Nume Ekeghe

The President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Pius Deji Olanrewaju, has called for stronger collaboration among regulators, banks, and stakeholders to deepen digital transformation and strengthen human capital capacity in Nigeria’s financial sector.

Delivering his opening address at the CIBN Fellowship Investiture Ceremonyheld in Lagos, Olanrewaju emphasised the need for the banking industry to continue leveraging technology to drive performance, inclusion, and sustainable growth.

The ceremony, themed, “Banking Beyond Boundaries: Leveraging Technological Innovations for Enhanced Performance in the Nigerian Banking Industry,” brought together top leaders from government, finance, and technology.

Olanrewaju noted that the event marked a significant moment in the institute’s history as it conferred honours on 687 distinguished individuals, including 21 Honorary Fellows, 440 Elected Fellows, and 225 Honorary Senior Members (HCIB). He congratulated the awardees, describing their elevation as a recognition of their “dedicated service as torchbearers of innovation and integrity” and their lasting impact on the nation’s banking profession.

He said the theme of this year’s investiture reflected the rapid evolution of Nigeria’s banking landscape, which has transitioned from physical operations to dynamic, digitally connected ecosystems. According to him, “Over the past decade, Nigerian banks have evolved into expansive digital ecosystems, enabling real-time connections among millions of individuals and enterprises.”

He cited data showing that electronic payment transactions rose to N384 trillion in July 2025, with mobile and PoS payments surging over 200 per cent year-on-year — a trend he said underscores the industry’s innovation, financial inclusion, and operational efficiency.

He highlighted key milestones achieved within the sector, including progress on bank recapitalisation ahead of the 2026 deadline, the country’s removal from the Financial Action Task Force (FATF) grey list, and renewed investor confidence in Nigeria’s financial reforms.