Former CIBN President Launches NGO To Promote Finance Industry

A Non-Governmental Organisation, Consumer Awareness and Financial Enlightenment Initiative (CAFEi), is to promote initiatives that will spur growth of the banking and finance industry.

Otunba Debola Osibogun, CAFEi’s President and former President, Chartered Institute of Bankers (CIBN), made the pledge in a statement on Wednesday in Lagos.

Osibogun said that CAFEi had sought to aid consumers in making safe, accurate and informed decisions on goods and services in all facets, including the banking and finance industry.

He said that the NGO also focused on research, enlightenment and advocacy on consumer protection in the financial industry.

“Having spent 35 years in the banking and finance industry, a couple of issues were identified to have drawn back the industry’s growth as well as its financial inclusion levels across the country.

“This made it expedient for me to establish an institution that would not just address these gaps, but push the industry forward in leaps and bounds.

“This is my way of giving back to the society and indeed what CAFEi stands for,” he said.

Osibogun said that one of the major successes of the NGO in its three years of operation was its advocacy with the Central Bank of Nigeria (CBN) to mop up tattered naira notes in circulation.

“This advocacy contributed to the Central Bank’s Clean Note Initiative which was recently launched in Lagos.

“CAFEi has also amongst many of its advocacy efforts solicited for financial literacy to be Included in the primary school curriculum by engaging the Nigerian Educational Research and Developmental Council,” he said.

Osibogun said that the official launch of CAFEi would hold on July 11 in Lagos.

According to Osibogun, Mrs Ibukun Awosika, Chairman, First Bank of Nigeria Ltd, Sir Olu Okeowo, Chairman, Gibraltar Construction and Mr Kofo Alada, the Director, Consumer Protection, Central Bank of Nigeria would be among notable speakers at the event.

He said that CAFEi had distinguished itself with reputable personalities on its advisory board among who are – Dr Biodun Adedipe, Dr Segun Aina, Mojisola Bakare, Wura Abiola, Abiodun Adewodu, Folake Ani-Mumuney, Seye Awojobi and Kemi Onabanjo. (NAN)