AfDB doles out $1.2m to reposition Bank of Agriculture

Posted by News Express | 21 November 2016 | 1,998 times

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Prof. Danbala Danju, the Managing Director, Bank of Agriculture (BOA), says the African Development Bank (AfDB) has provided a $ 1.2 million grant for the repositioning of the bank.

Danju told newsmen in Sokoto on Sunday, that the repositioning would enable the bank operate according to global standards.

“Repositioning the bank established over 43 years ago requires a lot of resources.

“In this direction, the grant will enable the bank to use international consultants to carry out best practices.

“It also allows for skills audit in order to have adequate manpower and do more internal and external trainings.

“This will also help us to improve the financials, governance, computerisation and risk management, among others.”

The managing director also said that about N5 billion was required to computerise the bank’s 136 branches nationwide.

“We need to deploy the latest technology in our branches, so that they can talk to themselves, real time.

“More branches must be opened, while we are pondering on employing the model of agency banking, which is the vogue globally now.

“We must also re-engineer the bank’s business models and specialists will be engaged to craft it to be in tune with what is available in Nigeria.”

Danju said that the repositioning when completed, would qualify the bank for a loan facility of between $200 million to $300million from the AfDB. (NAN)

•Photo shows President, AfDB, Adesina.


Source: News Express

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