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Bayo Olugbemi

President, Chartered Institute of Bankers of Nigeria, Mr Bayo Olugbemi

The Chartered Institute of Bankers of Nigeria has said it received 67 petitions from depositors against banks in 2020, with claims totalling amounted to N11.7bn.

The CIBN disclosed this in its 2020 annual report, which was obtained by our correspondent.

The institute said its ethics and professional division was able to resolve 53 of the reported cases.

Part of the report read, “The ethics and professional division received a total of 67 petitions/cases with petitioners’ claims amounting to about N11.76bn.

“Fifty-three cases were fully resolved with the total amount of N1.7bn refunded to the petitioners.”


During its annual general meeting on Saturday, the CIBN said it approved to build a mini hall in selected linkage institutions across the six geopolitical zones of Nigeria.

The President/Chairman of Council, CIBN, Dr Bayo Olugbemi, said the proposed hall of 200-seating capacity would be fully furnished with air conditioning and well equipped modern multimedia communication gadgets and donated to the banking and finance department as a legacy project from the institute.


He said that the council had approved the development of its landed property in Owerri, Imo State and Osogbo, Osun State to serve the South-East and South-West zones of the institute.

The institute, he added, would also be upgrading its facility in Ilorin, Kwara State and construct its Lagos State permanent secretariat at Murtala Muhammed Way, Yaba, Lagos.


Olugbemi encouraged the members and stakeholders to remain steadfast and not be moved by the challenges confronting the world at this time.

He assured them of the institute’s steadfast and unwavering commitment to not only achieving the targets set out in his agenda but also to ensure that the institute upheld the standards of ethics and professionalism established by the founding fathers.

In the area of inclusion of ACIB and banking and finance degree in government schemes of services, he said the banking and finance degree certificates had been approved and included in government schemes of service.

The approval represented a major milestone in the institute’s efforts at ensuring the inclusion of the ACIB as this would equally open doors for the members with a background in banking and finance, Olugbemi said.


He said the inclusion was announced via a memo dated April 12, 2021 with an effective date of December 4, 2020, from the Office of the Head of Service of the Federation.

He said as parts of efforts to nurture talent and sharpen the skills of students under the institute’s linkage programme, the council had approved the introduction of an internship scheme to expose students to industry experience that would enhance their employability after graduation.


He promised to intensify efforts to reach and engage stakeholders using best-in-class digital platforms for maximum efficiency.

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