AfricaBusiness & Finance

Unrealistic targets should be discouraged in Banking – Gbajabiamila

By Oluwaseun Sonde

The Speaker of the House of Representatives, Federal Republic of Nigeria Rep. Femi Gbajabiamila has said a situation where young Nigerians are employed by financial institutions as marketers and given unrealistic targets should be discouraged while marketing sector should be in line with international best practices.

Speaking when he received a delegation of the National Institute of Marketing of Nigeria (NIMN) led by the President and Chairman, Mr Tony Agenmonmen on Wednesday, the Speaker said the House would work with the institute to improve the Nigerian marketing profession. “One thing that concerns me is you have a lot of people out there that go around in the name of marketing.

I’m talking about the banking sector where young men and women are employed. You employ me in January, but by September, you’re saying I should meet a particular target not in millions but around one billion. Without saying it, we all know what happens. “We tried to stop that in the past, and I brought a bill on that some years back. But I was surprised the push back that I got from some banks, including women.

Some women MDs came for the public hearing and kicked against it. But I want to see how we can address that once again because we can’t sit back and allow such things to happen”, he added. He said there are international best practices, and we should be able to follow that. “If you can present a paper on that, we have a committee on banking, let me have a synopsis and see how we’ll go about it.

I believe that together we can arrest the situation. He also commended the institute for its efforts since 2003 when it was established by an Act of Parliament, saying there was a need for improvement. “The House would be represented at the institute’s annual conference for this year, which comes up in April in Benin, Edo State.

“This is even as the institute conferred an honorary membership on the Speaker because of his role in marketing good governance through good legislation in the country. Let me thank you for this unexpected honour that you conferred on me. I’ll always cherish this everywhere I go”, he said.

Earlier, Mr Agenmonmen, while seeking the support of the House to improve the institute, noted that there are loopholes in the existing Act establishing the institute and that there was a need for an amendment. Saying the institute was ready to collaborate with the House, the NIMN President added that some people practise marketing without the requisite qualifications and requirements, calling for the support of the House to put a stop to that.

“We believe it’s important to respect the law. We have started deregistering those that don’t follow the law. We need your support on this”, he said.

Show More

Leave a Reply

Your email address will not be published.

Back to top button