The competitive environment for Nigerian banking and financial services has changed dramatically. From the heyday of the financial services and banking boom in the 1990s, when the country was dotted with more than 200 financial institutions – commercial banks, merchant banks, community banks, mortgage banks, finance companies – to the new situation in which the country has fully progressed. in the era of universal banking with 24 banks operating in the country (Sanusi, 2012). Nigeria's declining economy and banking sector experienced a systemic crisis in 2009, triggered by the global economic crisis, which was followed by the collapse of the Nigerian stock market. After the stock market crash of 2009, in which 70% of value was eroded, many banks were able to diversify into non-bank financial activities. The UB model was introduced in 2001 as part of a comprehensive reform and consolidation program carried out by the Central Bank of Nigeria (CBN) under the leadership of former CBN Governor, Professor Charles Soludo. As a result, Nigerian banks were consolidated through mergers and acquisitions, with the minimum capital increased from N2 billion to a minimum of N25 billion. This policy reduced the number of Nigerian banks from 89 to 25 in 2005, then to 24 (Sanusi, 2012; CBN Economic Report, 2013). One of the banks that obtained the universal banking license is FCMB – First City Monument Bank. Under the new model, licensed banks were allowed to carry out the following types of activities: commercial banking (with regional, national and international scope); merchant (investment) banking; specialized banking services (microfinance, mortgages, interest-free/Islamic banking); and financing for development (Sanusi, 2012). In response to this changing and evolving climate, an attempt to elevate the perceived value of HR in banking has emerged. Banks have begun to explore innovative strategies to attract professional and highly motivated executives; this was in addition to massive workforce development programs to retrain existing workers.