Accion Microfinance Bank MD Honoured at CIBN Investiture Ceremony

Taiwo Joda, Accion Microfinance Bank Managing Director, has called for stronger governance, wider industry inclusion and deeper regulatory attention for Nigeria’s fast growing microfinance sector following his inauguration into the Governing Council of the Chartered Institute of Bankers of Nigeria(CIBN)

Joda was formally inaugurated during the investiture ceremony of Dele Alabi as the 24th President and Chairman of Council of the institute. The ceremony was held at Oriental Hotel on Saturday and drew senior banking executives, regulators, traditional rulers and business leaders from across the country.

Read also: Accion Microfinance Bank partners GirlLearn Africa to host digital empowerment conference for women

Among dignitaries present were Adeyeye Ogunwusi, the Ooni of Ife as well as representatives of the governors of Lagos and Osun states.

Speaking shortly after his inauguration, Joda described his election into the Governing Council as both an honour and a responsibility, saying the rapid expansion of Nigeria’s microfinance banking industry now requires stronger institutional governance and industry wide collaboration.

“Very happy, but also at the same time very sober, because it’s a call to service,” he said.

Joda, a longstanding microfinance practitioner, said the sector has grown into a major financial ecosystem whose scale can no longer be treated as peripheral within the wider banking industry.

“If you look at the ecosystem today, we have 850 microfinance banks as of March 2026. The total assets are about N16.13 trillion, while shareholders’ funds stand at over N63 billion. That is a huge amount in any currency,” he said.

Read also: Accion Microfinance Bank quotes N2.02bn Commercial Paper on FMDQ Exchange 

According to him, the increasing size of the industry means regulators and stakeholders must pay closer attention to governance standards and systemic stability.

“Before such an investment becomes a systemic risk, it becomes important to draw the attention of the Chartered Institute of Bankers to it,” he said.

He noted that some microfinance banks now process transaction volumes and manage asset bases that rival those of conventional commercial banks, making deeper integration into mainstream banking conversations increasingly necessary.

“This is a time for real industry inclusion in what is happening in the banking industry. We want to drive more microfinance inclusion and also ensure there is self governance,” Joda said.

Read also: Accion Microfinance Bank gets awards, pledges to empower more businesses

He also linked the future of the industry to the ongoing recapitalisation drive of the Central Bank of Nigeria, saying shareholders’ funds in the sector could double or triple within the next two years.

“With the Central Bank of Nigeria’s intention to recapitalise the sector, I see shareholders’ funds going into the trillions. That level of awareness needs to be created and brought to the level of governance in the Chartered Institute of Bankers,” he added.

Joda said his appointment aligns with Accion Microfinance Bank’s longstanding focus on advocacy, capacity building and financial inclusion.

“Accion Microfinance Bank has always been at the forefront of advocacy, training and lifting the industry we serve,” he said.

The event also marked the formal investiture of Alabi, who used his acceptance speech to pledge responsible leadership and continuity in strengthening the banking profession.

“It is with a heart overwhelmed with gratitude and reverence to the Almighty God that I stand before you today,” Alabi said.

“The election that ushered us into stewardship as office holders and members of the Governing Council from 2026 to 2028 remains a defining milestone in the distinguished history of our noble institute.”

For Accion Microfinance Bank, the inauguration of its Managing director into the CIBN Governing Council represents both institutional recognition and a stronger platform to influence conversations around financial inclusion, ethical banking and sustainable growth within Nigeria’s evolving financial system.