Regulatory Alerts2012-09-10 | FPR/DIR/CIR/GEN/01/029Assessment of Competencies in the Nigerian Banking
The Central Bank of Nigeria (CBN) has issued a directive to all Deposit Money Banks regarding the assessment of competencies in the Nigerian banking industry. This follows an earlier exposure draft on a competency framework for the sector, where observations were noted and incorporated. Banks have been directed to submit details on staff manning controlled functions listed in Appendix B, along with their academic qualifications, years of experience, other relevant competencies, and any identified skill gaps. This data will aid the Bankers' Committee in identifying potential issues that may impede the effective implementation of the competency framework. Responses are to be submitted by September 14, 2012.
Financial Policy & Rer Central Business Distr P.M.B. 0187 Garki, Abuja.
09-46237401 Tel: .............
E-mail: fprd@cbn.gov.ng FPR/DIR/CIR/GEN/01/029 September 06, 2012 LETTER TO ALL BANKS Dear Sir ASSESSMENT OF COMPETENCIES IN THE NIGERIAN BANKING INDUSTRY Further to the Exposure Draft on the Competency Framework for the Nigerian Banking Industry, issued on June 26, 2012, we advise stakeholders that we have noted and incorporated as appropriate, observations submitted in respect of the exposed draft.
However, there is the need to assess the skills, qualifications, experience and competencies of staff currently occupying controlled functions as provided in Appendix B of the Draft Framework. This will enable the Bankers' Committee identify at the preliminary stages, gaps that would impede the effective implementation of the Framework. It is important to remind stakeholders that the list of controlled functions is not exhaustive as other important roles and responsibilities may be added to it.
Accordingly, all Deposit Money Banks are directed to avail the CBN of the following details: Names of staff manning the controlled functions specified in Appendix B of the Draft framework; i.
Academic and other relevant qualifications of the incumbent staff; ii.
Number of years' experience on the control function, post qualification and general banking experiences; iii.
Other competencies that support the performance of the control functions; and iv.
Details of identified deficiencies in skills, qualifications, experience and competences as v.
well as measures envisaged to remedy the positions within 18 months of the approval of the Framework Your response should reach the Director, Financial Policy & Regulation Department before September 14, 2012. Soft copies of your response may also be mailed to knamugo@cbn.gov.ng.
Y. B. DUNIYA FOR: DIRECTOR, FINANCIAL POLICY & REGULATION DEPARTMENT