By Babajide Komolafe

The challenge of inadequate manpower in the banking industry will be addressed in the next phase of reforms, said Mr. Kingsley Moghalu, Deputy Governor, Financial Sector Stability, Central Bank of Nigeria.

He spoke after his investiture as a Honourary Fellow of the Chartered Institute of Bankers of Nigeria, CIBN, at the 2013 Awards and Investiture of the Institute.

Moghalu said, “I think that is the next phase of reform in the banking profession and we in the CBN have led that reform process. As you know, one of the major reform pillars of the CBN have been to enhance the quality of banks and so the whole question of the quality of manpower of banks is critical to improving the quality of banks. So, a few months ago, we issued a competency framework for the banking industry to make sure that for certain groups of professionals and duties in the bank, people have the right qualification.”

Managing Director/Chief Executive, First City Management Bank, FCMB, who was also invested as a Honourary Fellow of the institute said that the solution is for banks to continue to train their staff.

“I think it is really about training and development of your staff, making sure that they have the competencies and the scale to serve. We continue to recruit hundreds of Nigerians every year and we will continue to train them and hopefully lead by example so that they can also learn by doing and watching. I enjoin all banking professionals to uphold ethical standards to make our customers very proud and happy.”

In addition to Moghalu and Balogun, five other bank chief executives were invested as honourary fellow of the institute. These are Mr. Emeka Emuwa of Union Bank of Nigeria Plc, Mr. Segun Oloketuyi of Wema Bank Plc, Mrs. Bola Adesola of Standard Chartered Bank Ltd, Mrs. Sola David-Borha of Stanbic IBTC Holding Plc and Mr. Jubril Aku of Ecobank Nigeria Ltd. The Institute also conferred honourary fellowship on Mr. Ayorinde, Olabode, Pro-Chancellor, Achiever University and Mr. Rewane Bismarck, Managing Director/Chief Executive, Financial Derivatives Company Limited.

In his welcome remarks, President, Chairman of Council, CIBN, Mr. Segun Aina, charged the awardees to increase their level of support for the institute, the financial services sector and Nigeria. “I enjoin you all to support the execution of the key mandates of the Institute in promoting education, professionalism and ethical conduct in the banking and finance industry.


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