The Chartered Institute of Bankers of Nigeria has accentuated the input its annual Banking and Finance have had on the economy through economic policy instigated by resolutions at past editions of the economic gathering.
The President and Chairman of Council of the CIBN, Pro. Pius Deji Olanrewaju made the bold statement while delivering his welcome address at the just concluded 18th Annual Banking and Finance Conference.
“Distinguished guests, let me state upfront that our Conference is a launchpad for impactful decisions, not just a space for dialogue”; Pro. Olanrewaju said.
The conference which held from September 9–10, 2025 at the Transcorp Hilton, Abuja, was themed: “The New Economic Playbook: The Intersection of Banking, Policy, And Technology”
CIBN President went further to buttress his declaration using outcome from 2024 conference highlight some of the policies that have been influenced by issues that occupied discussions at that conference.
“At last year’s Conference, we committed ourselves to deepening financial inclusion, export diversification, unlocking private-sector capital and recommended the need to address the multiplicity of taxes, amongst other resolutions. I am thrilled to report that our collective efforts with relevant stakeholders have yielded significant progress in many areas”; He said.
CIBN President asserted that:
- On the need for policies that promote equitable access to financial services:
- Since 2024, 16 listed banks have raised more than ₦2.5 trillion in fresh capital to strengthen their balance sheets.
- Net domestic credit to the private sector has risen to over ₦82 trillion this year, supporting businesses and job creation.
- July 2025 saw the launch of the National Credit Guarantee Scheme to de-risk SME lending.
- Today, there are more than 500,000 agent banking outlets across the country, serving over 40 million Nigerians.
- Whilst Export Diversification is a work in progress, it is worthy of note that we are not where we were last year. Nigeria’s non-oil export basket expanded to 236 products in the first half of 2025, up from 202 the previous year, generating $3.23 billion in revenue, a 19.6% year-on-year increase.
- In addressing the multiplicity of taxes, President Bola Ahmed Tinubu, on 26th June 2025, signed the four (4) Tax Reform Bills into law, thereby consolidating over 100 tax-collecting agencies into a streamlined Nigeria Revenue Service, effective January 2026.
The above animate the drive of CIBN in its annual conferences which is to generate innovative ideas that effect inclusive growth.
THE FULL SPEECH
WELCOME REMARKS DELIVERED BY PROF. PIUS DEJI OLANREWAJU, Ph.D, FCIB, PRESIDENT/ CHAIRMAN OF COUNCIL, THE CHARTERED INSTITUTE OF BANKERS OF NIGERIA (CIBN) AT THE 18TH ANNUAL BANKING AND FINANCE CONFERENCE WITH THE THEME: “THE NEW ECONOMIC PLAYBOOK: THE INTERSECTION OF BANKING, POLICY, AND TECHNOLOGY” HELD AT TRANSCORP HILTON, ABUJA, SEPTEMBER 9–10, 2025,
Protocol
Your Excellencies, Distinguished Guests, Ladies and Gentlemen, it is my distinct honour to welcome you warmly to the 18th CIBN Annual Banking and Finance Conference. We sincerely thank you all for taking the time out of your busy schedules to grace this occasion with your esteemed presence.
Distinguished guests, let me state upfront that our Conference is a launchpad for impactful decisions, not just a space for dialogue. At last year’s Conference, we committed ourselves to deepening financial inclusion, export diversification, unlocking private-sector capital and recommended the need to address the multiplicity of taxes, amongst other resolutions. I am thrilled to report that our collective efforts with relevant stakeholders have yielded significant progress in many areas. Permit me to mention but a few as follows:
- On the need for policies that promote equitable access to financial services:
- Since 2024, 16 listed banks have raised more than ₦2.5 trillion in fresh capital to strengthen their balance sheets.
- Net domestic credit to the private sector has risen to over ₦82 trillion this year, supporting businesses and job creation.
- July 2025 saw the launch of the National Credit Guarantee Scheme to de-risk SME lending.
- Today, there are more than 500,000 agent banking outlets across the country, serving over 40 million Nigerians.
- Whilst Export Diversification is a work in progress, it is worthy of note that we are not where we were last year. Nigeria’s non-oil export basket expanded to 236 products in the first half of 2025, up from 202 the previous year, generating $3.23 billion in revenue, a 19.6% year-on-year increase.
- In addressing the multiplicity of taxes, President Bola Ahmed Tinubu, on 26th June 2025, signed the four (4) Tax Reform Bills into law, thereby consolidating over 100 tax-collecting agencies into a streamlined Nigeria Revenue Service, effective January 2026. These new laws portend a new lease of life, with a lot of opportunities inherent in it for all and sundry.
Our discussions have therefore yielded tangible results, influencing policy, shaping practice, and contributing to economic growth, a testament to the power of collaborative dialogue.
Distinguished Ladies and Gentlemen, this year’s theme, “The New Economic Playbook: The Intersection of Banking, Policy, and Technology,” is not a figment of imagination. As Dr. Akinwunmi Adesina, FCIB, the immediate past President of the African Development Bank, once asserted that “Africa’s growth will be driven not by resources alone, but by ideas, partnerships, and innovation.” That is precisely the spirit of this conference. Our task is to curate a new playbook, one that turns bold ideas into bankable realities, strengthens partnerships across public and private sectors, and channels innovation to unlock inclusive growth for Nigeria and Africa.
Banking and Finance remain the engine of growth of our economy, the channel through which savings are turned into investments, and capital flows to households, businesses, and governments. Without a strong and innovative banking and finance sector, our economy cannot grow fast enough to lift millions out of poverty and achieve shared prosperity.
Policy provides the compass, the clear rules, stable macroeconomic conditions, and forward-looking regulations that give direction and confidence to markets.
In today’s world, technology is the accelerator and driver of innovation and change. It determines how far and how fast we can go. From artificial intelligence streamlining operations and driving efficiency, to fintech expanding access to financial services, to digital currencies redefining transactions, technology is transforming finance as we can all see.
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Esteemed audience, our current context underscores the urgency of this conversation. According to the IMF, global growth is projected at 3.0% in 2025, while Sub-Saharan Africa is expected to grow at 4.0%. However, Nigeria’s economic indicators present a mixed picture: while our GDP grew by 3.13% in the first quarter of this year, inflation remains a challenge at 21.88% as of July. Although inflation has eased to a 30-month low, it remains relatively high, eroding purchasing power and widening inequality. These numbers indicate that the old playbook will not suffice. We need a new, bold, inclusive, and innovative one.
One of the most urgent tasks before us is to understand where Nigeria truly stands today. The economy, like the elephant in the ancient parable, is vast and complex. Depending on where you stand, you may see it differently, whether through the eyes of a policymaker, a banker, a technologist, a business owner, an innovator or an everyday citizen. Each perspective is valid, but partial. What we need is a shared playbook that brings the pieces together into one big picture. That is the promise of a New Economic Playbook.
Before May 2023, Nigeria grappled with several challenges, including persistently rising inflation, multiple exchange rates, unmet FX demand, and shrinking foreign reserves. Since then, reforms have unified exchange rates, stabilised reserves, improved the current account, and restored fiscal discipline. Furthermore, debt service is now below revenue, inflation is easing, and interest rates are moderating as productive capacity expands.
Of course, these reforms are not experienced in the same way by everyone. For some, they are seen through the lens of immediate hardship, for others, through the promise of longer-term stability. All views are valid. But what the New Economic Playbook offers is a way to place these pieces side by side so that instead of weighing competing perspectives, we begin to see a fuller picture of where Nigeria is heading.
Distinguished ladies and gentlemen, the good news is that our industry is well-positioned to provide that new playbook, and the numbers clearly indicate this. For example, Nigeria’s banking sector posted significant growth in 2024. According to the State of Enterprise (SOE) Report 2025, total assets surged to ₦170.02 trillion, marking a 39.6% year-on-year increase from ₦121.8 trillion in 2023. Likewise, Nigeria’s fintech ecosystem attracted more than $1.2 billion in funding between 2019 and 2023 (Partech, 2024), positioning us as Africa’s leader in digital finance. These are not just encouraging figures; they are signals of potential. To unlock that potential fully, however, banking, policy, and technology must converge, not working in silos, but in collaboration.
Over the next two days, we will interrogate these key points further in depth. In our business sessions, we will explore how to unlock Nigeria’s economic potential through finance, how to strengthen our resilience against global shocks through improved risk management and compliance, and how to chart a clear strategic direction for financial institutions in this new age of artificial intelligence.
Distinguished Ladies and Gentlemen, when I assumed office as the 23rd President of our esteemed Institute, we unveiled the LEGACY Agenda, a blueprint anchored on six pillars focused on leaving a legacy of excellence and professionalism in banking. The agenda has remained our guiding compass. The Chartered Institute of Bankers of Nigeria is resolute and determined to continue to uphold professionalism and support the economy through led capacity building initiatives, research, and advocacy.
Esteemed audience, I cannot end this speech without recognising the team behind the conference and the hard work they put in to make it a success. I thank the Consultative Committee, ably chaired by Mrs. Miriam Olusanya, FCIB, Managing Director, Guaranty Trust Bank, with the support of Mr. Wole Adeniyi, FCIB, Managing Director, Stanbic IBTC, and Mrs. Halima Buba, FCIB, MD/CEO, Suntrust Bank, for their tireless efforts in putting together this world-class event. I through you appreciate other esteemed members of the committee, including my indefatigable 2nd Vice President, Mrs Mojisola Asieru-Sweet, FCIB, and Hajia Riskat Ahmed FCIB, the MD, Aso Savings and Loans Limited.
May I also appreciate all the MD/CEOs of banks (Body of Banks’ CEOs), ably led by Mr. Oliver Alawuba FCIB, for sponsoring this programme. I also appreciate other esteemed sponsors. Let me specially appreciate our esteemed past presidents, may I humbly request they all stand up for special recognition?. In the same vein, I like to appreciate members of my Legacy Team (the Office Holder, Council members, and EXCO of CIBN).
Once again, Your Excellencies, ladies and gentlemen, I warmly welcome you to the 18th CIBN Annual Banking and Finance Conference, where the new economic playbook is not written by governments or markets alone, but written by all of us. As Nelson Mandela reminded us, ‘Action without vision is only passing time, vision without action is merely daydreaming, but vision with action can change the world.’ Let us act together with focus, I wish us engaging and impactful deliberations.
Thank you, and God bless the Federal Republic of Nigeria!
Professor Pius Olanrewaju, PhD, FCIB
President/Chairman of Council
The Chartered Institute of Bankers of Nigeria
September 9-10, 2025
