Banking should be restricted to professionally qualified bankers
Banking should be restricted to professionally qualified bankers, so as to safeguard the industry from further crisis, says Dr. Bode Ayorinde , Pro Chancellor/Chairman of council, Achievers University, Iwo.
“You cannot give what you don’t have. For as long as carpenters continue to occupy our Banking halls, many of the banks would continue to close shop as we have witnessed in the last few years”, he said.
Speaking at the 2012 Graduates Induction/prize awards ceremony of the Chartered Institute of bankers of Nigeria (CIBN), Ayorinde said, “Ultimately, it is the commerce and industry and the Nigerian people that will suffer. A stitch in time saves nine; therefore it is high time that the trend is reversed so as to place the Banking industry in a proper shape towards savaging the Nigerian economy”.
In a paper titled, The Future Workforce of the Nigerian Banking Industry”, he said, “Nigeria has in place various laws relating to Banking operations and practices, so are a number of institutions and government agencies saddled with the responsibilities of implementing these laws. However, these laws as many as they are, and the regulatory agencies established by the laws had failed woefully to achieve a successful reform of the Banking industry.
“Perhaps the major reform that is required to be done, to ensure stability and sustainable development in the Banking Industry, is to require, statutorily, essential bank workers to be qualified professional bankers certified by the Chartered Institute of bankers of Nigeria.
“Really, what the nation lacks is the will to allow professionally qualified personnel to man the Banking industry as well as the regulatory institutions towards effective implementation of the various laws in other to achieve their desired goals.
“The financial services sector generally and the Banking industry in particular are special areas that require qualified personnel to formulate and execute policies and manage. It should not be all comers affair.
There is no gainsaying in the fact that when properly trained professionals are saddled with the responsibility of managing the banks and the regulatory institutions, they would understand the essence of the ethics of the Banking profession; but where every Dick and Harry that can mobilize fund get to the pinnacle of the Banking career, the purpose of Banking would be defeated. Perhaps only profit would matter.
“It is therefore astonishing that professionally qualified bankers are not statutorily required for the position of the Governor of CBN or the top hierarchy of licensed banks. The consequence of this lacuna is of course the crisis in the Banking industry and shoddy consolidation exercise which led to unsavory consequences.
It can be seen from the foregoing that the major challenge facing the Banking industry is the ‘disconnect’ between the industry and the institute. Until both are connected so that the professional bankers trained by the institute are in position to positively affect the Banking industry, no meaningful reform can take place in the industry.
“If there is any future for the bank industry, which is the future of genuine effort to develop commerce and industry in this country, the future belongs to professionally trained bankers. And the future is now. Our Institute must work in tandem with the Central Bank of Nigeria and the Nigerian Legislature to ensure that necessary statutes are put in place to return the bank industry to the professionals.”
Banking should be restricted to professionally qualified bankers.
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