The Bank Directors Association of Nigeria (BDAN) has announced a 2.6% increase in total income for the year 2024, reflecting the Association’s continued financial stability and its growing role in promoting good governance and advocacy within the Nigerian banking sector.
The disclosure was made by BDAN Chairman, Mustafa Chike-Obi, during the Association’s 28th Annual General Meeting (AGM) held virtually. The AGM served as a strategic platform to reinforce BDAN’s mission of supporting member banks and safeguarding the sector’s reputation amid evolving regulatory and economic challenges.
Board Appointments and Re-elections
As part of the AGM proceedings, BDAN confirmed the appointment of two new directors to its Board:
- Subulade Giwa-Amu, Non-Executive Director, Polaris Bank Limited
- Remilekun Odunlami, Non-Executive Director, First Bank of Nigeria Limited
In line with BDAN’s governing framework, Mustafa Chike-Obi (Chairman of Fidelity Bank Plc) and Oluwayemisi Olorunshola (Chairman of Wema Bank Plc) retired by rotation but were unanimously re-elected to serve another term a move that underscores the Association’s commitment to robust corporate governance and leadership continuity.
Advocacy at the Core of BDAN’s Mission
During his remarks, Chike-Obi reiterated BDAN’s vital role as the unified voice of bank directors across Nigeria, particularly in situations where individual banks are unable to advocate independently.
“Our advocacy mandate is not symbolic it’s serious business. We exist to represent our members collectively, especially when it comes to engagement with regulators, government bodies, and the public,” he stated.
He also stressed the need for protective legislation to defend the banking industry against misinformation and unfounded public commentary that could erode trust and stability.
“We are exploring support for laws that penalize the spread of careless or irresponsible statements capable of inciting panic or destabilising the financial system. Preserving confidence in our banks and protecting the financial ecosystem is essential,” Chike-Obi said.
Open Engagement with Members
The BDAN Chairman called on member institutions to utilize the Association’s Secretariat more proactively to resolve challenges early.
“Our doors are open. We encourage banks to bring issues to us promptly so our Governance and Advocacy Committee can step in effectively. Early intervention is key,” he added.
CEO Projects Greater Visibility in 2025
Also speaking at the AGM, BDAN Chief Executive Officer, Adebukola Orenuga, described the modest 2.6% income growth as a symbol of resilience and sustainability, despite a challenging operating environment.
“The growth may appear modest, but it reflects the steady momentum we are building. BDAN is positioned for deeper impact. By next year, we expect to be more visible, more influential, and even more effective in championing the interests of Nigeria’s banking sector,” she said.
