Grit, glamour shine through rain as BAFI Awards holds

The twelfth edition of the Banks and other Financial Institutions (BAFI) Awards brought together awardees, attendees, and honoured guests in a remarkable display of resilience and celebration. Braving a relentless downpour and a daunting traffic snarl, they wound their way toward the Lagos Continental Hotel on Victoria Island, turning what might have been a typical Friday night into an unforgettable evening.

As the rain hammered down at precisely 6 pm, right when the event was set to begin on October 25, 2024, Lagos’s infamous traffic crawled to a near standstill.

With blocked drains spilling onto roads and the hustle of rush hour in full force, a typical thirty-minute journey stretched agonisingly to hours. But the allure of the evening’s promise—honouring excellence in Nigeria’s financial sector—drove everyone forward, navigating flooded streets and gridlock with unflinching resolve.

Inside the auditorium, an air of anticipation swelled as the rain-soaked guests settled in. The electric beat of Alter-Reflective Beats (ARB), a modern African music band, had arrived well before the deluge, and as guests trickled in, the band filled the space with a lively mix of tunes. Their music, a blend of nostalgia and fresh energy, set a tone that both soothed and invigorated, a perfect remedy for the storm’s frenzy outside.

By 9 pm, the awards presentation began, honouring 30 of the country’s most distinguished financial institutions—commercial, merchant, investment, and microfinance banks, as well as insurance firms, trustees, and capital market infrastructure providers. As awardees took the stage, the room buzzed with pride and camaraderie, an homage to the resilience and strength of Nigeria’s financial backbone. Forty-four awards were presented.

“At BusinessDay, we recognise that the financial sector is the backbone of economic development. Tonight is a celebration of the remarkable impact our banks, financial institutions, and service providers have on the lives of Nigerians,” said Frank Aigbogun, publisher of BusinessDay Media Limited, as he addressed the crowd.

Since its inception in 2013, the BAFI Awards has set a high benchmark in Nigeria’s financial services sector. The awards don’t just celebrate; they track the shifting competitive landscape and spotlight the critical success factors essential for excellence across diverse financial sectors. This evolving repository of benchmarks and best practices has become invaluable, encouraging all industry players to strive higher and adapt to emerging challenges.