Elumelu advises varsities to embrace technologies to build global finance graduates

31 total views, no views today

For Nigerian universities to continue to churn out graduates to meet the demands of the finance function of the future, they need to embrace modern technologies in the delivery of both technical and soft skills, Tony O. Elumelu, Chairman, United Bank for Africa Group has advised.

The universities 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.

Elumelu, who stated this while delivering the annual guest lecture of the Faculty of management services, Lagos State university, Ojo, Wednesday, said academia need to graduate from imparting traditional technical accounting and finance skills to imbibing ready-to-market soft skills like leadership, communication, commercial acumen, flexibility/openness to change and strategic vision.

Tony Elumelu who was represented by Ayoku Liadi, Executive Director, United Bank For Africa (UBA) Plc, said that he was not certain if the finance and accounting graduates of today are familiar with modern financial software packages, including global accounting and financial reporting standards.

“I will like to propose an overhaul of the curriculum to accommodate these. As finance graduates and professionals, we need to be aware that it is no longer business as usual and with the fast-changing landscape, it will never be business as usual,” he noted.

“Technology is fast replacing the basics of finance. Financial reporting is increasingly being automated, just as data analytics is demystifying performance analysis. Tomorrow’s finance professionals must have capabilities for business intelligence and cognitive analysis. We must apprise ourselves of the most recent technology and continue to retool our skills to remain relevant today and into the future,” he said.

Rotimi Oladele, Executive Secretary, Institute of Entrepreneurs, Nigeria, and chairman of the lecture programme, lauded the effort of Elumelu as an ultrapreneur known all over … Read More...