Lagos: No fewer than 2,020 banking professionals were on Saturday inducted as chartered bankers by the Chartered Institute of Bankers of Nigeria (CIBN), with the institute charging them to harness the power of Artificial Intelligence (AI) to drive innovation, deepen financial inclusion, and strengthen the resilience of Nigeria’s financial system.
CIBN President Prof. Pius Olanrewaju said the ceremony in Lagos marked a defining moment for the new professionals.
Olanrewaju said the inductees were joining a prestigious community of banking professionals recognised for competence, integrity, and a commitment to ethical standards in the financial services industry.
According to him, the event’s theme, “Smarter Banking: The Power of AI in Accelerating Innovation,” reflected the growing impact of technology on global banking operations.
Olanrewaju added that AI is transforming credit risk modelling, fraud detection, and customer analytics worldwide.
He urged the new bankers to embrace emerging technologies responsibly while upholding governance, ethics, and public trust.
Olanrewaju said Nigeria’s young population and growing digital adoption offer major opportunities for AI to advance financial inclusion and risk management.
He added that high implementation costs and skill gaps still limit wider AI adoption in Nigerian banks.
He urged new chartered bankers to build technological competence and lead innovation in Nigeria’s banking ecosystem.
Presenting the keynote, the President of the FinTech Association of Nigeria, Stanley Jacob, urged banks to use AI to drive innovation and improve service in the sector.
Jacob said AI is transforming banking through fraud detection, efficiency, personalised services, and wider financial inclusion.
He added that institutions that fail to adapt to innovation risk losing relevance in the evolving industry.
Jacob, represented by National Treasurer Oluwaseun Adesanya, urged banks, fintechs, and regulators to collaborate to advance innovation and build a resilient financial ecosystem.
