Nigeria Business & Finance Updates

CIBN expresses commitment to entrepreneurship development

The Chartered Institute of Bankers of Nigeria says it is committed to building capacity for entrepreneurs in the country.

The President, CIBN, Dr Uche Olowu, spoke during the institute’s 2019 entrepreneurship development programme and public presentation of practice licences in Lagos.

He said, “This innovative programme was initiated to enable members of our revered institute to practise and utilise their wealth of experience independently servicing the banks and allied industries.

“The licence empowers the holder to consult and render services relating to banking, finance and allied matters except receiving or accepting deposit from the public.”

Noting that the rate of unemployment in Nigeria was on the increase, he said it was disheartening that despite this knowledge, entrepreneurship development had not been aggressively pursued in the country.

He congratulated members who were presented with the practice licences.

While making a presentation on the theme, ‘Entrepreneurship for inclusive growth: Opportunities and sustainability strategies,’ the Managing Director, Bank of Industry, Mr Olukayode Pitan, said the bank disbursed N26bn to female entrepreneurs in 18 months.

He said, “For example, in 2015, the BoI established a gender-business desk to cater specifically for female entrepreneurs. In the last 18 months alone, the bank has disbursed loans in excess of N26bn to over 400 women-led enterprises with the potential to grow and create jobs that will contribute to economic development.

“In addition to financial support, the gender desk also provides much needed business advisory and capacity building services, leveraging our strategic partnerships with over 300 business development service providers nationwide.”

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Another way in which the bank promoted female gender equality was through its strategic partnerships, he said.culled from

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