CIBN records N1.55bn income

Chartered Institute of Bankers of Nigeria (CIBN) has recorded total income of N1.55 billion for the financial year ended December 31, 2019. The amount represents an increase of 5.8 per cent compared with N1.47 billion reported in the preceding year.

Presenting the highlight of the institute’s financial account in Lagos  at the virtual Annual General Meeting, the National Treasurer of the Institute, Professor Deji Olanrewaju said the net operating surplus increased by 7.1 per cent to N577 million from N539 million recorded in the corresponding period of 2018.

The institute according to him reported 6.9 per cent increase in IGR from N1.16 billion achieved in the comparative period of 2018 to N1.24 billion within the year under review.

The members of the institute at the meeting elected new officers that would run the affairs of the council in the next two years, electing Mr Bayo Olugbemi as the 21st President of the Institute along with other officers.

Addressing members at the meeting the out going president ,Mr Uche Olowu who chaired the meeting said that the institute had made noteworthy improvement as reference point in the country and across the globe.

In the area of capacity building, he said the Institute in conjunction with a top consulting firms from PricewaterhouseCoopers (PwC) had review the syllabus of flagship Associate of Chartered Institute of Bankers (ACIB) in a bid to keep ACIB qualification relevant and ensure that the contents meet up with global standard.

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