By Oluchi Chibuzor
The Chartered Institute of Bankers of Nigeria (CIBN) has announced the approval to build a mini hall in selected linkage institutions across the six geo-political zones of the country.
The institute disclosed this at its 2021 Annual General Meeting held in Lagos at the weekend.
President/Chairman of Council, CIBN, Dr Bayo Olugbemi, who disclosed this at the meeting, said the proposed hall of 200-seating capacity would be fully furnished with air conditioning and well equipped modern multi-media communication gadgets and donated to the banking and finance department of the respective institutions as a legacy project from the institute.
Speaking further, he said that the Council has approved the developmental of its landed property in Owerri, Imo State and Osogbo- Osun State to serve the south-east and south-west zones of the Institute respectively.
He noted that the institute would also be upgrading its facility in Ilorin, Kwara State and the construction of its Lagos State permanent secretariat at Yaba, Lagos.
The National Treasurer of the Institute, Mr. Oladele Alabi, gave the financial highlights of the institute for the 2020 fiscal year with an operating surplus of N570.27 million. This represented a decrease of 0.6 per cent over the N535.49 million recorded in 2019. He said the initially approved net operating surplus budget was N535.49 million but was reviewed to N316.17 million and approved by the Governing Council due to the uncertainty posed by the Covid 19 pandemic.
Also, Mr. Kayode Sunmola of Moore Stephens RoseWater, the external auditors of the institute gave report for 2020 financials and stated that the financial position of the CIBN was in agreement with the book of account.
The Chairman of the CIBN Audit Committee, Mr. Babatunde Oduwaye affirmed that the accounting and reporting policies of the institute were in accordance with legal requirements and ethical practices.
Speaking on the 2020 operations the CIBN, Olugbemi urged members and stakeholders to remain steadfast and not be moved by the challenges confronting the world at this time and asserted his steadfast and unwavering commitments to not only achieving the targets set out in his agenda but to ensure that the Institute upholds the standards of ethics and professionalism as its established by the founding fathers.
