Categories: BusinessOn the Go

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

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
  • The Nation

Chidoka: INEC chairman consistently told us of a server

Osita Chidoka, an agent of the Peoples Democratic Party (PDP), says Mahmood Yakubu, national chairman of Independent National Electoral Commission…

7 hours ago
  • Your Say

The bare-faced lies, fallacies against Osinbajo

BY ORITSEWUMI ADOLOR I started following Vice President Osinbajo closely in my last year in University before I returned home…

7 hours ago
  • Viewpoint

My Lord, chief justice Ibrahim Tanko you gaffed authoritatively!

The supreme court is an “ecclesiastical order’’; it sits on high looking down on the ''lowly''. It dispenses in inexorable…

9 hours ago
  • On the Go
  • Sport
  • Top Stories

Algeria break 29-year jinx, wins 2019 AFCON

Algeria pipped Senegal 1-0 to claim their second Africa Cup of Nations (AFCON) trophy at the Cairo International stadium. The…

10 hours ago
  • On the Go
  • Sport
  • Top Stories

Ighalo joins Rashidi Yekini in AFCON golden boot hall of fame

Odion Jude Ighalo has won the highest goal scorer award at the just concluded 2019 Africa Cup of Nations on…

10 hours ago
  • Business
  • On the Go

CBN to use mosques, churches for financial literacy

The Central Bank of Nigeria (CBN) says it will partner with churches and mosques to improve the financial knowledge of…

12 hours ago