CIBN, bank chiefs seek collaboration for economic recovery

The quest for economic recovery of the country would need a collective approach and clear-cut ideas from professionals, the Chartered Institute of Bankers of Nigeria (CIBN) and newly formed Body of Bank Chief Executive Officers, have said.

The President/Chairman of Council, CIBN, Prof. Segun Ajibola, said the need to form a cohesive body that would advise and positively influence both government, regulators and policy makers on pragmatic formula to resolve the economic challenges of the nation has become imperative.

Ajibola, who stated this at the inaugural meeting of the CIBN’s Body of Bank Chief Executive Officer in Lagos, noted that the institute has restrategised to lead thought leadership engagements as part of efforts to contribute to the development of the country.

According to CIBN chief, the newly formed body would act as a think-tank group that will advise government and regulators on emerging or topical issues affecting the industry, among other key economic and advisory functions.

Afolabi, who code-named the agenda of his administration at CIBN as “7Cs Mandate”, said: “We are aware of the enormous task tasks ahead of us which is why we need your support, cooperation in building a virile cohesive industry with ethical conduct and professionalism as its key pillar.”

The inaugural Chairman of the Body and Chief Executive Officer of Access Bank Plc, Herbert Wigwe, reminded members that Nigeria was going through a difficult time that requires unity of purpose and idea to resolve.

“I think if there is a need for corporation in the market, definitely for all of us who are here, in the entire history of our careers, it has never been like this before. We can only work together as a team if we are going to come out of the current problem that we face “With the deteriorating macro, I think the entire industry would feel it more than any sector in the economy with the increased interference in the legislature. If we remain in the body that is not truly united, at the end of the day, we will all suffer for it,” he said.