BY EMMA UJAH

The International Finance Corporation, IFC, has agreed to work with the Chartered Institute of Bankers of Nigeria, CIBN, towards improving corporate governance in the nation’s banking sector.

Addressing the 6th Annual Conference of the Institute in Abuja, the President of the Institute, Mr. Segun Aina, that the institute was determined to improve the performance of Nigerian banks and would work with the IFC towards building capacity among bankers to realize its objectives.

His words, “I am happy to announce that one of the results of our recent discussions with reputable national and international organisations is that the IFC has expressed its willingness to help enhance corporate governance in the banking sector.

“The Institute had also  interacted with and conducted benchmarking trips to various high ranking professional banking Institutes in Europe, Asia and North America in furtherance of its global best practice goal. Outcomes of theses engagements are being strategically rolled out and it includes new professional banking examinations structure, introduction of new certification programmes, technology-driven flexible and convenient learning and examination process and so on”.

The CIBN boss said that organization would continue to play a key role in the Global Banking Education Standards Board (GBEStB), expected to be launch in 2013 during the World Congress of Banking Institutes slated for Kenya.

He said that other steps were being taken by the organization to enable banks in Nigeria play their roles as catalysts for economic development, especially in sector of the economy where the nation’s full potentials have not been realised.

Mr. Aina added that the conference was an opportunity for operators in the sector to exchange ideas on how to better provide services that have the ca[pacity to improve the quality of lives of Nigerians and Africans, in general.

According to him, “it is my firm belief that this conference would provide a unique opportunity for players and service providers in the financial services industry in Africa to critically explore, share experiences and identify strategies to be pursued in ensuring that financial services effectively play its expected roles in the transformation of the African economy”.