HISTORY OF B.Sc. BANKING AND FINANCE PROGRAMME
The Banking and Finance Programme of Michael Okpara University of Agriculture (MOUAU) Umudike, started in 2003/2004 academic session as an option under a B.Sc. Agribusiness Programme College of Agricultural Economics, Rural Sociology and Extension. The B.Sc. Agribusiness programme was expected to provide opportunities for the development of highly skilled and technically proficient middle level manpower in specialized areas like Banking and Finance, Accounting, Marketing and Agribusiness and Management. In realization of the need to establish the programme on a solid foundation, the University Senate, in 2004/2005 academic session, created an autonomous College of Agribusiness and Financial Management (CABFM) in line with the provisions of the Universities of Agriculture (Miscellaneous Provisions)Decree No. 48 of 1992, section 3(d), d, f, and m. This College effectively commenced during the 2004/2005 academic session with Professor Jude A. Mbanasor as its pioneer Dean, and Mr P. N. Mbadiwe as the co-ordinating Head of the four options in the College. A new Department was created with effect from 2008/2009 academic session to house Banking and Finance, Accounting, options with the Dr John U. Ihendinihu (as he then was) as the pioneer Head. A further re-organization to enhance operational efficiency in the College led to carving out Banking and Finance Department as an independent academic unit from Accountancy Department with effect from 2010/2011 academic session with Professor S. O. Uremadu as the pioneer Head, Department of Banking and Finance.
Following Senate approval at its 143rd Regular Meeting held on Wednesday, 30th May, 2012 for the establishment of a College of Management Sciences (COLMAS) to run full Administration Programmes in the University, the existing undergraduate Banking and Finance option under B.Sc. Agribusiness Programme was restructured in line with the National Universities Commission (NUC) Benchmark Minimum Academic Standard (BEMAS) for Undergraduate Programmes in Banking and Finance. To ensure curriculum relevance, the content of the reviewed Banking and Finance Programme also considered current developments in Professional Banking and Finance practice and in the industry, particularly, in such areas as Information Technology, Ethics in Banking and Finance, Electronic Banking and Finance, Corporate Governance and reporting issues, frontier issues connecting banking to International Standards for Financial reporting in public and private sector organizations (IFRS and IPSAS), Oil and Gas Finance as well as Infrastructure Finance. These changes have been adequately captured in this maiden edition of the brochure.
Accordingly, the Department of Banking and Finance is now re-positioned to run full B.Sc. Banking and Finance programme under new College (COLMAS) with effect from the 2012/2013 academic session. Already, the department is currently liaising with the only Professional Banking and Finance Body in Nigeria (Chartered Institute of Bankers) for the purpose of securing full accreditation.