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Bankers’ Institute clamour for collaboration on IT infrastructure

By Babajide Komolafe
The Chartered Institute of Bankers of Nigeria     (CIBN) has  called on bank operators and regulators to explore ways of collabora-ting on the provision and utiliztion of information tech-nology infrastructure (ITC).

The Institute, in a commu-nique issued at the end of its 3rd annual Bankers Con-ference, said, “The Conference noted the crucial role ITC plays in the delivery of effective banking and financial services, and recommended that, due to the huge attendant costs, regulators and operators should explore ways of collaborating in the provision and utilization of necessary infrastructure/facilities to reduce cost whilst meeting global acceptable standard.”

The communique stated, “The Conference noted with concern, the unhealthy dependence on oil-based revenue and called for the diversification of the country’s economy through: The review of all legal and constitutional restraints hindering effective optimization of resources by the federating units.“A robust engagement in and activation of sectors critical for growth and sustainable development.

“Adherence to rule-based budgetary framework which would ensure that excess revenue are appropriately invested and where utilized in accordance with established plan and due process

The Conference noted the evolutionary regulatory framework in other jurisdictions and advised that whichever framework adopted in Nigeria must ensure better collaboration, information dissemination and speed of action by the various regulatory bodies.

The Conference acknow-ledged that effective risk management is critical to banks’ achievement of financial soundness and therefore urged all financial institutions to consciously and compulsorily align their structure and business strategy to enterprise wide risk management practices.

The Conference called for the speedy implementation of the CIBN Act of 2007, especially with regard to the registration of persons working in the banking industry as this would instill professionalism and enhance discipline.

Towards this end, the support of the Central Bank of Nigeria, other regulatory bodies and the Managing Directors and Chief Executives of our corporate members was solicited.

The Conference acknow-ledged the Federal Govern-ment’s efforts in tackling corruption. However, in addition to bringing corrupt elements to justice by anti-graft agencies, government should speedily take steps to institute a process of national rebirth in order to stamp out the unwholesome act.”

Meanwhile, the Institute has concluded plans to organize a retreat for top level operators in the economy aimed at enhancing corporate governance and entrenching effective strategic management system.

The event tagged: “Effective Strategic Planning and Management for Organisa-tional Efficiency” which will take place from 28-29 October, 2009 in Lagos, will further enhance the skills of the participants towards strengthening the operating system of their respective institutions.

Participants would address topical issues such as strategic planning and management: concepts, objectives and benefits to corporate organisations; the role of the board in strategic planning and corporate governance; allocation and management of resources in strategic management: critical usccess factors; managing change for organisational eefficiency: roles of heads of strategy” among other sub-themes.

Alhaji Suleiman Barau, Deputy Governor, Central Bank of Nigeria, will deliver a Keynote Address at the event. Mr. Laoye Jaiyeola, Ag. President, CIBN, will be the Chairman of the occasion while  Dr. Uju Ogubunka, FCIB, Registrar/Chief Executive will be the Chief Host.


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