Banks chief audit executives search lenders collaboration on cybersecurity

Banks chief audit executives search lenders collaboration on cybersecurity

… Re-elects Akamadu as chairman

The Affiliation of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has re-elected Prince Akamadu as chairman and emphasised the necessity for synergy amongst numerous departments inside banks.

They advocate for the institution of an assurance group comprising info safety, inner audit, inner management/techniques management, compliance, and danger administration departments. This collaboration goals to facilitate common sharing of insights and monitoring of cybersecurity-related initiatives.

Learn additionally: ACAEBIN trains internal auditors on report writing, communications

This advice was highlighted within the communiqué issued on the conclusion of ACAEBIN’s annual normal assembly and retreat held in Abuja. Themed “The Function of the Inside Auditor in Selling Stability within the Monetary Companies Sector and Nationwide Financial Progress,” the week-long occasion introduced collectively members and stakeholders from the banking trade.

Discussions centred on the challenges and alternatives dealing with the sector and the broader financial system, in addition to the Central Financial institution of Nigeria’s efforts to stimulate financial progress in alignment with the President’s mandate.

Throughout the convention, Prince Akamadu, Chairman of ACAEBIN, underscored the relevance of the chosen theme to the present panorama of the banking trade and the financial system. He emphasised the trade’s pivotal position amidst financial challenges and harassed the significance of proactive engagement by members, positioned because the third line of protection (the Inside Audit Perform). Their proactive strategy goals to assist the Central Financial institution of Nigeria’s initiatives in addressing the prevailing challenges inside the monetary sector.

For us to proceed to play our half as valued stakeholders, it’s pertinent that we take a essential look into the long run and equip ourselves with these essential expertise and sources that will allow us to carry out our features effectively, not simply as gatekeepers but additionally as valued advisors to our organisations and the trade at massive”.

Prince Akamadu additional acknowledged that the position of the banking sector was essential within the Nigerian financial system, including that the retreat was a part of the measures by the Affiliation to contribute to the dialogue on methods of addressing the overseas alternate challenges within the nation. Akamadu additional famous that banks aren’t resting on their oars to curb fraudulent actions and that bettering the Know Your Buyer mechanism was one of many technique of lowering incidences of fraud to the barest minimal.

Prince Akamadu and different Govt Committee members had been re-elected for one more two-year time period to pilot the affairs of the Affiliation. In his acceptance speech, he thanked his colleagues for the arrogance reposed on him and different members of the Govt. He pledged to proceed to strengthen collaboration with different stakeholders and the regulatory companies within the collective effort to sanitize the banking system and enhance the financial system of the nation at massive.

Alongside the chairman are Aina Amah, assuming the position of 1st Vice Chairman, and Mogbitse Atsagbede as 2nd Vice Chairman, promising a dynamic management crew poised to drive significant change.

Ugochi Osinigwe takes on the essential position of Treasurer, making certain prudent monetary administration inside the group. In the meantime, Olusemore Adegbola steps into the place of Inside Auditor, tasked with sustaining transparency and accountability in ACAEBIN’s operations.

The Analysis & Publication Sub-committee can be led by Olusegun Famoriyo, whereas Femi Fatobi will spearhead the Cost & Methods Sub-committee, underscoring ACAEBIN’s dedication to staying abreast of trade developments and fostering innovation.

Finishing the Govt Committee are Adeola Awe and Rotimi Omotayo, serving as Ex-officio I and Ex-officio II, respectively, bringing worthwhile insights and views to the desk.

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