The Bank Directors Association of Nigeria (LTD/GTE) reported a remarkable 138.9 per cent increase in total income for 2023 during its 27th Annual General Meeting, held via Zoom Teleconference on August 21, 2024.
The AGM, led by Chairman Mustafa Chike-Obi, recently also saw the retirement of three directors by rotation and the introduction of two new directors to the board, reflecting the Association's continued growth and strategic evolution in the banking sector.
Chike-Obi noted that the impressive financial performance of the association, which saw a 138.9 per cent increase in total income year-on-year compared to 2022 underscores BDAN's expanding influence and the effectiveness of its initiatives over the past year.
The retired directors from the board were Alhaji Umaru Kwairanga, representing Jaiz Bank Plc; Mrs. Funke Feyisitan-Ladimeji, Executive Director of Coronation Merchant Bank Limited; and Mr. Dayo Omolokun, Executive Director of Standard Chartered Bank Nigeria Limited. Meanwhile, two new directors were appointed by rotation to the board: Mr. Jonathan Kogis Luka, Non-Executive Director of TAJ Bank Limited, and Mrs. Yetunde Ogunremi, Executive Director of Rand Merchant Bank Limited.
In his remarks, Mr. Chike-Obi highlighted the association's continued success in advocating for member Banks, noting that BDAN has achieved significant recognition as a key player in the industry. This recognition has afforded the association a voice in critical decision-making processes, further strengthening its role in the banking sector.
Chike-Obi also called on Managing Directors, Chief Executive Officers, and both Executive and Non-Executive Directors of Banks to support BDAN's strategic initiatives.
He said: "The association's total income performance saw an impressive increase of 138.9% year-on-year compared to 2022 and net assets grew by 13.4%. These significant achievements are a direct result of your unwavering support for BDAN's strategy and vision."
On her part, the Chief Executive Officer, Adebukola Orenuga, provided a detailed account of the Association's advocacy efforts over the past year. She emphasised BDAN's continuous engagement with Banks, industry stakeholders, regulators, and the different arms of government and highlighted the Association's three key strategy areas, which are advocacy, capacity building and research and development.
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She said: "Over the past year, BDAN has been at the forefront of critical advocacy efforts and discussions aimed at collaborating with industry stakeholders, regulators, the Legislature and Executive branches of government".
