Nigerian institutions need to open up to global exposure, says Oladele

Esther Taiwo

Executive Secretary, Institute of Entrepreneurship, Dr. Rotimi Oladele, has said Nigerian institutions need to open up to global exposure.

Oladele, who was the chairman at the Lagos State University Faculty of Management Sciences Guest Lecture, said the country could no longer afford to use the traditional method of finance.

The lecture titled “The Future of Finance Technology at Play” was delivered by the Chairman UBA Plc, & Heir Holdings, Mr. Tony Elumelu, at the Aderemi Makanjuola Lecture Theatre, LASU Ojo- Lagos.

According to Dr. Oladele, there was need for romance between the school and town, in terms of 21st century innovations and needs in the finance sector.

Tony Elumelu, who was represented by Mr. Ayoku Liadi, the Executive Director, Lagos West, UBA Plc, said the role of academia in equipping budding finance professionals for the future cannot be overemphasised.

According to him, the academic needs to graduate from imparting traditional technical accounting and finance skills to embracing modern technologies in the delivery of both technical and soft skills needed to build a global finance professional of the future.

He said: “I am not certain if the finance and accounting graduates of today are familiar with modern financial software packages, including global accounting and financial software packages, including global accounting and financial reporting standards.

“I will like to propose an overhaul of the curriculum to accommodate these. The academia should go beyond churning out finance and accounting graduates on a yearly basis to building ready-to-market finance professionals thoroughly equipped for modern finance functions.

“While cutting edge research is vital to achieving the above, the key is staying awake and staying disruptive. Therefore, Stay Awake! Stay Disruptive!! Never and never accept the status quo”.

The UBA Plc chairman said according to a 2016 Deloitte report into Finance in a digital world, there are seven technologies that modern finance functions must embrace.

“The 21st Century Finance Officer has graduated from being just one that reports the figures to one that drives performance across departments. Little wonder Chief Finance Officers of some major corporations are being referred to as “Chief Performance Officers,” he added.

Elumelu said today’s finance professionals are taking centre-stage in their business fields through the mastery of necessary technical skills and pragmatic demonstration of high levels of business acumen, leadership and communication skills.

The Vice Chancellor of LASU, Prof. Lanre Fagbohun, represented by his Deputy Vice Chancellor (Admin), Prof. Oyedamola Oke, said the lecture would avail participants the opportunity to learn more about the concept of growth mind-set and demonstrate the increasing need for all to learn and re-learn continually, as new technologies replace old skills and knowledge”.