Women bankers record N18.8m surplus

The Association of Professional Women Bankers of Nigeria (APWB) has reported a financial surplus of N18.8 million for the 2024 financial year, marking a significant leap from the N2.9 million surplus recorded in 2023.

The announcement was made during the association’s Annual General Meeting, which was held virtually in Lagos, and detailed in a statement released on Monday.

According to Kehinde Olomojobi, the association’s Treasurer, APWB generated total revenue of N55.9 million, with sponsorship income accounting for N45.9 million of that figure. She credited the improved financial performance to disciplined expense management and a policy of spending strictly within available means.

“Through the dedication of our members, timely subscription payments, and effective committee work, we have significantly improved our financial standing. This enables APWB to do more to support women bankers and broaden our initiatives,” Olomojobi said.

The association’s balance sheet also indicated a healthy liquidity position, strengthened by investments across Nigeria’s banking, insurance, and energy sectors, which appreciated by an impressive 109 per cent in value. This reflects APWB’s value-driven investment strategy and long-term focus on financial stability.

Overcoming Challenges, Embracing Opportunities

APWB Chairperson, Funke Ladimeji, acknowledged the hurdles faced during the year, including inflationary pressures, geopolitical instability, and widespread economic disruptions—both locally and globally.

“Despite these challenges, the association demonstrated remarkable resilience and adaptability,” Ladimeji said.

She also highlighted the Central Bank of Nigeria’s recapitalisation mandate, which requires banks to strengthen their capital base by 2026, noting its influence on the competitive landscape in the banking sector alongside rising inflation and foreign exchange reforms.

Strategic Focus Areas for 2025

Looking ahead, Ladimeji revealed that APWB will focus on:

• Deepening its mentoring framework to guide younger women in the banking profession.

• Expanding the “Catch Them Young” financial literacy programme, which targets secondary and tertiary school students.

• Publishing a report on the lived experiences of female bankers in Nigeria’s evolving financial industry.

• Advocating for institutional reforms that promote gender equity and enhance leadership opportunities for women across the sector.

As her tenure draws to a close, Ladimeji expressed deep appreciation to the executive committee, association members, sponsors, mentors, and partners for their continued support.

“I urge every member to engage in the forthcoming elections and rally behind the next leadership team, so we can continue building on the legacy we’ve created,” she added.