CIBN lauds Otti as Abia records 10% GDP growth in 30 months

The President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Pius Olarenwaju, says Abia State has recorded notable economic progress under Governor Alex Otti, including a 10 per cent increase in Gross Domestic Product and an eight per cent reduction in poverty within 30 months.

Olarenwaju stated this on Thursday, February 5, when he led members of the institute on a courtesy visit to the governor at Government House, Umuahia.

He said the state had also attracted significant investments and created over 10,000 jobs within the period.

According to him, improvements in healthcare delivery, reduced mortality rates, the introduction of health insurance and enhanced education infrastructure through free education policies were clear indicators of purposeful governance.

“We have read about your achievements in the newspapers, but it is more gratifying for us to see them firsthand and go back to tell more people. So, we appreciate you, sir,” he said.

The CIBN president also acknowledged improvements in road infrastructure and ongoing projects across the state. He commended the Operation Crush security initiative, noting that it had improved safety, boosted youth confidence and stimulated economic activities.

Olarenwaju described Otti as a goodwill ambassador of the institute, saying his achievements in public service had become a source of pride to members of the banking profession.

He called for deeper collaboration between the CIBN and the Abia State Government in areas such as financial literacy, financial inclusion, completion of the CIBN state office and infrastructural development.

Dr. Alex Otti, Abia State governor and President and Chair of the Council of the Chartered Institute of Bankers of Nigeria, Prof. Pius Olarenwaju.

He disclosed that the institute was implementing a national programme to train 10 million women and youths on financial inclusion, stressing that financial literacy remained a prerequisite for economic empowerment.

“We want the involvement of the state in this programme. There is a condition precedent to financial inclusion, and that is financial literacy. We are intentional about this and will go ahead to do it,” he said.

Responding, Otti reaffirmed his administration’s commitment to sustainable development and stronger collaboration with the CIBN, noting that the relationship between both parties was already well established.

The governor highlighted key achievements of his administration, including job creation, economic growth, poverty reduction, free and compulsory education, and improved healthcare delivery.

He explained that the free and compulsory primary and junior secondary education policy, introduced in January last year, had led to over a 100 per cent increase in school enrolment. He added that the state had recruited 5,394 teachers, while the process of employing an additional 4,000 was ongoing to meet rising demand.

Otti also commended the CIBN’s efforts in curriculum reform and expressed interest in adopting the institute’s updated curriculum across state-owned tertiary institutions.

“The institute’s programme on financial inclusion and financial literacy for members of the public is very important. Even those of us who think we have some knowledge still make investment mistakes – not deliberately, but because we do not know. So, I am very happy that you are doing this,” the governor said.