‘Learn from past mistakes’

By Nsikan Ikpe

Analysts have charged the Bank of Agriculture, BOA, to ensure that it learns from its past pitfalls, even as it takes delovery of a new support facility fro the African Development Bank, AfDB.

This is coming after Prof. Danbala Danju, BOA’s Managing Director, has revealed that 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