CIBN seeks membership growth through strategic engagement
Chairman of the Branch, Mr. Peter Ashade, made the disclosure at the yearly general meeting (AGM), held at CIBN Learning Centre, Yaba, Lagos.
Ashade, who was elected the new chairman of the executive committee for 2019 to 2021, acknowledged the challenges facing the branch, and promised to identify the requirements of individual groups, and address them to ensure that they are active members of the Institute.
He said: “We will build strong collaboration with the National Secretariat to foster broad based membership growth. We shall champion appropriate drive for the various activities and strategic priorities to improve the relevance and impact of the CIBN across board in the country.”
He also promised to drive alliances and partnerships as one of their strategic priorities, saying: “We will form strategic alliances with selected stakeholders to drive our strategic intent and improve revenue outlook.
“We will partner with key stakeholders including governments, regulatory agencies, banks and other corporates to ensure that the Branch continually provides superior value to members.
“We will also partner with strategic growth points such as educational institutions to ensure that we contribute our quota towards creating awareness and stimulating interest in the Banking & Finance profession.”
He also spoke about plans for the adoption of high-level technology to drive operations and programmes, while mobilising resources for the building of a befitting branch secretariat for the Branch.
Immediate past Chairman of the branch, Kola Abdul, examined the nation’s economic environment in which bankers operated in the 2018 financial year, saying Nigeria still faced significant challenges.
These include foreign exchange shortages, disruptions in fuel supply, power shortages, and insecurity in some parts of the country.
He said: “Revenue mobilisation efforts are insufficient; at five per cent, value added tax rates are among the lowest in the world, and revenue administration is inefficient. Poverty is unacceptably high; nearly 80 per cent of the country’s 190 million people live on less than $2 a day.”
He however said foreign exchange liquidity has improved following the introduction of administrative measures by the Central Bank since early 2017.
The audited financial statement of the branch for the year ended 31st December, 2018, shows that the Net Assets increased by 63 per cent from N85.4million in 2017 to N139.5million in 2018. The increase of N54million was due to the revaluation of land and building by external professional valuers during the year. Income on investment increased by 114 per cent.
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