The Department of Banking and Finance was established in 1985 under the Faculty of Social Sciences, making it the first State University in Nigeria to have a Department of Banking and Finance, with the intention of building internationally competitive graduates. The department of Banking and Finance was one of the three departments that were calved out from the Faculty of Social Sciences in the year 2000 when the new faculty was established (Faculty of Management Sciences).
Ever since 1985 the department has produced high quality graduates that spread across every facet of life
Philosophy of the Department
The general philosophy is to develop the mind, impact both theoretical and practical knowledge of Banking and Finance on individuals who will be self confident, innovative and self reliant. The need to develop men and women of good behaviour, unquestionable character, ethnical conduct and moral uprightness couple with sound academic and professional competence that will enable our graduates to compete adequately with their peers both in and outside Nigeria are part of the components of the philosophy of B.Sc Banking and Finance Programme in the Faculty of Management Sciences, University of Ado-Ekiti, Nigeria. The department is designed to equip graduates of the Departments with the required analytical and managerial skills necessary to prepare them for the challenges of middle and top management positions, particularly in banks, other financial institutions and most organizations presently in direct need of financial experts. Graduates of the department are also to be trained to be self employed through entrepreneurial knowledge acquisition.
Mission and Vision
The main aim of this department is to become a unique centre for building and training of graduates who will not only be self reliant but will become professionals, business executives, financial experts, leaders and trainers who will contribute substantially to the rapid economic and financial growth and development of the Nigerian economy and the world economy at large.
The department aims at producing high caliber Banking and Finance graduates capable of taking up responsibilities positions in banks, non-banks, financial institutions, business organization, Ministry of Finance, Economic Planning and Development and Commerce in general.
The Department of Banking and Finance has the following objectives:
(a) To produce competent and high caliber Banking and Finance graduate capable of taking up responsible positions in banks, non-bank financial institutions, business organizations. Ministries of Finance, Economic Planning and Development including General Commerce.
(b) To equip the graduates with the required analytical human relations, communication and managerial skills necessary for preparing them for challenges of middle and top managements positions in banks, other financial institutions and other sectors of the economy particularly in dire need of finance experts.
(c) To develop the attributes of leadership and lubrication of interpersonal relationships required for working in industrial, commercial, educational, public and other organizations.
(d) To contribute to the knowledge and practice of Banking and Finance, through research.
(e). To train expert in financial management who will be self employed through entrepreneurial acquisition.
General Services and Academic Programmes
The department offers degree programmes leading to the award of B.Sc (Hons), PGD Financial Management, M.Sc, and Ph.D Degrees in Banking and Finance with the existence of six main areas of specialization which include the followings:
i. Management of Banks and Non Banks Financial Institutions
ii. Corporate Finance
iii. International Finance
iv. Public Sector Finance
v. Research Methods in Finance
vi. Small & Medium Scale Business
Admission Requirements and Entry Qualifications:
The entry requirements for the B.Sc Honours degree in the Faculty are the same as those for entry to the University, but must include credit in Mathematics and English Language at West African School Certificate or Senior Secondary School Certificate (SSSC) or National Examination Council (NECO) and the General Certificate of Education, Ordinary Level.
However, there are two entry points into B.Sc (Hons) Banking and Finance programmes, viz
i. Students seeking admission into four-year degree programme in Banking and Finance should possess a Senior Secondary School Certificate or General Certificate Examination or their equivalents with five credit passes which must include English Language, Mathematics, and Economics.
ii. For three-year programmes, a candidate is expected to meet the minimum entry requirement into University in addition to possessing passes in Economics at the Advanced Level and credit passes in Mathematics and English Language at the Senior Secondary School Certificate or General Certificate Examination or their equivalents.
Holders of OND in Banking and Finance, and Financial Studies of any recognized Polytechnics, Diploma Certificate in Banking and Finance obtained from any recognized University may be considered.
Also the Department started its Post-Graduate Programme in the 2002-2003 sessions. It is being managed by senior lecturers in the department and other sister departments as visiting adjunct professors.