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Nigeria: We've Come Out of the Woods, Says Wema Bank
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This Day (Lagos)
14 May 2008
Posted to the web 14 May 2008
Tunde Sanni
Ibadan
Acting Managing Director of Wema Bank Plc, Mr. John Aboh yesterday painted a positive picture of his bank,saying the bad press generated with the leadership crisis in the bank has made it stronger.
Aboh, who led his management team on a courtesy call on the Oyo State governor, Otunba Adebayo Alao-Akala, restated that there is an on going internal mechanism for an amicable resolution of the crisis.
He remarked that inspite of the leadership crisis, the bank never wavered from its obligations to its customers.
Aboh disclosed that notwithstanding the bad press, the bank has continued to sponsor new branches, hinting that three new branches in Ogbomosho Ede and Oshogbo are underway to join the bank network of branches soonest.
The Wema Bank boss said: "Despite the wish of the enemies for the bank to go under, we are going from strength to strength and waxing stronger.
"We have growing deposit and despite the bad press, no customer has been turned back as customers walk into any of the branches o the bank to transact business, unhindered."
According to him, "As I speak to you now, in a couple of two weeks time, we will have three of our branches opened. One in Ogbomoso, one in Ede and another one in Osogbo, despite what enemies of the bank would like to hear that Wema is going under. We are rather going from strength to strength.
"You have nothing to fear with the bank. As a matter of fact, when we concluded our retreat, we re-invalidated our strategies to be one of the best five banks. We have marked out clear strategies on how to get the bank to that enviable height.
"We all know that Wema Bank is one of the lasting legacies for the Western region. The dream of our forefathers when they started the bank was to use it as an economic enabler for the residents and the indigenes of this part of the country. And I think over the last 63 years or so the bank has been tremendously playing the roles."
In his response, Akala said he was happy that the bank has been able to overcome the leadership crisis and repositioning itself in the banking industry.
The governor was satisfied that the problem the bank faced was not that of fund but of management, and tasked the stakeholders of the bank to make the bank alive and healthy.
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He saluted the regulatory bodies , especially National Deposit Insurance Commission (NDIC) and Central Bank of Nigerian(CBN) for tolerating the bank while the management problem lasted.
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