CIBN Inducts 1, 034 New Members

Prof. Segun Ajibola, President/Chairman of Council, CIBN

Ayo Ajayi

The Chartered Institute of Bankers of Nigeria (CIBN), last weekend inducted 1, 034 new members into the various cadre of the Institute. The President/Chairman of Council, CIBN, Professor Segun Ajibola, FCIB, charged the newest inductees to translate their knowledge into entrepreneurial mindset. Read the abridged version of his message below.

As you may already be aware, the primary objectives of this induction include: the admission of graduate members who have passed the prescribed examination, fulfil all other conditions set by the Governing Council into the ACIB and MCIB Cadres.

The inductees would also have satisfied the Institute to the extents that in learning and character, they are ready to abide by the institute’s motto of Trust and Honesty.

We also use this occasion to honour outstanding members whose performances in the preceding year banking professional certification examinations were exceptional. I, therefore, commend all the inductees for their commitment to excellence, hard work and professionalism.

Cross-Section of the Inductees
Cross-Section of the Inductees

Today, we will be inducting a total of 1, 034 graduates to various categories. 42 graduates of Chartered Bankers (MBA), 234 Associates (ACIB), 689 Micro Finance Certified Bankers, and 69 Diploma graduates.

As global economies continue to find viable alternatives towards addressing socio economic challenges, Entrepreneurship has been singled out as a veritable means of achieving this.

I, therefore, implore all our inductees that as you would be certified with the institute’s certificate, the knowledge you have acquired in the course of writing the examination should be translated to an entrepreneurial mindset.

Wherever you find yourself, whether employed in public or private sector, self-employed, waiting for a job or planning to start one, the critical success factor is to think, feel, speak and act like a business owner. For those in paid employment, there must be a paradigm shift from what is called in Yoruba parlance, “Ogo ta, ogo o ta, owo Alaaru a pe.” (Whether the owner sells or not, the load carrier will collect his full pay).

I am also aware that some individuals have the mindset of, “I will do it well when I start my own business.” I bet you, you may not do any better because in the word of Aristotle, “We are what we repeatedly do.” The place to start is at your current job. Do not wait until you start your own business.

As you are aware, Banking and Finance business is so fast-pate that the things you know yesterday would have become obsolete today. Our training and Compulsory Professional Development (CCPD) Programmes take cognisance of this fact and syllabi are structured in line with emerging trends in the industry. I encourage you to take advantage of this opportunity provided by your institute and participate in such training and professional development programmes on regular basis.

As you are also aware, the Institute collaborates with some universities on MSc/ACIB programmes. Some of them are Covenant University, Ota; Babcock University, Ilisan-Remo and Caleb University, Imota, Lagos. We are also in discussion with many more universities across the country. The aim is to provide the platform for our academically inclined members to develop their talents and grow to the pinnacle of their academic career, of course, another platform for growing entrepreneurial skills.

As an institute, we understand the country’s harsh economic environment, its quality of doing business, hence, CIBN is engaging with different stakeholders to work out modalities of providing an enabling environment for professionals with an entrepreneurial mindset to contribute to the growth and development of the economy.

Recently, we participated at a round-table organised by the Senate of the National Assembly where discussions were held on how to make bank loans more affordable in terms of interest charges. Of course, the current high rate of interest hovering around 26-30% affects business growth, to say the least.

The Institute commends the National Universities Commission for approving recently, the establishment of the country’s first Technical University in Oyo State, Nigeria and Federal Government accent to the proposed establishment of an ICT University. These are the initiative that will equip the citizens with the requisite skills to become either entrepreneurs or intrapreneurs. However, we lend our voice to the clamour to declare a state of emergency to the state of infrastructure of the economy, particularly, the power sector.

Distinguished ladies and gentlemen, as I conclude, I am elated to inform you that your Institute made another giant stride in the global banking community through the election of its past president, Dr. Segun Aina, OFR, FCIB, as the pioneer Chairman of the Global Council of the Global Banking and Education Standard Board.

That Board which was launched in Nigeria for the first time during the World Conference is saddled with the responsibility of developing clear international agreed standards for the education of banking professionals across the globe. Dr. Aina would be assisted by three (3) Vice Chairmen from UK Bangkok and Ghana. Please let’s join hands together to support Dr. Aina so that he would have a successful tenure as the pioneer Chairman of the Board.

With that Board in place, and with the activities of the Board well entrenched and the objective be realised, ACIB holders in Nigeria will be as fit to work in Canada, UK Netherlands, India and South Africa. That is the objective, to globalise our qualification and Nigeria started it and here we are.

Today, I say hearty congratulations to all of you the inductees. Let me leave you with these words from Barry Schwartz, “In an ideal world, nobody’s work would be just about the money. People could pursue excellence in what they do, take pride in achievement, and derive meaning from knowing that their work improved the lives of others.”

Thank you for your kind attention.



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