Kenneth Opara elected 22nd CIBN president

Kenneth Opara was elected as the 22nd President/Chairman of the Council of the institute.

Mr Opara was elected alongside seven other members during the institute’s 2022 Annual General Meeting (AGM) in Lagos.

The new president would run the affairs of the institute for the next two years. He will be succeeding Bayo Olugbemi, whose two-year tenure ends on May 21.

In his acceptance speech, Mr Opara said that he was mindful of the fact that members of the institute expect so much from him and his colleagues.

“Let me assure you that we shall collectively do our best to deliver on your mandate as an obligatory, innovator and implementer,” he said.

“We will leverage what the past president has done and also look at how to build capacity, collaborate with the stakeholders, and work with other regulators and the banks to ensure that we make a perfect and meaningful competition.

“I thank the electoral officer and I congratulate all the candidates. I want to say that we are all winners, no victor no vanquish.”

The other elected officers are Pius Olanrewaju, 1st Vice President; Oladele Alabi, 2nd Vice President, and Mojisola Bakare-Asieru, National Treasurer.

The National Treasurer, Mr Alabi, while giving the financial highlights, said the Institute recorded an improved Internally Generated Revenue (IGR) of N1.77 billion in 202.

He said the IGR represented an increase of 20.3 per cent when compared with N1.47 billion recorded in 2020.

He added that the growth was an indication that the CIBN was strategically moving toward its aspiration of becoming financially independent.