CIBN tasks incoming administration on tough reforms

The Chartered Institute of Bankers of Nigeria (CIBN) has tasked the incoming administration with demonstrating the political will to implement tough reforms that would help to prevent economic leakages.

The Institute also maintained that ensuring proper channelling of scarce resources to critical sectors of the economy should be prioritised.

President and Chairman of the Council of the institute, Dr. Ken Okpala, stated this in his report at the CIBN Lagos Branch yearly general meeting and election of new executives in Lagos.

He said the country is on for another cycle of leadership at a time when there are daunting fiscal, monetary and social challenges to surmount.

He pointed out that Nigeria was in dire need of leaders that have the competence, capacity and creativity to tackle myriads of problems bedeviling the economy, adding that the challenging environment could worsen before it can get better, even with a leadership that is willing to introduce the needed reforms.

The new chairman of the branch, Adeyemo Adeoye, in his acceptance speech, said his programmes for the next two years would be anchored on four strategic areas – aggressive membership drive, significant revenue generation, improved staff welfare and operational efficiency of its executive committee.

According to him, the programmes that will form the core activities of the branch in the next two years (year 2023 – 2025) and would strictly align with the strategic vision, goals and core values of the national body.

He also unveiled plans to create an investment desk to promote Lagos State as an investment destination

Adeoye said the desk would focus on assisting foreign investors, who have intentions of leveraging investment opportunities in the state.

“This desk will be established to promote Lagos as an investment destination. The platform will focus on providing important assistance to numerous foreign investors, who have intentions of taking steps to invest in the endless opportunities embedded in the Lagos economy, even before their physical presence in the state,” he said.

He urged members to build on the profitability index, which the immediate past chairman of the branch had laid to continue in their revenue generation drive and boost profitability.