Determinants of Undergraduate Banking and Finance Students' Intentions to Pursue Chartered Institute of Bankers of Nigeria (CIBN) Professional Certification in Nigeria

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Authors: ADEMOLA, Abimbola Oluwaseyi

Abstract

In Nigeria’s evolving financial sector, the Chartered Institute of Bankers of Nigeria (CIBN) certification is widely recognized as a pathway to enhanced employability, competitive advantage, and professional credibility. Despite these benefits, enrollment among undergraduate Banking and Finance students remains suboptimal. This study explores the determinants influencing students’ intentions to pursue CIBN certification, drawing on the Theory of Planned Behavior, Social Cognitive Theory, and Human Capital Theory. A purposive sample of 125 final-year students from Ajayi Crowther University, Osun State University, and Federal University Oye-Ekiti was surveyed. Data were analyzed using ANOVA, multiple regression, and factor analysis. Results reveal that male students, those from high-income backgrounds, and students with higher academic performance are significantly more inclined to pursue certification. Key motivators include competitive advantage (β = 0.31), employment opportunities (β = 0.22), and high earning potential (β = 0.17), while high exam cost (β = -0.33) and fear of failure (β = -0.25) are primary inhibitors. Factor analysis further highlights the role of awareness and self-efficacy in shaping intention. The findings underscore the interplay of economic, psychological, and academic factors, offering practical implications for educators, certification bodies, and policymakers. Strategic interventions addressing financial barriers, building confidence, and increasing awareness could improve uptake and support the professional development of future banking professionals in Nigeria.

Keywords: Professional Certification, Banking and Finance Students, Career Intentions, Motivational Factors, Inhibiting Factors