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I’ll take the bank to Generation Z, CIBN president-elect promises

THE President-elect of the Chartered  Institute of Bankers of Nigeria (CIBN), Dr Ken Opara, is looking  forward to leading the organization in building a banking profession that is flexible enough to appeal to Generation Z and thrives on innovation rather than regimentation, while consolidating on the gains of the current leadership, ahead of his investiture in May.

Over the weekend, the CIBN had its 2022 annual general meeting, at which Opara was elected as the 22nd President/Chairman of the Institute’s Council. He will succeed Dr. Bayo Olugbemi, whose two-year term is credited with laying the groundwork for the institute’s 46-year-old digital revolution.

In an interview with reporters shortly after his election, Opara stated that he would focus on Olugbemi’s “catch-them-young” initiative, adding that banks must find more innovative ways to “attract and work with Generation Z,” who are not accustomed to the older generation’s regimented work culture.

He admitted that the banking profession has lost its attractiveness to the younger generation, but that the CIBN will use innovation centers and other creative initiatives to rekindle interest in banking and make the majority of students enthusiastic about the field.

“Digital transformation within CIBN and among the banks is key. The process has long started, which is the reason members could participate in the election and AGM online today. We will continue to build on the process,” he noted, adding that his team would focus on digital and trade certification. He listed research and planning, capacity building and trade facilitation partnership as some of the areas CIBN would continue to focus on.

Prof. Pius Oladeji Olanrewaju (First Vice President), Oladele Alabi (Second Vice President), and Mojisola Bakare-Asieru are the other newly elected officers (National Treasurer). Dr. Victor Ndubuisi Aguwah, Olayinka Alade Odutola, Mary Oluwakemi Aina, and Segun Oshadare have been elected to the Governing Council. The officers who were elected will serve from 2022 to 2024.

According to the Institute’s financial report, internal generated revenue (IGR) increased to N1.766 billion in 2021 from N1.468 billion in 2020.

The increase amounted to a 20.3 percent increase, according to officials, indicating that the institute was strategically moving toward financial independence.

In addition, the year ended with a net operational surplus of N800.14 million in 2021, up from N570.26 million in 2020 by 40.31 percent.

Olugbemi told the members that the institute “stands tall as a vanguard for the promotion of banking education and professionalism in Nigeria and the world at large” as part of the 2021 operations. He stated the number of individual members increased by 3.5 percent year over year, from 144,922 on April 30, 2021, to 149,967 on March 24, 2022.

According to him, CIBN cooperated with Wrights & Co. to conduct the Anti-Money Laundering and Counter-Terrorist Financing (Basic and Advanced Level) and Enhanced Product Development and Customer Relationship Management Training Programs, which benefited a total of 23,274 CIBN members.

He also announced that he had completed the long-awaited collaboration agreement with the Lagos Business School for the MBA/SMP/ACIB Linkage Program.

The arrangement according to him, will allow interested applicants to enroll in the MBA/SMP program at the famed Lagos Business School and earn dual degrees in MBA/SMP and ACIB.

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