CBN Wants Banks to Build Workers Capacity

Nigeria: — The Central Bank of Nigeria (CBN) on Saturday said it would introduce reforms which would ensure that banks adhere strictly to competence in their operations.

The CBN Deputy Governor in charge of Financial System Stability, Dr Kingsley Moghalu, said this at the 2013 Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.

Moghalu, who spoke after he was conferred with an Honorary Fellow of the institute, attributed the low level of competence to insufficient manpower in the banking industry.

He urged the regulators and operators to engage bank workers in capacity building to enhance their skills for effective operations.

The CBN deputy governor said untrained staff could become unproductive, and noted that continuous training would keep them abreast of the latest development in the banking industry.

According to him, constant capacity building will make bankers to be abreast of happenings, particularly in the era of technology.

Moghalu promised to support CIBN to realise the purpose of the institute.

Earlier, the CIBN President, Mr Segun Aina, enjoined all awardees to put in their best in the profession as well as make sure that their bank customers were proud of them.

Aina said that investiture was aimed at lifting the standard of the profession and the banking industry to a greater height.

Also, Mr Tay Laun, the guest speaker, and the Chief Executive of the Institute of Banker, Malaysia, said the right skills should be put in place to ensure confidence in the industry.

Laun said that increased and effective regulation from the apex bank would also boost the performance of the industry.

He noted that Nigerian banking industry was not different from the rest of the world, adding that any technology needed in advanced countries was also needed in the country.

The CIBN also conferred six others honourary fellowship, 132 were elevated honourary senior members, while 44 were conferred with membership.

A former CBN Governor, Dr Joseph Sanusi, a former Chairman of Cadbury Nigeria, Dr Gamaliel Onosode, among others, attended the investiture. (NAN)