SEC DG Pushes for Sustainability, Safety, Soundness of Banking Sector

By Modupe Gbadeyanka

The need to ensure the sustainability, safety and soundness of the banking and finance industry has been emphasised by the Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda.

To achieve this, the capital market expert has advised senior bankers in the nation’s banking sector to mentor the younger generation.

According to him, their commitment to mentoring the younger generation would go a long way in actualising the objectives of the Chartered Institute of Bankers of Nigeria (CIBN)’s mentoring scheme.

Mr Yuguda, who was a guest at the CIBN mentoring scheme tagged Mentoring: Unlocking Career Potentials and Possibilities in Lagos over the weekend, noted that, “Let me use this opportunity to encourage senior bankers to collaborate with CIBN in actualising the objectives of the mentoring scheme. Your commitment to mentoring the younger generation will go a long way in ensuring the sustainability safety and soundness of the banking industry.

“To the young bankers, I enjoin you to make the best use of this rare opportunity! I am confident that with the cooperation of all stakeholders, the CIBN mentoring scheme will be a point of reference for others,” he further said.

The SEC boss stated that to be a successful professional, one must be ambitious, willing to go the extra mile, try to be a value enhancer and must be outstanding.

He said that such a person must be teachable and willing to learn from other persons who are deemed successful in the same career path.

According to him, it is critical for young bankers to be mentored by seasoned senior colleagues as they progress in their careers because the banking profession is predicated on trust and professionalism.

Mr Yuguda said these values could be taught but are actually reinforced when demonstrated by senior bankers and emulated by their younger colleagues.

“Due to the peculiarities of the banking industry, it is easy for young bankers to get distracted with the prestige and sometimes material benefits that come with the profession.

“However, mentorship relationships help to keep such young professionals grounded and focused on building character, advancing their knowledge, growing their professional network and cultivating the right values.

“This is important because what makes success sustainable for a professional is a combination of skill, experience and the right values,” the SEC director-general said.

Earlier, the CIBN President, Mr Bayo Olugbemi, said that the institute had identified mentoring as a potent tool for bridging the gap between learning and doing.

“Esteemed audience, the changing times requires that we do things differently; the changing times require that we do things differently.

“At the CIBN, we believe so much that to maintain safety, soundness and stability of the banking industry, the human capital has a pivotal role to play in this wise.

“We have identified mentoring as a potent tool for bridging the gap between learning and doing.

“In order to uphold ethics and professionalism which is the hallmark of our banking industry and our great institute, accomplished and experienced bankers need to mentor the young and upcoming ones in order to sustain the ideals of our industry,” he said.