Opening speech of Chairman and President of Council at CIBN graduate induction ceremony of 7th July
P R O T O C O L S
It is with great delight that I welcome you to the 2012 Graduates’ Induction and Prize Awards Day which is one of the most important events in the Institute’s Annual Calendar of events.
This is a graduation ceremony for our student members who have successfully completed the various professional examinations and certifications of the Institute in 2011 as well as award of prizes to deserving top performers in the examinations. We have a total of 671 members who have successfully qualified for the award of the Institute’s banking professional qualifications in examinations conducted in 2011, viz. 46 for Certificate in Banking, 2 for Treasury Dealership Certificate, 468 for Microfinance Certification and 155 for the Associateship of the Chartered Institute of Bankers (ACIB).
I would like to offer my warmest congratulations to the graduands of today on the completion of the examinations. I am confident that the skills and knowledge that you have gained will enhance your competencies and enable you provide value added services to your employers, thus furthering the standards and developments of the banking profession.
Let me emphasize that your induction as professionally Certified or Chartered Bankers as the case may be has imposed on you the challenges of having to, henceforth, stand tall in integrity, impeccable in character, professional in service, alert to global trends and uphold high ethical and professional standards. I therefore urge you to strive, at all times to do your profession and the industry proud. You must also do yourselves and your families proud. Acquisition of the required knowledge and skill need to be followed with diligent application in the workplace. You have to prove your mettle and let your performance stand you apart from other professionals.
It may interest you to note that your career opportunities are not limited to the Banking sector as a number of professionally Certified and Chartered Bankers have made very successful exploits outside of core Banking – in government service, in academics, for instance. The knowledge acquired in the Institute’s examinations can be gainfully applied to excel in job functions outside of the banking hall. In this respect, I am delighted to note that the three very accomplished chartered Bankers that have honoured our invitation to speak to you today have been hugely successful in and outside of Banking and will share their experiences with you in this regard.
The economic & financial landscape and indeed the Banking industry has changed and must continuously change to meet changing customers and stakeholders requirements. Therefore, the education of professional Bankers must also change to reflect these requirements. This awareness is global and not peculiar to the Nigerian environment alone. For instance, the Governor of Central Bank of Malysia in a 2008 paper posited that “Banking is a knowledge intensive, skill based and relationship rich industry in an increasingly complex and a more liberated environment. We need a new generation of professional bankers, who are more customer centric, technology savvy, more highly qualified, flexible and agile with skill sets that are now more comprehensive than previously ...”
I am pleased to inform you that your Institute had in the last few months benchmarked with some of the most successful national banking Institutes and banking training providers in India, Malaysia, Canada, Scotland and Ireland. Your Institute has entered into partnership and collaborative initiatives with these banking institutes as a means of ensuring that our programmes, activities and examinations meet global standards and requirements.
In this regards, the Governing Council of the Institute had at its meeting of June 21, 2012, approved the framework for a comprehensive review of the Syllabus and examination regulations which will take effect in 2013.
In addition to new subject offerings, Council has approved creation of different paths and routes to the flagship qualification, “ACIB” as well as a 3 –level structure comprising of
-Intermediate Professional Level and
Certification programmes in specialised areas and job family in the banking, finance and other relevant areas have been approved including certification in such areas as Risk Management, Wealth and Money Management, Corporate Banking, Project Finance, Banking Regulation and Supervision, Electronic Banking, etc. These certifications are also linked to specific levels of the new syllabus structure.
Other aspects of the new structure includes:
§ Introduction of core and elective subjects which afford candidates the opportunity to select and strengthen their career pursuit in their preferred function or job family.
§ Determination of skill, knowledge and entry point/level certification for any person who desires to be gainfully employed in the banking profession.
§ Inclusion of Competency requirement and enhancement of career progression at all levels for existing and new entrants in the banking industry.
§ New eligibility criteria and exemption modalities for experienced Graduate Bank Employees and Honorary Senior Members with respect to the Professional Examinations leading to ACIB.
To support the delivery of these programs and other initiatives, arrangements have been concluded for the establishment of the CIBN Banking School and the introduction of various E-learning platforms.
The establishment of a Banking School will ensure that we can deliver a broad range of international banking curriculum of multi-disciplinary dimension. On the other hand, the E-learning Management System will provide a seamless range of learning deliverables that will give our members the necessary support, flexibility and convenience in the acquisition of knowledge and skills to enhance their proficiency including lifelong learning through the Compulsory Continuous Professional Development (CCPD) programme.
To further drive our desire for a better and brighter professional banking education/human capacity development, and ensure that our programmes, activities and examinations are in line with best international practices and standards, the Institute is actively involved in the emerging Global Banking Education Standards Board (GBESB) a voluntary industry-led initiative of the world’s leading banking institutes representing bankers worldwide with the objective to develop clear, internationally agreed standards for the education of Professional Bankers.
The full implementation of these reviews will ensure the readiness of the Institute in playing the required roles in the implementation of the evolving competency framework for the Nigerian Banking Industry.
Distinguished Ladies and Gentlemen, it is obvious that concerted efforts are being made in the Institute to stay ahead of the changing banking landscape as it is our goal to improve our value propositions and delivery to the banking community.
To my dear Graduands, I wish to draw your attention to the need for you to remain relevant by belonging to and rendering services at the branches and chapters of the Institute nearest to you. You are also to participate in the activities at the National Secretariat. More importantly, you are obliged to key in into the compulsory continuous professional development program to enhance your lifelong learning.
Our distinguished guests, I thank you for making time out of your busy schedules to honour our graduates and the Institute with your presence.