Nigeria’s banks and other financial institutions have navigated turbulent waters during the 2023 financial year, surmounting various economic headwinds and the recent recapitalisation mandates from the Central Bank of Nigeria (CBN) pushing banks to rethink their strategies. It is essential to celebrate resilience and excellence. The 2024 edition of the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, taking place tomorrow, provides that timely moment of recognition.
At a time when the financial services industry faces immense pressure to adapt, the BAFI Awards highlight institutions that have not only weathered the storm but also continued to innovate, deliver value, and uphold the highest standards of professionalism. These awards are more than just a ceremony—they are a testament to the strength of Nigerian financial institutions, standing tall amid adversity and reinforcing confidence in the sector.
The BAFI Awards, now in its 12th year, remains the most rigorous and transparent awards programme in Nigeria’s financial industry, with a tradition of celebrating the best of the best.
Backed by BusinessDay’s Research and Intelligence Unit (BRIU) and an independent panel of judges, the awards track and benchmark the changing competitive landscape, providing a repository of best practices for industry players to learn from.
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From commercial banks that are extending their reach to underserved communities to microfinance institutions offering tailored financial services, tomorrow’s awards will recognise those whose actions speak louder than words. These institutions are not just surviving—they are thriving, demonstrating adaptability, innovation, and excellence in execution.
The BAFI Awards continue to carry immense prestige, both locally and internationally. Past winners have gone on to secure global recognition in major financial capitals such as London and New York, validating the impact of their leadership and strategic decisions on the global stage. This year’s nominees are no different—exemplifying the vision, market-leading propositions, and resilience required to drive Nigeria’s financial future forward.
As we approach tomorrow’s celebration, we are reminded of the power of resilience in uncertain times. Despite the hurdles, Nigeria’s financial institutions continue to show an unwavering commitment to economic growth, offering hope and stability to millions of Nigerians. The BAFI Awards honour this resilience, shining a light on those who continue to lead with integrity and innovation in these challenging times.
As the spotlight turns to the 2024 BAFI Awards, let us celebrate those who are not just surviving, but thriving—turning challenges into opportunities for the betterment of Nigeria’s financial landscape.
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