CIBN awards practice licence to 14 deserving members
The Chartered Institute of Bankers of Nigeria (CIBN) has awarded practice licence to 14 deserving members who met all the requirements for issuance of the licence.
It was gathered that the public presentation of the license was done at a two-pronged event organised by the institute, on Wednesday in Lagos.
The event has the theme, “Building a Sustainable Enterprise: The Role of Environmental, Social, and Governance (ESG).”
The President/Chairman of Council, CIBN, Dr Ken Opara, said that candidates who were granted the licence went through an extensive screening process, which in part required meeting preset requirements.
“While the Entrepreneurship Programme is aimed at sharpening the entrepreneurial skills of our professional members and empowering them to successfully run their own businesses, the public presentation of practice licence enables the holders to consult and render services in banking, finance, and allied matters to clients except for financial intermediation services.
“This year, we are proud to award the practice licence to 14 deserving members who have met all the requirements for issuance of the licence,” he said.
Opara said that the theme for the event, which was carefully chosen, gave the various factors involved in sustaining a business in the 21 st Century.
According to him, sustainable enterprise helps to recognise that success is not measured solely by financial gains but also by the positive impact made in one’s environment, society, and during corporate governance.
The CIBN boss stressed that considerations for the environment, society, and good governance (ESG) was fundamental to how businesses operate in the modern world.
He said, “In recent times, environmental, social, and governance principles have become the bedrock of modern business practices.
“Among other things, it helps businesses identify and manage social risks that can impact their operations and reputation.
“It also gives businesses a competitive advantage, this is because investors and other key stakeholders are more likely to prioritise support for organisations that have displayed a commitment towards maintaining ESG standards.’’
Consultant, Social Safeguards, World Bank Group, Dr Bankole Allibay, urged every organisation to adopt ESG in business operations.
According to him, every business, to varying degrees, has environmental and social impact on the society and their environment as well as risks associated with their operations.
“To manage these risks and impacts, every organisation needs to adopt ESG in their business operations.
“The three major pillars of ESG are key factors that affect an organisation’s reputation and long term success.”
