Chilo Offiah
Chilo Offiah: Outstanding Professional
Chilo Offiah, managing director/chief executive officer of FBN Merchant Bankers Limited, has been the pioneer CEO since inception in 1990 and has in less than a decade positioned the bank among the leading merchant banks in Nigeria. At the end of its first full year of operation in 1991, FBN (Merchant Bankers) had an asset base of N420.27 million, total deposits of N279.5 million, a gross earnings of N103.74 million and profit before tax of N21.77 million. Eight years later, when some of its peers have fallen victim to distress and liquidation by the regulatory authorities, the bank's financial record for 1996 (its last published report) showed good performance. Total asset was N4.48 billion, total deposit was N2.72 billion, gross earning was N966 million and profit before tax was N230 million.
The bank's spectacular success owes a lot to the intimidating credentials of Offiah and his commitment to compromising nothing in moving his bank to great heights. He started his banking career in 1970 in Enugu where he picked the rudiments of the profession. He attended the New Hampshire College, Manchester, New Hampshire where he obtained a bachelor of science degree in accountancy. Offiah was also at the North-Eastern University, Boston, Massachussetts, USA, where he acquired the master of business administration in banking and finance. He also attended the prestigious Harvard Business School's executive education programme. Offiah also has professional qualifications including the fellowships of the Nigerian Institute of Management; the British Institute of Management; the British Institute of Bankers; The chartered Institute of Bankers, Nigeria, and Institute of Credit Management, Britain.
Apart from his qualification, Offiah had foreign banking experience in the US and the UK including being consultant / loan officer, First National Bank of Boston, Massachussetts, USA. At the Standard Chartered Merchant Bank, London, he was exposed to merchant Banking services. With such balanced banking exposure and his performance at First Bank of Nigeria, it was only natural that Offiah be called upon to mid-wife FBN (Merchant Bankers) at inception. He has not misplaced the confidence reposed in him. He has employed the immense goodwill of First Bank of Nigeria to good use in positioning FBN (Merchant Bankers) as a provider of efficient merchant banking services.
Newswatch June 29, 1998
" Newswatch 1998