Banks Set Up $20m Human Capital Development Fund To Address ‘Japa’ Syndrome—CIBN President

The President of the Chartered Institute of Bankers of Nigeria, Kenneth Onyewuchi Opara, has said that the $20 million Human Capital Development Fund set up by the banking industry will be used to partly address the mass migration of Nigerian youths in search of greener pasture abroad.

Opara who is the 22nd president of the institute said this on Friday during his welcome address at the 58th Annual Chartered Institute of Bankers Dinner.

The Dinner marks the grand finale of the 60th anniversary of the CIBN. The dinner is the most anticipated gathering of bankers in Nigeria.

The president in his address expressed concern about the manner in which youths are leaving the country.

He said the banking industry hopes that the vision to establish the $20m fund to train graduates will help reduce the rate of ‘japa’.

Opara said, “The take-off of the Human Capital Development Fund which is a precursor to the banking school project to be sighted in Abeokuta, Ogun State. We are excited about the contribution of the bank.

“The Human Capital Development Fund, this fund will be used for training graduates and capacity building of market trade workforce for the financial services industry as well as upscaling the existing workforce, retooling and retraining and that essentially is our own way to address the japa syndrome.”

The fund is a $20 million human capital fund for the purpose of grooming and nurturing a pool of financially innovative market-ready workforce for the Nigerian Banking Industry.

The banking school project will be constructed on the institute’s six hectares of land in Ogun State.