News Report:
In a groundbreaking address at the grand finale of the 60th anniversary celebration of the Chartered Institute of Bankers of Nigeria (CIBN) and the 58th Annual Bankers Dinner, kakalistiq.com reports that Senator Mukhail Adetokunbo Abiru, FCA, Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, reaffirmed the 10th Senate’s commitment to a comprehensive review of regulations and legislation governing Nigeria’s financial landscape.
Delivering his keynote address in Lagos on Friday, November 24th, 2023, Senator Abiru, a distinguished retired bank chief executive, economist, and accountant, emphasized the pivotal role of the banking industry in any economy. He stated, “Our committee is aware of the challenges facing the financial ecosystem, and we are steadfast in our commitment to driving reforms that will fortify its foundations.”
Acknowledging the dynamic nature of the financial landscape driven by technological advancements and global economic shifts, Senator Abiru outlined the committee’s proactive approach. “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.”
Highlighting the importance of financial inclusion, the senator emphasized the committee’s dedication to initiatives that bring more Nigerians into the formal financial sector. “We believe that a financially inclusive society is stronger and more prosperous,” he remarked, expressing the committee’s tireless efforts to encourage banks to reach the underserved and unbanked segments of the population.
Senator Abiru also commended the Chartered Institute of Bankers of Nigeria for its six decades of fostering professionalism and innovation within the banking sector. He acknowledged the institute’s efforts to uphold the highest standards of integrity and competence among banking professionals.
The event, attended by top-tier bank executives, financial experts, government functionaries, and stakeholders, featured insights from the Minister of Finance and the Coordinating Minister for the Economy, Mr. Olawale Edun, and the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, on the economic, fiscal, and monetary plans of the Federal Government under the leadership of President Bola Ahmed Tinubu, GCFR. The gala showcased a collective commitment to steering Nigeria’s financial sector toward innovation, competition, and inclusivity under Senator Abiru’s leadership.
