Isa Yuguda: Resourceful banker
Isa Yuguda, managine director, Inland Bank (Nigeria) Plc, has worked assiduously to make the bank one of the leaders of the upper class of the banking industry. Within the past one year, it has met the new N500 million equity for Nigerian banks. It did so through 200 million shares of 50 kobo at N1.20 per share which was over subscribe.
The bank invested on information technology by putting in place new on-line live software package which is among the best in the industry. This eases operations and enhances efficiency. Within the past year, Inland Bank opened three cash centres in abtu, Bauchi, Ikeja and Kano. It planned to open a full branch in the second quarter of this year in Ikot Abasi to service the Aluminum Smelting Company and the local community.
In the last one year, the bank's deposits increased form slightly below N2 billion to over N4 billion while the total assets have increased from N2 billion to N5 billion. Inland Bank is blessed with supportive shareholders, a responsible board of directors and management team, and a loyal clientele base. The bank boasts a high quality staff which is both experienced and dedicated. The bank's internal control systems have also helped to check and curtail improper conduct. It invests heavily on staff training involving both internal and external resource persons.
Yuguda commends the resourceful contributions and guidance of regulatory authorities especially the Central Bank of Nigeria and their external auditors in helping the bank achieve steady growth. Inland Bank at 10 this year, in the expectation of Yuguda, will in the next 10 years be one of the top banks in Nigeria with branches in all states of the federation. Then, the bank with its full automation and proven reputation for high integrity and sense of discipline, would have become the bank of his dream.
He applauds the establishment of the Abuja Stock Exchange which he sees as a positive development. This ase, he said, will encourage competition in the private sector . He says the gradual privatisation is alright in order to ensure that the process of privatisation is judiciously done. nitel is already shaping up for privatisation since there are private operators already operating. Yuguda believes that Nigeria's economy has tremendously promise at the dawn of the new century given our quest for democracy and the present efforts to lay a foundation for democracy.
Newswatch June 29, 1998
" Newswatch 1998