Build ready-to-market graduates for modern finance, Elumelu urges institutions

The lecture was entitled: “The Future of Finance- Technology At Play.”

Represented by Mr Ayoku Laidi, the Executive Director, UBA, Plc., he said that they should be thoroughly equipped for modern finance functions of the future.

Elumelu said finance graduates and professionals must be aware that it was no longer business as usual following the fast-changing technological landscape.

“Traditional knowledge of finance is getting stale in today’s business world, and indeed there is a dire need for retooling our skills, if we must remain relevant in tomorrow’s financial world,” he said.

According to him, in building the finance professionals to meet the demands of the finance functions of the future, the academics have so much to do.

Elumelu said that academics needed 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 professionals of the future.

The UBA chairman said that technology was fast replacing the basics of finance, as financial reporting was increasingly being automated, just as data analysis was demystifying performance analysis.

He emphasised that tomorrow’s finance graduates and professionals must have capabilities for business intelligence and cognitive analysis.

Elumelu said the graduates and professionals must also apprise themselves of most recent technology and continue to retool their skills to remain relevant today and into the future.

“I am not certain if the fiance and accounting graduates of today are familiar with modern financial softwares packages, including global accounting and financial reporting standards.

“Have they been imbibed with the ready-to-market soft skills like leadership, communication, commercial acumen, flexibility/openness to change and strategic vision.

“If not, I will like to propose an overhaul of the curriculum to accommodate these,” he said.

According to him, while cutting edge is vital, the key for modern fiance personnel is staying awake, disruptive and never ever accept the status quo.

Also, Dr Rotimi Oladele, the Executive Secretary, Institute of Entrepreneurship and Chairman of the occasion, said that the country could no longer afford to use the traditional method of finance.

Oladele said that there was need for romance between the school and gown, in terms of 21st century innovations and needs in the finance sector.

“Our institutions need to open up to global exposure,” he said.

In his remarks, Prof. Olanrewaju Fagbohun, LASU Vice-Chancellor, said that the lecture was apt, saying it would prepare the academia, students and professionals for the future of technology in finance.

Fagbohun, represented by Prof. Oyedamola Oke, Deputy Vice-Chancellor, Administration, said the forum would avail the participants an opportunity to learn more about the concept of growth mind-set.

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He said it would also demonstrate the increasingly need to continually learn and re-learn, as new technologies replaced the old skills and knowledge.

Earlier, Prof. B.R. Yusuf, Dean, Faculty of Management Sciences, LASU, thanked Elumelu for honouring the invitation of the university to deliver the lecture.

Yusuf expressed hoped that the lecture would affect the academics, participants and nation positively.