By Etop Ekanem

A Fund recovery and Banking Services Expert, Fisayo Aluko, has called on fund recovery practitioners in Nigeria to adopt best practices in their operations if they must be successful in their recovery goal.

Aluko, a top performer in fund recovery made this assertion recently in a media statement saying that the practitioners in this field cannot afford to be complacent in the discharge of their responsibility and must position themselves as true professionals if they must be engaged by clients.

Highlighting some best practices, the expert noted that fund recovery is never a walk in the park as it takes tact and professionalism to the work.

He stressed the need for fund recovery practitioners to improve their collections strategy. He notes:

“By catering to consumers’ communication preferences, giving them control and offering them choices, financial institutions and collections agencies can more effectively reach their customer base, with less effort. It’s a win-win for all.”

He mentioned that it’s important to make collection easy for debtors by opening up easy payment options.

Speaking on his banking experience he disclosed that he has consistently performed at his best putting the businesses key performing indicators in mind for the past ten years.

The cornerstone of Aluko’s philosophy is the humanization of debt recovery. He advocates for practices that prioritize communication preferences, offering debtors control and choice in their repayment journey. This approach, according to Aluko, not only eases the recovery process but also fosters a positive relationship between financial institutions and their clients. Making collections easy and accessible through flexible payment options is a game-changer, transforming a traditionally adversarial process into a collaborative effort.

“As a fellow institute of Debt recovery practitioners with about 13 years banking experience and have put in a decade experience as a loan recovery expert.

I’m also a member of several professional bodies and have received several recommendations for top performance. Unequivocally, I can tell I have ethically performed well as dept recovery expert and received recommendations.” He added.

Having served for over ten years in the bank, rising from a senior executive up until he was promoted to a Manager, and led one of the biggest region as a recovery officer in the bank.

He recounts: During my time as a regional recovery officer, I was able to reduce the non-performing loan (NPL) from 56% to 10% in three months and I was nominated as part of the task force to investigate the retail non-performing loans in the Bank, and I did exceptionally well. I have a record of reducing non-performing loans and has led several teams on a funds recovery engagement. He stated.

Drawing from his expansive tenure in banking, where he rose from senior executive to a managerial role leading one of the bank’s biggest regions, Aluko’s narrative is one of relentless pursuit of improvement and impact. His experience in reducing non-performing loans and leading recovery teams has not only benefited the institutions he has served but also contributes to raising the bar for the entire industry.

As the Nigerian fund recovery sector stands at a crossroads, Fisayo Aluko’s clarion call for adherence to best practices is both timely and imperative. It signals a shift towards a more professional, ethical, and effective framework for debt recovery—a shift that promises not only financial gains for institutions but also a more dignified and respectful process for debtors. In championing these values, Aluko is not just leading by example; he is inspiring a new generation of practitioners to elevate their work to the highest standards of excellence.