Two directors join BDAN board

The Bank Directors Association of Nigeria has introduced two new directors to its board of directors following the retirement of three directors by rotation.

This is as the association also reported a 138.9 per cent increase in its total income for 2023.

This was highlighted at its 27th annual general meeting, which was held virtually recently.

The retired directors from the board were Umaru Kwairanga, representing Jaiz Bank; Executive Director of Coronation Merchant Bank Limited, Mrs Funke Feyisitan-Ladimeji and Executive Director of Standard Chartered Bank Nigeria Limited, Mr Dayo Omolokun.

The two new directors appointed by rotation to the board were the Non-Executive Director of TAJ Bank Limited, Mr Jonathan Luka, and the Executive Director of Rand Merchant Bank Limited, Mrs Yetunde Ogunremi.

Also, BDAN Chairman, Mustafa Chike-Obi, noted that the financial performance of the association was on the back of its expanding influence and the effectiveness of its initiatives over the past year.

“The association’s total income performance saw an impressive increase of 138.9 per cent year-on-year compared to 2022 and net assets grew by 13.4 per cent. These significant achievements are a direct result of your unwavering support for BDAN’s strategy and vision,” Chike-Obi told the AGM.

Chike-Obi highlighted the association’s continued success in advocating for member banks, noting that BDAN had achieved significant recognition as a key player in the industry.

On her part, the Chief Executive Officer of BDAN, 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 were advocacy, capacity building, and research & development.

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.

“Our mission has been to drive necessary regulatory reforms and foster meaningful partnerships and collaboration across key areas in the sector, which aligns perfectly with the theme of this year’s upcoming Bank Directors’ summit – Propelling Economic Growth: Leveraging Partnerships to Unlock Economic Prosperity and I encourage all key economic stakeholders to participate in this summit, which promises to be both enlightening and productive. Your engagement will be instrumental as we explore opportunities for growth and prosperity together.”

She further affirmed BDAN’s commitment to collaborating with relevant stakeholders to contribute to the stability and advancement of the Banking industry through essential collaborations and engagement, which remain at the core of the Association’s mission.