The Bank Directors’ Association of Nigeria, (BDAN), has a new President.
He is Mr. Mustafa Chike-Obi, Chairman, Fidelity Bank Plc.
His appointment as BDAN President, which took effect from Monday, August 23, 2021, followed the end of the tenure of Mrs. Osaretin Demuren, the first female Chairman of Guaranty Trust Bank.
The Bank Directors’ Association of Nigeria is a non-profit organisation, limited by guarantee, which was set up to be an effective forum for representing the interest of Bank Directors in Nigeria.
The Association seeks to promote sustainable banking best practices within Banks in Nigeria and it collaborates with regulatory agencies and other stakeholders to ensure the public’s interest.
BDAN is the only umbrella body of Bank Directors in Nigeria which has created a platform for members to articulate Directors’ views and make representations to the regulatory authorities on issues that affect the individual directors and industry.
The Association is a product of the decisions reached at one of the annual Continued Education Programme (CEP) for Directors of Banks and Financial Institution in the late 1990s.
BDAN was established at the 13th Annual Bank Directors Seminar held in Abuja in June 1997 under the auspices of the industry regulators – Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation, (NDIC), with support from the Financial Institutions Training Centre, FITC.
The Association was set up with the primary aim of providing an effective forum for improving the knowledge and competence of bank Directors, in order to promote honourable practices within the Nigerian banking industry. BDAN is governed by a twelve-man Governing Council which, apart from directors of banks, includes representatives of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC) and FITC.
Commenting on his appointment as President, Mr. Chike-Obi said he would continue to pursue the mandate of the Association by working with relevant stakeholders to ensure that banks play a more active role in the country’s economy.
“As the chairman of this important Association”, he said, “I plan to represent more robustly, the interest of the banking industry and to project the image of the banking industry as an essential partner with our customers and the Nigerian economy as a whole. These are no-doubt interesting times given the COVID-19 pandemic and resulting economic challenges and I look forward to partnering with shareholders as well as customers, regulators and all other players to contribute our quota to positioning the Nigerian economy for sustainable growth and recovery”.
Mr. Chike-Obi has over 40 years experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms. He was appointed to the Board of Fidelity Bank Plc in August 2020.
Meanwhile, the Anambra State Government has congratulated Mr. Chike-Obi on his appointment as BDAN President.
In a statement signed by the State Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, the government described Mr. Chike-Obi as “a huge asset that Anambra State has given to Nigeria, Africa and indeed the banking world”.
The government noted that, “As the son of Professor Chike Obi, Africa’s foremost mathematical scientist, you have to set new records of outstanding performance and consequently lift the reputation of Anambra State and its people further”.
Chike-Obi’s appointment as BDAN President was ratified by the Forum for Banks’ Chairmen in June 2021.