The Central Bank of Nigeria has said that the country has been confirmed as a global leader in innovation in the payment system landscape.
This followed President Muhammadu Buhari’s launch of the digital currency, known as the eNaira.
The Deputy Governor (Economic Policy) at the CBN, Dr Kingsley Obiora, stated this while speaking at the 2021 Chartered Institute of Bankers of Nigeria’s Fellowship Investiture held in Lagos yesterday.
According to the CBN Deputy Governor, who was one of the 14 eminent individuals, which included the Director-General, World Trade Organisation, bestowed “Honorary Fellows” by the CIBN at the event, the launch of the eNaira was a “historic first” on Nigeria’s part as it made it the first country on the continent to introduce a Central Bank Digital Currency.
Dr Obiora, who spoke on behalf of the honourees, expressed his gratitude to the President and Council Members of the CIBN for the recognition, noting that it was not a coincidence that the event was held in the same week that the eNaira was launched, as it provided an opportunity for stakeholders in the financial sector to reflect on the core values of the CIBN itself.
He said: “I do think that this investiture is coming at a very timely moment when we have to reflect on the core values of the CIBN itself-values of integrity, of professionalism, innovation and ethics.
It is not a coincidence that earlier this week, the President launched the eNaira, scoring a historic first, and introducing Africa’s first digital currency.
He said that is not a mean feat because it positioned the country again as a global leader in innovation in the payment systems landscape.
“I believe that these core values of integrity, values of professionalism, innovation and ethics should also be in relation to excellence in all things that we do to help us contribute to the development and growth of the country. I strongly believe that these attributes can help us get to the Promised Land.”
He also urged the honourees to continue to support the CIBN, which according to him, has contributed immensely to the banking profession in Nigeria and beyond.
In his speech, the President/ Chairman of Council, CIBN, Dr Bayo Olugbemi, stated that the investiture was held to: “ Honour eminent individuals who have distinguished themselves in their chosen profession and have contributed significantly to the growth and development of the Institute, the banking industry and indeed the economy at large.”
While congratulating the total of 237 individuals, comprising the 14 Honorary Fellows, 77 Elected Fellows and 146 Honorary Senior Members, who were honoured by the institute, Olugbemi urged them to remain steadfast and committed to the tenets of honesty, trust and integrity which are the hallmark of the banking profession.
He said that the choice of the theme of this year’s Fellowship Investiture-“Nigeria’s Rising Debt Profile: Issues and Implications for Sustainable Economic Development,” stemmed from the growing concerns of Nigerians about the rising debt profile of the country and the need to educate the public on this issue as well as proffer sustainable management strategies”