CIBN Moves to Enhance Competence in Banking Sector
The Chartered Institute of Bankers of Nigeria (CIBN) yesterday announced the commencement of the implementation of the Competency Framework for the banking industry in Nigeria. The initiative would see the institute ensure that staff members of Nigerian banks qualify for the job roles they occupy. The Competency Framework was released by the Central Bank of Nigeria (CBN) in 2012. But the banks then requested for more time for full compliance with the provisions. In December 2016, however, the CBN formally communicated the Terms of Reference for the engagement for CIBN as the Sole Accreditation Agency for the implementation of the framework for the Nigerian banking industry.
Among other objectives, the Competency Framework will define the minimum knowledge, skills and com- petencies needed for operators and regulators to perform optimally on their various jobs and also standardise capacity and competency development with a view to nurturing and producing a knowledgeable, skilled and competent workforce for the Nigerian banking industry.
CIBN’s core responsibility within the Framework will be to accredit Educational Training Service Providers (ETSPs) and their programmes, and, where necessary, disaccredit them and their programmes, and monitor training programmes continually to ensure that they meet set requirements at all times.
Presently, about nine commercial banks have Bank Entry Level Training Academies. They include Guaranty Trust Bank, Access Bank, FirstBank, Sterling Bank, Standard Chartered Bank, FCMB, Diamond Bank, Zenith Bank and the National Deposit Insurance Corporation (NDIC) and they have been accredited by the CIBN. Also, three ETSPs have claimed their CIBN accreditation. “I will like to thank the banks for showing commitment towards the implementation of the Framework,” the CIBN President and Chairman of Council, Professor Segun Ajibola, told newsmen at a media briefing in Lagos yesterday. “It shows that with the spirit of oneness, we can achieve everything we set out to do. I wish to implore the banks that are yet to get their Academies accredited to do so without delay.” The CIBN boss also reported that in furtherance of its mandate, the Institute signed agreements with the Central Bank of Liberia and Liberia Bankers Association, on May 18, to commence CIBN examinations in the country from October. A similar agreement had been signed with bankers in the Gambia, and their first set of graduates will be inducted in Nigeria this August.