Tony O. Elumelu, MFR

Outgoing Group Managing Director, United Bank for Africa (UBA), Mr. Tony Elumelu, has identified infrastructural deficit as the greatest challenge confronting the banking industry in Nigeria.
He also said he was leaving UBA with a sound financial banking footing, which would match the test of time among the banks in the country.
Elumelu said this at Egosi-Ile, Kwara State, while performing the commissioning of a new branch of the bank.
He said if banks were well developed and maintained, there would be the propensity for all and sundry to be part of the development, as this “would go a long way in helping the banks grow in the country”.
Elumelu emphasised that there was need for a closer collaboration between the public and private sectors and that would reduce deficit currently experienced in the country
He stated further that he was leaving behind a bank with a sound financial standing, noting that he was proud to have been a part of the success story of the bank.
He said, “this will be my last official engagement. My advice to those I am leaving behind is that they should know that banking is a marathon and not a dash.

Each one of us has our own time and if we understand that it is an unending marathon, then we can only do our best and leave the rest for the incoming generation”.
He continued: “Banking is not a short-term business. We will leave, but the industry will remain. If we have that mentality, then the industry will be better for it,” he said.

Elumelu pointed out that, “in about 10 days, I will be officially hand over to my successor, and I am advising my colleagues in the banking sector to see banking as a marathon where each leader would play their role and leave for the incoming generation.”

He however, said the new branch of the bank would help as an avenue to empower the people of the town through employment, noting that the development would also assist in driving economic activities in the entire town.
Earlier, the governor of the state, Dr. Bukola Saraki, who disclosed that it was his first personal presence in the opening of a bank’s branch in the state, had said the new branch would encourage the growth of small scale businesses.
The governor also called on other banks to take advantage of the agro-financing opportunities in Kwara North.
He lauded the management of the Central Bank of Nigeria for pushing the passage of the asset management law, issuing prudential guidelines and the recapitalisation of the Bank of Industry, which he observed had helped in tackling the effects.

Source: http://www.thisdayonline.com/nview.php?id=179070