The Special African Banking Leadership Commendation Award from the ninth International Forum on African-Caribbean Leadership was given to the Chief Executive Officer of Nigeria’s Bank of Industry, Mr. Kayode Pitan.
The Punch reported that annually, the African Leadership Magazine hosts the International Forum on African Leadership with the theme “African-Caribbean Cooperation and Today’s Geopolitics” in New York, USA.
The award, according to a statement on Tuesday, was given in honour of Pitan’s contributions to the expansion of Nigeria’s industrial sector.
It read, “Mr. Pitan draws on significant experience gained across various financial services sectors, including banking and capital markets, during his more than 30-year career as managing director and chief executive officer of the Bank of Industry, Nigeria’s oldest and largest development finance institution, to carry out the mandate of the Bank.
“Under his direction, the Bank of Industry considerably improved Nigeria’s industrial sector by offering low-cost, long-term financing and countercyclical loans that were distributed throughout a variety of the country’s economic sectors.
“He has pioneered various novel transactions in the Nigerian capital market and the global financial sector over the past five years to further Nigeria’s economic development.”
In addition, it stated, “Under his leadership, the Bank of Industry has consistently promoted financial inclusion by supporting the expansion of more than three million enterprises, creating more than seven million jobs for the Nigerian people. To date, he has led the bank to successfully raise about $5 billion from the international market through syndications and the bond market over the last four years.”
