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•Kola Ayeye

We need unconventional methods to recover loans from big debtors – Ayeye

Kola Ayeye led the group that resuscitated the former National Bank, which later merged with Wema Bank. Thereafter he was appointed by the CBN into the board that restructured Mainstreet Bank, which was bought by Skye Bank. He recently left AMCON where he served as the Executive Director in charge of recoveries and resolutions to become the   Group Managing Director/Chief Executive of Growth and Development Limited. In this interview,  Ayeye shares lessons  from his over 30 years experience in the financial sector as well as the  the mission  of GDL to address the collapse of the nation’s social infrastructure and empower the middle class.

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Shareholders differ on imposition of fine by regulators

I think regulators are too harsh on companies with the numerous and high amount of fines they impose on companies. The money that companies pay as fine is shareholders own. So I feel regulators should be soft pedal on the fines they impose on companies. It is the employees that somehow flout some of these rules. Why should shareholders bear the brunt? Also, the amount of fine they charge these companies need to be reviewed. For instance, the Central Bank of Nigeria, CBN, for a single offence, charges not less than N50 million. This is really too much and is affecting the amount that would have been given us as dividend.

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Insurance is the safest form of risk transfer mechanism -Ilori

We have different kind of losses and they could be financial, psychological, emotional or sentimental. On the other hand, people have different ways of handling their risk either through risk avoidance, risk reduction, risk retention, risk sharing and risk transfer. There is one way of risk handling that is cultural but fast disappearing especially when it comes to supporting ourselves, which is our large family culture.

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Why we are in dialogue with Nigerian government — American investors

President, American Business Council (ABC), Dr. Lazarus Angbazo, who is also the Managing Director of General Electric (GE) in Nigeria, along with the Vice President of ABC, Darrell McGraw, and US Commercial Counsellor,  Brent Omdahl, as well as other leaders of ABC, in this interview against the backdrop of the recent survey report of American businesses in Nigeria, spoke on a number of issues concerning the Nigerian business environment, and the role of American businesses in Nigeria. Excerpts:

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