The Institute also said that its net assets and net operating surplus rose by 7.3 per cent and 4.9 per cent to N6.66 trillion and N837.94 billion respectively in 2022.

CIBN announced this at its 2023 Annual General Meeting, held today in Lagos.

At the event, President/Chairman of Council CIBN, Mr Ken Opara said that the institute's growth in financial position was due to its efficient utilization of resources.

“I am delighted to inform you that despite the macroeconomic headwinds in 2022, the Institute recorded a modest growth in its financial position.

” The improved performance recorded in the year under review was a result of efficient utilization of resources and the deliberate focus on revenue generation drive.

“While appreciating the management of the institute for their efforts, it is important to state that the institute will remain focused and committed to the implementation of our strategic plan.”

Presenting the Financial report for 2022, the National Treasurer CIBN, Mrs Mojisola Bakare-Asieru said:”The total revenue generated for the year ended 31st December 2022 increased to N2.06 trillion from the N1.76 trillion figure recorded in 2021, resulting in an increase of 16.92 percent...

The Institute's digital strategy, according to Bakare-Asieru, has been aimed at creating new revenue streams and customer segments by digitizing its operations.

She added, ”The digitization process which has commenced would ensure that the institute repositions its brand to attract the younger generation of bankers by integrating automation into the millennial banking experience and service process.”