Senator representing Lagos East Senatorial District, Mukhail Adetokunbo Abiru has lauded the Chartered Institute of Bankers of Nigeria (CIBN) for being a ‘beacon of excellence, fostering professionalism and innovation within the banking sector for six remarkable decades.’
Abiru who doubles as Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions revealed this in his speech at the 58th Annual Bankers Dinner and Grand Finale of the 60th Anniversary of CIBN held in Lagos on Friday.
“The Chartered Institute of Bankers of Nigeria has been a beacon of excellence, fostering professionalism and innovation within the banking sector for six remarkable decades. Tonight, we commend the Institute for its tireless efforts in upholding the highest standards of integrity and competence among banking professionals.
As the Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, I stand before you as a partner in progress, committed to fostering an environment that allows our financial Ecosystem (regulators & operators) to thrive in order to protect the interests of all stakeholders. The banking industry plays a critical role in any economy, and it is our responsibility to nurture its growth, resilience, and sustainability,” he said.
The former MD/CEO of Polaris Bank noted that the Committee he chairs is aware of the challenges bedeviling the Financial Ecosystem in Nigeria and has kickstarted driving reforms to address them.
His words: “Our committee is aware of the challenges facing the Financial Ecosystem, and we are steadfast in our commitment in driving reforms that will fortify its foundations. The financial landscape is evolving rapidly, driven by technological advancements, global economic shifts, and the need for greater financial inclusion. We recognize the imperative for our banking institutions to adapt and embrace these changes to remain competitive on the
global stage.
“To this end, the Senate Committee on Banking, Insurance, and Other Financial Institutions is actively engaged in a comprehensive review of existing regulations and legislation governing the Financial Ecosytem. We are collaborating with industry experts, stakeholders, and regulatory bodies to ensure that our legal framework is not only robust but also flexible enough to accommodate innovation while safeguarding the stability of the financial system.
“Furthermore, our committee is focused on promoting financial inclusion initiatives to bring more Nigerians into the formal financial sector. We believe that a financially inclusive society is stronger and more prosperous, and we are working tirelessly to create an environment that encourages banks to reach the underserved and unbanked segments of our population.”
The former Lagos State Commissioner of Finance further assured of his Committee’s resolve to help the banking sector realise its pivotal role of enhancing the nation’s development by fostering a business environment that encourages innovation, competition, and inclusivity.
“I want to assure all of us gathered here today that the Senate Committee on Banking, Insurance, and Other Financial Institutions is unwavering in its commitment to driving positive reforms in the banking industry. We are cognizant of the pivotal role that the banking sector plays in Nigeria’s economic development, and we are dedicated to fostering an environment that encourages innovation, competition, and inclusivity.
“As we celebrate the 60th anniversary of the Institute, let us recommit ourselves to the shared goal of building a resilient, dynamic, and inclusive banking industry that will catalyze the economic prosperity of our great nation.
Congratulations and thank you for your attention.”
