*Rakes in N439.6m from corporate subscriptions, levies
The Ethics and Professionalism Division, of the Chartered Institute of Bankers of Nigeria (CIBN) says its received 136 petitions with claims that amounted to N27.6 billion from bank customers in 2016.
The institute disclosed this in its 2016 Annual Reports and Accounts released on Saturday in Lagos. It said it fully resolved 79 cases out of the 136 petitions, which would have translated to a total refund of about N3 billion.
The CIBN equally disclosed that it raised N439.58 million as annual development fund and corporate subscription during the year under review, noting that the figure was lower than the expected N443.38 million in 2016.
It said that the payments were received mostly in the first quarter of the year, thereby increasing its portfolio of investible funds.
A breakdown of the subscription and levies received indicate that regulators and commercial banks paid N400 million, while development banks paid N6 million. Mortgage banks remitted N1.2 million and micro-finance banks N2.2 million.
The bankers’ body noted that the its individual membership grew from 118,802 in 2015 to 122,680 in 2016, representing an increase of 3,893 new members or a 3.36 percent into its various categories including honorary fellows and seniors as well as students and ordinary members.
On corporate membership, the institute said it registered additional 16 micro-finance banks in 2016, bringing total micro-finance banks registered to 363 out of the 979 licensed by the Central Banks of Nigeria
By Business a.m. live staff
Frontpage December 17, 2019
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