The Chartered Institute of Bankers of Nigeria (CIBN) has joined the global community to celebrate the 2025 International Day of Banks, a United Nations-designated observance held every 4 December.
Banks as Pillars of Sustainable Development
This year's commemoration, under the theme "Empowering Sustainable Development Through Finance," focused on the critical function of financial institutions in driving economic growth and inclusion. CIBN President and Chairman of Council, Prof. Pius Olanrewaju, stated that the day honours banks, the professionals who run them, and the customers whose trust sustains the system.
He emphasised that banks are vital agents for development, not just transaction hubs. Their roles in providing credit to SMEs, funding infrastructure, and enabling financial access directly support job creation and poverty reduction.
In a significant move, the CIBN announced it will now host an Annual Ethics and Professionalism Summit every 4 December to coincide with the International Day of Banks. This initiative underscores the Institute's commitment to advancing professionalism and ethical standards within Nigeria's financial sector.
The Digital Challenge: Cybersecurity in Focus
The celebration occurs as Nigeria's financial sector undergoes rapid digitalisation, bringing both opportunities and severe risks. A stark reminder came from the African Perspectives on Cyber Security Report 2025 by Check Point Software Technologies.
The report revealed that Nigerian firms endure an average of 4,200 attempted cyber intrusions per week. This figure is substantially higher than the continental average of 3,153 and 60% above the global baseline.
Lorna Hardie, Regional Director for Africa at Check Point, linked the surge to misconfigured systems, exposed identities, and the alarming use of Artificial Intelligence by attackers. "AI has become part of the attack surface," Hardie noted, explaining that threat actors use it to automate phishing and identity theft on a large scale.
The findings highlight an urgent need for banks to bolster digital defences, implement continuous risk assessment, and foster public-private collaboration to safeguard the financial system.
Aligning Finance with Global Goals
The United Nations outlined the 2025 theme's three core imperatives: financing a liveable planet, closing the Sustainable Development Goals (SDG) funding gap, and strengthening resilient, inclusive finance. Banks are central to aligning financial flows with global climate commitments and expanding access to affordable services for vulnerable communities.
Reflecting on the summit's goals, Prof. Olanrewaju connected sustainable finance with professional integrity. "As sustainable finance gains increasing prominence, Nigerian banks are playing a pivotal role in supporting initiatives that generate lasting social and economic benefits," he said.
He concluded by stressing that professionalism and integrity are the enduring foundations of the sector's strength, and the decisions made today will shape the financial system for future generations.
