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~-,-.pup. '..

U\~TE6\ ~ATIONS

ECONOMIC and SOCIAL COUNCIL

ECONOMIC COl.lMISSIOlT FOR AFPJ:CA

Second RegularMeeting of the ASsociation of African Central Banks

Rabat, 13-17 September 1971

Distr.

LIMITED

E/CN.14/AMA/29

7 June

1971

Original: ENGLISH

,.,~'.'

T,HE FIRST TRA.IlTING COURSE OF THE ASSOCIATION OF AFRICAlT CEN'rRA.L BANKS

LAGOS, 5 OCTOBER.~, 13 NOVEl!!lBER 1970

Report by

CENrRAL B~l{ OF NIGERIA

\

lll71-1470/

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LEJrTER OF TRANSMITTAL

H:i,s Excellency Ato Menesse Lemma

Chairman of the Association of African Central Banks

&

G?vernor, Natiofal Bank bf·Ethiopia

Addis Ababa, Ethiopia

ElcN

.141AMA/2

9 clo

Central Bank of Nigeria P.M.B. 12194

Tinubu Square Lagos, Nigeria 30 April, 1971

Your Excellency,

I have the honour to submit. to you .the Report on the First African Central Hanks Training Course, which was held in Lagos uncler the aegis of the Association of Afrioan Central Banks (A.A.C.B.) by the Central Bank of Nigeria in collaboration with thE> Economic Commission for Africa

(E.C.A.) from 5 October to 13 November, 1970, for transmission to the f'o r-t h-, coming meeting of the A.A.C.B. in Rabat, Morocco.

I I -

As Your Excellency will see -in the Report, effort has been made to prepare a tolerably impartial Report, especially on those issu·es·

whioh tended to impair the full success of the Course. In this respect, the section of the Report on "Appraisal of Course", is important. In the "Con- clusion and Recommendations", time has been taken to eXRmine the more likely arrangement which would contribute to the mbre rapid evolution ~fthe Train- ing Course as an institution, not only for. the training and development of high-level man-power for member banks and similar institutions, b"t also for fostering the muoh desired monetary cO.Operation among Afrioan financial institutions. The argumen\ in favour of the salutary role which a properly conceived, ~lanned and executed training course or centre can play in pro- moting the objectives of the Association are Joo eLoqu errt of'or- proselytizing.

I t will be noted ip. the Report that the parts played by both the Central Bank of Nigeria and the E.C.A. in making the Course a success have been deliberately omitted. These are, of course, obvious from various parts of the Report itself. However, I would like to take the liberty here to remark that despite some of the dLf'f'Lcu lt Lej, experienced in some of the arrangemEnts ~or the Course, andmer-tioned. in the,Report, the overall contri- bution of the E.C.A. to the SUC<l3SS of the Course was significant. ..

This Report is submitted to Your Excellency in English. It is hoped that the ECA, which currently fuctions as the interim Secert.ariat of the Association, will arrange the Fren~heditionfor the Rabat meeting. It is my hope that this Report will be f'ound valuable by the Association, and that

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ilLi I~

TABLE OF CONTENTS Sections

E/CN .14/AMA/29

Pages

"

I

II.

III.

IV.

V.

VI.

VII.

Annexes

Introduction

Course Arrangements

Organization of the Course Opening Ceremony :

Appraisal of Course Finances

Conclusion and Recommendations

10 12

IS 28 30

35

I.

TT

,

III.

IV.

V.

VI.

VII.

Nigerian delegation's statement on an "African Central

Banking Training COurse," at the first Conference of Gove.rnorll.

Agreed Course Syllabus and Procedures at First Conference.

Course Arrangements Presented 'to the Inaugural Conference.

Tentative Ccur-ss Arrangements Communicated to member banks and lecturers.

Participants' Application

j

Nomination Fbrm List of Lecturers

List of Participants

VIII. List of Course Officials and staff IX. Final Course A~rangements (Syllabus)

X.

~exts of addresses at Opening Ceremony XI. Sample "Certificate of Participation."

XII. Syndicate Assignments.

XIII. Evaluation Questionnaire and Responses XIV. Statement of Expenditure

XV. Copy of letter of transmittal of Course Album to the Chairman, Ato Menasse Lemma.

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: Ii $

4

am2

E/eN. 14/

AMA/29

REPORT ON TAE FI~STAFRICAN CENTRAL

BANKS TRAiNl'NG COUldE

1. Introduct,i.on

"

The first Conference of Governors of Afr,ican Cenj;ra1,J;lan\<\l (henceforth r-ef e r r-e d to as the First Conference) t o ok p:/.ac;e

from 15 to 22 February, 1966 at .th e £leadquaI",ters of t,he E~ollomic

Cortllllission' for ;\frica (ECA) in, Addis Ababa on the initiative

" " '/'

"of the E'~A. This First Conference was c a Ll.e d ostensibly, to set up an "African Monetary Council" and to discus. a number of related economic and mo n s. - -, t a ry problems in the Afri,can r-e g a o n , 2.' From the st a r t of the Co nf e.r-en.ce , issu!"s r e Lat e d to Central

"

"Co-operation among Central region centred around the document,

Banking cooperation in Africa.. . .. - and prob:/.ems of recruitment and- - - ,-- - - - ,,.-, . . ,'"

tr_!ningof central Eank staff, dominated conferellce discussions.

De1iberatio lls on, j;he problem of co-()peration fn the African Banks" (E/CN.14/AMA/6) prepared and submitted by the ECA.

, i , , " - -~,

~aVin~,recognized the need for monetary co-ope1'ation iri the region, and in order to give impetus to such co-operation,ihe Conference resolved to form an "association of'At'rican GeIltra1 Banks" (AAC:B)~' It also s et up machinery to study and ma ke r a comme nd at Lo n s on the char-ter a nd vo rga n i.z at Lo n a L structure of such an association.

3. The discussion of problem of r-e c r-u Ltane nt; and training of African central bank staff (agenda item sa j , Which .Ls ithe main

concern of 'thi.e.. Re p ont , wa" based o n the ECA document "Training facilities in Bankillg and Finance in the African Region"

(E/CN.14/AW,"/9). The sho.r tage of high-ievei manpower in ce n

.

. . " - . ' t r a L banking, and finance generally, was recognized by the Conference.

I t was also recognized that despite th'e existence of 10cai centres for the', tra ining of bank per.:onne 1 in African countr I e s , as well

-/ ,-

as 'insti t ut iona1 cl'n-th'e-jObtrainin'g, tit ere s t i l l was need for African'''centra1banksto pool'''r'esourc~s for training prospective high-1eve 1 b a n ki.n'g. -te.ctrn.L c i,a ns";

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E!CN.l4!AMA!29 Page 2

F W1

4. The discussion that followed revolved around the o r g a n Lz a-, tion of a course on a regional basis ,for training banking staff in the region. The Nigerian delegation, in its own co n t.r Lbut.Lon to the discussion, submitted a pr-op os a L for an "African C~ntr8ol Ba~kingCourse" (see Ailne'xe~' I & II) of s i x to ei.ght Weeks

for middle' management and jun10rexecutive personnel of .Afr Lcan central banks. The.Ni~e~ian delegatio~ 8otso relayed to the

Conference :the, .of f'er- of the Central8ank of Nigeria' to play host

"'~> i 7'

to the first cou rs.e ,

5. From .the. discussion, a consensus"elllerged "that there was need for some kind- of training facilities for African central

" ) , . , ,

banking and ,other banking personnel on a regional level in addition to ~xist:Lng international and national training

facilities. The relevance of a r~g:Lonal tra:Lning c~u;se to~he"

promot:Lon of Afr:Lcan regiona:\. monetary co~operat:Lon was also recognized.

6. Ln .the mea nt Lme, the Secr.et ar Lat (ECA) bad submi.tt e d the f o Ll.owi n g ,tentat,iye p.rop o s a Le as, poss,:Lbleapp,rqaches to the, " , problem .of regional coc-op e ratLon -Ln the sphere of! "tra:Ln,:Lng;,

"('a)- Spe c i.a L 'courses' or s e mi na r-e (to) be organ:Lzed by·

host centr a L banks in' consultation with the As s o c Lat Lo n,

,

"(b)

"(d)

SuCh courses (to) 6e organized

by

groups of Length of such courses. ," . (to be) 2-3 weeks, 6-8 wee.ks

to be

or a reasonable period to permit.

.

,

.re Le a e e d from normal functions.

tra:Lnees

{'(e) The, p o s sLb Ll.Lt yvof' t echnLcaLva nd ,financial

a ss Ls t.a n c e from Lnt er-na tLona L institutions (such a svt he IMP)' and other sources for such courses, ,',

"( f) Special courses or seminars (t~) b'e designed for senior and medium grade execut:Lves."

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,

E/CN.14/AMA/29 . Page 3

7. The general welcome acco r-de d the' idea of a regionally organized training course Has demonstrated When the Conference decided to take up and resolve, during the First conference, the issues raised by the Secretariat rather than refer them to the 1968 Conference, as such refer,ence would mean that the proposed course could not take place before 1963.

3. The discussion that followed focussed on the duration of the Course. The Conference, after an exhaustive exchange of views, decided to limit the co u r.s e duration to six weeks. It also requested the EGA to explore the poss~bility of, and if ne ce s s ar-yj t;o obtain, assistance f r om other .international

institutions in order to achieve a successful course. The First Conference then adopted the proposals submitted by the Central Bank of Nigeria and accepted its offer to play host to the first Course"

9. The First Conference had expected, and the Ce nt raL Bank of Nigeria h a d planned, to hold the first Course 1ate in 1967.

Although the Cent~al Bank of Nige~ia!s offer was made after the military accession topoHer in Nigeria early in Januaryl966, i t was not anticipated t.hat political conditions ,in the country would deteriorate thereafter. In the event, groWing socio- political difficulties hindred the preparation for, and the

holding of the Course in Nigeria in 1967, However, arrangements continued to be undertaken qUietly by the Central Bank in the hope that inte~nal developments would permit the holding pf

~he course in due co u r e e , In the ,meantime, the Interim Joint Committee of the tlAssociation of African Central Ba nk s " set up the ECA on the request of the First Conference continued its work of preparing a d r af t charter and organisational structure of the prop osed ass" ciat Lon ,

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E/CN.14/AMA/29

Page 4

Hi ¥ ..-is. •niW.

,

i I iUi~

, 1 .

10.

The Second, Conferen~~

bf

Govel:>nors of Afr±can Central Banks took place in Accra in August 1968. ThEi purpose of this

Conference

~~s

'first

t~implem~nt'

thedeClsion of the First Conference that a meeting of G6'vefriors 01: African Central' Banks be held every se cond year and se condly, 'to examine 'the Report of the Joint I'nt e r Lm Committee' on the AACB', and if possible to, adopt the proposed a'rticJ.es of association. However. the

Agenda' "'hich the Conference adopted also included. the "Training of bank personne{ in' Africa" (Item ~ of' Agenda).

:1.1.

The Second

Confe~~nce.'

after' exhaustive debate and amendments.

adppted the "A:i'ticle~of Associ~tion" submitted by the Joint Interim CommLttee. U~d'er Arti~le 3 - "Punc tLon s and Activi ties"

i t is s t ate d

th~tone

of thefuncLons of the' AACBshall be'

"to or ganize seminars, courses and other tr.aining pr-o g r-ammes for personnel of banking and fina:ncialinstltutions in ,the.,.

African region, ; ••• " (I).rticl,e ,3,, . ,. section (e».. . , ' , . .... This provision. .'. , emphasized o n.ce a.gaLn the .Lmpo r t a n ce attached to regional

training a rr-a n ge.men.ts ',as a ,means of fostering economic and -monet a ry co-operation Ln Africa.

12. When discussion of it'em 6"01' 'the Agenda .opened, the

representative of tne Central Bank of' Nigeria told the Confere,nce of th'il p r-o'g r-e s s already made ,by his Bank in p r.ep a r-a t Lon fo!,

holding the' Co ur s e in Nigeria. :1ealso explained the cLr.cumst.a n ce e which caused the delay 'in the holding of 'the COllrsefollowing the decision of the First Confe r-e.n ce , He renewed the offer of his Bank to play hos't to the I:ir~t course.

13. The Conference accepted the explanation for the delay in'.

.-~

conducting the COllrse, and u~~ed the Central Bank of Nigeria

. . -. . ; [! ,:\ ; : , ' ,. (, '.. '

to press towards the realization of this'''o'bjecti';''Ei

0'1'

the' Association. The EeA was requested t6=co'ilaborate With the

Central Bank of Nigeria in the organization of the Course. Both

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E/CN .14/AMA/29

Page 5

inStitritions were urged to seek and obtain the a s s Let a n ce of inter n>':t Lo na 1 and national institutions in the pursuit of this task.

14., On t h o nature of the Cou. se,the Second Conference.

anticip~ting language problems, agreed that i t Should be

mo noLan.gua L, and ,that the first course s ho u Ld be in English .. , and for the personnel of member banks Whose official language' is English, Itwn,S stressed that despite language bar-r.Lers , every effort should be made dU;t'ing courses to expose bankers

-,

belonging to o rre language group to the banking practices and policies of the other group.

The

In~~_gu':'il.Mee_!i~

of

1J:,e

As s o c a at Lo n

,15. By the, time the inaugural meeting oLthe Association met in Addis' Ababa in Dec em b er- 1969. pLa n s for holding the First Course were we,ll a d v a n c e d , Thus the meetingt s discussion of Agenda' item 10 ,centred on the d~tailed proposals on the Course submitted by the Cent na 1 , Bank of Nigeria (See, Annex III),

o,fbY ,the Meeting,

amendm~nts to th~ proposils had the issue of whether the Course

been disposed should be The French-speak ing members

,.,

of the Association pressed for a bilingual Course in view of the obvious a dv antage.a of the'inter-mingli'ng of persons from the Englishand';l:'r~nchspeaking central banks. After listening to sta t.emen ts<on 'the experiences of the IMP,' 'the' Centre for Latin American Moneta;t'y S't ud Les , and .th e African Jnst ttute for Economic Development aDd Planning, on efforts ~o run biling~al courses, the, Meeting r-eve r s e d the decision of the Second Conference, and opted for a bilingual Course. The

therefore, requested to undertake,

Central Bank of Ndge r La was,

I

with the c o.Ll.a b o r-a t Lo n of the ECA, a:r:r;;>.ngements for, su cn a Course.

17. Ini;>r'derto ensl.ireth;;>. t the First Co ur-s e itw;;>.s ;;>.greed that, should the diffic~lti.s of

took place in 1970, a bilingual Course

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,

E/CN.14/AMA/29 Page

6 ' '

LagosC;ourse should ,proceed In 'such an e ve n t; the c'Cha:l.rman

member banks to organize a Course in

on

Lagos prove insurmountable, the a mortoitngu31 (Englishj basis.

fhe' As'soc{'at'iori was aiftho'ri'ze'<1'to in

request Pr-e'ncn ,

the French speaki'ng Before disposl'hg of this item,. ,the ECA a s.sur-e d the lVleetingthat in order to e n s.ur-e the success o

r.a

,bi1in'gua1Course., it,wou1Q:prov;ide ad e'qu a.t e

numbez-s of'siptu1taniBous' interpreters and t r-ene La t o r s for the CO'l.!rse." Th,e, .Ce nt r-a LiBa nk of .Nigenia'. on, its ,part" unde r-too k to s,uppJ,y si.mu Ltane ou s interpretation and other facili,ties in Lagps,an<i, t9"bear .the- local costs of" t.h e Co ur-ee ,

Timing 0'1: First,' Course'

18. According to the Central BanI< of Nigeria's proposals

(Annex III) submitted to'the Inaugural ,Meeting, ' the First Course had be e n. s c he du Le d ,for, the period 6 .IuLy to 14 i'ugust, 1970." In the e ve nr , ,the reversal of the, decision of the Second Conference with regard to the, nature of the Course" coupled with Neather

con sLde r a t Lon s , compelled the .Ce nt r-a L Ba nk to change the venue ' of the Course and its timing. The Co ur-s ev wa e , therefore,

finally scheduled for the period 5 October to 13 November. 1970 •

.l'rl~iaY:"J~ne

1970, lVIr. Asumoh E. Bk uk Ln am , Director of Rese aech , Central Bank of N'i g e r.La, Who. in accordance Nith decision of the FiI\st

Conferenc~"

(see Annex II, para. 8) had in the meantime been

, "

app o Ln't e d Course Principal by the Board of Directors of the Ba nk ,

.

\ . ' . . ... visited Addis Ababa to, complete the syllabUS and other Course e r-r angeme'rrt s in consultations .with the BCA. and the Chairman of

t

th'eAACB and Governor of the Na t Lo na L Bank of-,

';', .

Menasse Lemma. The final syllabus as a gr-e.e d ,

Ethiopia, Ato,

- ' . / . '.;

and ":hich was"

circulated to member institutions,

Re~ort.

appears, in An ne x IV of t nLs

19. It .was 8+S0 .a g r-ee d during th,ese,consult,atio'os that"

"Certificates of Pa r t Lc i.p a t d on" be awarded to the, participant's::

at the end of the Course. The certificate designwas.agr~ed

.\:, to" -. , ~ I'

during the consuitatio~s,(see Annex XI). , "..'

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Xl.".K.<

E/cN.141AMA/29

Page '7

os.

II. Course Arrallaelltellts

. Air'ange'ments for the .Co ur se were virtu'a.1.lycompleted by the end of Apt-ill.970. Apart 'from r heis et tang up of. ,the

Admip.istr';;lJ;ive ma chLne r.y fo.r .th e Course, ;:I supp;lem~,:t,l;lry African

-.'~••• >

Central Banks. Training Course, Library at the J;iligeril;ln, Insti~tute

,

of International. i'ffairs, .the, securing of', h ot e.L, .Le ct ur-e room, and t r-ans por tetLon. faeil~_t,ies.the fo,llowin,g arr-a ngame nt e , designed tofu~therpr,omotethewelfar,e, a.nd .cornf or r of the part Lci.pant e. arid other ,non-Niger i;:l,ns,conn!"yted wHh. the Course as well, as ensure:·li .\,ucce;\?s:!'uJ: ,;:;our'?e ,w,er<ilunderta.!<.en,:

(a) Diplomatic' Immuirities:' Th,eCentra1' Bank of'. Nigeria reque sted,and the FederaLG6vernment agreed to extend d LpLomatdc immunit'ies· to the foreign

partdct p ants a'hd ot Irer- foreign visitors co rrne ct e d with,the Co.ur se, Bachof the' participants and

the other Course fun c r Lo'n'a r j.e s were i-s·sued identity ,cards to enable, them maxi.mLze t,hese p r Lvi.Le ge s ,

(b) Police Protection: In- a c cor-da nce withth·e Agr e eme n t

,

between the' ECA"and the' Central Ba uk , police protection was a~~anged to be·pro~ided at theven~el-and through- out the duration; of the Course.

(c) Insura'nce Protection:' Insurance co v er- a g a Lne t

. personal accident and loss of property was a r-r-a nge d for the .du r-at Lo n of the Course for all f o re i.g n

pa n tLci.pe nte , lect;Ul:'ers._ officials and other persons .conne c t e d r4'ith the,.,Course. The terms of, th.e.

policy were the same a s those of' the Group Personal

Acci~entPol~cytaken out,bythe Bank f'or its .senior staff.

-. !

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ZitII'! ,·;U...,l.{' "J" _.S

E!CN.14!AlIlA!29

Page 8

JiLP~L,

• ,--

,

.

~'

(d) Medical Care: Medica). facilities were available

to the participants and others at the Bank's Clinic.

Treatment for more seri ous cases 0 f ill-heaithw.as aLeoi o bt a i.n a b Le at. designatedhospit.l'ls ard s urge r-Le s normally con s uLted by the staff of the Bank in.~agos.

(el

Information and Publications: Lmor-der- to,' iinp!art, ,

. . ' . 1

Lnfo rmat Lo nvo n. the host· .cou ntir-y to' a LL persons' 'cohnected with ·the <::ou1'se, arrangem.entswere·

cdiid.uded with Nager-La ' s Federal, Mi·nistry· of Lnf or-mat ion as well as wi't'h State Gove r.nme nt sr

~~fo~mati6~mihistriesto makeava~lable tOe the Course Adniinistration selected documents on Nigeria bo tih f,o.r theCpurse. L'ibr,ary and. fprgeller.aJ. .

dLet r-Lbuc Lon d u rLng. the Course. Se1;ectedWorld Bank, lind IMF p ub Ld ca tLo n s on va r Lou s economic

,problem~··ot~,anda ct Lv L't La s in, Afric.a were obtained a.n d pLace.d in .the C::ourse L'i.b r ar-y for general

r-efe.re n ce and r-e.adLng ,

'In ad'di tLo n;ttCour~e'Bullet:i-ns" were issued weekly ,·in english and .Pr e n c h , hy the Cour,:;;!'! Adm.t nt st r-a t Lo n . to keep the participants, officials,. the, staff,

Le ct ure.r-s .an d the g en e r-a L p ub Ld.cvLn r o r-me d onIthe progress and actLvi t i.e s of the Course.

J'ress" and ..t e Le v.i.e.i.o n .inte~yiew,? and prpgraJ!lmes on the Course, a n d involving the, p a r-t LcLp a nt s .an d Co u r s e official,?. werea,lso ar-r-a.ng e d ,

ef)

Education Tours a'nd Social engagements: Elaborate a r r an gemo n t s were a Lso mad evf or- e d u cat i .o naL tours to the ·'host C'entrai Bank, e n d industrial. and

educational establishments in the ~ountry~ Arrangements for educational tours included lectures by executives

of establishments visited followed by general discussions.

'.

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.14/

AMA/29

Page 9

2. Special arrangements weI'''' also mad", to enable the partici- pa nt s ,

Invitations Were ..also issued,. ' , ' . , . , " .

" : " , , ,. , ' !

social activities such as attendance of pa.rties, film shows,

'" \ t . ' . i ·

games etc.

, ,',

NominatiQi)WiPf P~rticipantw,gLecturers,

3. Invit;;'tion

by

the' Go va r n or- of the Gentral,Bank of Nigeria

.1

to fellow Gov~rnors of' mElInberinstitutions to nom Lnat eipar.tLcLe-

I

pants fot-t'he Course weitt 'out in April 1970'a ccompan.Lediby

nbniina~io~form~

(see Annex

to membe'rbanks. nonc-meill'ber' cehti-al banks. and .Lnt.er-n.ati o na L , institutions t o'h;)fuih,;;'te'" 'ie'ctur'ers'.· ;-Tha ,(;oursePr Ln.c d paL designa~e also isi>u'td ''cbvi r a'tLo ne' 'to/a number 0 fto.p, Nigerian.

Civil servants.Univei-s'itty'prof'essOrs. ,ando·ther Nigerian"

profe s s Lo na L men to give lectures at the Cour s e , The Gover-nor,' s invitations.. "wEwed'dllowed,·i.,n"J"nel;>,,l(,,thpse .of the Chairman of the Asaocda tLo'n , 'arid the,B:lWcutive,secretary .of the ECA.

" ' " ,.~ ..' ., ,~.: .' - .

4, BytlIe'close

~f"'Jul'Y;

:Unvitationsto nominte lecturers had been ac~eptedb1 "trle'\'Ini:~i"n!'ifional"MonetaryFund, the Interna."

." .,,', ; "" '.' :::','" . ';,~,.-, " r" .~, 'I. :- , ' :,: ' ",::

tional Bank for Reconstruction'a.nd Development, the Africat;l Development 'nar\k;"'tlie Ln st I'tutr e for Development and Eco'}omic ",

?lannin~, 'the'fiani()fOngl~nd,

and the Bank of Franee• . five member b~ni{s (exclud'1ri'g the host' bank) also agneed:to,,;:;p9I1S(He lecturers, The host Ba nk Lt s e Lf pI' ovided,seven,\,lacturerEl~'

1,:0

addition seven other Nigerian professionals from Nigerian Universities and allied institutions, and Federal Government, Ministres accepted the invitation to give lectures.

member institutions invited to send lecturers did so.

were altogether 25 lecturers (see Annex VI).

All non- There

5. The response of' member b a nk s to the invitations to nominate Course participants was not encouraging initially. By 31 July

, 1970 - the original closing date - only 11 nominations had been 'received. In recognition of the communication problems of the

region. the closing date was extended by two weeks. Partly in

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E/ en, 14/

MilA/ 29

Page 10

r-e apo nse j to ,requests,

.

'. . and p a r.' . .tLyi t o encourage more nominations,. , . mernber- ins,t,i-:tutions were;! given the .opt Ln n to nominate more than one participant. The Chairman of the Association, and the

Executive SecretarY of the ECA wrote again to member banks

further e xho r t i.n g them to pa...t;;"eip·;'t~"·in',-the ,c,o."r.se.~.-.B~{i.ti·iQ'''''''':..c;:.. ..

August~ nom LnatLon io f participants rose to 31. By t.h(l t;ime;! the Course actually started, four additional·nominlltions.wer,e

rece;!ived,bringi·nog".the number of. participants t.o 35 from.22

courrtr-Lee , nominated ·by·· 19. Central Banks. and similar institutions., - ' j. ' . ' ,'-, . . • • ,;'. ' Twelve 'centralbanks Whose of·ficial Lan g u a ge is Bn g La e h nominated, 23 participants " 'while seven' with Fr-e n ch as the official.

language nominated 12 participants. The l i s t of par t Lc Lp a n t.s.., nominat ing Ln s r L'tu t Lon s , and count.ries of or.igin are shown Ln Annex VIi,

6. The o r ga n Lz a t Lon of the administrative machinery for the Course was completed in the last week of July 1970, following t.he i.appoLnt-men c 0 f. VI' •. Wassel, Ka,tabi of the Trade, Fisca.)..' and Monetary Affairs Dd vLs i.o n of.t.he .EGA a s repr,esentative of the.

EGA at the .Cc ur ae , . .In accordance with ·tOe de.cision of t h.e. Fir.st Co nfe r en.cejvDr-, Katabibec.!ime designated as Co.,..Dir.ector of

the Course. The names of the. COllI'Se o·fficials, general staff and f unct Lona r Le e appointed by.the Central Bank of Nigeria and the B-cA are: shown .Ln Annex VIII,

(14)

I",

E/CN.14/AMA/29

Page

11

'i,.-;; ;)

III. 'Organization of',the Course

'the (;bjects of'th~;'COll~se and the"i'method of study,,'were laid down by the J:i1rst Co~fLL'e~ce (see AnnvxIi,pp.1 and 304).

'The 'Course, as organized,

>' " , "

sought to achieve the objects, and to 'follow the itudyprOc0dure as

s~ated

in

thedoc~ment.

The

~fa:l:>o~a

ted

~yliabus

fcill<Hied

clos(~iy

the one adop'ted by the Fli~'s'(' (;~-rie'e~enceo

,2. ,The Course, 'as .aLr e a d y at a t e d was bilingual

French~ There were altog~ther'sBven coursesa~ follows:

'" ' . ' , '", , ' , ' , , ' " -" : " ' - .

I iYlonata,ry a'ld 'ba'nki.n.g de veLo pme n.t in the

AfrLea n region. i ~.

I I Thl:' development and growtl;l of iVioneya,nd Capital Markets .Ln Africa ,

III Problems of economic development.

IV Stabilization policies.

V International ec o n omic pr-o bLems and' the' :.A.frican

.', r-egi o n ,

VI Inter-African Bconoml'c ':o--opera,tion.

VIi Statistics for po- j '.c,lCy decisions~

3. The seven cou r e e so-re r-e br o k en .up vin tc 3'i lecture topics, which we~e further subdivide~ in some ~a6es'

5 .., 'Gne of the most u aef-uL me oh'a n.i.em's ,enl~loyed ,'t'6"s:t;imula te thought and discussion among the p a rtLci.p a n t s themselves was take up

The participants were

Ge ne r-aL d Le c uo o Lo no

issues; ,arising from each ..course.. , " - '-,

4. Bach topic of discussioh ~rt~~ gen~r~11~' ~ben~d with a

I

lecture. This was ,folloWQd by 6iscus6~OnSt quest~ons and

answers~ Pa~ticipants were encouraged to take part. in the d'is c,USSi'OllS,;

the discussion syndicate mechanism.

organized into five syndicates to }Jhich were assigned a Common

I

caSe-study involving problems of economic and/or monetary policy

• f

"I

.;

;:i

(15)

,

EjCN •14jAMAj29

Page 12

-;,;

nature. Each syndicate had a Cha i.rma n and a Sec r e tsr y witlj specific responsibility for the organization and direction of group' discussion, and the preparation of' r-ep o r t s on the conclu- sions of' the discussions. The work of' the syndicates wasta be compLet ed twit h i.n a specif'ied time; and the r-epor t s . were to be writ·ten in not more than a given number of' wor d s ; The group

, . , . i

dfscussic,ns we're to be followed by plenary sessions, during which each syndicate Chairman was to present his report" fo';

genera L dLs cue e t.o nra nd .ecr-ut Lny as tothe.ap.propriateness of the .eo LutLonjs ) proposed by each syndicate to the givenpl:'ob1em setting. The plenary da e cus s Lo n s provided opportunity to

compare and evaluate the re s o urcef u Ln e s s of' .the Lr- work and the calibre of' the. s yn d Lcat s s ,

,

6, The week-day (i.e.

Course took the greateI' Morning

Monday through Friday) time-table of' the part ·of'ea ch -day va s ' f'ollows:

0900 1030 1100

Afternoon 1030 1100.

1230

Lectures + Break

Lectures+ .

1430 1600 1610

1600 Le ctures+ 1610 Break

1700/1730 Lectures+

. !,ij.'!f

i>

, f~

~:,~.,.;

::: + Lectures and/or discussions.\

Saturdays were r e s e r-vec f'or educational tours. The elaborated syllabus of' the Course .Ls shown Ln ..i'nn.ex IX.

(16)

1,,- E/ eN, 14/AMA/29 , Page 13

~

n,

02e!}j.E."Il~~':r..'l'!1~l:lY

I

The openiilg on 5 Octobet. 1970.

Affa~rs by ~he Vice'

, \

and Fedei"a;1 formally opened

of Internatfonai The First Course was

at t ae )'lillerian Institute

Cha Lema.n of t h o Niger,ian Federal Executive Council CommLs sLo ne r for Finance, Chief Obafemi, Awolowo.

I '

ceremony was attended by members of the d~plomati~ corps,

Governm~nt officials, guest lecturers, ECA of,ficiia1s, other

2. The" address of ,the Commissioner was preceded by an op e nLng r amar-k by the Go v e r nor- of the Central Bank of Nigeria. Dr. C. N;

Ls o ng ; outlined the history 'of the AACB,,

. .

' and th,,'eve'nts'

l~,,,,,ding, to ,the holding of the Fi,rstCotirse~ and in Nigeria. In the cou r-s e of' his opening, remarks,' the Governor stated ·t'hat the

"Course is an exercise Ln practical co-operation with the

objective of drawing Africl'ln Stat~s, their peoples arid' institu-

',,. , ' ' , . , ' ' " .

J;;i,On?,. ,1;o~et!)er in,a~ attempt to find solutions for their

economic and monetary problemsfI, He' concluded by pointing out that his invitation to the Federal Commissioner Enr Fn.nan ce ' to' address the opening assembly of the Course underscored the

I,

Lmp o rt a n ee 'whi.chthe Central .Ba nk o.f Nigeria at ta oh e d to the Co u r se,

the p ar t Lc Lpa n ts to Ndge r La , He remarked that the 'cleci13ion to, hold' the' Course in Lagos was a mark of great -f-aLt h ,in Nige",ia, wh.fch; at ,the

time.'

o;e"t"he'·decisiO'n, was s'til,l engaged Ln Do civil war. He pointed' out 'that foreign rule h ad.. created obsta cles· o.n

lIe' outlined and commended the ac h La vemant e of these

obsta~les.

African 'countries; and stressed the need for Africans to ,oyorcomeI ' .

th~BCA, and

1011<,

role i t played in the formation ofth.e AACB under

~hos'3 auspicies'the Co ur ae was holding.' He also 'Commended the

(17)

,

E/CN .14/AMA/29 Page 14

aims and modus~randi of the AACB, especially in that its first activity has been in the direction where the greatest problems of Africa lie - that of' manpower development as a significant factor in economic d e ve Lopme nt , He dealt with the general functions of central banks, and called the attention of the .participantsto the roles)'ihich central banks are expected to play now-a~days in the economic development process.

4.: The EGA- representative and 'Co--Di,r,ecto'r of the Course".

Dr. W, Katabi, wno addressed the ope,l:\ingAssembl.y in Pr-e n ch ,

conveyed to the Course a message of best wishes from the Executive Secreta:'y of the ECA, He expressed, on behalf of the ECA.

appreciation of the efforts shown 9ythe Central Bank of Nigeria in organizing. the Course. arid the great responsibility which it has accepted, and the hospitality extended, as the host of the Course. In c Lo s I'n g , he pointed out that this first show of co-operation ,mong the banks under the aegis of the AACB

justified all the hopes that have been nurtured by the Associa- tion. The texts of the addresses at the opening ceremony appear a. Annex X of this report,

Lectures

5. Formal lectures started on 6 October 1970, on schedule.

Messages of best wishes and moral support for a successful Course from the Chairman of the AACB, Ato IVlenasse Lema , and the Executive Secretary of the ECA, Iiir. R.leA. Gardiner. were

.•

received during the course

or

the first day's lectures~ There • were unforeseen, but not une:x:pe~ted developments that tended to

disrup the lecture schedules; these wer.e h ot.e ver-, contained on a daily basis. Lectures and lecturers were drawn from the arranged pool of reServes in the qentral Rank of NigEjria to minimize disruption of the programme by the inability of some

lecturers to keep their dates. Some Iectur-es were res cheduled at the request of Le ct ure r a •. a,nd tile periods a Lfo c at ed to other

(18)

.-', ,

,.

E/CN.14/AMA/29

Page 15 .

, .' ,',_':: i , " " " ,

lectures or relevant Course activities. The lectures and other

" '-,

abtivid.esof the

Cour~e

as they

~cttially

. took place are

. .

.

sho~n

in Annex IX.

Termination of course

6, The Course came to a successful end on Friday, 13 November, 1970 as scheduled. The closing ceremony was 'presiUed over by the Course Princi'pal and the Co-Director. In his opening

remarks, the Course Principal tranked the participants for their co-operation during the Course. He hoped that the experiences gained from the Course would be useful to them and the institu- tions they represented. He pointed out that ,Whatever else the Course has achieved. i t has brought together responsible staff of both English and French speaki~g central banks in Africa for exchange of views and interaction for six weeks. This alone in itself, he stressed, justified any troubles that have gone into organising the Course. He then introduced the Governor of the Central Bank. Dr. G. N. Ls o n g , for the closing ad d r-es s ,

7. The Governor in his remarks, expressed gratitude to member banks of the AACB who sent participants to, and sponsored

lecturers for the Course. He also thanks the IMF, the lBRD, IDBP, ADB, the Bank of Prance and the Bank of England for sending lecturers to the Course. He expressed the hope that the participants had benefited from the Course; and had enjoyed their stay in Nigeria. He requested them to convey his warm personal greetings to their respective Governors.

J. Two of the partiCipants, selected by the participants themselves - one representing the Prench-speaking group, anc!

the other, the Bnglish-speaking ~ also spoke, thanking the organisers of the Course on behalf of their colleagues, and

urging that the founc!ation so magnificently laic!, shoulc! be built upon as a means of fostering unc!erstanding and co-operation in Africa.

(19)

;- t

v.

Appraisal of Course

E/CN.14/AlIlA/29

Fage 17

T

'.

Training of high-level personnel is a continuing function of the AACB. The First Training Course was only the beginning of the implementation of this asp e ct of its functions. In order to permit of c o nt inuous ill\provement in the qua lity and use fulness of the AACB's training p,\,ogramme. it is necessary that each

Course be evaluated as to the usefulness of the Course content, the quality of participants in the Course. and the particular achievements or shortcomings of a given Course: It is only in this way. and given an Lmp a rt LaL evaluation. can the Associa- tion's effort at raising the quality and standard of performance of the personnel of the Association's members bear fruit. I.;t is with this objective in view that an attempt is here made to

evaluate the First Course. and to indicate areas where improvement can be made in the future.

Lectures and Lecturers

2. In Annex VI is shown the list of lectures an~ lecturers at the Course. Below are shown the names of lecturers. institutions from which they came. whether or not lecture texts were available at the time of lectures. the number of lectures per week for the six weeks of the Course. and total lectures delivered by each lecturer.

3. As the ~ecord shows. it had been planned to concentrate the lectures during the first four weeks of the Course and to reduce their intensity thereafter in order to devote more time to a contemplated written paper. The greater part of the last week

...

was to be given to major educa~ional field trips. The~igh

concentration of lectures in the first four weeks had its

disadvantages: it was most of tp.e time impossible for lecturers.

as planned. to keep lecture delivery to within the first half of the lecture t~me. and to allow time for discussions. Lectures

\:

(20)

if ..,.J ert

E/CN •14/MIIA/2 9 Page 18

RECORD OF LECTURES

Lecturer Instit-&tion Represented

Available , Lecture i Text

!

1. Dr. Aboyade, O. Univ. of 1badan 'Nigeria

E

L.

1

If

2

3

1

.3

4

2,

5

1 1 ,1 2 1

2, 1 1 I

1 1 1

:

41

46

2

! '1 :.i

5

1

3

1 1

4

1 2 1 1

1

9

10 2

1 1

1 1

2

l

J 1

2 2 1 II,

'1

I

i

I L

t.

I

I,

21,"' I

2 I 1

I

Ii 1 2

i

!

1

1, 1 1

11

9

'II

I

1

I .-"

,

F E& F.,

E

E & F E' E

E.

E

E

&

F

E

E

&

F

E iE

E &F

Total Bank 'of Uganda, East Afr. Corom Central Bank of Nigeria

Uniy.of·Lagos i Bank of France

Central Banlc-of' Nigeria

Fed.Min.of Trns Nigeria:

IBRD

I

Central Bank of

i

Nigeria

I,

di tto

!, ditto,

I

,ECA

I

Appiab.,A.K.

AYida, A.A.

maki te ,Y.

Dupont,F.

Ebiefie,E.O.

1dr •

2. Dr. Adekuri.le',J. O. i'Central Bank c;j.f , .: Nigeria E

3. Idr. :Jl;k'inr\"le,Q.A.!Africa,n Dev -Bank: E & F

4.

Dr. Akiwowo,A,.A. iNig. Inat; ofI

, Eoon'& Soc;Des

'i

Bank of Ghana

I' ,

! Fed Min. of Eeo

! Dev.Nigeria

~I

IIDEP ,"

7.

1dr. ,

8.

5.

Dr:

6. 1dr.

21. 1dr. Sanner, P.

22.

Mr.

Tickeher,L.

20. 1dr. Ouattara,M.

I Central. Bank 9f

I

Nigeria

!Min .of Planning

I

i,BQEAQI~coa.st (BCEAb) 'FIF

i

National Bank i

! of Ethiopia

I

23. 1dr. Tomkins

,H.J.~

Bank of England IE & F 24· 1dr. Vinay, B.

I

BCEAEC

25· 1dr. Zassenhaus,

i

1M

H. K. !_'_F

...J._...;..

t-_r-_+--t_-r_-+ -t-...;...

, 17. 1dr. Ogbe, ILN.

18. Dr.

Olakanpo,O, 19. 1dr. Ononye,P.O.

13. 1dr. Erihenwo su , C.E.'

14. 1dr. Falegan,S.B.

15.

1dr. Katabij

W.

16.

1dr.Mubiru,J.!Il.

10. 1dr. Ebong,1.J.

11. 1dr. Edelman,J .A., 12. 1dr. Ekukinam,A..E

(21)

i I

E/CN.14/AIJIA/29 Page 19

:; $LA

e ven e n cc oa ch e d ~I?on t-h o s erbo ur e "hich Wllre sl?e?ifically

Xn order to allow agreed that,

s cheduLe d for general or gr0'tP qiscussio.ns.

for discussions, the paz;ticipantsgenerallY

discussions be extended into their own free i!eriods .. When an 'interesting'topic mis under discussion,however,' i t was often' dIfficult to accommodate all th'ose wishing to make' con'tributions even when discussion per Lo d e were exte~oe<i. As i t turned out,

pressure of time, and the inadequacy of library facilities made i t impractical to assign the e p e c La L paper tihat;

ea~h

partici'pant was 'to submit at'the end 'of the 'Course.

4. There was another difficulty: that of translation of lectures. It has already been stated that the ECA had under- taken to supply translators for the Course.

5. During the Course' Principal',s consultations with the ECA'in May-j~ne 1970, i t had bee~ agreed to set 1 September. 1970, as the deadline for the SUbmission to Lagos of those lecture

te~ts

whi~h'lecturers could not 6upplyin the twoworld.nglanguages

01'

the Course. The under~tahding with the ECA was that such texts would be routed to the EeA for' translation.' Text's that came too Lat e to' be sent to Addis Ababa would' be translated in La g o s When ';translator,;;", , arrived there. ;

..

• As it, turned ou,\:.the,ECA was unable to providetranslat,ore for texts Which wereair-ma~led,to Addis ababa, After the

Collrse'actually <;?mmejlced> i t was impossible, £'01', the tw,o lady trallsl!';torst() c()pe,With the ba ckLo g of un r r-a ne La ted r e x.t

s,

a nd those that a r r Lve d d'fril1il'l:J:'e Course. i-• .numb er- of, Le ct ure r s arrived at lecture t Lme ,with their texts and, expected t he s e to be,\:"anslated thEH'sand then. Considerable inconvenience arose. . . ' . -

.

as a result of this: many lecture texts were not available to participants before lectures. As most of the lecturers were

E~~lish epeaking, ~;st lecture texts were ~vailable in English

before lectures. buttiact to be wlthhelduntil French v e r s Lon s

. , . . / . ,

were r,eadybefore distribution to participants. :'Jistribution us~ally occurred after lectures or even some days there~fter.

(22)

E/CN.14/AMA/2'9 Page 20

"P £ lUil6

,

, 1 m

The hiring of local translator$at an exhorbitant cost following 3,CA's negative response to a cable requesting the e e r va c e s of additionaltra'n$lator$brought only belated relief.

7., Apart from the problem of trarl$lation. a few Le c r ur e r s came with noprepar"d texts • and gave their lectures f r-orn o utLiin e e , Participants were expected to take n otes , In two 0:\ these cas.es , however. i t was obse r-ve d that t;le lectures stimulated even g,reater interest and lively discussions than most lectures for Wilich

there were texts. Generally speaking. it may be said that. for many of the participants. the unavailability of lecture textsI

before' l~ctureswa. a serio~s handicap.

Library Service

8. Inadequacy of library materials in French was another

serious handicap, during the First CO\lrse,This problem had been anticipated by the Director of Research. Central Bank of

Nigeria. who ha d earlier in the year, sent requests for ,relevant publications in English, but more particularly in French to the

IMFlnstitute; the IERD Economic Development Institute (BDI);

Mr. P, Jan~er, Dire,ctor of Resear.chof the. BGE1":LO. and Dr. E':atabi

, ,-,

,

Ir-

:

of the EGA. He also discussed the problem wit~, the Central

of the Nigerian Institute

0:\

internatioGal Affairs where a supplementary Course Library was set-up by the Central Bank of

Ba nk Ln g Technical" advisory division of the HIF at Copenhagen d u r Ln g 'the IMP Annual Meeting. and' obtained an ''';ridertaking that documents would be a Lrf r-e Lght e d from '-o1ashington. D.Go, to Lag&s for the pur~ose of th~ Cou~se.A selected number of the IMF and IBnD pUblications in French and'English were provided from t~e collectI6~i av~ilable at the Arintiai Meeting a~d were placed in the C:ourse Library, Docum e nt s brought t o Lagos by

Dr , Katabi 'and Mr. Vinay of the BCEACwer~ also' placed In the Library.

9. For convenience,, , space was obtained adjacent to the Library

;..-,

(23)

l,.

E/

cs.

14/AlIlA/29 Page 21

Nigeria Research Library. In addition to this supplementary CouFse'ilbra'ry~':"an'd"theInstitute's large Libia'r,y;,tlre Research Library itself was kept open and accessible daily to the

participants and lecturers beyond normal working hours,

10. A few weeks before the Course commenced,' [;jI'. P.' Sanner had written to the Director of Research. :::entral Bank of Nigeria, that some 32 texts in French had been, air-freighted to' Lagos.

But unfortu!,ately the documents were not received by the time

• the Course ended - and have not yet been received.

believed th~ shipment was lost in transit.

11. The documents sent by the IMF Institute and the EDI arrived during the Course, but in many cases were irrelevant to the

.,..-,ijl A

Course content. The more u sef uL documents in French and English

~entbY

Mr. ;.i,Ie. Zasse'nha'us, who was the IMFnominee .lecturer at the Gourse, and with wllom the problem of French literature had been discu'ssedby the Course ?rincipal while'he was in Lagos.

arrived

~

week

bef~i:'e "th~

Gour'se' ended. These are now being held in the ResearchLib~ar'yof

the

Central Ba n k of Nigeria a s-:a

nucleus 0 f'an "Afr {can Ce ntraL Banks 'I'r aLn i.n g Co'tirse Library"'.

Performa nce of Partic.iP.ants

12,., ,T,he, p a r.t.LcLpa nt e " r-e.co r d s revealed d Lver s e educational

- r : '").

backgrounds,yaried e xp eri.ence s ran d degrees of functional

., . ..: -

.

-'. ' ' . . .~

responsi,l1ility" .Seventeen of. the 35 participants were full-, . . . , . " "

fledg€)dUniversity!College g,raduates., Eight others had received

\

p r-o Ee e e i.o n a L training and certificates, while nine were secondary.

s~hool graduates, some of whom had had some kind post-secondary operational training. One'of the pat'ticipants hdd not completed

secon~ary s~~o~l.

About

~ix

of the participants held posts higher than deputy heads of~epartme~ts, .bile ab6ui15 held posts of managers .or- equivalent.' The reinaining14 seemed to ha vo been

junior officers. Functionally the participants were distributed as follows:

(24)

L,. we I' I n z"

E/cN•14/AM.A/29 Page 22

Function

~-'-'-"

J~o,. ofpartic,ipants represented (a) Econo;"ic I<esearch or equivalen.t

(b) Banking opera tiops

(cl Administration . (general) (d) Bx cha n ge vco nt r-oL

(e) .Foreign Departments and

.rnternation~l Institutions ( f

I

Accounts

(gl Internal Audit (h) Bank Examination

Total

12

5 "

4 4

;I 3 2

2 !

35

1:). Given the varied e d.u cat Lo na L backgrounds •. professional

\ "

expe-r-Le.nces a n d f u nc.tLo na L diversities, i t wO,uld be no surprise to!lotetha,t tl1estandard of participation and degree' of Lnr e r-es. , t

oxhLbi.ted. by the pa.rtLcLp a n'ta. varied cO!lsiderably. It was observed t,batroughly a th.Lrd o. ,',' f t h e participants did not,

' , , . " - -

contributea,t all to d Ls cus sLo ne despite the ef,forts of the modera,tors' of di.scussio.ns toeHcourage r ne less a,ggressive ones to do so.

l i t t l e interest.

''-i ';

14. The extent of participat ion, however', dId' cut'~cros$

educational backgrounds and .Langua ge grdups: some of -thos e , both French or English 'speaking whoapp'ea';'ed' educatio!lally' equi.ppped to lead in discussions were manifestly 'reticent arid exhibite'd

, ,

Cn the other hand, a nurilberof' the non"'gr,aduates • showed aggressiveness and h'igher quality of p a'r t Lc Lp a tLon ,

The .' course' Principal .a n d" " ( . .' . . < .

theG~-Dire~tor

' . . -" .' , .:' of "tbe', ' " ";'.~

{;our~ek~pt

. • ,

a daily clOSe wat9ho!l the performa!lce\)f each participant

, ' C J " ' "

tbrougboqt the c\)urse. At the c19se of tbe Course, theparti- cipants were ratedo!l tbe fo;Llowiug basis:- . '_ ..: - . ' 1 ; , .

(25)

i J

E!CN.14!AMA!29

Page 23

I

Per c~nt

,( a ) (b) ( c)

p ar tLc Lp at Lo n in di.e c us s.Lnn s et.c , quality of participation

, +

at t Lt ude to work.

20 50 , 30 100

- - - ,

,

+ The rating under this item was discounted by incidence' of absences, sleeping~ .nd detectable show ,of indifference et c.

~ated and ranged on these basis. the outcome ~f 'a quartile classAficatinD was ,as follows:

No of

, par-.:ticipants 8

·9 8 10 35

CourseCont'ent'

16. The elaborated' syllabl1~ Rf the Course ($~e Annox IX itself testifies as to the aims and objectives of the Course. These were perhaps better spelled out in the remarks of the Governor of Certtri>l 3anl("of Nigeria at the opening ceremony of the:;ourse, Referr.ing to the·';otirse,

lie

said, inter allia:

ItsprORrammeis designed not only to deal with ,traditional central banking ,problems, but also to'widenthe horizon .ofthe pant Lc Lpa nt e both in 'terms of th'eir Concepts of

central banking funct ions, genera lly. and. how, these are rei',;ted'to economic and other social issues. We believe zha t i t i s Ln this ,wid'er. undet standing of e co n omi.c ,

monetary and social problems as an inseparable ~hole

that central bankers in African countries can discharge their ,t'unct"ions, if they are to satisfy the requirements for the 'economic and social development of the societies in which they o p e r a t e . '

(26)

E/oN.141AMA/29 • Page 24

- .~J't!n

I""',;

17. The g~,ne.Q,'l.9'gical sequence of the courses and lecture

topics, their .tih e o r et Lca L and practical r amt f i cat Lo ns., and; ·the case-studies were all designed to .b u Ll,d up in the pa r t Lei.pant;

a catholic view,.,of the role and problems of central banks ·in

the developing African environment, and the impact of. non-African ally the Course was d.esigned to equip the partic.ipa~tswith

basic tools which he/she should adapt to his/her particblar situation in hiS/her central banking functions.

environmental forces and concepts on African economies. Essenti-

..

IE. The Course (as will be see .. in the. criticism offered by the participants) was not, therefore, planned to train the parti:f"ip.ant13 ill narrow operational and functional details of their work - such as how c ur r.e n cy is issued, or .n ow all exchan g e corttrol department i s run or how accounts are kept. These and such other knowledge are obtainable through in-servj,ce (i. e.

on-~he-job) training. And yet some of the lectures, during educational tours, also prOVided some insight into these side- functions of central banks. The main Course lectures also dealt with these, but only from the aspects of theittelevanc8 to ce nt ra.L bank monetary, credit, developmental, s t a b L'l Lzat Lon and ot-her- policies.

19. From responses to the ~valuation questionnaire circui~ted

',' ' . ' " " :'" : :' " " " , . " , J' " ,-:"fJn u'--: ;,',

to the participants (see' b e Low ) i t would appear that :;ourse T,

"Mo~etary and banki~gdeve~opm8ntin the African region" ~~~~~

theleasbexciting, While Sourse VII, "3tatistic~ for,poli6y decisions" app e ar-ed the most difficult. Course I "1a.s p La nned

,'~ " " , -' ' ..

merely as a-v.found a.t Lo n course. i t probably proved too elementary

or irr("leva'1-tto'ina~yof ,the participants.

or d La co n.t a.n ued' ,i"".fu,ture.

Lt may .temodi,fie d

20. Cour-se. VII,. proveddiffi cult ibe ca urse of the 'ge'ne'r',fl oy,

> , " , " .!. ' , ' . , ' , ,:" " ,", , ,'- ;', t. '(.... ,. ,,'i'

deficlenty

iIi

th~ miithematicai backgrOUi!;(ot);11eparti<;i;l?.a~t;s.

The f.ew who could follow the lecture rated i t among one of the most useful for central bankers. The Cour~e is e.ssential and

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