The Bank Directors Association of Nigeria has restated its commitment to advocating for the banking sector to ensure its stability.
This commitment was expressed at its 28th Annual General Meeting held virtually on Tuesday.
During the AGM, it was revealed that the association recorded a marginal increase of 2.6 per cent in total income for the year 2024.
The BDAN chairman, Mr Mustafa Chike-Obi, who presided over the AGM emphasised the importance of the association, stating that the association exists to serve member banks and act as a collective voice, especially in areas where individual banks cannot advocate for themselves.
Chike-Obi reinforced the association’s proactive stance on industry matters, particularly its increasing focus on regulatory engagement and safeguarding the reputation of banks. He called for legislation protecting banks from the circulation of unsubstantiated and careless statements that undermine confidence in the banking sector, which affects the legitimate interests of financial institutions and threatens the economy.
“We are also considering supporting legislation that will impose penalties on individuals who make careless or irresponsible statements capable of inciting panic or destabilising the financial system. “Protecting our member banks and preserving the stability of the sector are at the heart of BDAN’s mission,” he said.
The Chairman further encouraged member banks to actively channel their issues or concerns to the association’s secretariat. “We are here to swiftly address issues that impact our members. Our doors are open; we encourage the banks to bring matters to us early so that our Governance and Advocacy Committee can intervene effectively,” he said.
As part of the meeting’s resolutions, two new directors, Mrs Subulade Giwa-Amu (Non-Executive Director of Polaris Bank Limited) and Mrs Remilekun Odunlami (Non-Executive Director of First Bank of Nigeria Limited), were appointed to BDAN’s Board.
Also, under the Association’s articles, two directors, Mr Mustafa Chike-Obi (Chairman of Fidelity Bank Plc) and Dr Mrs Oluwayemisi Olorunshola (Chairman of Wema Bank Plc), retired by rotation but were unanimously re-elected for another term.
The Chief Executive Officer, Adebukola Orenuga, speaking on the performance of the association in 2024, said, “The 2.6 per cent growth may appear modest, but it is a testament to the resilience and steady progress of the Association. BDAN is poised for deeper impact, and by next year, we expect the association to be much more visible and influential in its advocacy role for the banking sector.”