Covenant University Signs MoU with CIBN
The Chartered Institute of Bankers of Nigeria (CIBN) has signed a Memorandum of Understanding with Covenant University, Ota and five other institutions of higher learning
The event, which took place on Wednesday, May 15, 2013 at the headquarters of the Institute in Lagos, will ensure the placement of students from Covenant University on a better pedestal in securing jobs upon graduation.
The MoU will see the commencement of activities towards making Covenant University students enjoy automatic exemption from certain subjects upon graduation to become Associate Members of the Chartered Institute of Bankers (ACIB).
Central to the success of the MoU is the registration of all Banking and Finance students of Covenant University as members of CIBN and this will confer waivers for Covenant University graduates, making them write and pass four core subjects to obtain ACIB.
President and Chairman of Council, CIBN, Mr. Segun Aina, in his welcome address said that students, being the future leaders of any nation, are the target of CIBN towards producing a more informed group of bankers for the banking industry.
According to him, “We will continue to do this to strengthen the quality of what the students are taught in school by combining both theory and practice, in readiness to face the world of banking, become better bankers and contribute to the development of banking in Nigeria.”
Mr. Aina commended the Management of Covenant University for the outstanding performance of the University in her short period of existence.
“I want to congratulate the Vice-Chancellor, Professor Charles Korede Ayo, for running the University very well. I am not surprised by what they are already achieving in the Department of Banking and Finance with a doyen in the banking sector, like Professor Joshua T. Ojo, I know they would surpass our benchmarks.”
He further noted that:
“In just over 10 years, they are making waves, I believe this must be credited to the leadership of the University and the quality of programmes they have put together and the way they go about executing them. I have heard very good reports about Covenant University from different quarters.”
Furthermore, the CIBN President stated that the ACIB Banking and Finance Linkage Programme would improve the quality of those that would be graduating from Covenant University and other similar institutions. He affirmed that the MoU would also increase the depth of knowledge of students and improve the quality of those teaching the course.
“This partnership would also help project the image of the University in terms of the students’ readiness to be certified to work in the banking sector,” he concluded.
The Chairman, CIBN Capacity Building and Certification Committee, Barrister Pius Olanrewaju, in his presentation of Covenant University and five other tertiary institutions for ACIB Linkage Programmes, said the institutions were the ones found worthy to establish a linkage programme with at this point by CIBN.
Barrister Olanrewaju posited that his Committee having visited the selected institutions, examined their curriculum and assessed the resource personnel they have on ground, he was not in doubt that Covenant University and the other institutions have all surpassed the minimum benchmarks and standards set by the CIBN.
In his remarks, the Vice-Chancellor of Covenant University, Professor Charles Korede Ayo, said the signing of the MoU is symbolic in a number of ways, especially when one considers that some years back, one of the captains of the banking industry did pronounce that ‘Nigerian graduates are unemployable.’
“Looking at it as at that time, there was virtually no interaction between academia and industry. What we have signed today is a way of bridging the gap, a means of improving the quality of education, and a way of improving the employability of graduates in Nigeria,” he enthused.
Professor Ayo promised the Council of CIBN that as far as Covenant University is concerned, the signed MoU would be protected, cherished, and nourished. He avowed that Covenant will remain open to constructive criticism along the line.
The highpoint of the event was the Execution and Exchange of the ACIB/Degree Linkage MoU between participating parties and their legal representatives. The Management of CIBN also used the occasion to induct the Vice-Chancellor of Covenant University, Professor Charles Korede Ayo as ‘Friend of Chartered Institute of Bankers of Nigeria (FCIB)’.
Present as part of the University’s entourage to the signing ceremony were Distinguished Professor J.A.T. Ojo, The Deputy Dean School of Business, Professor Kenneth S. Adeyemi, HOD, Banking and Finance, Dr. Abiola Babajide, Dr. Kehinde Adetiloye, University Legal Officer, Mrs. Edith Oni-Ojo, Mr. Sunday Jolayemi, members of the Corporate and Public Affairs Unit and students of the Department of Banking and Finance of Covenant University.