The Chartered Institute of Bankers of Nigeria (CIBN) has called on banks to build capital buffers to withstand economic shocks, enhance foreign exchange liquidity management, and strengthen risk management as the evolving economic and geopolitical landscape presents both opportunities and challenges.
Strategic Priorities for Banks
Speaking during the CIBN Lagos Branch yearly general meeting, branch chairman Akinwunmi Lawal highlighted that despite increased foreign exchange transactions and growth in oil and gas sector financing, banks must rebalance sectoral credit exposures and accelerate digital transformation and efficiency.
Lawal noted that the outlook for both the global and Nigerian economies remains cautiously optimistic. While the nation's economy is projected to sustain moderate growth supported by reforms and non-oil sector expansion, sustained policy consistency and structural reforms remain critical.
Inflation and Exchange Rate Outlook
He stated that inflation is expected to decline gradually, while exchange rate stability should improve over time. Although the economy is on a path of gradual stabilisation, Lawal emphasised the need for resilience, strategic agility, and unwavering commitment to professionalism and ethical standards in the banking sector.
He described the just-concluded recapitalisation of banks by the Central Bank of Nigeria (CBN) as a step in the right direction.
Financial Performance and Digital Growth
Honorary Treasurer of CIBN Lagos, Damilola Owoeye, reported that despite navigating a complex economic environment with inflationary pressures, exchange rate volatility, and elevated operating costs, the branch emerged with a solid surplus, a strengthened balance sheet, and an enhanced cash position.
He noted that continued growth in digital banking, regulatory capital adequacy requirements, and evolving technology present both opportunities and challenges that will drive demand for professional development. He also expressed a positive outlook for the branch's education programmes.
Call for Professional Development
In goodwill messages, CIBN President Prof. Pius Olanrewaju urged the branch to pursue greater heights with voracity and encouraged members to enhance themselves with professional knowledge and integrity.
The new President-Elect of the CIBN, Dele Alabi, advised young bankers to equip themselves with requisite qualifications and prepare for the future.
