The Bank Directors Association of Nigeria (BDAN) (LTD/GTE) has reported a modest 2.6 percent increase in total income for the year 2024, as disclosed during its 28th Annual General Meeting (AGM) held via Zoom teleconference.
The AGM, presided over by the Association’s Chairman, Mustafa Chike-Obi, served as a strategic platform to reinforce BDAN’s commitment to sustainable growth, robust industry advocacy, and stronger collaboration across the Nigerian banking sector.
The meeting reaffirmed BDAN’s strategic vision and its resolve to intensify efforts in protecting the collective interests of its member banks, while also enhancing its policy engagement across regulatory and industry-related matters.
As part of key resolutions during the AGM, two new directors were appointed to the Association’s Board: Subulade Giwa-Amu, a Non-Executive Director of Polaris Bank Limited, and Remilekun Odunlami, a Non-Executive Director of First Bank of Nigeria Limited.
In line with BDAN’s governing structure, two serving directors — Mustafa Chike-Obi, Chairman of Fidelity Bank Plc, and Oluwayemisi Olorunshola, Chairman of Wema Bank Plc — retired by rotation and were unanimously re-elected, reflecting the Association’s continued adherence to sound corporate governance principles.
Speaking at the meeting, Chike-Obi reiterated the pivotal role of BDAN in the financial ecosystem, stating that the Association exists to champion the interests of member banks and serve as a unified voice, particularly in areas where individual institutions are unable to advocate effectively on their own.
“Our advocacy responsibility is serious and central to what we do,” Chike-Obi stated, noting the Association’s increasingly proactive approach to regulatory dialogue and its emphasis on protecting the reputation of Nigeria’s banking industry.
He called for legislative measures to shield financial institutions from the impact of unfounded and reckless public statements, which he said have the potential to undermine trust in the sector and jeopardise economic stability.
“We are considering support for legislation that would impose penalties on individuals who make careless or irresponsible statements capable of inciting panic or destabilising the financial system,” he said. “Protecting our member banks and preserving sector stability is at the core of BDAN’s mission.”
The Chairman also encouraged member institutions to proactively escalate their challenges to the Association through its Secretariat. “We are here to respond promptly to issues affecting our members. Our doors are open. We urge banks to engage us early so that our Governance and Advocacy Committee can intervene effectively,” he added.
The Chief Executive Officer of BDAN, Adebukola Orenuga, reflected on the Association’s progress, describing the 2.6 percent income increase as a mark of resilience and steady growth.
“This growth may seem modest, but it represents a stable trajectory and reinforces our commitment to long-term impact. BDAN is gearing up for greater visibility and a more influential role in sector-wide advocacy by next year,” she stated.