By Babajide Komolafe
The Central Bank of Nigeria (CBN) has set up a tripartite committee to harmonise the records of Savannah Bank in preparation for the re-entry of the bank into the banking industry.

The committee  comprises officials of   the CBN, Nigeria Deposit Insurance Corporation and management of Savannah Bank. The committee is to harmonise the handover undertaken by NDIC and management of the bank nationwide and make recommendations. Thereafter, the bank would commence account verification before it finally opens for banking.

Meanwhile,   the top management of the bank  has  held a three-day strategy session facilitated by the bank’s Financial Advisers, PWC Global Network, part of the strategic plan to re-launch the Savannah Bank brand into the competitive banking market in Nigeria.

Vanguard was reliably informed that  to ensure that a unique brand with fresh customer insight is created, the Casers Group, DDB: Lagos participated in the brainstorming session focused on transforming the bank into a specialised brand with a key market niche. DDB: Lagos is expected to help refresh Savannah Bank’s brand equity with more viable creative solutions that will create the new desired distinct brand being midwifed by PWC.

“Now, research findings revealed that the key players in the banking sector have continued to fall short of delivering on the most basic areas of customer service, customer support and back office operations, thereby not optimally meeting the demands of the customers.

Savannah Bank is set to bridge this gap with the right people, culture, resources and service delivery that will support and grow a new buoyant middle class through a deliberate policy designed to empower the customers,” a source told Vanguard.

Leading the strategy session, Mr. Steve Burke of PWC South Africa and Mr. Ken Igbokwe of Nigeria office, were assertively confident in their presentations that Savannah Bank’s re-entry, given all the efforts and available information, will excel in the core service area being planned.

It would be recalled that   the CBN had on February 20, 2009, restored the operating licence of Savannah Bank following a Federal High Court order which nullified the revocation of the bank’s licence in 2002.