Abstract
<p>The purpose of this qualitative exploratory case study was to identify components of an exemplary leadership development program that might serve as a framework for training leaders for banking organizations in Nigeria. We recruited 30 managers, supervisors, and officers with at least 10 years of banking experience to explore leadership development at First Bank of Nigeria’s headquarters in Lagos, Nigeria. Face-to-face interviews focused on exploring what type of corporate leadership training strategies worked for First Bank of Nigeria. Four major leadership development strategies that worked best for First Bank emerged from analysis of the qualitative data obtained: (a) classroom, online, and on-the-job training; (b) mentoring; (c) coaching by a shadow manager; and (d) personal development and work-life balance. First Academy, the training arm at First Bank of Nigeria, has made valuable contributions to developing leaders in the fast-paced Nigerian banking industry. Other banking organizations in Nigeria may want to incorporate leadership training strategies used by First Bank of Nigeria.</p>
Highlights
The availability of leaders has been a major problem for many years in most developing nations, in the continent of Africa, where nepotism, tribalism, fraud, and gender/race discrimination have been prevalent in both private and governmental sectors of the global economy
Talent development is key to success and First Bank in response for the need for recruiting, training, managing, and retaining of a pool of talented leaders established First Academy Foundation School in 2011 in recognition of the lack of business leadership programs in the banking industry
Leadership development nurtures the creative potential of employees and enhances organizational effectiveness (Amagoh, 2009; Houghton & DiLiello, 2010; Mabey & Finch-Lees, 2008; Obisil, 2013)
Summary
The availability of leaders has been a major problem for many years in most developing nations, in the continent of Africa, where nepotism, tribalism, fraud, and gender/race discrimination have been prevalent in both private and governmental sectors of the global economy. The development of leadership involves the process of identification, recruitment, training, and engagement of individuals to assume leadership roles in any organizational structure. As stated by Allen and Roberts (2011), “Leadership development is a continuous, systemic process designed to expand the capacities and awareness of individuals, groups, and organizations in an effort to meet shared goals and objectives” (First Bank) is a leading century old global financial institution headquartered in Lagos, Nigeria that operates in the continents of Africa, Europe, and Asia with international presence in London, United Kingdom; Paris, France; Johannesburg, South Africa; Beijing, China; Abu Dhabi, United Arab Emirates; and Kinshasa, Democratic Republic of Congo. In the 1960s, the bank emerged as the Bank of West Africa and became the Standard Bank of Nigeria. First Bank employs more than 10,000 culturally diverse staff in 12 subsidiaries consisting of asset management, investment banking, capital markets, insurance, microfinance, private equity, mortgage, and pension custodian services
Sign-in/Register to view highlights & summary 
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
