CIBN Stakeholders Lauds Council For The Financial Performance

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The Stakeholders of the Chartered Institute of Bankers of Nigeria CIBN yesterday during their Annual General Meetings AGM showered appraises on the Governing Council of the Institute’s financial performances over the twelve months in office.

The Institute’s AGM was held at its Corporate Office, Adeola Hopewell Lagos shown sterling operational performance results in spite of the challenging economic environment encountered in the year under review.

The institute raked in a total of N936.2million as against N872.45milion in 2015, an increase of N63.75miilion representing 7.3percent. This has resulted in a growth of rate 18% in 2016 from a net worth of N1.50billion in 2015 to N1.77billion in 2016 respectively.

The net operating surplus of N231.8million declared in 2016 indicates a slight increase from the N225.6million declared in previous year.

Prof Segun Ajibola, the President/Chairman of Council, CIBN, said the institute’s financial performance in the year 2016 reflects a healthy financial position. This affirms that the policies formulated and implemented to ensure that institute’s long term financial independence is guaranteed are indeed yielding fruits, he added.

The Prof also noted that it is imperative for me to inform you (stakeholders) that the modest achievement of the financial numbers stated above was the result of a relentless focus on implementing agreed measures and policies aimed at ensuring that the journey towards the full realization of the institute’s vision is not hampered or hobbled by a lack of financial capacity.

Council disclosed in the reports that it has appointed to coordinate the major human capacity enablers of the project which include “Attracting Talents to Nigeria and Developing Expertise within the financial service sector and developing qualified professionals to meet FSS2020 Standards of Ethics”

Speaking at the event, the Registrar/Chief Executive & Secretary to the Governing Council of the Institute, Seye Awojobi said the year 2016 was both challenging and rewarding.  Indeed, he noted that the institute weathered the storm with remarkable achievement.

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Awojobi disclosed that during the under review, the membership of the institute grew slightly to 122680 in 2016 from 118802 in 2015 representing an increase of 3.26percent. Specifically, a total of 3893 (three thousand eight hundred and ninety-three) new members were registered into the various categories.

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