The Chartered Institute of Bankers of Nigeria (CIBN) has signed a Memorandum of Understanding,(MoU) with Afe Babalola University Ado-Ekiti, ABUAD, to further enhance the quality of banking and finance education, and also integrate deeper professionalism into academic programmes.
The MoU was executed at the university, which seeks to bridge the gap between theoretical knowledge and practical skills in Nigeria’s financial services sector.
Speaking at the signing ceremony Friday, President and Chairman of the Council of CIBN, Prof. Pius Olanrewaju, hailed the patriotic initiative of elder statesman and legal icon, Afe Babalola, SAN in conceptualising the establishment of ABUAD which he acknowledged to have become a leading light among the comity of universities in the country, Africa and the global world within its short time of operations.
Olanrewaju emphasised that the partnership aligns with CIBN’s Legacy Agenda, which prioritises human capital development, youth empowerment, and the long-term sustainability of Nigeria’s financial system.
He described the partnership with ABUAD, as a strategic initiative to strengthen collaboration between academia and the professional banking community.
This, he explained, would significantly improve employability and readiness for the evolving demands of the financial services industry.
“ This collaboration reflects our commitment to strengthening the nexus between town and gown, while ensuring graduates are not only academically sound but also professionally prepared to thrive in a rapidly changing global environment,” Prof. Olanrewaju stated.
He commended the management of ABUAD, and the Vice-Chancellor Prof. Smaranda Olarinde for embracing the initiative and demonstrating a commitment to professional relevance within the university’s academic offerings.
Speaking, Mr Modupe Babalola, the ABUAD Bursar, said with the intense efforts of CIBN, casual workers and other non-professionals alike, no longer have a place in the banking industry.
He described as highly embarrassing and unwarranted, a situation whereby a whole lot of strangers, particularly engineers were the ones calling the shots in the banking sector, while those who are certificated are wasting away.
Earlier in her welcome address, ABUAD Vice Chancellor, Prof Smaranda Olarinde said it was historic that the university and CIBN came together to formalise a partnership that promised to deepen professional excellence, strengthen academic relevance and shape the future of of banking and financial services education in Nigeria.
She said the MoU with CIBN, underscored commitment of the University to promoting professional excellence, strengthening financial education, and contributing to the development of a globally competitive banking workforce in Nigeria.
She disclosed that through the collaboration, students of the University, particularly those in Accounting, Finance, Economics, Business Administration and related disciplines would benefit from structured professional pathways, exposure to industry best practices, certification opportunities, mentorship framework and curriculum alignment with global banking standards.
It was gathered that as at the last count, the Institute has executed over 83 similar Linkage Agreements nationwide, covering 59 universities and 24 polytechnics, with additional participation, through postgraduate linkage arrangements.
