The Central Bank of Nigeria (CBN) has certified three banks as having completed Control Objectives for Information and Technology (COBIT), the much needed IT strategic plan that focuses on incorporating IT and business management.

The plan also translates business requirements into service offerings and leads to the development of strategies to deliver these services in a transparent and effective manner.

A recent study conducted by Accenture on the 19 banks operating in the country showed that only three banks have completed implementation of COBIT while four others’ implementation is ongoing.

CBN did not give the names of the banks but it was learnt that for the second aspect of Strategic IT Alignment, which is IT Infrastructure Library (ITIL), seven other banks have completed their implementation while six have their implementation ongoing.

More so, ITIL level of completion per standard has recorded 47 per cent and COBIT level of completion per standard has recorded only 20 per cent. It was learnt that the level of completion, however, for capacity for both stood at 53 per cent.

The service strategy volume of ITIL focuses on the alignment of business and IT so that each brings out the best in the other. It ensures that every stage of the service lifecycle stays focused on the business case and relates to all the companion process elements that follow.

The Strategic IT Alignment standards are translation of business vision and strategies into multi-year IT investments and operating plans as well as impacts of Information Technology on the enterprise’s performance measurement. Its purpose provides a framework for ensuring that business vision and strategies are translated into IT investments and operating plans.

It was revealed that the process, which was based on this report that CBN in January this year released IT standards to commercial banks to ensure quality service delivery in the banking system. In the circular to all banks, the CBN said the standards were pursuant to the need to identify and adopt global IT standards for Nigerian banks.

It said the standards would serve as reference points to ensure quality IT service delivery through infrastructure transformation programme.

The circular added that the blueprints for the standards and the framework had been defined and released for adoption pending the completion and launch of the Bankers’ Committee IT Standards Portal.

The apex bank said the IT Standard Council would be reconstituted after two years and would drive the adoption, implementation and compliance to IT standards in the banking industry.