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CBN warns Banks to Stop pressuring Staff with Unrealistic Targets | Will Banks Listen?

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i_love_nigerian_bankersEach time we feature Nigerian banks on BN, the comments section is flooded with complaints from staff and ex-staff lamenting about the unrealistic targets they are given. The pressure is mainly on the staff on the banks’ marketing teams, however, several Nigerian banks mandate that even non-marketing staff are given deposit targets.

At the 2014 Bank Directors Association of Nigeria Stakeholders’ Forum this week in Lagos, Onyebuchi Ibedu of the Central Bank of Nigeria’s Banking Supervision Department who was representing CBN Governor Godwin Emefiele had this to say;

Vanguard Newspaper reports that Onyebuchi emphasized that (the practice) goes against the grains of acceptable ethical conduct and corporate governance.

He told the gathering that the practice could induce negative moral implications.

According to him, forcing bank marketers, especially females to meet unrealistic deposit targets could influence their decision to engage in illegal and immoral acts.

On what the CBN is doing to stop this practice, he said: “The CBN is using moral suasion. We have been talking to banks about it. It is a continuous effort that we are making and we see the trend coming down. We cannot sanction the banks because it a completely business decision. But then we are telling banks that it is a wrong business decision. We have been speaking to them to change the strategy because it is affecting the banking culture and the landscape of the industry”

Photo Credit: Cafe Press

13 Comments

  1. Jane

    November 20, 2014 at 1:02 pm

    Good warning…coming too late

    wwww.nigerwifediary.blogspot.com

  2. tama

    November 20, 2014 at 1:08 pm

    Godwin should apply that to the bank he left ZIB, I think they are the worse when it comes to unrealistic targets .

    • amaa

      November 21, 2014 at 10:53 am

      YES Zenith Bank is so Notorious it is unbelievable

  3. vivian

    November 20, 2014 at 1:26 pm

    The CBN governor was involved in setting unrealistic targets for zenith staff while he was there making life almost unbearable for them so its surprising he’s singing another tune from CBN. The pressure should stop and they (CBN) should mean it this time to stop it!

  4. spoonfullofsugar

    November 20, 2014 at 1:51 pm

    As long as the unemployment rate remains as high as it is, unrealistic targets are going nowhere.

  5. Adebola

    November 20, 2014 at 2:31 pm

    Hmmmmm!…too late it has become part of the rules and regulations of all banks. walahi no bank is safe even the CBN OGA @ D TOP know this.

  6. @edDREAMZ

    November 20, 2014 at 2:50 pm

    a.k.a EDWIN CHINEDU AZUBUKO said…
    .
    I hate this bank work i swear…. God bless the CBN for this though…..
    .
    .
    ***CURRENTLY IN JUPITER***

  7. adelegirl

    November 20, 2014 at 3:29 pm

    *Yinmu* AS if it’s not CBN piling on the pressure on these banks with several unfavourable monetary policies. And of course they in turn pile on the pressure on their staff with unrealistic demonic targets.

  8. LFC fan!

    November 20, 2014 at 3:50 pm

    They won’t listen! Plz visit my sport blog
    ckjacob.blogspot.com

  9. fabusima

    November 20, 2014 at 8:07 pm

    We live in a world were money is put before morals…so I doubt the banks will change….if you survive in a Nigerian bank you will survive working anywhere in the world

  10. YAYI BONI

    November 21, 2014 at 12:38 am

    they are trying to copy these stupid banks in the U.S such as Bank of America, Wells Fargo where they forced sometimes poor customers to open account or certain line of credits…. which is sooooo annoying to both the clients and the tellers… na by forcooooooo!!!

  11. Diuto

    November 22, 2014 at 10:27 am

    CBN is putting pressure on banks to make profit else n d banks transfer d pressure to their marketers. Its so annoying. Ever remember who instructed d 25bn capital base? Twas a cbn gov dey aint tellin us d truth. Warning letters n retrenchment due to non performance. New hires gettin d same treatmen. Money jus circulates frm bank 2 bank. A marketer can smile today n frown tomorrow. Other industries r much better. Banking in Nig is torture!

  12. Diuto

    November 22, 2014 at 10:32 am

    Pressure on marketers terrible in Nig. Such a horrible industry. CBN puts pressure on banks to make profit n it cascades down to marketers. Warning letters n retrenchment due to non performance. Worst industry to work in esp if its a bank with zero brand

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