The Nigerian Banking Model And Depositors’ Funds

The Nigerian Banking Model
And Depositors’ Funds
One aspect of the Nigerian Banking Model that
still needs attention is the fact that banking
staff, both male and female have to prostitute
themselves, all in the name of meeting targets
of seeking clients to come in and deposit funds.
Apart from the health complications that it
causes for the affected individuals, it is totally
unethical. In the countries where the practice
of banking were imported into Nigeria, it is
interest rates that attract cutomers’ deposits
and not ‘professional prostitute bankers’ that
the Nigerian Banking Model is currently
grooming.
Worse still, we have seen how bank directors
outrightly steal the so called targets, with the
recent prosecution of the former MD/CEO of
Oceanic Bank, who was found guilty of the
offences of misappropriating depositors’s
funds.
This aspect needs the urgent attention of the
CBN.

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