Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), is now a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN). He was conferred with the CIBN Honourary Fellowship award yesterday at the 2014 CIBN Investiture in Lagos, South-West, Nigeria. The award, according to CIBN, was as a result of Emefiele’s position as CBN Governor and his contribution to the banking sector in the country.

While accepting the award, Emefiele said it would serve to bolster his determination to ensure that the banking system is not only sound but also driven by high standard of corporate governance and professional ethics.

He said: “In my current position as Governor of Central Bank of Nigeria, it is indeed an icing on my cake to become a fellow of this great institute that is highly regarded for the critical role it plays in grooming, maintaining and supporting professional excellence in the banking industry in Nigeria.

“The theme of this event which is called ‘Making Nigeria a Major Destination for Foreign Direct Investment’ is both timely and appropriate for today’s global economic and geopolitical environment. In view of the fact that resources are usually less than needs, domestic savings are usually never enough to put a country on a sustainable growth path. Given this scenario countries around must compete, sometimes fierce to attract investments from abroad.

“At the Central Bank of Nigeria, our contribution to laying the foundation for a vibrant economy that attract significant Foreign Direct Investment has been anchored on promoting policies that sustain the country’s hard earned macroeconomic stability.”

Speaking on the keynote address on the topic “Making Nigeria a Major Destination for Foreign Direct Investment (FDI)” Dick Kramer, Chairman, African Capital Alliance, noted that the country has every indicator to be great. He mentioned factors like water, land, abundant natural resources, right location and ultimately people as some of the things working in the country’s favour.

Kramer however observed that “in spite the country’s potentials, some looming problems have to be addressed if Nigeria must be a major destination for foreign direct investment which include declining of oil revenue because of inability to direct the economy and the frequent change in policy.”

On his part, Lagos State Governor Babatunde Fashola (SAN) said one of the strengths of the state is to generate revenue that has been used to drive it. He acknowledged that the banks have played a pivotal role in making it a success.

In her speech, Vice Chancellor, University of Uyo, Akwa Ibom State, Prof. (Mrs.) Comfort Ekpo, stressed the need to introduce quality into the Nigerian education system.

According to her, “We need to introduce quality into education in Nigeria that is the way to develop education that we all will be proud of. Though many governments have ensured that everybody is educated, I will rather we see education as being from the womb through the walls of the school system and the interaction of people everywhere because education transit time or place.”

Other prominent bankers honoured alongside Emefiele for their contribution to the banking system include Nnamdi Nwankwo, MD/Chief Executive, Fidelity Bank; Ifie Sekibo, MD/CEO, Heritage Bank; and Emuwa Emeka, GMD/CEO, Union Bank (as Honourary Senior Member).

•Photo shows, L-R: CBN Governor Godwin Emefiele; CIBN President, Mrs. ‘Debola Osibogun; Union Bank MD/CEO Emeka Emuwa; and Fidelity Bank MD/CEO, Nnamdi Okonkwo . . . yesterday at the 2014 CIBN Fellowship Investiture held in Lagos.

Update news