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CIBN, Accion MfB collaborate for growth

By on February 13, 2015

The Chartered Institute of Bankers of Nigeria and Accion Microfinance Bank will collaborate to boost capacity building and enhance growth in the MfB sub-sector and the economy in general, the President and Chairman of Council, CIBN, Mrs. ‘Debola Osibogun, has said.

She said the two organisations would also cooperate in other areas of mutual benefits in order to fast track the achievement of the financial inclusion objectives of the Central bank of Nigeria.

Osibogun stated these when top officials of the institute paid a courtesy to the head office of Accion MfB in Lagos on Wednesday. .

She said, “I term this as a stakeholders’ engagement because Accion is also a stakeholder in the CIBN. MfBs are members of the CIBN; they have a seat on our council. And we believe that we need to go out, find out what the challenges of the sector are and see if they are things we can mitigate.

“One of the areas has to do with the Central Bank of Nigeria’s intervention fund. I was glad when the Accion managing director informed me this afternoon that her organisation had accessed the fund. We could use that to encourage other MfBs to access the fund.

“It is for the benefits of the downtrodden, the people who do not have access to corporate finance. We feel that people that are excluded from the financial industry could come in, the country will know how much is in the economy, and this is good for governments’ planning purposes.”

The CIBN leader commended Accion MfB for its commitment to financial inclusion, relentless support for the development of microfinance and efforts towards economically empowering micro-entrepreneurs and low-income earners.

In a statement later issued by the bank, Osibogun was quoted as noting with satisfaction, the bank’s contributions to the institute’s endowment fund, stating that it would further engender professionalism and stimulate improved performance by students writing the CIBN Microfinance Certification Examinations.

“This is a valuable contribution towards supporting capacity building for the microfinance banking sector and, by extension, the economy at large”, she said.

According to the CIBN president, the institute’s core mandates includes determination of the standards of knowledge and skill to be attained by persons seeking to become members of the banking profession; conduct of professional examinations leading to the award of certificates as may be prescribed by the institute and ensuring the furtherance, maintenance and observance of ethical standards and professionalism among practitioners of the banking profession in Nigeria.

The Managing Director, Accion Microfinance Bank, Bunmi Lawson, in her response, said the bank would continue to explore other areas of partnership with the CIBN, while appreciating the visit by the institute’s officials.

She added, “Accion Microfinance Bank is pleased to be recognised by the CIBN for our efforts in the industry. As the bank is expanding across Nigeria, we will continue to provide sustainable financial services to reach the unserved and underserved in the country.”

The president was accompanied by the second Vice-President, Dr. Uche Olowu, Acting Registrar, Mr. Seye Awojobi, and other top officials of the institute.