Obinna Chima
29 December 2011
The Chartered Institute of Bankers of Nigeria (CIBN) has said it had struck out the name of a former Managing Director/Chief Executive Officer of Oceanic Bank International Plc and an Honorary Fellow of the Institute, Mrs. Cecilia Ibru, from her register of members.
A statement from the body yesterday, said the decision was in furtherance, maintenance and observance of ethical standards and professionalism among practitioners of the banking profession in Nigeria.
The CIBN explained that the action was taken in line with the decision of its disciplinary tribunal on Monday, December 12, 2011, which was confirmed by the Governing Council of the Institute, at its meeting of Tuesday, December 13, 2011.
It explained that the tribunal, made up of eminent members of the banking profession with a retired Justice of the Supreme Court as an Assessor, in a unanimous decision, had granted the CIBN’s request that: “The name of Ibru be struck out of the list of members of the CIBN (as provided by S 14(2) of CIBN Act). Ibru should cease from being a member of the banking profession (as provided by S. 22(1) of CIBN Act).
” Ibru should cease to hold herself out as a member of the banking profession (as provided by S. 16 of CIBN Act). With this development the name of Dr. (Mrs.) Cecilia Ibru has been struck-out of the Register of Members of the Institute and hence, Banking Profession. She has also ceased to be a member of the banking profession and should not hold herself out as a member of the banking profession.”
The Central Bank of Nigeria (CBN) had on August 14, 2009, sacked Ibru alongside four other bank CEOs, after an examination, which revealed that the institutions they controlled had high level of non-performing loans, poor corporate governance practices, lax credit administration processes and the absence or non-adherence to banks’ credit risk management practices, amongst others.
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