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  • Strengthening credit governance critical to microfinance banks, FITC declares

    Strengthening credit governance critical to microfinance banks, FITC declares

    Continuous education of microfinance bank leaders to strengthen credit governance and strategic resilience has been described as a boardroom imperative.

    This, according to the Financial Institutions Training Centre (FITC), is hinged on the fact that the realities of today’s financial landscape are unambiguous and credit risk is evolving faster than traditional oversight models can adapt.

    The centre noted in a statement yesterday that with borrower defaults surging, inflationary pressures eroding portfolio quality, and technology-enabled lending creating unprecedented exposure, the ability of boards to anticipate, mitigate, and strategically manage credit risk had become a decisive determinant of institutional survival and competitive relevance.

    The centre stated that it was in response to these dynamics, that FITC, a foremost governance, risk, and leadership capacity-building institution for the financial services sector, hosted the 2025 edition of its Continuous Education Programme (CEP) to equip boards and executive management of microfinance banks with the foresight, frameworks, and tools required to lead in an era of complex credit risk.

     It recalled that the event held from July 2 to 3, 2025 in Lagos, brought together 43 senior decision-makers from 16 microfinance banks, represented by board chairpersons, managing directors/CEOs, non-executive directors, legal advisers, and functional heads, describing the representation as a mix reflecting the reality that effective credit governance required seamless board–management collaboration.

    The event, the statement noted, was delivered in collaboration with the Central Bank of Nigeria (CBN) and the National Association of Microfinance Banks (NAMB), whose contributions complemented FITC’s leadership in programme design and delivery.

    FITC noted that it had become necessary to continually remind players in the sector to embrace and entrench the lessons taught and learnt, always remembering that the 2025 CEP was designed to address one of the most pressing issues facing the microfinance sector: the urgent need for boards to move beyond procedural compliance toward active strategic stewardship of credit risk.

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    The statement urged players in the sector to always be guided by the very fundamental lessons offered in the goodwill message delivered by the FITC’s Managing Director/CEO, Dr Chizor Malize, which highlighted FITC’s tailored director-level programmes and its Board Evaluation Services, which MFBs could use to maximise the benefits of FITC’s research, advisory, and capacity-building offerings.

    Malize had stressed the need for operators for operators to be guided by the views expressed by experts, particularly contributions from the Executive Secretary of NAMB, Mr Eddy Orok, who in his keynote address, underscored continuous education of board and senior management, noting that the programme by FITC was of strategic value in shifting credit profiles, governance expectations, and rising digital threats in the microfinance

    The statement also reminded players of the need to continually refresh their knowledge in lessons learnt in Advanced Credit Risk Diagnostics, Strategic Loan Restructuring, Digital Credit Risk Oversight, and Inclusive Credit Governance, among others.

    The statement also reminded players of the need to always reflect on some decisions taken at the 2025 CEP event, which stressed the necessity to always: Define and review credit risk appetite regularly; implement robust early-warning systems for timely risk identification and intervention; formalise Loan Restructuring Policies; establish remedial credit units, among others.

  • Nigerians lose ₦42bn to POS, mobile fraud in Q2 2024

    Nigerians lose ₦42bn to POS, mobile fraud in Q2 2024

    A new report from Nigeria’s Financial Institutions Training Centre (FITC) has shed light on a rising wave of fraud that cost Nigerians ₦42 billion between April and June 2024.

    The report highlighted how fraudsters targeted Point-of-Sale (POS) systems and mobile devices, with fraudulent activities involving the technologies reaching alarming levels.

    The second-quarter report of 2024 recorded 11,532 cases of fraud, with a total value of ₦56.3 billion, marking a sharp increase from ₦34.8 billion in the first quarter. Out of this, ₦42.6 billion was successfully stolen, while financial institutions managed to recover ₦13.7 billion.

    The report showed mobile fraud was the most prevalent, responsible for 33.4 percent of the reported incidents, followed by POS-related fraud at 24.6 percent.

    These forms of fraud, it underlined, include scams carried out through mobile apps and internet banking platforms.

    Web-based fraud accounted for 16.9 percent of the cases, underlining the growing sophistication of cybercriminals.

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    The FITC report also noted that most of the losses occurred at the bank branch level, where 95 percent of the total fraud value, approximately ₦54 billion, was recorded.

    According to FITC, this points to a troubling increase in insider involvement, with 49 employees dismissed for their role in these schemes during the quarter.

    The report indicated fraudsters continue to exploit weaknesses in both modern and traditional systems despite advancements in digital security.

    While card-related fraud declined by 31.8 percent, there was a notable surge in cheque and cash fraud, underscoring the adaptability of criminals in Nigeria’s financial sector.

    The FITC report urged financial institutions to adopt more sophisticated tools, such as artificial intelligence, to combat increasingly complex fraud schemes.

    It also emphasised tougher regulatory oversight, continuous employee training, and enhanced security protocols as crucial steps in safeguarding the sector.

    Recall that as Nigeria continues to digitise its economy, the surge in fraud highlights the ongoing struggle between financial institutions and the evolving tactics of cybercriminals.

  • FITC marks IWD with Diamond Women Network inauguration

    FITC marks IWD with Diamond Women Network inauguration

    FITC, the world-class, innovation-led, and technology-driven knowledge institution has marked the 2024 International Women’s Day (IWD) with the unveiling of Diamond Women Network, meant to project the kind of female leadership FITC wants to present to the world.

    The FITC Diamond Women Network was inaugurated to empower women within FITC workforce into achieving their full potential in both professional and personal lives.

    Unveiling the scheme at the fourth edition of the FITC International Women’s Day celebration, held virtually and physically in Lagos, and themed: Inspire Inclusion: Empowering Women in the Workplace, Managing Director/CEO of FITC, Chizor Malize, described the FITC Diamond Women Network as an excellent and strategic Employee Engagement Initiative created to empower every woman within FITC.

    The scheme is also expected to foster meaningful connections at work and build genuine relationships with colleagues that are life changing, impactful and enhance their wellbeing.

    The event was attended by distinguished personalities and industry leaders across the financial service, consultancy, media and FMCG amongst others such as Dr Toyin Sanni, Olusegun Zacchaeus, Dr Adetu, Malik Afegbua.

    In her compelling opening address, Malize, underscored the profound significance of this year’s theme, “Inspire Inclusion”. A key focal point of her address was the imperative to not only celebrate the strides made in advancing gender equality and women’s empowerment but also to introspect on these achievements and actively work towards fostering gender parity in the workplace.

    Emphasizing the essence of driving female inclusion, Malize articulated the commitment of FITC to intentionally cultivate a workplace that empowers women and embraces the diversity within its workforce, currently maintaining a balanced ratio of 51% women to 49% men. She passionately expressed, “we believe women are change drivers, champions of growth, and catalysts for quality and excellence.”

    Malize said: “Women have always been compared to diamonds not only because they sparkle but because of how valuable they are. At FITC, we do not overemphasize the value of every woman, we understand that every woman like every diamond needs to be refined and polished to reveal her true potential, which we believe leads to their true empowerment”.

    According to her, empowering women is fundamental to the health and social development of families, communities and countries, adding that when women are living safe, fulfilled and productive lives, they can reach their full potential. Also, by contributing their skills to the workforce, they help fuel sustainable economies that benefit societies and humanity at large.

    “The objectives of the network are to foster meaningful connections at work and beyond work by building genuine relationships with colleagues and creating support systems that enhance wellbeing. Empower women within the organization by undertaking programs for impact. Provide mentorship opportunities for learning and development and to build future leaders and successors. Inspire women to become better versions of themselves,” she said.

    Concluding her address with a thought-provoking challenge, she posed the question, “What are you doing to identify women of quality and create a space for them at the table?” She urged everyone to earnestly engage in advocacy within the realm of work, advocating for women through mentoring, coaching, and actively promoting, inspiring, and pushing women into roles and responsibilities that amplify their contributions. The call to action resonates as a powerful directive to contribute collectively to the advancement of gender equality and inclusivity in all spheres of professional life.

    The event further unfolded in three important segments: a keynote address delivered by the distinguished guest speaker Dr Toyin Sanni CEO Emerging Africa Group, a thought-provoking panel discussion and the official launch of the FITC Diamond Women Network. The panel segment featured a dynamic group of industry leaders who provided invaluable insights into the role of inspiring women in the workplace. The panel session moderated by Malize featured Olusegun Zacchaeus Partner PwC West Africa, Dr. Janet Adetu CEO JSK Consulting Group, Malik Afegbua CEO Slick city Media.

    In her keynote address, Dr. Sanni, commended FITC for its impactful work in building capacity across sectors in her keynote address. Reflecting on International Women’s Day (IWD), she emphasized the theme, “Inspire Inclusion,” addressing challenges women face in the workforce, such as equal pay, leadership opportunities, and biases.

    Dr. Sanni highlighted global gender disparities in laws and the economic benefits of closing the gender gap. Stressing the need for men as advocates, she called for legal reforms, equitable policies, and supportive social structures. Intentionality was emphasized by all speakers, focusing on creating an inclusive workplace by dismantling biases, promoting women into leadership, normalizing flexible work, and ensuring pay equity. Dr. Sanni concluded by acknowledging the resilience of women, urging them to actively break down barriers and work together towards a future of true equality and inclusion.

    On her part, Dr Adetu, highlighted the significance of personal branding in fostering inclusion. She encouraged individuals to assess their executive presence and take charge of their professional spaces.

    Zaccheaus emphasized the importance of clarity of purpose, productivity, and building a distinct personal brand to overcome challenges and imposter syndrome. He dismissed the idea of glass ceilings, advocating for leveraging technology and solving problems to shape a future where gender distinctions fade away.

    Afegbue urged women to share their stories boldly, emphasizing the power of storytelling in building personal brands and inspiring inclusion.

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    Dr Adetu emphasized the importance of identifying and bridging gaps through empowerment and networking. She outlined ways for women to build confidence, including seeking support, motivation, and inspiration. The 5 As – Attractive, Authentic, Appropriate, Accommodating, and Aligned – were presented as key elements for enhancing executive presence and personal branding. She encouraged individuals to be intentional, authentic, stand out in their environment, be approachable, and align their actions with their personal brand.

    The unveiling of the FITC Diamond Women Network by chief launcher Dr Sanni and Malize was followed by the inauguration of the Excos and induction of all FITC Diamonds.

    As the inductees  took a creed to their commitment, Dr Toyin urged them to include activities such as equipping women reskilling and income generation, also create opportunities to use Ai as it is going to determine the next wave of wealth, job creation.

    In the culmination of the International Women’s Day program impeccably orchestrated by FITC, we witness a resounding triumph that echoes the very essence of the United Nations’ vision for gender equality. FITC’s meticulous approach, blending empowerment, education, and engagement, not only positions the organization as a staunch advocate for women but also as a formidable force propelling the achievement of Sustainable Development Goal (SDG) towards inclusivity and equality.

    The undeniable success of this initiative serves as a testament to FITC’s unyielding dedication to creating a global landscape where every individual, irrespective of gender, not only survives but thrives and contributes meaningfully to society. In conclusion, it is abundantly clear that FITC stands as a beacon of positive change, a catalyst for inclusivity, and a visionary architect shaping a future where diversity is not merely embraced but celebrated as an integral cornerstone of progress.

    FITC is a world-class innovation-led knowledge and professional services firm providing cutting edge Learning, Advisory and Research Services to clients in the Financial Services and other sectors, within and outside Nigeria.

    Established in 1981 as a non-profit organisation limited by guarantee to provide capacity building and serve as a knowledge hub for the Nigerian Financial Services Sector. FITC is owned by the Bankers Committee, i.e., CBN, NDIC, and all deposit money banks in Nigeria.

    For four decades, FITC has been at the forefront of innovative knowledge offerings designed for an array of C-suite executives, directors of banks and other financial institutions.

  • FITC, Nexford University partner to bridge skills gap

    FITC, Nexford University partner to bridge skills gap

    The Financial Institutions Training Center and Nexford University, an online university have partnered to bridge the emerging skills gap in the finance sector.

    This was revealed at the launch of the collaboration at the FITC headquarters in Lagos on Tuesday.

    According to the Chief Executive Officer of Nexford University, Fadl Al Tarzi, the collaboration with FITC has two objectives; to provide training for those outside the finance sector for job opportunities in the sector and secondly to equip those already in the sector with skills that they need to enhance their career mobility.

    “We have two objectives; to help fresh graduates to secure jobs in organisations within the finance sector in Nigeria, essentially, it is qualifying entry-level applicants, so that they are job ready from day one. The second objective is helping existing staff in the financial sector build the skills that they need for social and career mobility, from one position to another position,” Al Tarzi said.

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    He added that “When we think about the disruptions that are happening in the financial sector here or across the world as a result of a number of different trends from Artificial intelligence to cyber security to the emergence of fintechs to mobile banking, these changes are putting a lot of pressure on banks. To respond to those trends, banks need to reskill team members. Maybe 30 years ago, banks would prioritise having more tellers in a branch, because people would walk into that branch to withdraw cash, deposit cash or pay for things in cash so tellers were important jobs 30 years ago, today, a lot more people are moving to mobile banking, online banking, digital currencies basically, so the role of the teller is not quite important as it used to be.

    “So instead of those tellers being let go, the number of transactions being done digitally is increasing, when that happens, it causes a lot of data to be created that requires business analysts and data analysts to analyse them. It also creates a lot of risks because everything is now digital. So banks need to address these risks and the way to do that is through upskilling and reskilling their team, to move tellers to become data analysts. This is a lot more effective for banks to do versus terminating employment and trying to hire new employees.”

    In her comments, the Managing Director of FITC, Chizor Malize said, “The finance sector is the worst hit when we talk about talent migration. Everyone in this room must have started to face some kind of significant reduction in the quality of services from their financial services providers and a lot of times, you hear that a lot of the people have left or migrated. Despite that, there are still a lot of opportunities around. There are still a lot of people who don’t have jobs but the jobs are there. This is to create capacity in the areas of need, some of which include software engineering, cybersecurity, and data analytics. A lot of tertiary institutions do not prepare people for these roles that I have mentioned right now and so you find people leave school and they are not employable. Some who are employable do not have the skill sets in the areas where the jobs are. So, as you can imagine, such a collaboration with Nexford helps us through this competence framework and competencies mapping. We are also able to find areas of opportunities and gaps and provide learning interventions to fill that.”

    For the Country Director, Nigeria, Nexford University, Oghogho Inneh, the collaboration will address the issue of mismatch between available jobs and available skills.

    She said, “It is not a shortage of jobs, it is that there is a mismatch between the skills ofpeople out there searching for jobs and the jobs that are available. I think that the project by virtue of creating opportunities for people to get skilled, get upskilled, we can start to see that unemployment addressed.”

    It was revealed that the training program has been specifically designed for the Nigerian market and will be delivered solely online via the university’s platform.

  • FITC CEO Newman receives Thomas Gilbert Award in US

    FINANCIAL Institutions Training Centre (FITC) Managing Director/Chief Executive Officer, Dr. Lucy Newman has been honoured in the United States  (US), with the prestigious Thomas F. Gilbert Distinguished Professional Achievement Award.

    The award ceremony, which held at the International Society for Performance Improvement (ISPI) Annual Awards Luncheon in US, was chaired by ISPI President, Scott Casad, who became the Immediate Past President at the Conference, which heralded the beginning of Rose Nixon as President.

    The Newman‘s recognition came close to the end of her two terms of five years each at the FITC and recognised her progressive contribution to the field, from 2001 to date.

    Newman, who spoke at the ceremony, said she will carry the award with all the honour and dignity it deserves. She is the first to receive this award from outside North America, the youngest recipient so far and the 30th recipient since the award was established in 1991. The late Dr. Thomas F Gilbert is acclaimed Father of the field of Human Performance Technology, the founding principles of the International Society for Performance Improvement (ISPI).

    FITC has, under Newman, continued to provide premium quality training, consulting and research services to the players in the financial services sector and related industries within Nigeria and across Africa.

    She joined ISPI as an International member in 2000, earned her Certified Performance Technologist (CPT) designation early 2008. She was invited to join the 10-person International Task Force created by ISPI Board in 2008 to plan ISPI’s global expansion. She became an ISPI Life member, in 2009.

    Newman was the first elected International Director on the Global Board of ISPI, in the society’s 52 years from inception in 1960, that was neither North American nor European. In her role as an International Director on the Global Board, from 2012 – 2014, she represented ISPI members in 48 countries outside the United States. Dr Newman has published articles and book chapters in the field of Human Performance Technology, dating back several years. Her doctoral dissertation published in 2008, is also on Leadership and Performance.

    The ISPI is a non-profit association for performance improvement professionals dedicated to improving individual, organisational, and societal functioning, productivity, and accomplishment in the workplace. The Certified Performance Technologist (CPT) designation Dr Newman bears, is awarded by the ISPI, to individuals whose work demonstrates their ability to get results by systematically identifying and removing barriers to performance.

    FITC is the apex management development institution in the Nigerian financial services sector which operates as a non-profit organisation limited by guarantee. Its membership is consisted of institutions within the Nigerian Banker’s Committee. FITC’s continental footprints shows that its services are increasingly being patronised by operators and regulators within the financial services sector especially, the banking industries in Togo, Ghana, Liberia, Sierra Lone, Uganda, Tanzania, Cote d’ Ivoire, Mozambique, Zambia and Ethiopia.

  • FITC trains 65,000 bankers, others in 38 years

    The Financial Institutions Training Centre (FITC) has provided training, consulting and research services to 65,000 bankers,  other players in the financial services sector and related industries in its 38 years of operation.

    The FITC Managing Director/Chief Executive Officer, Lucy Newman, who will next month, be honoured in the United States of America (USA) with the Thomas F. Gilbert Distinguished Professional Achievement Award, said 6,900 of the beneficiaries of the institute’s trainings are directors of banks and other financial institutions. Some of the trainings focused on corporate governance, board evaluation and other basic issues meant to bridge skills gap in the industry.

    Newman was notified by the President of the International Society for Performance Improvement (ISPI), Scott Casad over the award holding at an ISPI Annual Awards Luncheon in the US.

    The recognition of Newman comes few weeks to the end of her two terms of five years each at the FITC. She was selected for the 2019 Thomas F. Gilbert Distinguished Professional Achievement Award based on strong recommendations from the ISPI Awards Entries Review Committee and unanimous decision by the ISPI Global Board.

    After receiving the award, she will respond to an audience of 2000 to 2500 Performance Improvement Practitioners across industry clusters, from over 50 countries and six continents.

     The ISPI, a non-profit membership organization believes in “Being Better Matters.” It helps people and organizations make a difference to their co-workers, clients, communities and world.

    FITC is the apex management development institution in the Nigerian financial services sector which operates as a non-profit organisation limited by guarantee. Its membership is consisted of institutions within the Nigerian Banker’s Committee.

    The agency’s continental footprints show its services are being patronized by operators and regulators within the financial services sector especially, banking industry in Togo, Ghana, Liberia, Sierra Lone, Uganda, Tanzania, Cote d’ Ivoire, Mozambique, Zambia and Ethiopia.

    FITC has under Newman, continued to provide premium quality training, consulting and research services to the players in the financial sector and related industries within Nigeria and across Africa. It has equally, promoted the practice of good corporate governance and bridged knowledge-gap in the sector.

    It may be recalled that last year, Newman also received the Credit Management Director of the Year Award from the Institute of Credit Administration (ICA). The ICA said: “It had followed Newman’s career development and exceptional contributions to the development of credit business in Nigeria and praise her passion for professional credit management practices, which led to the growth of credit economy and recognition given to her”.

    With the 2019 Thomas F. Gilbert Distinguished Professional Achievement Award, Newman whose tenure as MD/CEO of FITC ends early May 2019, will be the first person to receive this award from outside North America, the youngest recipient so far and the 30th to receive the award, since it was introduced in 1991. The 29th and immediate past recipient of the award before Newman, is  Roger Chevalier, CPT who received the award in 2016.

    Newman joined ISPI as an International Member in 2000 and got certified as a Certified Performance Technologist (CPT) in 2008 for her demonstration of ability to get results in her work by systematically identifying and removing barriers to performance.

    Newman was invited to join the 10-person International Task Force, created by ISPI Board in 2008, to plan its global expansion.  She became a Life Member of ISPI in 2009.

    She was the first elected  International Director on the Global Board of ISPI that was neither North American nor European, in ISPI’s 52 year from inception in 1960.  In her role as International Director on the Global Board from 2012 to 2014, she represented ISPI members in 48 countries outside the United States.

    Over this period, she was able to make presentations and share the perspectives about the practice of Human Performance Technology at the ISPI EMEA Conferences in Prague and Tiblisi as well as at the ISPI International Conference in Reno, Nevada. She is currently a member of the ISPI Certifications and Accreditations Governance Committee (CACG).

    As she receives this award, members and stakeholders of ISPI in over 50 countries outside North America, will likely identify with her and be pleased. FITC is an Institutional Member of ISPI. Over this period, the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) also became Advocates of ISPI, in support of Dr. Newman’s tenure on the Global Board of ISPI from 2012 to 2014.

  • CIBN, FITC to hold corporate governance workshop

    As part of efforts to ensure the furtherance of ethical standards and practice of good corporate governance among banking and finance professionals, the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with the Financial Institution Training Centre (FITC), is set to organise an intensive workshop on “Building an Ethical Organisation Culture”.

    The workshop, which will be facilitated by International Finance Corporation (IFC), United Kingdom (UK)  authorised trainers, using the IFC curriculum on Ethics of the Banking Profession as applicable to governance of banks, will hold on May 8 and 9 in Lagos.

    Target participants for the Workshop are top level and senior executives of banks and other financial institutions, their subsidiaries, directors of regulatory institutions and other employees in roles being directly supervised by executives on the board. The Workshop is already receiving nominations from financial institutions across the country.

    The scope of the curriculum to be covered include Overview of Corporate Governance, Business Ethics, Building and Ethical Culture, Disclosure and Transparency, among others.

    The delivery methodology is a creative mix of the traditional classroom style lecture, relevant case studies, syndicate group discussions and role plays.

    At the end of the programme, participants are expected to be able to put in place structures and processes that drive the right ethical culture, in the face of increased consciousness for brand value from good corporate citizenship.

  • FITC trains HR managers on workplace diversity

    The Financial Institutions Training Centre (FITC) yesterday held a workshop for Human Resources (HR) managers. The training was to enlighten them on the gains of  promoting diversity in the workplace.

    Speaking at the event held in Lagos, FITC Managing Director/CEO, Lucy Newman, said the 2018 FITC Focus Group Discussion with the Heads of Human Resources and Heads of Learning in the FITC was to deepen the knowledge of human resource managers on workplace diversity.

    It was also meant to create enabling work environment where every staff can contribute meaningfully to the company’s growth.

    Newman said FITC is a special purpose-driven organization with a mandate to continually build capacity and advocate for best practices in the financial services sector and economy at large.

    “One of our main objectives is to promote and advance the knowledge and practice of banking and finance in Nigeria and Africa sub-region, as may be required. FITC periodically organises the Focus Group Sessions to share and aspire for improvements to respective organisations represented and FITC’s customised services,” she said.

    Accordingto Newman,  the event holds annually, to review feedback on services, improvement areas and any new skills for the attention of the associates.

    “In 2012, in furtherance of an aspiration to share emerging knowledge and co-design services, we added the edition with Heads of HR and Heads of Learning, with a knowledge sharing insert. This year, we are extending the conversation by discussing the topic Managing Diversity in the 21st Century Work place,” she said.

    Speaking further, Newman said FITC has over the years, executed several initiatives to remain relevant to its stakeholders and meet the dynamic needs of the various industry within the sector.

    The guest speaker and former President, Chartered Institute of Personnel Management of Nigeria (CIPMN), Abiola Popoola, said great companies are run through vision and policy, which act as compass to all employees. He said there is need for HR mangers to clarify things for the employees and also respect everyone’s ideas.

     

     

  • FITC, FAA of Malaysia sign MoU to train bankers

    The Financial Institutions Training Centre (FITC) yesterday signed a Memorandum of Understanding (MoU) with the Finance Accreditation Agency (FAA) of Malaysia to train Nigerian and African bankers. The pact, which was on Certified Training Professional (CTP) Programme, will enable FAA and FITC enhance the skills and knowledge of bankers within the continent.

    Managing Director/CEO, FITC, Lucy Newman, said the partnership, which is backed by the Central Bank of Nigeria (CBN) will enable both parties, facilitate and deliver impactful trainings that meet global best practices.

    She said that Nigerian banks are beginning to play in the global markets, hence the need to enhance the skills of bankers to meet  global standards.

    Newman said the partnership will give banks in foreign jurisdictions quality assurance on the competence of the Nigerian workforce. She said the backing of FAA on FITC courses is good for Nigerian banks playing in foreign countries.

    She said that FITC has trained over 60,000 participants in its professional programmes, 6,700 of them from the directorate level. According to her, 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 said that FITC has also commenced the process of accrediting 15 of its core courses with the FAA while 10 of the courses are currently being assessed for accreditation by FAA.The remaining five will be accredited at the beginning of 2018.

    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.

    Director, Strategic Corporate Relations, FAA, Ulrika Brunner said that FAA is responsible for raising standards and quality of professional learning and development in the financial services industry.

    She explained that FAA is  creating highly skilled and internationally mobile professionals for the global financial services industry.

    The CTP courses are suitable for financial services industry practitioners, with successful participants  recognised as Certified Training Professionals, and will receive a certificate on completion of the course. There willalso be related follow up actions as part of the requirements for certificate.

  • Experts task credit professionals on ethics

    CREDIT professionals have been enjoined to imbibe the culture of ethics and values as these are the ideals by which they would be judged by the rest of the society.

    This was the submission of a cross-section of experts who spoke at a public forum organised by the Institute of Credit Administration (ICA), in Lagos recently.

    Firing the first salvo, Dr. Chris Onalo, Registrar/Chief Executive, ICA, said it behooves credit professionals to ensure they follow credit template strictly rather than cutting corners.

    Echoing similar sentiments, the guest speaker, Dr. Makilolo Isaac Goddey, who spoke on the theme: ‘Ethics and Values in Credit Management’, emphasised the need for good ethical behaviour, saying: “Ethical behaviour is the bedrock of mutual trust. We need mutual trust for the public to trust us because that is consistent with what is right and moral. Ethics and values put our professional values into context.”

    A company, he stressed, “easily go under through bad management and unpaid debts, the latter is determined by the act of omission or commission by the credit administrator.”

    Explaining how to incorporate values and ethics into credit management, Dr. Goddey said: “Staff must be suitably trained, demonstrate necessary level of competence to aid their credit decision just as self-regulation, due diligence, corporate governance should be explored by credit management players to earn public trust.”

    In his remarks, Mr. Andy Ojei, erstwhile Executive Director of UBA Plc, who was the chairman of the occasion, impressed on credit professionals the need to be steadfast.

    The high point of the occasion was the recognition of over 29 fellows of the institute with the prestigious Credit Management Honours Awards.

    Among the recipients was Gimba Ya’u Kumo, Managing Director, Federal Mortgage Bank of Nigeria, Dr. Lucy Surhyel Newman, Managing Director /CEO, Financial Institutions Training Centre (FITC), Anthony Okechukwu Ewelike, Managing Director/Chief Executive, AG Homes Savings & Loans Plc, Mr.Olufemi Awoyemi, founder/CEO, Proshare Nigeria Limited.

    Others recipients were Mr. Sonnie Ayere, founding Chairman/ Managing Director, Dunn Loren Merrifield, Mr. Felix A. V, Managing Director /CEO, Energia Limited, Mr. Ifiesimama Sekibo, Managing Director /CEO Heritage Bank Company Limited, among others.