CHARTERED INSTITUTE OF BANKERS OF NIGERIA ACT, 1990
Act · Finance
Policy date: 1990-01-01
An Act establishes the Chartered Institute of Bankers of Nigeria to set standards for banking professionals, including training and ethical conduct. It targets bankers, financial institutions, and regulators. This promotes professional competence and builds public confidence in the banking sector.
CHARTERED INSTITUTE OF BANKERS OF NIGERIA ACT, 1990
What Is This Policy?
An Act establishing the Chartered Institute of Bankers of Nigeria (CIBN) as the professional body for bankers in Nigeria, setting standards for admission, training, ethics, and professional conduct.
Who Does It Target?
Banking professionals in Nigeria Commercial banks and financial institutions CBN and banking sector regulators Universities and polytechnics offering banking programmes
What Does It Aim to Achieve?
Professionalise banking practice in Nigeria, set competency standards for bankers, promote ethical banking conduct, and build public confidence in the banking system.
Key Features
Membership Standards: Defines grades of membership (Associate, Member, Fellow) with corresponding qualification requirements. CIBN Examinations: Administers professional banking examinations required for admission to membership. Ethics Enforcement: Investigates and disciplines members for professional misconduct. Research and Publications: Promotes banking research and publishes the Journal of Banking.
Current Status
Rollout Stage: Active Coverage: Nigerian banking sector Beneficiaries: Banking consumers; professional banking community Funding: Member subscriptions; examination fees
How to Access
Hold an approved academic qualification and complete the prescribed work experience Pass CIBN professional examinations Pay annual subscription and comply with the code of professional ethics Application method: Apply for CIBN membership at https://www.cibng.org
Important Terms
CIBN membership is widely required for senior bank appointments Annual CPD is mandatory for practising members Serious ethical violations may result in expulsion from CIBN
Official Resources
Website: https://www.cibng.org Contact: Chartered Institute of Bankers of Nigeria (CIBN)
Legal Framework
The Chartered Institute of Bankers of Nigeria Act 1990 establishes CIBN as a professional regulatory body. It operates under the Central Bank of Nigeria Act 2007, the Banks and Other Financial Institutions Act 2020, and the 1999 Constitution's provisions on professional bodies. The Institute aligns with the International Banking Education and Research Association (IBEA) and the London Institute of Banking and Finance standards for banking professional certification.