Senator Tokunbo Abiru Speaks At CIBN 60th Anniversary, Reiterates Senate’s Commitment To Comprehensively Review Extant Laws Governing Financial Ecosystem*

 *

The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, *Senator Mukhail Adetokunbo Abiru, FCA,* has reiterated the commitment of the 10th Senate to comprehensively review the extant regulations and legislations governing the nation’s financial ecosystem.


Abiru made this known in Lagos on Friday  while delivering his keynote address as the Special Guest at the grand finale of the 60th Anniversary of the Chartered Institute of Bankers of Nigeria (CIBN) and the 58th Annual Bankers Dinner.  Senator Abiru, a retired bank chief Executive, is an accomplished banker, economist and  accountant. He is also an alumnus of the CIBN.  


He said, “ As the Chairman of the Senate Committee on Banking,  Insurance, and Other Financial Institutions, I stand before  you as a partner in progress, committed to fostering an environment that allows our financial Ecosystem  (regulators & operators) to thrive in order to protect the  interests of all stakeholders. The banking industry plays a  critical role in any economy, and it is our responsibility to  nurture its growth, resilience, and sustainability.  


“Our committee is aware of the challenges facing the  Financial Ecosystem, and we are steadfast in our  commitment in driving reforms that will fortify its  foundations. The financial landscape is evolving rapidly,  driven by technological advancements, global economic  shifts, and the need for greater financial inclusion. We  recognize the imperative for our banking institutions to  adapt and embrace these changes to remain competitive  on the global stage.  


“To this end, the Senate Committee on Banking, Insurance,  and Other Financial Institutions is actively engaged in a  comprehensive review of existing regulations and  legislation governing the Financial Ecosystem. We are  collaborating with industry experts, stakeholders, and  regulatory bodies to ensure that our legal framework is not  only robust but also flexible enough to accommodate  innovation while safeguarding the stability of the financial  system.  


“Furthermore, our committee is focused on promoting  financial inclusion initiatives to bring more Nigerians into  the formal financial sector. We believe that a financially inclusive society is stronger and more prosperous, and we  are working tirelessly to create an environment that  encourages banks to reach the underserved and unbanked  segments of our population.  


“I want to assure all of us gathered here today that the  Senate Committee on Banking, Insurance, and Other  Financial Institutions is unwavering in its commitment to  driving positive reforms in the banking industry. We are  cognizant of the pivotal role that the banking sector plays  in Nigeria's economic development, and we are dedicated  to fostering an environment that encourages innovation,  competition, and inclusivity”.


The Senator also noted that the Chartered Institute of Bankers of Nigeria has been a  beacon of excellence, fostering professionalism and  innovation within the banking sector. According to him, in the last six decades, CIBN had been tireless in its efforts in upholding the highest standards of integrity and  competence among banking professionals.  


The Minister of Finance and the Coordinating Minister for the Economy, Mr. Olawale Edun and the Governor of the Central Bank of Nigeria, CBN, Dr. Olayemi Cardoso also spoke on the economic, fiscal and monetary plans of the Federal Government under the leadership of His Excellency, President Bola Ahmed Tinubu, GCFR.  


Bank Chief executives, financial experts , top government functionaries and other stakeholders attended the event. 

Comments

Post a Comment

Popular posts from this blog

More Than 2,500 Resdent Benefit From Ounje Onigbongbo Food Initiative**

Image
 ** The Executive Chairman of Onigbongbo Local Council Development Area (LCDA), Hon. Oladotun Olakanle, recently organised the "Ounje Onigbogbo Food Initiative," aimed at providing support to the residents of the Onigbogbo LCDA. During his address at the event, Hon. Oladotun Olakanle noted that this was the fifth edition of the initiative. He remarked, "We are doing this to empower our people in these challenging economic times. This situation is not exclusive to Nigeria; it is a global issue. At the grassroots level, we are contributing our efforts to assist both the federal and state governments in ensuring the well-being of our people." Hon. Olakanle also highlighted the growing number of beneficiaries, stating, "This time, we have a much larger turnout than in previous editions. Initially, we had planned for 1,500 people, but now we have approximately 2,500 in attendance. I assure you that every individual present will be attended to."  He further ment
Read more

LASTMA Strengthens Traffic Management Plan Ahead of Ember Months

Image
  The Lagos State Traffic Management Authority (LASTMA) has intensified its preparations for the Ember months, implementing a robust traffic management strategy to ensure smooth vehicular movement and public safety during the upcoming Christmas and New Year celebrations. During a strategic meeting held at LASTMA Headquarters, Special Adviser to the Governor on Transportation, Hon. Sola Giwa, called on LASTMA officers to adopt proactive measures in anticipation of the increased traffic volume and illegal roadside trading typically associated with the festive season. These challenges, he warned, could disrupt the flow of both traffic and pedestrians across Lagos. Hon. Giwa emphasized the need for a coordinated response from LASTMA personnel, stating, "Our foremost priority is ensuring the safety and convenience of all road users in Lagos. LASTMA officers must remain ever watchful and decisive in addressing illegal roadside trading and other activities that could compromise traffic f
Read more

In it's attempt to get justice, convicted businessman, Abiodun Bolarinwa, has approached an appellate court to upturn his conviction.

  Bolarinwa in a five grounds appeal, urged the court to help determine if the lower court accord him fair hearing. The Economic and Financial Crimes Commission, EFCC, following the conviction of Abiodun by Justice Oluwatoyin Taiwo of a Lagos Special Offences Court, sitting took possession of a property on 1A, Joke Ayo Street, Riverside Estate, Alagbado, Lagos. The anti graft agency also take possession of other assets in the property, including a Range Rover Sport Utility Vehicle, SUV, a black BMW car, a black Toyota Land cruiser car, and a white Toyota Hilux and handed the same property over to the victim, Mr. Bamidele Safiriyu Olusegun. Justice Taiwo had on July 8 2022 convicted and sentenced Abiodun to seven years imprisonment and ordered him to forfeit all the proceeds of the crime. Reacting to the taken of possession without due procedure, Mrs  Adetona Funke Adebowale, an octogenarian and mother of Bolarinwa, accused the EFCC, of forcefully taken possession of her family house jo
Read more