The President of the Chartered Institute of Bankers of Nigeria (CIBN), Bayo Olugbemi has commended the introduction of the country’s first digital currency, eNaira, saying it was part of measures to deepen financial inclusion and integrate millions of unbanked Nigerians into the banking system.
Speaking at the 56th Annual Bankers Dinner of the institute, he noted that while the modality for the operation of the Central Bank Digital Currency (CBDC) is being fine-tuned, the launch of the electronic currency was a step in the right direction.
He commended CBN governor, Godwin Emefiele for innovative introduction of eNaira, saying” I have no doubt in my mind that it is a welcome development and a step in the right direction.
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“Equally worthy of note is the improvement, though slight, being witnessed in the exchange rate of the Naira. I wish to call for its sustenance. We are certainly working in interesting times with global growth rate at its lowest and traditional norms being challenged on a daily basis.”
Olugbemi, who was attending his last CIBN dinner as the president of the institute as he would be handing over the mantle of leadership of the institute by May 2022, noted that his tenure builds “on the solid foundation laid by our predecessors, rooted in the tradition of constantly leaning forward into the future.
He thanks members of the institute for their support in the implementation of the A-TEAM Agenda of his administration. “I want to assure you that the Institute will continue to devote its resources to the development of competencies whilst strengthening observance of ethics and professionalism in the banking industry.
He said traditionally, the Annual Bankers Dinner is the “CBN Governor’s Day” because it affords stakeholders’ the rare privilege of interacting and listening to Mr. Governor as he examines critical issues and fundamentals which has affected the banking industry within the year.
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