The President and Chairman of Council of The Chartered Institute of Bankers of Nigeria (CIBN), Dr. Ken Opara, disclosed that it has engaged the leadership and members of the senate committee on the passage of the proposed CIBN Act Bill when he led a team from the institute of the senate.
Opara commended the committee for their support to the institute towards the review of the extent laws in the financial sector. He personally lauded the Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Sen. Adetokunbo Abiru, for his role in ensuring economic growth.
He said, “We commend the Senate for being sensitive to the economic situation which necessitated your invitation of the Governor of CBN for a brief overview of the state of the economy.
Opara added that the team’s visit was mean to seek the Senate’s favorable dispositions towards the proposed CIBN Act Bill and share thoughts on key issues affecting the banking and finance industry.
“The engagements you had and the issues you raised such as Inflation, FX, IMTO and the clarification on the 43 banned items are all issues of interest to the banking public.
“We also commend you on the proactive steps taken by this Committee to comprehensively review the extant laws within the financial services sector, aimed at fostering economic sustainability and growth.
“In order to align the CIBN Act 2007 with current day realities in Banking and Finance landscape, the Institute embarked on a holistic review of the Act to cater to the innovations in the banking and finance industry”.