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We Believe that the Future is Now; CIBN Hosts Generation Next Forum

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CEM REPORT, CORPORATE EVENTS | There was a visible incitement in the mood of the President and Chairman of Council of the Chartered Instittue of Bankers of Nigeria, Dr Ken Opara as he stood on well-lit stage and delivered the opening remarks at the Maiden Edition of the CIBN Generation Next Forum put together by the baking Institute.

It is a truly a visionary event now seriously needed to secure the productivity and prosperity of our future that is technologically driven. It is therefore rightly aimed at providing a robust platform for stakeholders to examine the criticality of the Fifth Industrial Revolution and its profound impact on the banking and finance industry especially as it affects the young generation.

The youth, bustling with vibrance converged yesterday, August 3, at the Queens Park Events Center, Victoria Island, Lagos. The main hall and the overflow were filled to capacity while virtual participants were not countable, all thrilled and motivated by the presenters and exhibitors.


The presence of the Deputy Governor of Lagos State Dr Kadiri Hamzat representing the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, Acting Governor of the Central Bank of Nigeria, Mr. Folashodun Shonubi, FCIB and other industry stakeholders, validated the theme: ‘Industry 5.0 Banking Revolution: Insights for the Next Generation’. There was a recognition of the prospective impact of the youth in next level of the Nigerian banking industry in particular and the Nigerian economy in general.

Ken Opara hinged his special focus on empowering the Nigerian Youth on the size of the young population in Nigeria which is statistically declared the largest in the world with a median age of 18.1 years of which about 70% are under 30.

“It is not controvertible that the future belongs to this segment of the population. We believe that the Future is now, as such our focus is to attract, groom, mentor, inspire and prepare this special segment for the journey ahead”; Opara said.

In elaboration, CIBN President said; “This landmark event marks a significant milestone in our relentless quest for excellence and innovative solutions within the banking and finance industry. In our pursuit of progress, we find ourselves at the cusp of a new era, one that has been termed the Fifth Industrial Revolution. Unlike its precursor, the Fifth Industrial Revolution goes beyond the boundaries of technology and efficiency-driven practices. It encompasses a profound paradigm shift that incorporates the principles of sustainability, human-centeredness, and concern for the environment.

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“The focus is no longer solely on technological transformation but on harnessing human-machine collaborations for the well-being of multiple stakeholders, including employees, customers, organisations and the society at large. According to Markets and Markets prediction, new revenue streams worth $25 trillion are emerging in the B2B economy, substituting existing ones only in this decade. As the megatrends meet industry operations, disruptions are paving the path for immense new opportunities and newer business models, presenting a multi-trillion-dollar opportunity for investors and entrepreneurs”.

Therefore, in response to the above, the event featured conspicuously inspirational and motivational career-focused speeches by more vibrant young at heart and experiential admonitions by other industry veterans.

On his part, Governor Sanwo-Olu acknowledged the fact the theme of the forum, ‘Industry 5.0 Banking Revolution: Insights for Generation Next’ could not be more timely or relevant as the nation’s teeming youth continued to search for and lay a solid foundation for a fulfilling and rewarding career in the various sectors of the economy including the banking sector.

He expressed the commitment of government to foster an enabling environment that encourages the growth and development of all the critical sectors including the banking sector in Lagos State.

“As a government, we are committed to fostering an enabling environment that encourages the growth and development of all the critical sectors including the banking sector in our state.

“Lagos, as the commercial hub of Nigeria and a leading financial center in Africa, has a unique role to play in embracing and leveraging Industry 5.0.

“Our young generation is naturally inclined towards technology and innovation, and they hold the key to unlocking the full potential of Industry 5.0. Today’s forum presents us with an invaluable opportunity to examine the criticality of this revolution and explore how it will profoundly impact the banking and finance sector, with specific focus on how it affects the young generation.”

Other speakers that spoke at the event include the father of comedy; Alibaba, Mitchell Elegbe, Founder/CEO, Interswitch; Jacob Stanley, CEO StanbicIBTC and VP FintechNGR. Others are Akin Morakinyo, Registrar/Chief Executive, CIBN; Yvonne Johnson, MD/Co-Founder, Indicina; Eizu Uwaoma, Founder & CEO, Hexavian Group; Ade Bajomo, President, FintechNGR; Nefa Etomi, Head, Expansion Strategy and Operations, Paystack, Emmanuela Tijani of Sterling Bank as well as Iyin Aboyeji, Founding Partner, Future Africa.

At the technology and innovation exhibition, talent and fantastic creations were on display including a robot created by young Nigerians

The chartered Institute of Bankers of Nigeria also used the event as an opportunity to flag off its 60th anniversary celebration with the unveiling of the anniversary logo. This is because, according to the President, they believe that the future belongs to the youth.

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