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CIBN president tasks professionals on entrepreneurship


Prof. Segun Ajibola, President and Chairman of Council of the Chartered Institute of Bankers of Nigeria.

President of the Chattered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, has stressed the need for professionals to develop entrepreneurship mindset.

Speaking at the 2017 CIBN Graduates Induction and Awards Day, he stated that the importance of entrepreneurship to professionals could not be over emphasised.

He noted that as global economies continue to find viable alternatives towards addressing social and economic challenges, entrepreneurship has been singled out as a veritable means of achieving this.


The emerging trend now, he said, is a shift to a gig economy where temporary, flexible jobs are commonplace and companies tend towards hiring independent contractors and freelancers instead of full-time employees.

Analysts have predicted that gig economic system would likely overturn the concept of full-time works that focus on lifetime careers. The primary factor that would facilitate this transition is digital disruption that makes workforce increasingly mobile and virtual thereby decoupling job and location.’

Also, the Guest Speaker and founder of Augusto & Co Limited, Olabode Augusto, who spoke on Entrepreneurship Mindset: A Critical Success Factor.
for the 21st Century Professionals, stated that great opportunities lie in challenges.

He said every entrepreneur must be innovative and have a good knowledge of how to run a business. “You must have knowledge of the business you want to run. You must also understand macroeconomics like inflation, interest rates and exchange rates, among others.

“Your choice of finance is also important. Wrong choice of finance can kill the business. You must also understand the viability of the business,” he admonished.

He further stated that other key success factors every entrepreneurs include: understanding industry dynamics and testing the idea, among others, adding that for instance, every entrepreneur must know how to grow his sales.

Speaking, the Special Guest of Honour and Chairman of African Prudential Plc, Eniola Fadayomi, stated that ‘strengthening corporate governance system and practice was important, insisting: “You must have high reputation and credibility.

Managing Director and Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, stressed the importance of self- development as a tool of success.

He urged the 42 graduates of the Chartered Banker (MBA), 234 Associates (ACIBs), 689 Microfinance Certified Bankers (MCIB) and 69 Diploma graduates inductees to develop themselves at all times.

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