Professor Pius Olanrewaju Sworn In as 23rd President of CIBN

Professor Pius Olanrewaju has been inaugurated as the 23rd President and Chairman of the Council for the Chartered Institute of Bankers of Nigeria (CIBN). The ceremony, held in Lagos on Friday, was presided over by Justice Owolabi Dabiri and chaired by Senior Advocate of Nigeria, Wole Olanipekun. After the swearing-in, Olanrewaju was adorned with the insignia of office.

In a goodwill message, Speaker of the House of Representatives, Tajudeen Abbas, represented by House Committee on Banking Chairman, Nwachukwu Eze, praised the immediate past CIBN president, Ken Opara, and urged the new leadership to leverage technology to enhance financial inclusion.

“Today, as you welcome the incoming President and new Chairman of the Council, we also reflect on the challenges and opportunities that lie ahead. The banking sector is constantly evolving, driven by technological advancements, regulatory changes, and shifts in customer behaviour,” Abbas said. He emphasized the importance of embracing innovation and collaboration to navigate these changes and promote financial inclusion and sustainable development.

The Inauguration of Prof. Pius Deji Olanrewaju, Ph.D, FCIB, as the new President/Chairman of the Council marks a significant milestone for the institution.#CIBNCares#presidentialinvestiture pic.twitter.com/cQeIATaUGi

— CIBN, Nigeria (@cibnigeria) May 17, 2024

“Despite progress in expanding access to financial services, millions of Nigerians remain excluded from the formal banking sector. It is incumbent upon all stakeholders, including the CIBN, to redouble efforts to promote financial literacy, expand access to finance, and foster inclusive growth,” he added.

Meanwhile, Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation, Bello Hassan, highlighted the need for the banking sector to prioritize cybersecurity. “A deliberate and collaborative approach to cyber risk involving all stakeholders is essential to protect the resilience of the banking system,” Hassan said.

Other elected officeholders include First Vice President, Dele Alake, Second Vice President, Mojisola Bakare-Asieru, and National Treasurer, Peter Ashade. Professor Olanrewaju was elected on April 6, 2024.