Ola Vincent: Exit of a patriot, professional per excellence

He was very passionate about human capital development, professionalism and adherence to ethical values. The following initiatives attest to his passion for human capital development. He strongly supported CBN initiative of encouraging Nigerian professionals working abroad to return home to contribute to national development. Between 1975 and 1976, the CBN constituted a recruitment panel that […]

He was very passionate about human capital development, professionalism and adherence to ethical values. The following initiatives attest to his passion for human capital development.

He strongly supported CBN initiative of encouraging Nigerian professionals working abroad to return home to contribute to national development.

Between 1975 and 1976, the CBN constituted a recruitment panel that travelled to both the United Kingdom and the United States of America to recruit Nigerian graduates and professionals in various disciplines such as economics, accounting, finance and banking. It should be noted that the CBN bore the cost of their return to Nigeria and provided hotel accommodation for each of them and their family members for three months.

When his attention was drawn to the fact that a good number of the newly recruited overseas graduates had resigned their appointments, his position was that the CBN needed not be upset as long as such graduates were still serving the Nigerian economy. He advised that such development should be regarded as the CBN’s contribution to Nigeria’s economic development. Indeed, he foresaw the need to encourage Nigerians in diaspora to return home as far back as the 1970s.

Another major initiative during his tenure as Governor was the establishment of the Financial Institutions Training Centre (FITC) in 1981. Though the establishment of the FITC was one of the recommendations of the Okigbo Panel on the Reform of the Nigerian Financial System, Governor Vincent ensured its prompt implementation.

His passion for professionalism of the workforce manifested in various ways. A case in point was the establishment of a bespoke Bank Examiners Training Unit in 1981. He secured technical assistance from the Office of the Comptroller of the Currency (OCC) in Washington whereby a seasoned Bank Examiner, Mr. Edward Nolan was seconded to the CBN to establish a Bank Examiners Training Unit for CBN Examiners. That initiative enhanced the supervisory capacity of CBN tremendously.

While commiserating with his family over the loss of their Patriarch, they should take solace in the indelible legacies he left behind. He lived a honest and fulfilled life. May his soul rest in perfect peace.

In conclusion, may Nigeria produce more selfless leaders of your type.

Ogunleye, OFR, is a former Director, Banking Supervision, Central Bank of Nigeria (CBN), former MD/CEO, Nigeria Deposit Insurance Corporation (NDIC).