CIBN Says Its Revenue Grew By 16% To N2.06bn In 2022

The Chartered Institute of Bankers of Nigeria (CIBN) has revealed that its revenue rose to N2.06 billion in the year ended December 31, 2022.

CIBN president, Ken Opara spoke at the 2023 annual general meeting (AGM) of the institute held on Saturday in Lagos.

Opara said the aforementioned figure represented an increase of 16.9 percent when compared with N1.76 billion recorded in the corresponding period of 2021.

He said despite macroeconomic headwinds in 2022, the institute’s net operating surplus also grew from N799.17 million to N838.08 million.

Opara also said total assets grew from N7.31 billion to N7.82 billion.

He attributed the improved performance recorded in the year under review to the efficient utilisation of resources and deliberate focus on revenue generation drive.

Also speaking at the event, Mojisola Bakare-Asieru, national treasurer of CIBN, praised the dexterity of the management of the institute in achieving 93 percent of the year 2022 budget of N2.216 billion.