CIBN Elects Olugbemi President

The Chartered Institute of Bankers of Nigeria (CIBN) at the weekend held its 2020 Annual General Meeting (AGM), where it announced the election of new officers and reviewed the 2019 financial and operational reports.

Highlights of the AGM held virtual, was the announcement of Mr. Bayo Olugbemi as the 21st elected President of the institute. Also, Mr. Ken Opara was elected the first Vice President; Prof. Pius Olanrewaju as second Vice President and Mr. Alabi, Oladele Adebiyi, as the National Treasurer.

Other elected positions in the

Governing Council are Mrs. Onitiri Rafiat Oluwatoyin; Mr. Odutola Olayinka Alade; Mr. Ajayi Rahman Olabode; and Dr. Adolor, Godwin Ununotovo, to serve the tenure 2020 to 2022.

The outgoing President, Dr. Uche Olowu, chaired the meeting with attendance by all members of the institute across the globe.

According to a statement, Olanrewaju, gave the financial highlights of the institute in 2019. The results showed that the institute recorded 7.1 per cent increase in Net Operating Surplus, from N539 million in 2018, to N577 million in the year under review.

Also, it recorded a 5.8 per cent increase in total income, from N1.47 billion in 2018, to N1.55 billion in 2019, as well as a 6.9 per cent increase in IGR from N1.16 billion in 2018, to N1.24 billion in 2019.

Speaking further on the 2019 operations the CIBN, Olowu informed members that the institute was reference point in the country and across the globe.

He said all CIBN subsidiaries, from the Centre for Financial Studies to the Press, among others, recorded improved performance.