BDAN records 2.6% growth in income, appoints new directors

By Babajide Komolafe

The Bank Directors Association of Nigeria (BDAN) has recorded a 2.6 per cent increase in total income for the year 2024.

BDAN Chairman, Mr. Mustafa Chike-Obi disclosed this yesterday at the   28th Annual General Meeting (AGM) of the Association held virtually.

The AGM was a strategic session that underscored the Association’s commitment to growth and enhanced advocacy in the Nigerian Banking sector. As part of the meeting’s resolutions, two new directors, Mrs. Subulade Giwa-Amu (Non-Executive Director of Polaris Bank Limited) and Mrs. Remilekun Odunlami (Non-Executive Director of First Bank of Nigeria Limited), were appointed to BDAN’s Board.  

Also, in accordance with the Association’s articles, two directors – Mr. Mustafa Chike-Obi (Chairman of Fidelity Bank Plc) and Dr. Mrs. Oluwayemisi Olorunshola, (Chairman of Wema Bank Plc), retired by rotation but were unanimously re-elected for another term, reflecting BDAN’s dedication to sound corporate governance practices.

  Chike-Obi emphasised the significance of the Association, stating that the Association exists to serve member banks and act as a collective voice, especially in areas where individual banks cannot advocate for themselves. He stated that the Association’s advocacy responsibility is serious business.

Chike-Obi, reinforced the Association’s proactive stance on industry matters, particularly its increasing focus on regulatory engagement and safeguarding the reputation of Banks. He called for legislation protecting banks from circulation of unsubstantiated and careless statements that undermine confidence in the banking sector which affects the legitimate interests of financial institutions and threatens the economy.

He said: “We are also considering supporting legislation that will impose penalties on individuals who make careless or irresponsible statements capable of inciting panic or destabilising the financial system. Protecting our member Banks and preserving the stability of the sector are at the heart of BDAN’s mission,” he added.

The Chairman further encouraged member banks to actively channel their issues or concerns to the Association’s secretariat. “We are here to swiftly address issues that impact our members. Our doors are open, we encourage the Banks to bring matters to us early so that our Governance and Advocacy Committee can intervene effectively,” he said.

BDAN CEO,   Adebukola Orenuga, shared her thoughts on the Association’s achievement during the period, stating “The 2.6 per cent growth may appear modest, but it is a testament to the resilience and steady progress of the Association. BDAN is poised for deeper impact and by next year, we expect the Association to be much more visible and influential in its advocacy role for the Banking sector”.

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