Categories: BusinessOn the Go

Ernest Ebi: A lot of people in Nigerian banking have big titles but no experience

Oluseyi Awojulugbe

Ernest Ebi, chairman of the board of Fidelity Bank, says there are a lot of people in the Nigerian banking sector with big titles but no experience.

In an interview published in the bank’s quarterly magazine, Ebi said there is an urgent need to address the quality of human capacity in the sector.

“I agree with you that the quality of human capacity in the sector needs to be urgently addressed. You will recall that there were only a few banks in Nigeria early in the 1980s and the banking skill set was adequate,” he said.

“However, the industry growth in terms of brick and mortar spread was faster than the available skill set.

“Banks were licensed without taking into consideration the availability of skilled personnel required to drive them profitability hence they ended up promoting people beyond their competence level.

“In our own time, before you resume at the bank, you go on a long usually six months to one-year training. During that time, you do classwork and you do practical work to internalize what you have learnt.

“Now to the issue of competition in hiring personnel and poaching; we see a staff who has just been promoted as Assistant General Manager (AGM) in a bank, being offered the position of a Deputy General Manager in another bank with little or no work experience at that level.

“As a result, there are a lot of people in the industry with big titles but little or no experience.”

Speaking on the outlook for 2018, Ebi said he expected the year to be better than 2017 although there is a need for urgent economic reforms.

“I agree with IMF that coherent and comprehensive economic reforms are urgently needed in the country. Although the outlook for growth has improved, the climate still remained challenging,” he said.

“Also moving towards a unified exchange rate should be pursued urgently.”

Recent Posts

  • On the Go
  • Top Stories

‘I left my footprints on 3rd mainland bridge’, ‘I’ll get home before dawn’ – reactions to traffic lockdown across Lagos

A diesel-laden truck suffered a mishap on Otedola Bridge in front of Magodo, Lagos state on Friday and in less…

7 hours ago
  • On the Go
  • Top Stories

Port Harcourt ‘serial killer’: What I told a pastor about my actions

Gracious West, the alleged serial killer in Port Harcourt, Rivers state, says he cries and regrets his actions anytime it…

9 hours ago
  • General
  • On the Go
  • The Nation

Lawan: We’re hungry, thirsty to receive 2020 budget proposal

Senate President Ahmad Lawan says the national assembly is "hungry and thirsty" to receive the 2020 appropriation bill from the…

9 hours ago
  • Inside Nigeria
  • Lagos
  • On the Go
  • Top Stories

PHOTOS: How an accident crippled vehicular movement across Lagos for 6 hours

A diesel-laden tanker fell on Otedola Bridge in Lagos state on Friday evening, worsening the traffic jam. Although emergency responders…

9 hours ago
  • On the Go
  • Top Stories

FG charges Sowore for ‘insulting Buhari’

The federal government has charged Omoyele Sowore for "conspiracy to commit treason".  In the suit dated September 19 and filed…

10 hours ago
  • Life and Living
  • On the Go

I was never convicted of fraud, says Lagos-based lawyer

Ifeyinwa Morah, a Lagos-based lawyer, has denied rumours that she was convicted for fraud. In an interview with THISDAY, the…

11 hours ago