I don't envy does marketers at all. Their job is more like selling ice to Eskimos.
Imagine a bank marketer trying to convince me to open an account with his bank when I already have 4 accounts with 4 different banks.

Pls who is the CBN governor again?? This one seems to be so unpopular

Very good move.

Na now una dey wake up after alot of dem don carry Aids..dey ve bin made coporate ashi

Finally! Enough of exposing ladies to immoral activities & unrealistic targets all in the name of making money for the bank.

Good move
At least it will bring some sense of sanity to the marketer's
It baffles me why bankers have to go down on their clients to bring money that is not even yours

In other western world the loan officer earn more than the marketer'

If my future wife happens to b a banker, she must resign,...i mean must...

Good news but so many lunatics on this forum.

I love dis new Governor u re doin ur job, almost al d bank ladys hav gone into prostitution in d name of meetin target. Dey will be cheakin ur account to see if u hav large amount of money so dey can apply u thanks man nice work

See who is talking. Emefiele that almost killed us in Zenith bank

Adesiji77:
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

Banking industry in 9ja is equivalent to prostitution industry.... U see a damn beautiful gurl opening up her leg in other to meet the supposed target.

They don't have choice if i promise to open up an a/c with N5m,she gon give it to me.

Thats why dem female bankers find it hard to marry,they keep lamenting that the cleaners keep getting married while em being the classy chic ain't getting attention from men.

Dats good


Please enforce it

Before some Female Bankers turns from

COMMERCIAL BANK MARKETERS to COMMERCIAL SEX-WORKERS

BEFORE WE BARRAGE OUR BANKS TO DEATH

These days, I am always saddened when I go into any banking hall in Nigeria. The environment is often depressing. Maybe it’s that desperate look on the faces of the staff, that tells you they’ve been barraged and insulted this morning, threatened that their jobs could disappear at any moment. The culture has always been that the board asks the MD to perform the impossible, all they are interested in is the huge profits. The MD equally unleashes terror on his EDs and GMs. It’s like nuclear energy. You know, the atomic bomb. It starts small, but by the time it rolls down the rank and file, it picks up velocity, meanness and wickedness. This culture is what drives many a ‘bank worker’ to hate the system so much, they too start thinking of defrauding the banks. By the time the hateful energy reaches the guy on the shop floor, he just can’t take it anymore. It also drives them to make mistakes in their duties, apart from taking their dignity away.

The marketing guys bear the brunt. These days, many banks have employed marketers based strictly on commission. Some earn just N30,000 (less than $200) a month, if they don’t manage to open new accounts. Marketing cars? Where you see am? I see them sometimes trekking long distances after leaving my office. It’s depressing. Banking is far from what it used to be. In my first exposure to being a relationship officer, in 1997, I was allocated about 14 accounts, and told to grow the business on them. I was given a bit of pressure to open new good relationships. But today, the management of banks no longer care about relationships. They give instructions to their staff to go open 10,000 accounts each. Let me give them a feedback right here right now; it is damaging to your business, to the psychology of your staff, to how we the customers view you, and to the banking profession at large. It just does not make sense. How on earth is anyone going to manage 10,000 accounts? Not even 1,000. Not even 100.

What happened to banking? Most of the problem came from the executives, past and present. Nigerian banks are commercial banks. But they want to roll like the investment banks of Canary Wharf or Wall Street. Only better. They want to earn – at the top levels – better than those guys. They can even do personal deals that the Wall Street bankers would get jailed for. They live large, become high rollers. Some get courted by the government, given awards and appointed into all sorts of committees. This creates antagonism between the banks and the customers. The regulator steps in, determines the excesses of the banks, and rolls out the sanctions.

Unfortunately, it is the rank and file who suffers. The first to get wasted are those junior people. They are the first whose careers are stalled. In the days when the current executives were climbing the ladder, they knew they had a career. But today, careers are finished. What you get when you walk into a banking hall, apart from empty cubicles where they had planned to have human beings dispensing cash until e-Banking came along, are those sad eyes that I hate to look into. It’s not as if it’s easy for those of us outside, but it depresses one to see those faces, and oftentimes, to be told by them in hushed tones just how desperate things are, as they slip their CVs into your palms or obtain your email for the same purpose.

And then we all form the mob and rain down on the banks. Every customer is sure that they are overcharging his/her account even if there is no evidence. No one wants N1.00 to be taken as charges for anything. Some banks used to pay you for withdrawing money from your account. When I see the fees they take for sundry services, I wonder how they survive. For me, the issue is not generator and diesel. As standard businesses, with loads of staff to pay, you have to generate some good income. Nigerians say the banks should face their core business of lending. But we forget that even we Nigerians are very bad debtors. See what we had to move to AMCON, bailouts for many of our big men, many of whom hold national awards! The nation as a whole had to pay. For normal customers, 70% - 80% of the loans go bad. You give a loan and the man thinks it is just cash flow by any means. He decides to re-bury his grandmother who died 25 years ago! He pays tithes of 10% to his church because his pastor told him “you have to pay on every cash flow so that ‘Gaaad’ blesses the rest!!”

But I urge that we have a rethink about the way we have been raining down on our banks. They are shrinking. Their businesses are shrinking. Even their staff are shrinking in size. No, it’s not the gym. It’s the stress and bad cash flow. It’s the sanctions they receive from their bosses who are mostly at their wit’s end. It’s the psychological trauma of being cursed at every meeting for not meeting ‘targets’. It’s the trauma of being employed as an internal control officer, an internal auditor, only to be asked to go and meet your family and raise N200million in new accounts. It’s the apparent failure of the current banking business model. The problem is; can we imagine how the ideal situation will look like? Certainly, the executives have to reduce their expectations. They probably have to earn less because the cash flows will not sustain the expectations of the past. But those at the lower echelon need protection from the regulators and the rest of us. They need a proper return to the days when they could be happy that they have careers. The exuberance of the Soludo days – when branches were opened everywhere at huge costs – are since over. The illusions have disappeared. The industry has shaken out. Many have been laid off. But we should not stand aside as the industry shrinks to death. Indeed we should not bring out our own machetes and inflict more blows as part of the lynchmob.

I hope the banks find their mojos back. A lot of them are just marking time. The days of innocence are gone. Even we the people will not be happy with the picture when it all comes tumbling down. It’s also about the disappearance of the middle class. The only ‘safe’ industry in Nigeria is oil and gas. Telecoms has shaken out too; is still shaking out. Let’s have some mercy for our banks and bankers please. Believe it or not, they need it.

BY:TOPE FASUA

high time joor

Abeg make una help me summarize wetin dis one dy talk..biko dis guy jst make me run go chemist mman shop for panadol....na wa

MAYOWAAK:
BEFORE WE BARRAGE OUR BANKS TO DEATH

So I get a call from an NTA reporter a few days ago. She wanted to interview me about the new policy by which banks will now have to pay customers for using their e-Channels, including ATM Machines. She also wanted to know what I thought about the directive for them to refund N17billion which they had wrongfully charged customers. She wanted the interview IMMEDIATELY, even though I needed a bit of time to research what was going on. The statements from the Central Bank had only been made the day before. I went online to see what I could find, and realized that what the CBN was trying to do, was initiate a scenario where banks will have ‘loyalty’ programs. It’s just like going to a supermarket and being issued a loyalty card that entitles one to 5% discount for repeat purchases.

I also explained to her during the interview that I believe that MOST banks do not set about trying to cheat customers, but that a lot of the refunds may be due to operational errors made on the shop floor. Well, I recall working in a bank where in those days, some of the more philistinic bosses would ask that you ‘charge the customer maximally’. But over time, especially in the last few years under Sanusi, everybody became super careful. Errors still occur, but the age of exuberance is gone. Banks have been made to adopt the best in corporate governance, their fees have been cut, COT is to disappear fully by 2016, there is even this new drive for them to embrace Sustainable Practices, meaning that their annual reports must be presented from even a broader Stakeholder perspective. The CBN wants to know if all their practices are sustainable. How have they engaged with the environment? What about their staff? What about Corporate Social Responsibility? And so on.

One of the more radical changes in the last few years, is the advent of e-Banking, which brought about a lot of transparency. Since bank customers have immediate and direct access to their accounts from the comfort of their offices or mobile phones, they are able to contest transactions more often. The banks are feeling the heat. I understand that a number of the banks were threatened with legal action by a number of their Bureau De Change customers recently, who missed the deadline of July 31 for remitting certain amounts, maybe because of systems or operational problems. Naturally, everything comes down on top of the banks. They are fair game. Not only in Nigeria but all over the world.

I recall calling my phone service provider in the UK, when in 2006 I was about to round up my Masters degree. I needed to terminate my contract, by stopping the monthly deductions they made. It was nearly impossible (they would go on charging for 7 months after I had left). But on this day, I had called my bank, Barclays, asking them to cancel the standing order. Barclays said “call your service provider to inform them, we cannot just cancel your standing order”. I called the service provider. One guy came on the phone. I explained to him what had happened. “What Bank do you use?”. “Barclays”. “Why would they not stop the standing order”. I explained. “Do you know how much Barclays made last year? Or HSBC?!” The guy was angry now. “6 Billion quid! That’s what they made. This government (UK Government) always positions business for those banks and they are so greedy. In fact even I am leaving this country. I just can’t take it anymore!” I was shocked how angry that white Englishman was. He dropped, my problem was not solved, even though it was largely the fault of O2, the service provider.

These days, I am always saddened when I go into any banking hall in Nigeria. The environment is often depressing. Maybe it’s that desperate look on the faces of the staff, that tells you they’ve been barraged and insulted this morning, threatened that their jobs could disappear at any moment. The culture has always been that the board asks the MD to perform the impossible, all they are interested in is the huge profits. The MD equally unleashes terror on his EDs and GMs. It’s like nuclear energy. You know, the atomic bomb. It starts small, but by the time it rolls down the rank and file, it picks up velocity, meanness and wickedness. This culture is what drives many a ‘bank worker’ to hate the system so much, they too start thinking of defrauding the banks. By the time the hateful energy reaches the guy on the shop floor, he just can’t take it anymore. It also drives them to make mistakes in their duties, apart from taking their dignity away.

The marketing guys bear the brunt. These days, many banks have employed marketers based strictly on commission. Some earn just N30,000 (less than $200) a month, if they don’t manage to open new accounts. Marketing cars? Where you see am? I see them sometimes trekking long distances after leaving my office. It’s depressing. Banking is far from what it used to be. In my first exposure to being a relationship officer, in 1997, I was allocated about 14 accounts, and told to grow the business on them. I was given a bit of pressure to open new good relationships. But today, the management of banks no longer care about relationships. They give instructions to their staff to go open 10,000 accounts each. Let me give them a feedback right here right now; it is damaging to your business, to the psychology of your staff, to how we the customers view you, and to the banking profession at large. It just does not make sense. How on earth is anyone going to manage 10,000 accounts? Not even 1,000. Not even 100.

What happened to banking? Most of the problem came from the executives, past and present. Nigerian banks are commercial banks. But they want to roll like the investment banks of Canary Wharf or Wall Street. Only better. They want to earn – at the top levels – better than those guys. They can even do personal deals that the Wall Street bankers would get jailed for. They live large, become high rollers. Some get courted by the government, given awards and appointed into all sorts of committees. This creates antagonism between the banks and the customers. The regulator steps in, determines the excesses of the banks, and rolls out the sanctions.

Unfortunately, it is the rank and file who suffers. The first to get wasted are those junior people. They are the first whose careers are stalled. In the days when the current executives were climbing the ladder, they knew they had a career. But today, careers are finished. What you get when you walk into a banking hall, apart from empty cubicles where they had planned to have human beings dispensing cash until e-Banking came along, are those sad eyes that I hate to look into. It’s not as if it’s easy for those of us outside, but it depresses one to see those faces, and oftentimes, to be told by them in hushed tones just how desperate things are, as they slip their CVs into your palms or obtain your email for the same purpose.

And then we all form the mob and rain down on the banks. Every customer is sure that they are overcharging his/her account even if there is no evidence. No one wants N1.00 to be taken as charges for anything. Some banks used to pay you for withdrawing money from your account. When I see the fees they take for sundry services, I wonder how they survive. For me, the issue is not generator and diesel. As standard businesses, with loads of staff to pay, you have to generate some good income. Nigerians say the banks should face their core business of lending. But we forget that even we Nigerians are very bad debtors. See what we had to move to AMCON, bailouts for many of our big men, many of whom hold national awards! The nation as a whole had to pay. For normal customers, 70% - 80% of the loans go bad. You give a loan and the man thinks it is just cash flow by any means. He decides to re-bury his grandmother who died 25 years ago! He pays tithes of 10% to his church because his pastor told him “you have to pay on every cash flow so that ‘Gaaad’ blesses the rest!!”

But I urge that we have a rethink about the way we have been raining down on our banks. They are shrinking. Their businesses are shrinking. Even their staff are shrinking in size. No, it’s not the gym. It’s the stress and bad cash flow. It’s the sanctions they receive from their bosses who are mostly at their wit’s end. It’s the psychological trauma of being cursed at every meeting for not meeting ‘targets’. It’s the trauma of being employed as an internal control officer, an internal auditor, only to be asked to go and meet your family and raise N200million in new accounts. It’s the apparent failure of the current banking business model. The problem is; can we imagine how the ideal situation will look like? Certainly, the executives have to reduce their expectations. They probably have to earn less because the cash flows will not sustain the expectations of the past. But those at the lower echelon need protection from the regulators and the rest of us. They need a proper return to the days when they could be happy that they have careers. The exuberance of the Soludo days – when branches were opened everywhere at huge costs – are since over. The illusions have disappeared. The industry has shaken out. Many have been laid off. But we should not stand aside as the industry shrinks to death. Indeed we should not bring out our own machetes and inflict more blows as part of the lynchmob.

I hope the banks find their mojos back. A lot of them are just marking time. The days of innocence are gone. Even we the people will not be happy with the picture when it all comes tumbling down. It’s also about the disappearance of the middle class. The only ‘safe’ industry in Nigeria is oil and gas. Telecoms has shaken out too; is still shaking out. Let’s have some mercy for our banks and bankers please. Believe it or not, they need it.

BY:TOPE FASUA

Why are CBN pushing this initiative, shouldn't it be NLC.
If its to collect bribe they will be first in the queue but they are not quick to protect the average Nigerian worker

singlefade25:
CBN pls do the needful, abeg.




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

amen. congrats.

All banks are guilty of it (may Allah forgive me with this allegation). They employ girls to sleep with old men and guys to sleep with sugar mummy. They turn them to corporate prostitute

rubbish talk fromn cbn.... as he rightly mentioned, it is a pure business decision so cbn should mind their business......isn't cbn going to remove COT? Didn't cbn increase the crr on public funds? So how are the banks meant to stay afloat? By giving "1 million" naira targets?

Nna men,I tire o!.the way young girls sell their body for the sake of banks.chai diaris god o!

Lero15:
amen. congrats.

thanks dear

Tell them! Those people are in the business of exploiting their marketers, and then giving them petty cash as salary

LAMENTATIONS OF A FRIEND OF MINE:

As a banker, I sincerely never look forward to resuming next day after close of business everyday. The environment is tense,vindictive, scapegoat-ish, etc.That's how condescending the banking environments are now.We hardly sleep. Am afraid, a huge implosion is on its way if the industry is not strictly regulated as regards treatment of the workforce.Bulk of bank workers nowadays are zombies,you dare not use your initiative and things go bad, and you dare not limit your focus on processes and procedures and customer complain...you will either way pay! In fact, this work is already testing my sanity. I have to leave it before my head explode.

Its about the time...

Female bankers/marketers are spoiling business for us. Those rich men claim its better to pansh them cos all dey do is promise dem money to pansh dem but our own na cash and carry