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.

Foreign investors’ apathy to FGN bonds, which sent yields to eight months high last week is expected to persist this week.

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.

Nigeria’s leading companies quoted on the Nigerian Stock Exchange, NSE, have dented the picture of a recovering economy as painted by several macroeconomic performance indicators released by key financial and economy authorities.

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.

ONE of the ways businesses reduce the risk of decline in revenue due to delayed payment for goods and services is the use of Direct Debit.

New entrants into the banking industry must have a clear strategy to focus on unmet needs otherwise they will join struggling segment of the sector.

Relief is on the way for the estimated over 7 million passengers plying Lagos roads on a daily basis, as Heritage Investment Services Limited (HIS), has signed a Memorandum of Understanding (MoU) with Tuchi Technologies Nigeria Limited to provide affordable mass transit for commuters in Lagos metropolis, which Heritage Bank Plc is the banker to the project.

Phillips Consulting Limited (PCL) has introduced Intellect Digital Core Banking solution into the nation’s financial services sector

Great Nigeria Insurance Plc has deployed a digital platform known as GNIOnGO aimed at increasing its retail business sales.