World Conference of Banking Institutes` `ll deepens financial literacy – CIBN official

Prof. Segun Ajibola, President, the Chartered Institute of Bankers of Nigeria (CIBN), says the 22nd World Conference of Banking Institutes (WCBI) will strengthen financial literacy.

Ajibola made the assertion at a news conference on the forthcoming of WCBI holding in Lagos from April 24 to 28.

He said that the conference would play cardinal role in the fulfilment of the Financial System Strategy 2020 (FSS 2020), a programme meant to deepen the financial literacy in the country.

The CIBN president said the institute would ensure that by 2020, the number of financial illiterates in Nigeria would have been reduced, irrespective of whether they were in the rural or urban areas.

He said, “FSS 2020 is rethinking the future of banking and finance.

“What should be happening and where should people be by 2020 as far as financial literacy is concerned.”

Ajibola said that the conference theme is entitled: “Re-thinking the Future of Banking and Finance and Lifelong Learning.”

He said that the theme was aimed at addressing the issues of financial strategies and the likely happenings in the immediate and in the long-run.

“The objective of the conference is to review and keep abreast of challenges in the domestic and global financial system,’’
Ajibola said.

The CIBN chief said that the conference would also underscore the crucial role played by the banking and financial services sector in the global economy.

He listed others to include exploring management issues in the financial services sector and its impact on national and global economies.

Ajibola said that the conference would allow over 750 participants from all continents of the world to understand the impact of technology and globalisation on the financial service.

“We want to reflate our economy and attract investments in the country.

“The conference will provide a veritable platform for the country to showcase to the entire world its rich cultural heritage and investment potential,” he said.

The CIBN president also said that the conference was a biennial global forum that would bring together professionals from the financial services sector and stakeholders across the global.

He said that they would discuss pressing issues facing the financial industry.

Ajibola said that the Global Banking Standards Board (GBEStB) would be launched at the conference, being the first in West Africa.

Ajibola said that hosting of the conference was timely considering the fact that the country was in search of viable alternatives toward repositioning the Nigeria economy.

He said, “We want to reflate our economy and attract investments to the country.”

Ajibola said that Gov. Akinwunmi Ambode of Lagos State, had adopted the conference to be part of the state’s activities to celebrate 50 years of the creation of Lagos State.

The Chairman, Organising Committee, Dr Segun Aina, said that CIBN commenced the journey about four years ago.

Aina said it was in 2013 that Nigerian delegation to the World conference in Kenya proposed to host it and the Governing Council approved that CIBN should bid to host the 2017 edition.