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Afribank’s boss lists debt recovery, others as key priority areas

Top on the priority list  of Mr. Nebolisa Arah-led Management team in Afribank Nigeria Plc would be debt recovery, stabilization, confidence building and improvement of processes.

Disclosing this at the weekend to the staff of the Bank in Lagos, Mr. Arah , Group Managing Director/CEO of Afribank, stressed that ““we must recover the loans. It is a rape. The authorities are determined that we must get those loans back into the coffers of the Bank””.

“The task ahead of us is clear. All of us are going to be involved and we must see the present challenges facing the Bank as an opportunity to redefine our presence in the market. We must return to the basics of banking and set agenda for ourselves. We will work-hard to change the mix of our assets”.

The new Group Managing Director noted further that the new team will work on the business continuity plan along with the staff in order to ensure the smooth operations of the Bank. He explained that the action Plan of the Management will be anchored on ““stabilization, restoration of confidence and improved business process and performance””.

“We are succeeding in our first key assignments which are to stabilize the Bank, secure and sustain the confidence of the banking pubic, our customers and stakeholders on the ability to serve them better and more efficiently””.
“I believe that there is light at the end of the tunnel. There is much value in the brand and assets of the institution. With the support of staff, we will come out of the present situation stronger and better”, Mr. Arah assured.

Mr. Arah listed the strengths of Afribank which will aid its market acceptance as rich experience, wide diversification, strong work force, robust IT, market friendly services and products, sound business plan and commitment of staff.

He added that the present management will work hard to ensure that the Bank will not request for further funds from the Central Bank of Nigeria.
“Our desire and goal is to ensure that we achieve much in less time. We will soon be in a position to be net placer of funds at the interbank market.”


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