The Central Bank of Nigeria, CBN has warned commercial banks operating in the country against placing unrealistic deposit targets on their marketers. The apex bank gave the warning during the 2014 Bank Directors Association of Nigeria stakeholders’ forum held in Lagos.

The warning is as a result of the current practice by some financial institutions in the country whereby prospective employees are forced to meet unrealistic deposit target as a prerequisite for employment or promotion.

The practice, according to the CBN Governor, Mr. Godwin Emefiele who was represented at the forum by Oneybuchi Kelvin of the Banking Supervision Department, goes against the grains of acceptable ethical conduct and corporate governance. He told the gathering that the practice could induce negative moral implications.

According to him, forcing bank marketers, especially females to meet unrealistic deposit targets could influence their decision to engage in illegal and immoral acts. To curtail this trend, he said: “The CBN is using moral suasion. We have been talking to banks about it. It is a continuous effort that we are making and we see the trend coming down. We cannot sanction the banks because it a completely business decision. “But then we are telling banks that it is a wrong business decision. We have been speaking to them to change the strategy because it is affecting the banking culture and the landscape of the industry”

He added that the apex bank is working closely with the banks to reduce the amount of people that are compelled to resort to unethical means to meet unrealistic targets set by their banks. He further added that “The Governor of the CBN is using the instrumentality of the bankers’ committee to talk to the management of banks to stem down on some of these policies. The intention is not to kill the marketing departments but to reduce the pressure by reducing the unrealistic targets that they place on marketers. The target should be realistic.”

Also speaking, the President of BDAN, Dr. Sonny Kuku urged the apex bank to censor the activities of commercial banks forcing their marketers to meet up with unrealistic targets. “We cannot continue like this. It is against international best practice. Promotion or hiring should not be based on raising money to banks through any means. There has to be standard. That is the only way we can restore sanity to the system,” he said.

- See more at: http://www.vanguardngr.com/2014/11/stop-placing-unrealistic-targets-marketers-cbn-tells-banks/#sthash.US9EO1Wj.dpuf

CBN pls do the needful, abeg.




First to comment, so happy o. Good news coming my way in Jesus name

Please tell them o

OK

Now it's either someone close to him has just been hit by this practice as all I see here is moral cry as if he is a noon in the system that just noticed it

2 who is his pastor

3 are they just getting wind of this mtcw

Hmmmm, Na today









Dem go hear

Tell dem, dia own too much!

So true.

Commercial banks is now the hotspot for high profile prostituti0n. Imagine telling someone to ensure a customer deposit #100million every month,without arming them with Ak47,or rocket launcher.

A friend was displaced from her job when she couldn't meet up.

Bank marketers are modern day slaves..forget those suit,and ties they wear,behind the ties,and suits lies a groaning heart,bedeviled with pains..

A country filled with political thieves
What do you expect from it's affiliates bodies?
Theftocracy!!!!!!!

Abi ooo. it's abnormal.

Enforce it.
It is good to give targets for sales position but not unrealistic ones.
Targets should be commensurate to remuneration.
Targets should be monthly or weekly as the case may be.

They don't get paid enough and so they wear tattered clothes which gives you a bad image.
Some banks do not pay any allowance and you are paid according to what you bring in.
Insurance is worst.
Software sales for IT firms is also a part of this.

Pay basic salaries
Give transport allowances.
Give them the necessary tools.
Better still provide clothing allowance and perhaps a vehicle.
Employ and engage marketers you can take care of.

Talk is cheap CBN, enforce it and punish those who do not comply.
I weep for marketers who are not being taken care of. Carrying folders and wearing thick suits under thick sun all sweaty and hanging around newspaper stands.
I weep that they are the readily available jobs in Nigeria.

I salute those who love and have a flair for marketing and are being treated well by their organization.

I love this. Hope they listen to the governor. Sincerely its getting out of hand. Arrant nonsense!!!

nice move cbn

that one nor consign Head of Marketers ooo

Wonderful!!! One odekwu for you Emefiele!!!

But, unfortunately, the supervisors will may not comply and nothing will happen...

Long overdue

and then they will slash their salaries accordingly.
no free lunch in bank

ok






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