In line with the Central Bank of Nigeria’s directive to ensure quality assurance in the banking industry through its competency framework, the Chartered Institute of Bankers of Nigeria has accredited training academies established by some commercial banks.
The training academies were Stanbic IBTC Blue Academy, Keystone Bank Academy, Union Bank Learning Academy, Skye Business School, Fidelity Crest Academy.
The international regional education training service provider was West African Institute for Financial and Economic Management.
The CIBN also presented certificates to some tertiary institutions on linkage agreement with the institute.
The tertiary institutions were: Kwara State University, All Hikmah University, Ilorin, Kwara State; Lead City University, Ibadan, Oyo State; IMO State Polytechnic; and Ken Saro Wiwa Polytechnic, Bori, Port Harcourt.
The President, CIBN, Prof. Segun Ajibola, while presenting the certificates to the representatives of the training academies and universities, said the accreditations and the linkage agreements were part of the institute’s effort to enhance professionalism in the banking industry.
According to him, the step will promote quality assurance and enthrone minimum standard for practitioners.
Ajibola said, By this initiative, you have gained the label of recognition of floating a professionally certified banking and finance and allied programmes in this wise also.
“I have no doubt in my mind that this accreditation would put you in a more comfortable position towards achieving your mandate and also continue along the path of improving the quality of your offering.”
While commending the tertiary institutions and banks for meeting the institute’s requirements, he admonished them not to compromise the standards that led to their qualification.
Ajibola urged the training academies and institutions on linkage agreement to reinvent themselves, adapt to the changing needs and trends and respond to the aspirations of their various stakeholders.
He said, For the tertiary institutions, we would like to reiterate that this linkage agreement is no longer limited to the banking and finance programme. The Council of the CIBN has approved the extension of the linkage to other courses such as Accounting/Accountancy, Business Administration, Economics and Marketing. I would also like to state that the Governing Council has approved that students can commence the writing of the examinations even while in school.
As for bank academies, by this presentation, all those who passed through the academy are eligible for exemption from various subjects in the banking professional examination. In view of this, we implore you to ensure that the staff members of your banks take full advantage of this feature to write the examination.
He added, This agreement now carries a definite tenure. Subsequent renewal depends on the level of performance and the extent to which parties keep faith with the provisions of the agreement.
The Chairman, CIBN Capacity Building and Certification Committee, Prof. Pius Olanrewaju, stated that many institutions had applied but only few could scale through because of basic requirements.
He added, Whatever you are seeing here is that we had already separated the wheat from chaff. The accreditation is not once and for all it is something that is gradual.