chartered Institute of Bankers (CIB) London examinations in Nigeria on behalf of IFS School of Finance, on April 12 and September 13, 2013 respectively.

    1. Examination Services

      1. Conduct of Examinations

The Institute conducted its banking professional examinations in the months of April and October 2013 in Nigeria and The Gambia. The results of the examinations were processed and released in the record time of less than four weeks.
In the year under review, a total of nine hundred and seventy-five (975) candidates completed the final levels of various examinations as follows:





Certificate in Banking






Microfinance Certification programme (MCP)



Treasurers' Dealership Certificate (TDC)



Chartered Banker MBA Programme







      1. Appointment of New Examiners

Following the take-off of the New Syllabus and Certification Programmes in 2014, the institute through a rigorous selection process, engaged a high profile, experienced practitioners and academia as Chief Examiners, Assistant Chief Examiners, Examiners and Question Setters for the banking professional examinations.

      1. Review of Examination Misconduct: Offences and Penalties Policy

The Institute’s Examination Misconduct: Offences and Penalties Policy was reviewed and approved by the Governing Council to include the following:

  • Refusal to Complete Examination Misconduct Form

  • Assault on Examination Official(s)

  • Bringing telephones or other unapproved electronic/information communication technology gadgets into the examination hall.

      1. Management of Examination Misconduct

A total of Thirteen (13) cases of Examination Misconduct were recorded in 2013, nine (9) in April and four (4) in October, respectively. Following the Governing Council’s decisions on the cases, offenders were sanctioned according to the Institute’s Regulations and Syllabus for Banking Professional Examinations.

      1. Examination Results Appeal Process

The Division developed a process which provides a guide on the steps of actions to be taken by anyone seeking a review of his/her examination results. The process has since become operational following the approval given by the Governing Council on November 28, 2013.

      1. Examination Centres

During the year, a new examination centre was established in Asaba, Delta State with the CBN Office, Asaba as the venue for the examinations while in three (3) other centres, changes were effected on the locations as shown below:







St. Dennis Grammar School, Onitsha.

Bishop Okoye Retreat & Conference Centre (BORAC) Onitsha.



Former CIBN Zonal Office, Aba.

Rhema University, Aba.



Usman Dan-Fodio University Teaching Hospital, Sokoto (UDUTH).

Central Bank of Nigeria, Sokoto.

      1. Transcript Applications

A total of thirty two (32) academic transcripts were processed on behalf of candidates and sent to various Institutions, locally and internationally.

      1. Overseas Examination Centres

In 2013, the Institute re-opened discussions with relevant authorities in some West African Countries on the establishment of its Examination Centres in the countries. This initiative was accomplished as follows:-

  • Sierra Leone

The official signing of the Memorandum of Understanding (MoU) on the establishment of CIBN Examination Centre in Sierra Leone between the Institute and Sierra Leone Association of Commercial Banks (SLACB) on one part and Bank of Sierra Leone on another was held on Wednesday April 2, 2014 in Free Town. Thus, effective October, 2014, CIBN Examinations would be conducted in the Sierra Leone.

  • The Gambia

The Institute also formalised its relationship with the Central Bank of The Gambia on the conduct of the CIBN Examinations in The Gambia with the signing of the Memorandum of Understanding on Thursday April 17, 2014 in Banjul, The Gambia.

Consequently, the Central Bank of The Gambia will be actively involved in the conduct and administration of the CIBN Examinations in The Gambia in conjunction with the Institute of Bankers of The Gambia with effect from October, 2014.

  • Liberia

The proposed Examination Centre in Liberia would hopefully be firmed up before the end of 2014.


    1. Human Resources Unit

      1. Staffing

The Institute’s work force as at end of 2013 was fifty three (53) core ( inclusive of two (2) and three (3) members of staff in the Eastern Zonal Office and National Secretariat Annex, Abuja, respectively), and thirty six (36) non-core staff.

      1. Staff Recruitment, Confirmations & Exits

During the year under consideration staff recruitment, confirmations and exits were as follows:

        1. Recruitment

One (1) Middle Management Staff member was engaged on a six (6) month contract basis. At the expiration, the contract was renewed for another six (6) months.

        1. Confirmations

A total of five (5) members of staff in the following cadres were confirmed during the year:
Executive Management 2

Senior Management 1

Middle Management 1

Senior Staff 1

Total 5

        1. Exits

Two (2) Senior Management staff exited the services of the Institute during the year.

      1. Staff Training and Development

In the year under review, twenty one (21) staff members attended external training programmes, which involved technical, operations and leadership development. More training programmes have been earmarked for 2014 to enhance staff knowledge, skills and performance. Five internal training programmes were also organized during the year 2013.

      1. 3rd Annual Anti-Money Laundering (AML) & Financial Conference Africa, Ghana

The Institute participated in the 3rd Annual AML & Financial Conference Africa, Ghana held from December 10 to 11, 2013 in Accra, Ghana. The Institute was represented by Head, Internal Audit & Compliance.

      1. 8th E-Learning African Conference, Namibia

The Head, Information and Communication Technology Unit represented the Institute at the 8th E-learning African Conference held from May 29 to 31, 2013 in Windhoek, Namibia. Participation in the Conference was used as an opportunity to understudy the operation of the ICT Department of Namibia Institute of Bankers, Namibia.

      1. West African Bankers Association (WABA)

The Institute participated in the WABA Statutory Meetings (63rd Executive Council and General Assembly) and seminar for Bank Chief Executive Officers and Central Bank Governors in West Africa held on May 23, 2013 in Monrovia, Liberia. The Institute was represented by the Group Head, Finance & Corporate Services Division.

      1. Asian - Pacific Association of Banking Institutes (APABI) Conference

The Registrar/CEO, was invited as Guest Speaker to the above Conference held in Malaysia from 7th to 8th of October, 2013. He delivered a paper titled: “Different Volks for Different Folks – The Differentiated Customer Experience”. The Group Head, National Secretariat Annex, Abuja (NSAA), also attended the conference. The opportunity was used to understudy the Institute of Bankers, Malaysia.

      1. 2nd Forum of the Arab Banking Training Network Conference

The Registrar/Chief Executive, who also doubles as the Chairman of the Alliance of African Institutes of Bankers (AAIOB) was invited as a Guest Speaker to the Arab Banking Training Network Conference in Cairo, Egypt. He used the avenue to share his experience with the participants at the conference during which he spoke on the topic: “The Role of Alliance of African Institutes of Bankers (AAIOB) in developing the African Banking Industry”. The Conference was held from December 10 -11, 2013.

    1. Salary Increase

In order to attract and retain quality staff to drive the Institute’s business, the Governing Council in 2013 approved a 25% salary increase across board. The increase took effective from September 2013.

    1. Bankers House Renovation

To ensure a conducive working environment, Phase 1 of the Bankers House renovation exercise was completed during the year under consideration. The renovation has no doubt added value to the Institute’s image as a preferred professional institution. The second phase of the project commenced in January 2014.

    1. Information Communication & Technology Unit

      1. Website Upgrade

The Institute’s website – - upgrade was concluded during the year to make it more robust, interactive and flexible. Thus, navigation within the website has become easier. Furthermore, an instant messaging facility was added to the website for instant responses to enquiries and complaints.

      1. Office365 Cloud Computing

To strengthen internal capacity of staff and achieve operational excellence, Office365 Cloud Computing was successfully implemented and this has led to elimination of system down time and improved e-mail availability.

      1. E- Learning Portal Implementation

During the year under consideration, the Institute implemented an off-the-shelf Learning Management System (LMS) – KESDEE and subscribed to EBSCO E-Library Journals. These were done to improve members’ professional knowledge, skills and competencies through online learning, thus using technology to accomplish operational excellence.

      1. Online Bookshop

In the year under review, the Institute implemented an online platform for members and other stakeholders to be able to buy books online from CIBN Bookshop. This facility is already being patronized by members and other persons.


    1. Research Unit

      1. 2013 Valedictory Lecture.

The Institute’s 2nd Valedictory Lecture was held on Tuesday, March 19, 2013, at Ijewere Hall, Bankers House, Lagos. The theme was “Tertiary Level Banking and Finance Education in Nigeria: A peep into the Ibadan window and a Vision for the Future”. The Guest Lecturer was a former Director of the M.Sc. (Banking & Finance Programme), Department of Economics, University of Ibadan, Professor Adedoyin Soyibo. The Lecture was well attended by a broad spectrum of banking and finance professionals and practitioners, University and Polytechnic Dons and other guests.

      1. 2013 Annual Lecture

The 2013 Annual Lecture was held on Monday, November 11, 2013 at the Ijewere Hall, Bankers House, Lagos, with the theme: “Banking Make Over – What will Change?” The Guest Speaker was Dr. Andrew Hilton, a former World Bank Economist, Director and Joint Founder, Centre for the Study of Financial Innovation (CSFI), UK. The Lecture, which was well attended, attracted distinguished personalities including General Yakubu Gowon, GCFR (Rtd.) former Head of State, Federal Republic of Nigeria, who was the Special Guest of Honour, and one of the founding fathers of the Institute, Alhaji A. O. G. Otiti, OON, FCIB.

      1. Publications

The following materials were added to the stock of the Institute’s publications during the year 2013:

  • The Nigerian Banker Magazine: (A Quarterly publication - 4 issues).

        • The Journal of Banking 2013 edition. An annual academic/research journal of the Institute;

      • Proceedings of the 2012 Seminar on Banking and Allied Matters for Judges. This was presented at the National Seminar on Banking and Allied Matters for Judges in December 2013, at Abuja and also distributed to Banks, Discount Houses, Judges, The Nigeria Police Force (NPF), Economic and Financial Crimes Commission (EFCC), Nigeria Deposit Insurance Corporation (NDIC) and Central Bank of Nigeria (CBN).

      • A Compendium of past CIBN Annual Lectures (2000 - 2012) to commemorate the 50th Anniversary of CIBN. The book was launched by the President/Chairman of Council, Dr. Segun Aina, OFR, FCIB, during the 2013 Annual Lecture. He was assisted by the Special Guest of Honour, General Yakubu Gowon, GCFR (Rtd); Dr. Andrew Hilton, Guest Lecturer 2013 Annual Lecture and Otunba (Mrs) ‘Debola Osibogun, FCIB, 1st V.P. and Chairman, Planning and Organizing Committee of the CIBN at 50.

All the publications are available at CIBN Bookshop for purchase by interested persons.

      1. Financial Systems Strategy (FSS2020) Board Appointment

The Institute was during the year, appointed to the Board of the Financial Systems Strategy (FSS) 2020 of the Central Bank of Nigeria (CBN) and participated in several workshops organized by the FSS 2020 Project Management Office for the financial services industry.

The Institute was also given the mandate to develop Human Capital Development Transformation Enablers for the entire industry, by focusing on three key areas:

  • Attracting Talent to Nigeria and developing expertise within the Financial Services sector;

  • Developing Qualified Professionals to meet the FSS 2020 Standards of Ethics and Professionalism, and ;

  • Increase Financial Literacy and Awareness on Financial Products and Services.

The Institute’s proposal for carrying out this assignment has been sent to the FSS 2020 Project Management Office (PMO) for consideration and approval and we are awaiting their response.

    1. Training Unit

      1. Compulsory Continuing Professional Development (CCPD) Programmes

Five (5) streams of Compulsory Continuing Professional Development (CCPD) programmes on “Mobile Money Payments and other E-payment channels” and “Agent Banking” were organized in Lagos and Ibadan for staff of First Bank Nigeria Plc. These programmes were held between on October 21-23, 23-25, 28-30; November 14 -16, and 28 -30, 2013 respectively. A total of one hundred and eighty two (182) staff of the bank participated in the five (5) streams.
In addition, twenty eight (28) staff of Nigeria Deposit Insurance Corporation (NDIC) were trained under the Compulsory Continuing Professional Development (CCPD) scheme of the Institute.

      1. Executive, Senior and Middle Management Programmes

A total of six (6) off-site programmes were organized for Executive, Senior and Middle Management cadres of the regulatory and supervisory institutions, Deposit Money Banks, Development Banks and other financial institutions with two hundred and fifty (250) participants in attendance.
To ensure the internalization of the learning points from reported cases, the Bankers Committee Sub-committee on Ethics and Professionalism, in collaboration with the training unit, organized a series of workshops on Bonds, Indemnities and Guarantees in the year under review.
The workshops, sponsored by the Bankers Committee Sub-committee on Ethics and Professionalism, were held in Abuja, Owerri and Lagos on October 22- 24, 2013; October 29 -31, 2013 and November 13 -15, 2013 respectively.
A total of forty eight (48) participants from the banking industry were in attendance during the three (3) runs of the workshop on Bonds Indemnities and Guarantees.

      1. In-plant training programmes

In-Plant training programmes were held for the staff of the following institutions:

  • Fidelity Bank Plc, July 26 - 27, 2013 with forty-five (45) members of staff in attendance.

  • Ecobank Nigeria Plc Ltd, October 4 - 6, 2013 with forty (40) members of staff in attendance.

  • Skye Bank Plc, October 31 to November 2, 2013, with fifteen (15) participants in attendance. In total, one hundred (100) persons from the three banks participated in the programme on Bonds Indemnities and Guarantees.

Altogether, a total of six hundred and eight (608) people participated in the programmes organized by the Division during the year under review.

    1. 7th Annual Banking & Finance Conference

The 7th Annual Banking and Finance Conference was held from September 10 - 11, 2013 at Transcorp Hilton Hotel, Abuja with the theme: “Upholding Professionalism in the Financial Services Industry: Supporting the Economy”.

The Conference officially kicked off with an opening ceremony chaired by the President/Chairman of Council, Dr. Segun Aina, OFR, FCIB. The Special Guest of Honour, the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, His Excellency Dr. Goodluck Ebele Jonathan, GCFR, was represented by Dr. Yerima Lawan Ngama, Honourable Minister of State for Finance, who declared the Conference open. The Guest of Honour, Mallam Sanusi Lamido Sanusi,CON, FCIB, Governor, Central Bank of Nigeria, was represented by Alhaji Suleiman Barau, OON, FCIB, Deputy Governor, Central Bank of Nigeria, who gave the Keynote Address.
A total of six hundred and twenty (620) participants drawn from the CBN, NDIC, SEC, PENCOM, Banks, Discount Houses, Primary Mortgage Institutions, Microfinance Banks, Capital Market Operators, Insurance, Universities and Polytechnics and other sectors of the economy, attended the conference. Four (4) Chairmen of Sessions, four (4) Paper Presenters and twelve (12) Panelists handled the business sessions of the Conference.
A Conference Dinner was held with Mr. Foluso Phillips, Chairman, National Economic Summit Group (NESG) as the Special Guest of Honour while Honourable Bala Bawa Ka’oje, President, Association of Professional Bodies of Nigeria (APBN), proposed the toast to the Institute.
Dr. Oba Otudeko, CFR, FCIB, Chairman, First Bank of Nigeria Plc, also made some remarks. Awards were given to two prominent Nigerian ex- Presidents, Alhaji Aliyu Shehu Shagari, GCFR and General Ibrahim Badamasi Babangida, GCFR, for commissioning Bankers’ House, Lagos on November 6, 1987 and enacting the CIBN Act in 1990 respectively.

    1. Seminar on Banking and Allied Matters for Judges

The Institute, in collaboration with the National Judicial Institute (NJI), organized the 13th National Seminar on Banking and Allied Matters for Judges. The Seminar with theme “The Role Stakeholders in Sustainable Banking Practice in Nigeria” was attended by one hundred and thirty nine (139) participants from the Judiciary, Law Enforcement Agencies and the Banking Industry.

    1. CIBN Library

To enhance research and intellectual discourse, the Institute rendered Library services to members and non-members. A total of three thousand, seven hundred and seventy (3,770) persons registered and used the Library in 2013. The Library recorded a daily patronage of twenty five (25) users during the peak period and ten (10) during the normal period.
A total of one hundred and eighty (180) new books, eighty-four (84) Newspaper titles and thirty two (32) Journals were acquired, processed and added to the Library stock during the year under consideration. A total of eighty six (86) volumes of various monthly Newspapers were bounded up for preservation and easy reference.
The virtual/e-library project is expected to be completed in 2014 with the installation of the needed software.

    1. Promotion Interviews for NEXIM

The Institute conducted promotion tests and interviews for twelve (12) members of staff of the Nigeria Export–Import Bank (NEXIM).


The Ethics and Professionalism Division in line with the mandate of the Bankers Committee, Sub-committee on Ethics & Professionalism is saddled with the responsibility of resolving disputes relating to unethical and unprofessional infractions between banks and their stakeholders.
The Division’s activities during the year under review are presented below:

    1. Bank Consumers’ Complaints

The Ethics & Professionalism division received a total of 113 petitions/cases with petitioners’ claims amounting to about N185.4billion in the year under review. Ninety eight

(98) cases have been fully resolved with the total amount of about N2.7billlion awarded to petitioners as refunds. (See details in table below).

Analysis of Petitions/Cases Handled in 2013

Number of cases received


Number of cases resolved


Total amount claimed on all cases received for the year.



Total amount claimed on the 98 cases



Total amount awarded on 98 cases resolved for the year.



Source: CIBN Ethics & Professionalism Division
Meanwhile, since inception in 2001, the Sub-committee has received a total of 1,504 petitions/cases with total claims of N227.7 billion and US$414.8m in local and foreign currencies respectively out of which it has resolved 1,350 with N12.7billion and US$16.5 million awarded/refunded to petitioners/customers by banks as shown in the table below:

Cumulative Analysis of Petitions/Cases Handled as at December 19, 2013

Total Amount Claimed on Cases



No of cases received from 2001 to December, 2013.




Total Amount Awarded on Cases

No of cases Resolved from 2001 to December, 2013.




No of outstanding cases as at December, 2013.




Source: CIBN Ethics & Professionalism Division

    1. Referrals from the Law Courts

Some banking related cases between Banks and their Customers are now being referred by the Law Courts to the Sub-committee on Ethics & Professionalism and President and Chairman of Council for an independent investigation/Audit. This development we observed is at the instance of parties to the cases, premised upon their confidence in fairness in the judgement/decisions of the Sub-committee and the Institute. So far, seven (7) of such cases were received out of which two (2) received in November 5, 2012 and January 23, 2013 respectively have been finalised with the actual positions of the accounts forwarded to the Court while the remaining are being reviewed.

    1. Human Capacity Development/Training programmes

The Sub-committee in furtherance of its mandate also facilitated the approval of bank-wide training programmes in core areas of banking especially whenever gaps are observed in the knowledge and skills of operators. The most recent of such programmes is the Workshop on Bonds, Indemnities and Guarantees.

    1. Exposure/Study Tour of Bank Negara, Malaysia

A team of seventeen (17) delegates from member institutions of the Sub-committee on Ethics and Professionalism embarked on an exposure/study visit to the Bank Negara, Malaysia from 25th – 29th November, 2013. The visit was approved by the Bankers’ Committee at its meeting of August 13, 2013.

The study tour was to expose delegates to international best practices on Consumer complaints management and disputes resolution from the Malaysian Banking Industry’s perspective.

    1. The CIBN Investigating Panel & Disciplinary Tribunal

One (1) out of the five (5) pending cases of misconduct and ethical breaches involving members of the Institute before the CIBN Investigating Panel has been resolved.

    1. The Code of Conduct in the Nigerian Banking Industry

The Division completed the harmonization of Code of Conduct, which is to ensure strict adherence to best banking practices and strong commitment to ethical and professional standards in behavior in the Nigerian banking industry. The harmonized code was derived from the merging of the three (3) existing codes of the Banking Industry, namely:

  • Code of Ethics & Professionalism

  • CIBN Professional Code of Conduct; and

  • Code of Banking Practice

The harmonized code has been signed by the President/Chairman of Council, CIBN and the Governor, Central Bank of Nigeria/Chairman, Bankers Committee. It is, at present being published and will be circulated within year 2014.

    1. Criteria for Registration of Consultants in the Nigerian Banking Industry

The Criteria/Guidelines for Registration of Consultants was approved by the Sub-committee on Ethics & Professionalism after its completion by the Division. It is presently being reviewed by the Legal Department of the CBN as directed by the Bankers Committee. The Criteria will help to improve the quality of consultants who bring cases to the Ethics and Professionalism Division and also consult for the stakeholders in the industry.

    1. Collaborations with Relevant Institutions

In its continuing efforts aimed at improving the process of resolving cases, the Division has developed with time, collaborations with relevant institutions as follows:

      • Central Bank of Nigeria (Consumer Protection Department and the Banking Supervision Department)

      • Nigeria Deposit Insurance Corporation (NDIC)

      • The Judiciary.

      • Lagos Multi Door Court House


    1. Legal and Council Affairs Unit

      1. Review of CIBN Act No 5 0f 2007

The Governing Council at its meeting of March 14, 2013, approved that the CIBN Act Review Committee should carry out further work on the Draft Bill and to commence the process of consultations, provide timeframe, roadmap, cost implications, as well as follow up with the National Assembly to find out the most feasible way the amendments would be brought to the National Assembly for easy passage into an Act. Whereas the Committee had undertaken the assignments, Council at its meeting of November 28, 2013 directed that an internal Public Hearing on the draft bill be embarked upon by the Committee. The directive would be carried out before the end of 2014.

      1. Amendment of Laws

The Institute made input to the following Bills being considered by the National Assembly for enactment into Acts:


Type of Bill



Bill to Establish the Chartered Institute of Financial and Investment Analysts of Nigeria.

May 13, 2013


Bill to Establish The Chartered Institute of Securities and Investment.

June 2013


The Nigeria International Financial Centre Bill.

July 23, 2013


The Nigerian Financial Ombudsman Bill.

July 23, 2013


Bill to Amend Sections 2, 16(5), 34(1)-(2), 35, 46(2), 48, 60, 61, and 62 of the Asset Management Corporation of Nigeria Act, 2010.

September 19, 2013


Bill to Facilitate Electronic Transactions in Nigeria.

November 2013

      1. CIBN Vision Statement and Corollary

The Governing Council at its meeting of June 13, 2013 approved new CIBN Vision Statement which is ‘‘To be the global reference point for professionalism and ethics in the banking and finance industry’’ and also ‘‘Thought Leadership’’ to be used as the corollary to ‘‘CIBN’’.

      1. Sure - P Graduate Internship Programme

The Institute in course of the year under review, registered with the Sure - P Project of the Federal Government of Nigeria to collaborate in the training, career development and progression of Banking and Finance graduates.

      1. Invitation by House Committee on Banking and Currency

The Institute honoured the invitation of the House on Banking and Currency at the National Assembly, Abuja in connection with the Institute’s decline to grant International Institute of Bankers a letter to enable it to be registered by the Corporate Affairs Commission. At the meeting held on January 30, 2014 the Institute defended its position since the objectives and membership targets of the proposed new Institute are similar with those of the Chartered Institute of Bankers of Nigeria (CIBN).

      1. Inauguration of Board of Centre for Financial Studies

The Advisory Board of the Centre for Financial Studies was inaugurated on December 19, 2013. The Board is chaired by Dr. (Mrs) Sarah Alade, OON, FCIB, Deputy Governor, Central Bank of Nigeria.

      1. CIBN Way

Management has articulated and presented to the Office Holders on March 23, 2014 an operational Charter christened “CIBN Way” for all employees of the Institute. Adoption and implementation of the Charter will bring about positive momentum to the affairs and performance of the Institute.

      1. Disciplinary Tribunal Rules

Punuka Attorneys & Solicitors on February 21, 2014 presented to the Institute, the final draft of the CIBN Disciplinary Tribunal Rules which will guide the operations of the Tribunal. The bill for the services rendered by Punuka Attorneys & Solicitors has been under-written by Mr. Bisi Onasanya, FCIB, a member of the Tribunal and Managing Director/Chief Executive, First Bank of Nigeria Plc. The Institute hereby expresses its gratitude to him.

      1. E-Voting

The Governing Council’s meeting of February 24, 2014 approved the use of an e-voting platform for the 2014 Annual General Meeting/Election of officers.

      1. CIBN Intervention on Behalf of Banks

The Institute intervened on behalf of Banks, regarding the enforcement of the Weights and Measures Act by the Federal Ministry of Trade and Investment requiring all banks to pay for the use of their Note Counting machines and ATMs.

The Institute also intervened on behalf of banks on the issue of examination into tax payments and remittances by the House Committee on Finance of the National Assembly.

    1. Corporate Communications & External Relations Unit

      1. Stakeholder Engagements:

  • With Government Agencies

During the year under review, the Registrar/Chief Executive led the Institute’s delegation to Administrative Staff College of Nigeria (ASCON), Badagry. The engagement focused on complementing the Federal Government’s efforts towards ensuring availability of adequately trained and skilled manpower for both the public and private sectors of the economy.

  • With International Organizations

The Institute during the year under review visited and dialogued with the following organizations:

  • Centre for Study of Financial Innovation (CSFI), UK;

  • Chartered Institute of Bankers (Ghana);

  • Chartered Institute for Securities and Investment (CISI), London

  • Credit Counseling & Debt Management Agency, Malaysia;

  • Finance Accreditation Agency (FAA), Malaysia;

  • Financial Mediation Bureau, Malaysia;

  • Financial Sector Talent Enrichment Programme (FSTEP);

  • Global Association of Risk Practitioners/Managers (GARP), UK;

  • Institute of Financial Services (IFS)/University College, London, UK.

  • Institute of Public Administration and Management (IPAM), Sierra Leone;

  • Ministry of International Trade and Minister for the Asia-Pacific Gateway,


  • Moody’s, UK;

  • Office of the Superintendent of Financial Institutions (OSFI) in Toronto,


  • Sierra Leone Association of Commercial Banks (SLACB); and ,

  • University of Sierra Leone

  • Institute of International Finance, IIF Middle East

The engagements were on areas of collaboration between CIBN and the various institutions.

      1. Management Visits

Management of the Institute and members of the Consultative Committee on 7th Banking and Finance Conference paid courtesy visits to GT Bank Plc, StanbicIBTC Bank Plc; Sterling Bank Plc, First City Monument Bank; and United Bank for Africa (UBA) Plc to solicit support and assistance for the Conference.

      1. Membership of Alliance of African Institutes of Bankers (AAIOB)

The Institute continued to maintain its membership of the Alliance of African Institutes of Bankers (AAIOB), of which it remains the Chairman. During the year, the Institute gave a financial assistance to the tune of $20,000 (Twenty thousand US dollars only) to the body in addition to paying its annual subscription.

      1. Review of AAIOB Charter and Mission Statement

The Registrar/Chief Executive represented the Institute as Chairman at the Annual General Meeting of Alliance of African Institutes of Bankers (AAIOB), held from June 22 - 23, 2013, at the Intercontinental Hotel, Nairobi, Kenya. The Institute championed a holistic review of the AAIOB’s Charter and Mission Statement.

      1. Creation of AAIOB Website

A Website was created on May 12, 2013 for AAIOB on the CIBN Platform for members to access information easily and to create awareness about the activities of the Institutes.

      1. 47th Annual Bankers Dinner/50th Anniversary Awards & Gala Night

The 47th Annual Bankers Dinner was held on Thursday, November 28, 2013, at the Intercontinental Hotel, 52A Kofo Abayomi Street, Victoria Island, Lagos.
The high points of the event were the presentation of various categories of Awards to deserving individuals and banking institutions for their outstanding, consistent support and contributions to the Institute in particular, and the banking and finance industry in general; the launch of an electronic documentary on the Institute and the unveiling of Institute’s new Products.
The categories of the awards tagged “Golden Jubilee Awards” included, Founding Fathers Award; Veterans Award; Past Registrars Award; Special Recognition Award; Banking ICON Award; Special Service to the Institute Award and Pioneer Corporate Contributors Award.
A total of six hundred and seventy (670) persons attended the event which was the grand finale of the Golden Jubilee Celebrations of the Institute. Dr. Segun Aina, OFR, FCIB, President/Chairman of Council, delivered a welcome address; Dr. Andrew Pocock, British High Commissioner to Nigeria proposed the Toast to the Federal Republic of Nigeria, while Chief Kola Jamodu, OFR, President, Manufacturers Association of Nigeria (MAN), proposed the Toast to the Institute.
The Keynote Address was presented by the Governor of the Central Bank of Nigeria, (CBN), Mallam Sanusi Lamido Sanusi, CON, FCIB. He used the occasion to appraise the banking Industry in the last four years. The apex bank boss explained the efforts/progress made by the CBN to stabilize the financial

system, adding that the country would soon reap the maximum benefits of a “cashless economy” being promoted by the Bank.

      1. Collaborations with Other Institutions

The Institute also collaborated with the following local and international Institutions for human capital development in the year under review:

  • Central Bank of Nigeria (CBN)

  • Nigeria Deposit Insurance Corporation (NDIC)

  • International Finance Corporation (IFC)

  • Global Association of Risk Practitioners (GARP)

  • Egyptian Banking Institute, and

  • Institute of Bankers, Malaysia

      1. 20th World Conference of Banking Institutes, Kenya

During the year under review, the 20th World Conference of Banking Institutes, (WCBI) took place in Nairobi, Kenya, from June 23-27, 2013. Dr. Segun Aina, OFR, FCIB, President/Chairman of Council, CIBN, led other delegates including Dr. ‘Uju M. Ogubunka, FCIB, Registrar/CEO, Mr. ‘Laoye Jaiyeola, FCIB, Past President, CIBN and others to the conference. While Dr. Segun Aina, OFR, FCIB was a Panelist on the topic “The Quest for Ethical Professionalism and Best Practice in Financial Services”, Dr. ‘Uju M. Ogubunka, FCIB was a Panelist on the topic “Banking Education and Training in the context of the Changing Financial Services Landscape”. Sixty-eight (68) participants (11 from Nigeria) from 20 Countries attended the conference. The 21st World Conference of Banking Institutes would be hosted by the Korean Banking Institute from April 5 - 8, 2015.

      1. 22nd Word Conference of Banking Institutes

The Council approved that the Institute should bid to host the 22nd World Conference of Banking Institutes (WCBI) in 2017. The Institute has contacted the European Banking Training Network (EBTN), the organization that confers hosting rights to WCBI. The Institute has also been invited to the EBTN’s Annual General Meeting (AGM) scheduled to hold June 24, 2014 at Helsinki, Finland.

      1. Visits to the Institute

The following organizations paid courtesy visits to the Institute during the year 2013:

  • Ahmadu Bello University, Zaria,

  • BOWEN University, Iwo

  • Covenant University, Ota

  • Chartered Institute of Stockbrokers (CIS),

  • CIBN Lagos State Branch

  • Federal Polytechnic, Ilaro

  • Federal Polytechnic, Offa

  • FSS 20:2020 Project Management Office (PMO), Central Bank of Nigeria

  • GIZ (German Agency for International Development and Cooperation)

  • Heritage Bank Plc

      • National Association of Banking and Finance Students, Anambra State University Chapter;

    • National Association of Banking and Finance Students, Rufus Giwa Polytechnic, Owo, Ondo State.

  • New York Institute of Finance, New York, U.S.A

  • Osun State Polytechnic, Iree

  • Agusto & Co.

  • Montgomery west Africa

    • Students of the Banking and Finance Department, Plateau State Polytechnic, Barkin-Ladi, Plateau State; and

    • Banking and Finance Students Association (BAFSA), Yaba College of Technology Chapter, Lagos.

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