As part of efforts to provide international training for Nigerian and African bankers, the Financial Institutions Training Centre (FITC) has signed a Memorandum of Understanding (MoU) with the Finance Accreditation Agency (FAA) of Malaysia.
According to the Managing Director and Chief Executive FITC, Lucy Newman, the partnership would enable both parties, facilitate and deliver impactful trainings that meet global best practices.
She said following the recognition of Nigerian banks in the global markets, there was a need to enhance the skills of bankers to meet global standards.
“The partnership will give banks in foreign jurisdictions quality assurance on the competence of the Nigerian workforce. The backing of FAA on FITC courses is good for Nigerian banks playing in foreign countries,” she said.
Newman however disclosed that there would be no introduction of new courses, adding that the former ones would be upgraded to meet international standards.
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According to her, “The courses to be accredited by FAA include Basic Credit Analysis, Intermediate Credit Analysis, Advanced Credit Analysis, Problem Loans Management, Enterprise Risk Management among others.”
While giving the assurance of quality training for the bankers, she stated that there would be no increase in the fees.
She also disclosed that FITC had trained over 60,000 participants in its professional programmes with 6,700 of them from the directorate level.
“FITC has a pool of over 450 resource persons from different parts of the world that provide the needed knowledge to participants in its courses,” she added.
In her remarks, the Director, Strategic Corporate Relations, FAA, Ulrika Brunner, stressed that FAA was responsible for raising standards and quality of professional learning and development in the financial services industry.
According to her, FAA is creating highly skilled and internationally mobile professionals for the global financial services industry.
Also, the Head, Business Development and Strategic Corporate Relations, FAA, Arvind Sreekaran, who expressed pleasure over the collaboration assured that there would be increased quality of training for the bankers.
