Mohammed Sabo Nanono
MOHAMMED NANONO: VISIONARY BANKER
Mohammed Sabo Nanono, managing director and chief executive officer, African International Bank, AIB, Limited, is a man who has made a name for himself in Nigeria's financial system for resourceful management. He success in handling the BCCI (precursor to AIB) crisis is remarkable. Nanono, says that with the support and understanding of the federal government and the Central Bank that provided it loans, it overcame the bad days. The bank has not only paid up the loans, but has started earning good profits again.
For its last financial report for 1996, AIB had a balance sheet worth N11.17 billion, reflecting growth of 69 percent and deposits of N4.44 billion. The bank had a gross earning of N2.03 billion and a profit before tax of N529 million. Moreover, it was among the first banks to meet the new minimum equity of N500 million for banks set by the Central Bank of Nigeria.
Another index of AIB's bounce back and full recovery is that the bank recently built the AIB Plaza, a magnificent head office building located in Victoria Island, Lagos, to provide ample space and convenience to serve its clients, as well as project a good corporate image for itself. It stands out as a great architectural masterpiece with all the facilities like generator, water supply, car parks and garden. Its location is also strategic and scenic.
AIB today serves as a key player of Nigeria's money market offering comprehensive commercial banking services, and active in the autonomous foreign exchange market. The bank looks forward to being one of the beneficiaries of the Central Bank of Nigeria diversifying itself of retail banking services it has been rendering to the government. He wants a more autonomous Central Bank of Nigeria.
Nanono is very passionate about the role of education in building the society. He says "because education is long-term, nobody cares and we are going to pay for it sometime." He wants government to invest resources in education, health services and provision of infrastructure. He applauds government's success in stabilising the interest and exchange regimes as well as taming inflation rate. Nanono led AIB to do something practical about his interest in education when the bank recently established a branch in the University of Lagos campus to engender greater and closer relationship between the academic community and finance industry.
Nanono schooled at the Ahmadu Bello University, Zaria, where he obtained a degree in business administration. The Kano-born banker with a master's degree has a firm grasp of banking and contemporary socio-political issues that reflected in his seminal contributions. His simplicity, calm and cool composure belie the bundle of talent that is his staying power. This has enabled AIB to flourish in Nigeria's financial market. With Nanono in charge, the future of AIB is assured. It has seen its worst days and now things can only get better.
Newswatch June 29, 1998
" Newswatch 1998