CIBN, NBA sign MoU on knowledge-sharing

The Chartered Institute of Bankers of Nigeria (CIBN) and the Nigerian Bar Association (NBA) have signed a Memorandum of Understanding (MoU) on knowledge- sharing.
The News Agency of Nigeria (NAN) reports that the pact was signed at the World Conference of Banking Institutes (WCBI), which ended on Friday in Lagos
The Secretary-General of the NBA, Mr Isiaka Olagunju, said the two bodies would soon commence courses on law, loan processing and documentations to enable them function maximally.
“The collaboration is very important to build the capacities of bankers, who are not knowledgeable in the field of law and lawyers who are not knowledgeable in the practice of banking.’’
He said that if the terms and tenets of the MOU were strictly complied with, there would be less rancour in the banking sector because every banker would know how to enter into any agreement.
“A banker will know laws guiding loan processing, likewise, if a lawyer wants to handle a banking case, he will know the extent to go.
“In the next five years, 70 per cent of banking cases would have been settled out of court because the lawyer can advise clients to toe the part of honour, instead of years in court,” Olagunju said.
The President of the CIBN, Prof. Olusegun Ajibola, said the institute would continue to collaborate with other bodies.