The Chartered Institute of Bankers of Nigeria (CIBN) is a professional body that regulates the activities of bankers in Nigeria. It was established in 1963 and has been at the forefront of promoting excellence in the banking profession in Nigeria. In order to become a member of the institute, you have to register and pay a registration fee. But how much is CIBN registration? This article will answer that and other questions you may have about the registration process.
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What is CIBN Registration?
CIBN registration is the process of becoming a member of the Chartered Institute of Bankers of Nigeria. It involves meeting the requirements set by the institute, paying a registration fee, and attending an induction ceremony. The registration process is open to individuals who have a degree in banking, finance, or related fields, and have worked in the banking industry for a minimum of five years.
How Much is CIBN Registration Fee?
The registration fee for CIBN varies depending on the category of membership. There are four categories of membership in CIBN: Associateship, Full membership, Fellowship, and Honorary membership. The registration fee for each of these categories is as follows:
- Associateship: N 25,000
- Full membership: N 40,000
- Fellowship: N 50,000
- Honorary membership: Free
What are the Requirements for CIBN Registration?
Before registering with CIBN, you need to ensure that you meet the requirements for membership. The requirements for each category of membership are as follows:
Associateship:
- A degree or Higher National Diploma (HND) in banking, finance or related fields
- At least five years post-qualification experience in the banking industry
Full membership:
- A degree or Higher National Diploma (HND) in banking, finance or related fields
- A minimum of ten years post-qualification experience in the banking industry
- Two professional references from current or past employers
Fellowship:
- Full membership of CIBN
- A minimum of fifteen years post-qualification experience in the banking industry
- Two professional references from current or past employers
- Evidence of contribution to the growth and development of the banking industry
Honorary membership:
- This is awarded by the council of CIBN to individuals who have made significant contributions to the banking industry in Nigeria.
How Long Does CIBN Registration Take?
The registration process for CIBN can take up to six months from the time of application to induction. It involves submitting your application form, paying the registration fee, providing the required documents, and attending an induction ceremony. The induction ceremony is usually held twice a year, in May and November.
What are the Benefits of CIBN Membership?
Being a member of CIBN comes with many benefits, including:
- Access to a network of banking professionals
- Opportunities for professional development through training and conferences
- Recognition and validation of your professional status as a banker
- Access to resources and research on the banking industry
- Opportunities for career advancement
Conclusion
CIBN registration is a process that involves meeting the institute's requirements, paying a registration fee, and attending an induction ceremony. The registration fee varies depending on the category of membership. The benefits of being a member of CIBN include access to a network of professionals, opportunities for professional development, and recognition of your professional status as a banker.
FAQ
- How do I apply for CIBN registration?
You can apply for CIBN registration by visiting their website and filling out the application form.
- Can I register with CIBN if I don't have a degree in banking or finance?
No, you need to have a degree or HND in banking, finance, or related fields to register with CIBN.
- How often are induction ceremonies held for new CIBN members?
Induction ceremonies for new CIBN members are usually held twice a year, in May and November.
- What is the difference between associateship and full membership in CIBN?
The main difference between associateship and full membership is the number of years of post-qualification experience required. Associateship requires five years, while full membership requires ten years.
- What is the tenure of CIBN membership?
CIBN membership is renewable annually, and members are required to pay an annual subscription fee.
