VC Tasks Union Bank on Virile Banking

FUNAAB VC, Prof. Oluwafemi Balogun (Left),  listening to the Zonal Coordinator, Union Bank Plc, Mr. Adeleke Ogunde during the Bank officials’ courtesy visit to FUNAAB.

The Vice-Chancellor, Professor Oluwafemi Olaiya Balogun has charged authorities of the Union Bank Plc on how to sustain customers and put the financial institution on a solid footing in the nation’s banking industry.

Professor Balogun, who disclosed that he had been banking with the Union Bank Plc, since 1971 made this known when the Bank’s Zonal Coordinator, Mr. Adeleke Ogunde and Head of Operations, Mr. W. A. Olasunkanmi paid him a courtesy call, at the Council Chamber.

The Vice-Chancellor enjoined the Management of Union Bank to, as a matter of necessity and urgency, drop its conservative style of operations and embrace the modern, pro-active approach by engaging the right personnel who possess fresh and dynamic ideas that could move the Bank forward.

“I want to advise that conservatism has to be removed, not that you won’t follow the best practices but there is need to relax. When you have too conservative elements that are not allowing fresh ideas, you will be having problems. Some of your personnel have lost steam, they have lost ideas and that is why they are still doing the same thing, the same way”, he added.

Speaking further, Prof. Balogun while responding to the remarks of Mr. Ogunde, also advised the Bank’s Management to embark on  image laundering of the financial institution, using its strength in assets, as a launching pad.

He disclosed that FUNAAB had been patronizing Union Bank Plc, since 1983. He was of the opinion that what was needed for the Bank to get more patronage from tertiary institutions is for the Management to step up on its social responsibility programmes.

The Vice-Chancellor, however, warned that except the measures identified were put in place, high level patronage will continue to elude the Bank.

“When we have a meeting like this, we shouldn’t make political statements or deceive ourselves.  It is difficult for you to gather customers but it is very easy to disperse them.  Some of your customers, who watched helplessly as their money disappeared later suffered semi-paralysis as a result of sudden shock”.

“We only hope that history won’t repeat itself.  The fear of Nigerians today lies in the ugly experiences of Cadbury, Unilever and the Banking industry.  We shouldn’t deceive ourselves, once beaten, twice shy”.

Prof. Balogun, however, assured the Bank that: “morally, I will find it difficult to stop patronizing you.  Anywhere we are that affinity and morality will always count”.

Earlier in his speech, the Zonal Coordinator of the Bank, Mr. Leke Ogunde dismissed as untrue and misleading, a media report that the Bank has been put on sale.

Mr. Ogunde admitted that though the Bank had some tough times, but gave the optimism that it was already coming out of the challenge stronger, to serve customers better.



Last Updated on January 31, 2012 by admin

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