CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Many years
ago, the concept
of training and
development were misunderstood and not given full consideration
in most Nigeria organization. Today the situation has change totally, such that
many organization, business and non business organization has come to realize
the need for training and development of employee as vital for organization
development and operation.
Training and
development has started since the existence of man, as the action of man is
directed on what to do and when to do it. Just as a little child is trained on
various ways of walking, standing and sitting, it is done in order to develop
the child with skills to adapt to his environment. The above statement is
applicable to an employee, in order to train him so as to be able to adapt to
the environment and organization which he finds himself. With this, it is clear
that every organization need to train its employee so that there will be
improved growth and productivity. According to Abolo, E.M. (2000), Banking
business in Nigeria started in 1892 by African Banking Corporation. The bank
was taken over by now standard bank, now First Bank in 1894.
The two expatriate
banks dominated the banking scene until 1933, when National bank of Nigeria was
established. Many indigenous banks were established between 1929.
But most of them failed due to probably, lack of training and development. Only
three indigenous banks and the two foreign banks survived the period, by 1952,
the first bank ordinance was introduced, it stipulated the minimum capital
based and licensing for banks. The period that followed, 1952 to 1962 and 1970,
there was no new banks establish in Nigeria, presumably because of the impact
of regulations and the civil war (1967 –1970).
The periods of 1959 –1986
witnessed the era of regulation. The central bank of Nigeria was established in
1969 with the aim to promote and integrate the Nigeria financial system. The
central bank of Nigeria encouraged the development of money and capital
markets. It also encourages the banking industry. Other useful development
within the period that affected human resource development in banks is:
The companies Decree
(1968). Which made it mandatory for all companies in Nigeria, including banks
to register locally and b subjected to Nigeria laws? Indigenization Decree (19720, which introduced
the system of deliberate Nigerianization.
The acquisition of
controlling shares in the three big expatriate banks. The period 1986, to date
is called the second Banking Boom Era, because of the rapidity with which banks
were established due to deregulation of the economy. The
government and private sector rely on bank for allocation of human resources.
In 1986, banking industry had 12(twelve) merchant and 29(twenty-nine)
commercial banks. By December 1990, there was 48(forty-eight) merchant banks
and 58(fifty-eight) commercial banks apart from 5(five) development banks
established in 1989. A unit banking system meant mainly for rural communities
started springing up towards the end of 1990. As at may 1991, there were
120(0ne hundred and twenty) merchant and commercial banks excluding central
bank of Nigeria, four development banks, people banks and community banks.
The federal
savings bank was
recently converted to
what they call
a whole “commercial banks”
instead of being a the industry and financial system as a whole has over
stretched the management cadre of banks. It has created upliftment and promotion
for many staff training and retraining to maintain a high level of competence
within the industry.
1.2
STATEMENT OF THE PROBLEM
Before the establishment
of central bank in 1959, training of Nigeria bankers was not taken serious by
most banks. Especially the foreign owned banks. In every organization or sector
all over the world, the management sets up the organizations goals and ways of
achieving these goals (First Bank of Nigeria Plc).
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