BDAN board expands despite strong financial performance and advocacy efforts
By Esther Agbo
In a significant development, the Bank Directors Association of Nigeria (BDAN) has strengthened its leadership team with the appointment of two new directors following the retirement of three longstanding board members.
The association’s leadership changes coincide with a remarkable 138.9 percent surge in its total income for 2023, underscoring the effectiveness of its strategic initiatives.
At BDAN’s 27th annual general meeting, held virtually, the spotlight was on the association’s robust financial health and growing influence in the banking sector.
The outgoing directors, Umaru Kwairanga from Jaiz Bank, Funke Feyisitan-Ladimeji, Executive Director of Coronation Merchant Bank Limited, and Dayo Omolokun, Executive Director of Standard Chartered Bank Nigeria Limited, were honoured for their service.
Their successors, Jonathan Luka, Non-Executive Director of TAJ Bank Limited, and Yetunde Ogunremi, Executive Director of Rand Merchant Bank Limited, bring a wealth of experience that is expected to further strengthen BDAN’s governance.
BDAN Chairman, Mustafa Chike-Obi, attributed the association’s impressive financial results to its expanding influence and successful execution of its strategic goals.
This financial growth, he noted, reflects the strong support from member banks and stakeholders who believe in BDAN’s vision.
He said, “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.”
The Chief Executive Officer of BDAN, Adebukola Orenuga, provided a comprehensive overview of the association’s advocacy efforts over the past year. She emphasised BDAN’s commitment to continuous engagement with banks, regulators, industry stakeholders, and the government.
Orenuga pointed out that BDAN’s key strategic areas advocacy, capacity building, and research & development have been central to its mission of fostering regulatory reforms and building partnerships that drive economic growth.
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.”
Orenuga however reaffirmed BDAN’s dedication to advancing the stability and progress of Nigeria’s banking industry through meaningful collaborations and sustained advocacy.
As BDAN continues to expand its influence, the association remains committed to being a driving force in the sector’s development.
