The Chartered Institute of Bankers of Nigeria (CIBN) has inducted 1,212 graduated banking professionals, urging them to continuously learn and adapt to new changes.
The President/Chairman of CIBN, Dr. Ken Opara, gave the advice at the 2023 CIBN graduates induction and prize award on Saturday in Lagos.
The ceremony has its theme, “The Dynamics of Work and Current Realities: The Way Forward for Financial Service Professionals.”
Opara said that the theme resonated deeply with the rapid changes that had continued to shape the landscape in the financial services sector.
“We live in a world of unceasing transformation, fuelled by the convergence of technological breakthroughs, shifting market dynamics, and changing customer expectations.
“According to a report by the World Economic Forum in ‘Future of Jobs Report 2022’; it was noted that by 2025, emerging technologies such as artificial intelligence, robotics, and data analytics are expected to drive significant shifts in labour markets, necessitating new skills and adaptability from professionals across all industries.
“Statistics from the same report underline the urgency of embracing change: approximately 40 per cent of the core skills required to perform existing roles in financial services sector are expected to change by 2025.
“This underscores the importance of aligning our skill sets with the emerging demands of the industry, enabling us to navigate the disruptions and seize the opportunities that lie ahead.
“It is imperative to state that as an institute, we are in tune with the dynamics shaping the financial services landscape and recognise the profound impact of technological innovations, which have orchestrated a significant transformation within our industry,” he said.
The CIBN president pledged the institute’s commitment to executing strategic capacity-building initiatives that would bridge skill gaps and empower professionals.
According to him, this will help them to remain at the forefront of industry advancements while also ensuring their sustained competence in an ever-evolving landscape.
Opara, who celebrated the inductees, said that they represented the future of the industry.
He said, “We are confident that your knowledge, skills, and ethical values will contribute significantly to the continued growth and development of the financial services landscape in Nigeria and beyond.”
The CIBN president, later announced that going forward, the induction ceremony of the institute would hold twice a year, beginning from February 2024.
This, he said, was a strategic move by the institute to ensure it turned out graduands more rapidly and enable them use the ACIB/MCIB designations almost as soon as they completed their programme.
The institute inducted a total of 1,212 graduates, comprising 27 from the CBMBA route, 29 from the MSc/ACIB route, 354 with the ACIB designation, and 804 as Microfinance Certified Bankers.(NAN)