NIGERIA: CIBN Harps on Improved Human Capital

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 The Lagos State branch of the Chartered Institute of Bankers of Nigeria (CIBN) has stressed the need for banks and other financial institutions to pay greater attention to the quality of human capital in their organisations.

The Chairman, Lagos State branch, CIBN, Mr. Bolade Agbola, said this while briefing the media on the institute’s forthcoming ‘bankers’ nite’ titled: “Human Capital: Value Creation and Capacity Building for Financial Services Sector in a Frontier Economy,” scheduled to hold on July 24th.

Agbola noted that the issue of human capital in the financial sector is very important because in the past 10 years the Nigerian economy has gone through the cycle of boom, doom and recovery, but with little attention paid to human capital.

“If you look at the population of bankers in 2004 and the population of bankers today, there are lots of differences. We have transmuted from the era of a one-man banks to professionals-run banks. We believe that having gone though this stage, it is good for us to take stock.

“We need to reposition the banking industry to face the new era of boom that is imminent and to face the challenges of being classified as a frontier economy,” he added.   

According to the Lagos CIBN boss, the choice of the topic cannot be over emphasised as the institute strives towards boosting the tenets of professionalism and ethical standards in the financial industry, bridge skill gap and restore the trust and nobility for which the banker is traditionally noted for.

Furthermore, he pointed out that the CIBN Act which states that “any bank staff who did not qualify as ACIB cannot hold certain sensitive positions in a bank,” further supports the drive for professionalism in the industry.

“The branch in its usual stride is at the fore front of propagating the mandate of the institute through lectures, seminars and publications for all these categories.

“This year’s event provides an opportunity for exchange of ideas especially regarding the issue of manpower development which we believe is a critical factor to drive other elements for a sustainable growth in a frontier economy as ours.

“It is also an avenue for bankers to interact with one another and network with the Nigerian business community,” he said.

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