CBN competency framework to address industry knowledge gap – CIBN

The recent appointment of the Chartered Institute of Bankers of Nigeria (CIBN) for the planned implementation of the Competency Framework for the banking industry in Nigeria, by the Central Bank of Nigeria (CBN) is to among other things address the knowledge gap in the banking industry towards capacity building in Nigeria’s financial sector.

Segun Ajibola, President/Chairman of Council, CIBN in his opening address at the press conference in Lagos, said the introduction of the competency framework is a conscious step to redirect the banking industry towards entrenching competency in the industry.

According to him, the competency framework will help develop programmes to ensure that the staff of the banks in Nigeria qualifies for the job roles they occupy.

Speaking further on the objectives of the framework, Ajibola said, “This framework will define the minimum knowledge, skills and competencies needed for operators and regulators to perform optimally on their various jobs.”

“The framework will establish standard competency requirements for each job role to serve as a guide to Nigerian banks for their talent recruitment and development programme,” he said.

The competency framework is to serve as a coordinated industry recognised training accreditation system that guarantee competency standard for practitioners within the financial industry.

However, the CIBN has mandated all banks in Nigeria to get their academies accredited, and provide details of their Educational Training Service Providers (ETSPs) and profiles of their staff for a smooth take-off of the scheme based on the terms of reference given to the institute by the CBN.

Seye Awojobi, Registrar/Chief Executive, CIBN in his remark said the institute has accredited 9 Bank Entry Level Training Academies and 3 ETSPs as a sign of willingness to comply with competency framework by the banks.

According to him, the competency framework was approved by the Bankers’ Committee to help promote professionalism and specialism in the various segment of the financial institution in Nigeria.

Awojobi however disclosed that the Global Education Standards Board (GBStB) launched during the 22nd World Conference of Banking Institutes held in Lagos earlier in the year, was to develop clear internationally agreed standards for banking professionals.

It is however expected that the Central Bank in collaboration with the CIBN, through the capacity building and certification committee of the institute will work together to ensure compliance by all ETSPs and academies of the banks to bridge the skills gap in the industry with the competency framework.

 

HOPE MOSES-ASHIKE, SEYEJOHN SALAU