THE CHARTERED Institute of
Bankers of Nigeria (CIBN) has elected
119 bankers, academics, consultants,
civil servants among others, as
Fellows of the Institute.
Speaking during the 2017
Feloowship Investiture of the
Institute in Lagos, CIBN President/
Chairman of Council, Segun Ajibola,
described the awardees as seasoned
individuals, who have passed
through the Institute’s prescribed
examinations and have been tested
for years in their various capacities to
make them deserving of election into
the Fellowship status of ‘our great
He said a total of 62 top executives in
the banking industry, other financial
institutions and the academics were
also awarded Honorary Senior
Members of CIBN (HCIB).
“I must at this point commend the
Institute’s Board of Fellows ably
led by the first Vice President, Uche
Olowu, for a job well done aimed
at ensuring that only professionals,
who have demonstrated integrity and
character in their various vocational
callings are elected into this cadre of
the Institute,” Ajibola said.
Continuing, he said: “I am
particularly delighted this morning
to have in our midst Amine Mati,
Senior Resident Representative &
Mission Chief for Nigeria, African
Department, International Monetary
Fund (IMF) as the guest speaker on
the very topical theme of this year’s
Investiture – Coherent Set of Policies
for Greater Exchange Rate Flexibility”.
Ajibola said while Nigeria as a
country has experimented with
different exchange rate regimes,
opinions are still polarised among
economic experts on the best policy
option in the management of the
country’s foreign exchange.
“Principally, there are two extremes
of exchange rate regimes – fixed and
floating – with different shades of
combination. The choice of exchange
rate regime depends on a country’s
level of development and the policies
governing the monetary and financial
fundamentals of such economy.
Most developing economies tend to
adopt fixed exchange rate regimes
in order to build confidence in their
economic policies whereas the more
advanced ones lean towards a flexible
regime as they become more active in
international financial markets,”he

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