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FITC seals pact with FAA on skills gap in financial services industry


Financial Accreditation Agency

The Financial Institutions Training Centre (FITC) has signed a memorandum of understanding with its Malaysian partner, Financial Accreditation Agency (FAA) to bridge the gap of talents in the financial services industry across Africa.

The Managing Director and Chief Executive Officer of FITC, Dr. Lucy Surhyel Newman, disclosed this at a press conference to announce its new certified competency- based courses on Certified Training Practitioner (CTP).

According to the centre, the plan would enhance the quality of training to measure up with international benchmark within the financial markets.


Besides, as more banks are beginning to feature in the international market, it is pertinent to give them credentials that are globally acceptable, as majority of the institutions are already defining the standards in those markets in which they operate, especially in Africa.

Newman said the programme, which would start next year will include 15 accredited courses such as basic credit analysis, intermediate credit analysis and advance credit analysis. Others are credit risk, operational risk management, compliance risk and financial risk.

According to her, the issue is for FITC to focus on the benefits of the collaboration for the Nigerian banking industry.

She added that the institution has the capacity to move resources to those jurisdictions and deliver the same quality for these banks.

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