Optimistic that the Nigerian banking system is on its path to a bigger and stronger/more resilient banking sector which will stand to compete adequately with African peers in market share and sizes, also, improve its functions in channelling funds from the surplus sector to the deficit sector of the economy and driving financial inclusion, the Chartered Institute of Bankers of Nigeria (CIBN) on Thursday, organised a career talk for secondary schools with the aim to boost financial literacy amongst students.
Speaking at the career talk themed “Banking as a career choice: Taking the first step,” Seye Awojobi, registrar and chief executive of CIBN explained the programme was set up as a “catch them young” initiative aimed at driving and deepening financial literacy and inclusion among the young ones.
“A career in banking is open to everyone regardless of the race gender, age, physical capability etc which many believe,” he mentioned, hence, “there is an urgent need to reform the education sector in order to nurture the young ones and prepare them for an excellent future in banking,” which he termed a noble profession.
In contrast to countries like China, Singapore etc to mention but a few – with huge chunk of their budgeted funds diverted into boosting the educational system of the economy – Nigeria’s education sector still suffers from lack of adequate funding amongst other factor, hence, putting the country in the low human development category – positioning it at 157 out of 189 countries and territories at a value of 0.532 as at 2017.
With technology disruptions across the world, students at the occasion raised concerns over the possibility of technology taking away jobs from them when they come of age and ready to take up challenges in the banking sector.
In a Forbes report on why robots will not take over human jobs, it said of a study by Gartner research that while 1.8 million jobs will be lost by 2020, 2.3 million new ones will be created.
However, with Nigeria grossly lagging behind in the flight of the fourth industrial revolution in modern day coupled with the fast pace in technology growth across the world, Nigerians seem to be well positioned to suffer job loss by 2020 to Artificial Intelligence (AI) inventions if not adapted to.
“I do not see the advancement of technology taking away jobs as to every technology built, the must be people who will operate it. The onus lies on us to get familiarize ourselves with these innovations in other to make our skills still relevant and needed in the banking space,” Peter Obasekin, chief operating officer FCMB group plc said at the symposium.
Awojobi explained further that, “the banking industry has in line with global practises moved from the brick and mortar age to the digital age. The banking industry has evolved drastically over the past years and this has given rise to a more structured, challenging and intellectual roles.”
Mojisola Bakare, general manager and business executive, Sterling bank, spoke on the need for students to have a vision, run with it and see its actualisation. Using her self as a case study and her passion to have a career in banking, she advises that, “students who desire a career in banking must be willing to learn, unlearn and relearn.”
Described banking as a noble occupation, Awojobi announced that the CIBN has grown its membership profile to over 135 thousand after 53 years of its existence along with 54 universities and polytechnics. He added that as a professional body, it has widened its horizon to conduct its examinations to other parts of Africa including Liberia.
Also battling education challenges, it is making moves to establish a direct entry programme for those who are unable to get admission to write the institute’s exam and gain admission. “CIBN to launch young bankers club,” he concluded.
HOPE MOSES-ASHIKE & DAVID IBIDAPO
