University of Benin - Department of Banking And Finance (B.SC. Banking And Finance Programme)

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Department of Banking and Finance (B.SC. Banking And Finance Programme)

Short History:

The Department of Banking & Finance is a foundation department of the new Faculty of Management Sciences. It emerged from the Finance core of the old department of Business Administration, merging with the existing Banking & Finance programme from the Department of Economics and Statistics during the creation of the Faculty of Management Sciences and the restructuring of the Faculty of Social Sciences. The department reflects the realty of banking and finance as the heart of private sector-driven industrialisation and development in a globalised environment.

Aimns And Objectives:

The major objectives of the Department is to offer a sound education preparation in Banking and Finance (at both undergraduate and postgraduate levels) to all students enrolled in this area and to give them a firm foundation for effective participation in the society in general and Nigerian in particular as Finance Managers, Bankers, Administrators, Management Executives and allied professionals.

Vision:

The vision of the department is to be the reference point for theory and practice in Nigeria of banking and finance.
To achieve this vision, the department will continue to expand the hard core of finance and banking, and push research into the cutting edge of finance, including capital market structure and regulation, money market dynamics, portfolio optimisation, capital structure re-engineering, securitisation, capital–mortgage markets linkages, derivatives and commodity markets, market microstructure, and modelling of the dynamics of security prices.

Teaching And Research Facilities

The Department has competent teaching faculty equipped to teach, guide and supervise courses and projects in all areas of Finance and Banking as well as Insurance. The other departments in the Faculty as some departments in the Faculty of Social Sciences as well as the Faculty of Law assist in teaching courses. Opportunity is also taken to utilize the services of competent people in business, industry and government in and around Benin City as guest faculty including in the use of various financial and banking softwares. Linkages with major stakeholders and regulators in the financial market such as the Central Bank and Securities & Exchange Commission, as well as the Chartered Institutes of Bankers and of Stockbrokers are very important.
The Department has an arrangement with the Computer Centre whereby students offering Data Processing and Information System are enabled to obtain practical demonstrations in elementary programming and computer processing. Every year the department attempts to place students in business organizations in order to give them practical exposure in management.

Student Organisations

Apart from being eligible to become members of the University of Benin Students’ Union, students of the department are expected to belong to the University of Benin Banking & Finance Students’ Association and they can also join the University of Benin Chapter of the International Association of Students in Economics and Management (AIESEC). The latter organization is involved in promoting the study and application of modern economics and management techniques, as well as in organizing industrial attachment programmes on both national and international exchange basis. AIESEC has its own Journal, “The Manager” which is published at least once a year.
The students will be encouraged to be involved in the programmes of the various chartered institutes including those of Bankers, Stockbrokers and Management.

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Academic Staff Profile

Dr P.O Eriki

Head of Department