The Bank Directors Association of Nigeria (BDAN) has reported a 138.9% increase in total income for 2023. This was announced at its virtually held 27th yearly Annual General Meeting (AGM).
Mustafa Chike-Obi, Chairman of BDAN, also noted the retirement of three directors by rotation and the introduction of two new directors to the board, reflecting the Association’s continued growth and strategic evolution in the banking sector.
Chike-Obi noted that the impressive financial performance of the Association, which saw a 138.9% increase in total income year-on-year compared to 2022, underscored BDAN’s expanding influence and the effectiveness of its initiatives over the past year.
It was also noted that Alhaji Umaru Kwairanga, representing Jaiz Bank Plc; Mrs. Funke Fesyisitan-Ladimeji, Executive Director of Coronation Merchant Bank Limited; and Dayo Omolokun, Executive Director of Standard Chartered Bank of Nigeria Limited have been retired has directors from the board
Meanwhile, two new directors were appointed to the board. They include Jonathan Kogis Luka, Non-executive Director of TAJ Bank Limited, and Mrs. Yetunde Ogunremi, Executive Director of Rand Merchant Bank Limited.
Furthermore, Chike-Obi highlighted the Association’s continued success in advocating for member banks, noting that BDAN’s significant recognition has afforded the Association a voice in critical decision-making processes, further strengthening its role in the banking sector.
Chike-Obi also called on Managing Directors, Chief Executive Officers, and both Executive and Non-Executive Directors of banks to support BDAN’s strategic initiatives.
He said: “The Association’s total income performance saw an impressive increase of 138.9% year-on-year compared to 2022, and net assets grew by 13.4%. These significant achievements are a direct result of your unwavering support for BDAN’s strategy and vision.”
On her part, Chief Executive Officer Adebukola Orebuga provided a detailed account of the Association’s advocacy efforts over the past year.
She emphasized BDAN’s continuous engagement with banks, industry stakeholders, regulators, and various arms of government, and highlighted the Association’s three key strategies: capacity building, research, and development.
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