If you are a fresh graduate in Nigeria, you might be wondering if you can serve in a bank as part of the National Youth Service Corps (NYSC) program.
The NYSC is a one-year mandatory service scheme for Nigerian graduates who are below 30 years of age.
The aim of the program is to foster national unity and development, as well as to provide opportunities for skill acquisition and entrepreneurship.
However, not all sectors are open to corps members. According to the NYSC posting policy, corps members can only be posted to four key sectors: education, health, agriculture, and infrastructure.
This means that banks and other financial institutions are not among the approved places of primary assignment (PPA) for corps members.
Why Corpers Cannot Serve in the Bank
Why is this so? There are several reasons why NYSC does not post corps members to serve in banks. Some of them are:
- Security: Banks deal with sensitive and confidential information, as well as large amounts of money. Posting corps members to banks may expose them to security risks, such as robbery, fraud, or kidnapping. Moreover, banks may not trust corps members with their data and transactions, as they may not have the required experience or integrity.
- Availability: Banks usually have a limited number of vacancies for staff, and they prefer to hire qualified and experienced professionals who can meet their standards and expectations. Corps members may not have the relevant skills or qualifications to work in banks, and they may not be able to cope with the demands and challenges of the banking sector.
- Continuity: Banks need staff who can work with them for a long time and build a rapport with their customers and stakeholders. Corps members only serve for one year, which may not be enough time to learn the ropes and contribute effectively to the bank’s operations. Moreover, corps members may not be willing to continue working with the bank after their service year, as they may have other career plans or aspirations.
- Regulation: Banks are regulated by the Central Bank of Nigeria (CBN) and other agencies, such as the Nigerian Deposit Insurance Corporation (NDIC) and the Securities and Exchange Commission (SEC). These regulators have strict rules and guidelines for the recruitment and training of bank staff, which corps members may not meet or comply with. For instance, corps members may not have the necessary certifications or licenses to perform certain functions or roles in banks.
Therefore, if you are a corps member who is interested in working in a bank, you may have to look for other alternatives. Some of them are:
- Apply for an internship: Some banks offer internship programs for graduates who want to gain exposure and experience in the banking sector. You can apply for such programs and use them as an opportunity to learn and network with bank staff and customers. However, you may need to get approval from your NYSC coordinator and your PPA supervisor before you can participate in an internship program.
- Volunteer for a non-governmental organization (NGO): Some NGOs work with banks or other financial institutions to provide financial literacy, inclusion, or empowerment programs for various segments of the society. You can volunteer for such NGOs and use them as a platform to interact with bank staff and customers, as well as to acquire some banking skills and knowledge.
- Enroll for a professional course: You can also use your service year as a chance to enroll for a professional course that can boost your chances of getting a job in a bank in the future. Some of the courses you can consider are: Chartered Institute of Bankers of Nigeria (CIBN) certification, Association of Chartered Certified Accountants (ACCA) qualification, Chartered Financial Analyst (CFA) credential, or Project Management Professional (PMP) certification.
- Start your own business: If you have an entrepreneurial spirit and a viable business idea, you can also start your own business during your service year. You can leverage on the skills and resources available to you as a corps member, such as the NYSC Skills Acquisition and Entrepreneurship Development (SAED) program, the NYSC Foundation loan scheme, or the Bank of Industry (BOI) Youth Entrepreneurship Support (YES) program. You can also partner with banks or other financial institutions that can provide you with funding, mentorship, or market access.
In conclusion, NYSC does not post corps members to serve in banks because of various reasons related to security, availability, continuity, and regulation.
However, this does not mean that corps members cannot pursue a career in banking or finance.
There are several alternatives that corps members can explore to gain exposure and experience in the banking sector, such as applying for internships, volunteering for NGOs, enrolling for professional courses, or starting their own businesses.
