The risk of bank failure snowballing into contagion that might culminate in the eventual collapse of an economy necessitates the need to put in place a robust banking regulation and supervision framework to curtail excessive risk-taking. Therefore, to avoid systemic risk and ensure sound, stable and healthy banking / financial system, it is imperative to equip banking supervisors not only with the tools but also update their knowledge to be in line with current development and challenges in the banking / financial sector.