BDAN sues for effective stakeholders’ relationships by banks

Dr. Sunny KukuTO ensure that banks survive and win in a competitive market, it is imperative for banks and other financial institutions to identify engage and manage their key internal and external stakeholders.

This was the remark of the President, Bank Directors Association of Nigeria (BDAN), Dr. Sonny F. Kuku during the 2015 Stakeholders’ Forum of the association held in Lagos recently.

Kuku acknowledged that with the recent challenges confronting banks and other financial institutions in Nigeria and even beyond, it has become necessary for organizations, including banks and other financial institutions to be creative and proactive in their services in order to retain and sustain the continuous loyalty and patronage of their customers.

Among the challenges he enumerated as confronting Nigerian banks are; the recent introduced, Treasury Single Account (TSA) introduced by the CBN,  the recent removal of Nigeria from the global Risk Index , the CBN’s delisting of 41 items from its foreign exchange funding window and the various penalties awarded to some banks for regulatory infractions.

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