As the evolving economic and geopolitical environment presents both opportunities and challenges for the banking industry, the Chartered Institute of Bankers of Nigeria (CIBN) has urged banks to build capital buffers to withstand shocks, enhance foreign exchange liquidity management and strengthen risk management.

Despite an increase in foreign exchange transactions as well as growth in the oil and gas sector financing, the institute said banks must rebalance sectoral credit exposures and accelerate digital transformation and efficiency.

Chairman of the CIBN, Lagos Branch, Akinwunmi Lawal, said this during the branch’s yearly general meeting, noting that the outlook for both the global and Nigerian economies remained cautiously optimistic.

He said while the nation’s economy is projected to sustain moderate growth, largely supported by reforms and non-oil sector expansion, sustained policy consistency and structural reforms remained critical.

Noting that inflation is expected to decline gradually, Lawal said exchange rate stability was expected to improve over time.

While the economy is on a path of gradual stabilisation, for the banking sector, Lawal called for resilience, strategic agility, and unwavering commitment to professionalism and ethical standards.

According to him, the just-concluded recapitalisation of banks by the Central Bank of Nigeria (CBN) is indeed a step in the right direction.

Giving his report, Honorary Treasurer, Lagos CIBN, Damilola Owoeye, said even as the branch navigated a complex economic environment characterised by inflationary pressures, exchange rate volatility, and elevated operating costs, it emerged with a solid surplus, a strengthened balance sheet, and an enhanced cash position.

He said continued growth in digital banking, regulatory capital adequacy requirements, and evolving technology presented both opportunities and challenges that will drive demand for professional development. A positive outlook, he added, was for the branch’s education programmes.

In their goodwill messages, the President of the CIBN, Prof. Pius Olanrewaju, urged the branch to be voracious in their approach to greater heights.

He also urged the members to enhance themselves with professional knowledge and integrity.
Also, the new President-Elect of the CIBN, Dele Alabi, urged the young bankers to equip themselves with the requisite qualifications and prepare themselves for the future.