CU 29th Inaugural Lecture: Banks Need More Professionals |Omohglobalnews

 

From left Deputy Vice Chancellor, Prof. Olújide Adekeye, Vice Chancellor Prof. Abiodun Adebayo and the Inaugural lecturer, Prof. Ailemen Ochei, Ikpefan

By Omosola Olumide 

Professor Ailemen Ochei Ikpefan, of the Department of  Banking and Finance, College of Management and Social Sciences, Covenant  University, Ota, has said that Banks need more professionals than quacks as being found in banks today.

Prof'. Ikpefan disclosed this  while speaking during the 29th Inaugural Lecture of the university with the theme: "Securing the Financial Health of Nigerian Banks Today For The Future" at the university's chapel, Ota, Ogun State on Friday, April 28, 2023.

Prof. Ailemen Ó. Ikpefan delivering his lecture

He said bankers should not only be professionals but Chartered Bankers who will work, exhibit and exercise diligence, care and adequate skills unlike quacks working in banks'

The professor of banking and finance, said further that the side effect of quacks leads to unconscious act that leads to  major crisis in the banking sector such as; bad/inefficient management, capital inadequacy, credit risk, liquidity, solvency and profitability problems. 

Members of the Senate at the high table

He told the audience that adequate shareholder's fund, bank minimum capital, more emphasis in good corporate governance, basel 111 framework for quality and quantity capital through application should strictly adhere to, adding that Capital Adequate  Ratio (CAR) i.e. ratio of bank strictly follow the Standard Credit Risk Assessment ( SCRA) in order to calculate the risk weighted for unrated bank exposures.

         Some Dons at the event

Prof. Ikpefan also affirmed that leadership and regulatory authorities have vital role to play in the effectiveness and efficiency of banks. For instance, a single  cheque raised by a head led to total collapse of a popular bank in the 80's, he therefore appealed to Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) to ensure strict compliance to rules and regulations by banks without fear or favour.

        Very important personalities at the occasion 

He rounded up the lecture by taxing the regulatory body to be more involved in merger and acquisition of banks, in order to avoid problem associating with post acquisition, continuous monitoring of banking activities and operations and reviewing of minimum capital requirements constantly emphasising that the current capital requirement of N25b is long overdue. 

       Covenant University Chapel Chaplain 

The Deputy Chancellor, Covenant University, Professor Olujide Adekeye expressed appreciation to the Inaugural lecturer for a marvelous job done, the Chancellor Dr. David Oyedepo, his Vice, Prof Abiodun Adebayo, the senate members, the inaugural lecturer wife, Mrs Ikpefan, Representatives from The Bells, Babcok and Crawford Universities, relatives, friends and members of Chartered Institute of Banker's of Nigeria (CIBN).

Covenant University member of the school band