The Central Bank of Nigeria (CBN) in recognition of its developmental role and in the exercise of its oversight function over the Financial Services Industry, has undertaken to intervene in the postgraduate programmes of three selected universities; Ahmadu Bello University, University of Ibadan and University of Nigeria. Through a partnership postgraduate programme called the Central Bank of Nigeria Collaborative programme CBN – CPP
The CBN Collaborative Postgraduate Programme (CBN-CPP) is the Bank’s flagship intervention in the education sub-sector which is aimed at producing a critical mass of well-educated postgraduate degree holders in the fields of Accounting, Banking and Finance, Business Administration and Economics for the financial services industry, and the Nigerian economy as a whole. The CBN-CPP is housed at the Central Bank of Nigeria Centres of Excellence located in each of the Universities.
The human capital needs of this quantum leap from where we are at the moment are such that the quantity and quality of currently available human capital in the country’s financial sector may be unable to cope. If this vision is to be realized, there is an urgent need for necessary steps towards the significant enhancement of existing human capital in the financial sector. Thus, the strength of any financial system lies in the ability of its people to continually learn and apply knowledge, skills, and cutting-edge technology.
The programme content is designed to address widely acknowledged gaps in skill and competency requirements within the industry, taking cognizance of existing domestic capacities and their trends, and in relation to the experiences and trends of global benchmark countries. The idea is to create new programmes that will achieve purposeful alignment of programme contents with identified skill gaps and challenges in relation to the objectives of a modern and global financial system.
It is an indisputable fact that the financial sector oils the National economy. Hence, the overall success of the national reform program will, to a large extent, depend on the reform of its financial sector. In fact, it is a widely accepted view that the cost of failure in financial sector reforms, due to lack of requisite manpower could be so severe as to hamper country’s overall drive towards becoming a highly industrialised economy.
It would, no doubt, impede the realization of other targets and goals of the National economic reform programme, given the pivotal role of the financial sector. Hence, the aim of the CBN-CPP is to produce graduates that have the requisite skills for the financial sub-sector and the entire economy at the level of competence comparable to top business schools across the globe.
Focus of The CBN Collaborative Postgraduate Programme: CBN-CPP
Against this background, the Centres would focus on: teaching and capacity building, research, outreach, and staff development
Teaching and Capacity Building
Centres across the participating institutions boast of Faculty staff who are leaders in their fields of specialization with practicing/consulting field experiences in addition to vast teaching and research experience with publications in reputable journals. The Centres would also engage the services of academic staff/industry practitioners across the selected disciplines within and across the Universities, as well as, staff of international institutions as may be found necessary. The academic staff across the Centres are most qualified to provide graduate training leading to Masters and PhD degrees and short-term industry and policy targeted programmes.
The programme seeks to ramp-up the level and quality of research, particularly Policy oriented research, at postgraduate level in Nigerian Universities. Consequently, the programme will engage in multi-disciplinary collaborative research on major policy issues relating to the financial sector in particular, and the national economy in general.
Given the importance of integrating theory with practice, the programme encompasses an outreach segment. The Centres shall constantly organise conferences, seminars, guest lectures, and the dissemination of findings of policy research. The purpose is to ensure interaction among both participating & non-participating institutions, the professional bodies, private sector, other research and training centres within and outside Nigeria. Staff of the Centre will also be engaged in consultancies for government, international agencies and the energy industry.
The outreach programmes would also provide the platform through which benefits would flow from the collaborating universities to others, with outreach segments that focus on capacity building programmes for lecturers and students from non-participating institutions through lectures, short courses, symposia, etc.
The Centre will encourage constant development of the capacity of its faculty staff through refresher courses to ensure cutting edge research and teaching skills.
The objective of the programme
Our objective is to produce a critical mass of well-educated postgraduate degree holders in the fields of Accounting, Banking and Finance, Business Administration and Economics for the financial services industry, and the Nigerian economy as a whole.