The Nigerian Exchange Group Plc has been asked to work with and support the Chartered Institute of Bankers of Nigeria (CIBN) in its proposed modification to the CIBN Act of 2007 as well as the growth of the financial industry.
According to reports, Dr. Ken Opara, the President/Chairman of CIBN, made these remarks on Monday in Lagos at the Nigerian Exchange Limited (NGX) during the institute’s 60th anniversary gong ceremony.
The proposed change will, among other things, broaden the CIBN’s regulatory purview to cover all professionals and business owners in the banking industry.
In addition, Opara stated that the institution would like to work with the NGX to advance moral corporate conduct in the Nigerian capital market.
In order to further that, he stated: “It is crucial that cooperation with this crucial institution continue as much as possible.
Our core value is cooperation, thus we will keep fostering our partnerships with the NGX Group.
In order to get dual certification, we collaborated with the Lagos Business School and accomplished so using FinTech.
“We just inked a trade certification agreement with the African Export-Import Bank to jointly manage a specialized certification program and enhance the trading capabilities of the ecosystem’s participants and operators.”
Speaking on the institute’s accomplishments, Opara stated that the CIBN has continuously produced ethical and capable banking professionals throughout the world, in line with its goal of becoming a worldwide hub for conduct and talent in the banking and finance sector.
He noted that six African nations—Serra Leone, The Gambia, Liberia, Ghana, Rwanda, and Zambia—were now hosting the institute’s Banking Professional exams.
Opara continued, stating that the institution has seen a sharp increase in the number of members, adding almost 20,000 in a single year, 84% of whom were younger than 27.
Among other accomplishments, he said this worked in tandem with his FUTURE goal as the 22nd President of CIBN.
Mr. Oscar Onyema, the Chief Executive Officer of NGX Group, greeted the CIBN team and stated that the exchange acknowledges CIBN’s contribution to the Nigerian capital market’s ecosystem as a whole.
Speaking on the demutualization of the NGX, Onyema stated that as a result of the process, the exchange had become a holding company that was not in operation and had three subsidiaries.
He claims that as a result, the exchange is now a fully owned shareholder business with the aim of generating value for its partners and stakeholders, including CIBN, as well as its shareholders.
“The exchange acknowledges your collaboration in all of our efforts to establish the ideal ecosystem from the Nigerian capital market.
“We are older than anywhere else here, just over 60. However, the exchange acknowledges the CIBN’s contribution to the Nigerian capital market’s entire ecosystem, and it gives us great pleasure to have you visit the Nigeria Exchange Limited today,” he added.
Onyema was represented by Mr. Jude Chiemeka, Executive Director, Capital Markets, Nigerian Exchange Ltd.