Section 10: Registration of members.

(1) An individual, other than one whose membership has been suspended by a directive of the Disciplinary Tribunal shall be entitled to be registered as a member in the following categories-
(a) Ordinary Member, where the person does not satisfy the conditions for registration as a Student Member, Graduate, Associate, Honorary Senior Member, Honorary Fellow or Fellow specified in paragraphs (b )-(g) of this section.
(b) Student Member, where the person-
(i) works in a financial institution and has a degree or equivalent qualification or the minimum qualification prescribed by the Council, or
(ii) does not work in a financial institution, but has the basic qualification approved by the Council from, time to time, for registration as a student ; or
(iii) satisfies any other condition which the Council may, from time to time approve.
(c) Graduate Member where the person-
(i) has passed the associateship examination specified by Council but has not had the period of on-the-job practical experience prescribed by the Council,
(ii) not being a member of the Institute at the time of application for membership, has passed the qualifying examinations of an Institute of Bankers in any other country acceptable to the Council, or
(iii) has not been elected a Fellow or an Associate by recognized foreign Institute of Bankers ;
(d) Associate member where the person-
(i) has passed the associateship examination specified by Council,
(ii) not being a member of the Institute at the time of application for membership, has passed the qualifying examinations of an Institute of Bankers in any other country acceptable to the Council, or
(iii) has had a period of on-the-job practical experience not less than the minimum period prescribed by the Council for the category of membership sought, or
(iv) has been elected by any recognized foreign Institute to that category of membership;
(e) Honorary Senior member, where the person-
(i) does not satisfy the conditions for registration as an associate or fellow specified in paragraphs (d) and (g) of this subsection, but has obtained the academic qualifications prescribed by the Council for honorary senior membership, and
(ii) occupies a senior management position in a bank, and other financial institution or tertiary educational institution ;
(f) Honorary Fellow, where the person -
(i) has contributed immensely to the growth of the banking and financial industry and the Institute, or
(ii) is considered by the Board of the Fellows and the Council as a fit and proper person to be awarded the honorary fellowship of the Institute;
(g) Fellow, where the person-
(i) satisfies the Council that he is a fit and proper person to be so registered and has for a number of years (to be specified by the Council) been an associate member, and
(ii) satisfies all other criteria as may be specified by the Council from time to time.
(2) An applicant for registration shall in addition to evidence of qualification, satisfy the Council that-
(a) he is of good character ; and
(b) he has not been convicted in Nigeria or elsewhere of an offence involving fraud or dishonesty.
(3) A banking institution shall be entitled to be registered as a corporate member where it has been -
(a) licensed to carry out the business of banking in Nigeria, and
(b) satisfied any other condition which the Council may from time to time approve.
(4) The Council shall from, time to time, publish in the Institute's Journal, particulars of qualification for the time being accepted as aforesaid.