CIBN, NBTE Sign MoU to Improve Teaching of Banking and Finance

The Chartered Institute of Bankers in Nigeria (CIBN) and the National Board for Technical Education (NBTE) have signed a memorandum of understanding (MoU)  to improve the teaching of banking and finance in polytechnics across the country.

The MoU was signed in Abuja between the leadership of the two bodies.

In his remark at the signing MoU, the President and Chairman of Council of the Chartered Institute of Bankers of Nigeria, Dr Ken Opara said the signing is meant to cement the age-long interaction that had existed with the two bodies.

Opara said, “The Institute and NBTE have a long history of very cordial relationship as NBTE has been serving on the Governing Council of the Institute for a very long time. That relationship is further cemented today with the execution of this MoU.

“The Institute is particularly excited about this collaboration which focuses on infusion of practice into the teaching of Banking and Finance in the polytechnics in Nigeria. This no doubt will help to deepen the relationship between town and gown, which has been the missing link in our educational system.

“I therefore would like to acknowledge and commend the leadership of the NBTE led by Prof. Idris Bugaje, Executive Secretary, NBTE, for its numerous laudable achievements in line with its mandate to develop and improve the nation’s higher education system”.

He underscored that as a partner on this journey, the institute is happy to lead and be part of the accreditation team that will be visiting the polytechnics in Nigeria in order to ensure that the teaching of banking and finance courses complies with the standards set by NBTE.

Chairman of Council of the Chartered Institute of Bankers of Nigeria  added “This quality assurance process will certainly help to guarantee that graduates of our polytechnics are equipped with contemporary knowledge and skills required to cope with the changes in the ever-evolving financial services industry.

“Recall that on September 12, 2018, the Institute expressed its interest to collaborate with the National Board for Technical Education to review the banking and Finance, National Diploma (ND) and Higher National Diploma (HND) curriculum, in a bid to infuse practical professional training into the curriculum of Polytechnics in Nigeria.

“I am delighted to mention this morning that this request was favourably considered by NBTE and the Institute was given the mandate to sponsor the review of the ND and HND banking and Finance curriculum. The curriculum review exercise eventually took place from February 6-10, 2023, putting an end to a nineteen-year-old curriculum that has been used in the training of banking and finance students in the polytechnics.

“We commend the leadership of NBTE for this strategic initiative that will no doubt foster the production of an agile, competent and market ready workforce for the banking and finance industry.

“May I crave the indulgence of the leadership of NBTE and seek your support in ensuring that lecturers, especially, heads of departments of Banking and Finance in Polytechnics in Nigeria are registered members of The Chartered Institute of Bankers of Nigeria in order to enhance and enrich the teaching learning process.”