Exit Of Pioneer Managing Director: NOVA Bank Fights Temporary Set-back

NOVA Bank which recently transitioned to commercial banking from the merchant banking with successful strides may be in a temporary set-back .

But like a seasoned football team whose captain is given a red card for foul play in the final of a prestigious tournament, the captain’s band is quickly transferred to another player whom other players look up to . The team will literally fight like a deer whose cub was taken from her in the field, to ensure that the team does not loose, if it can not win the rival team.

Already, the board and management are doing a little computation and permutations to pick another head within or headhunt another Managing Director.
Feelers from the bank indicate that the Nova management is already grappling with the turbulence like seasoned pilot to ensure that the bank which has taken off in the commercial banking space will not crash land but get to its destination. Unless the erstwhile pioneer Managing Director, Mr. Wale Adedeji was a -single – tree – that made- a – forest, the board should consider others in his team to replace Adedeji or leverage on its network to headhunt another maverick Kid on the bloc to wear the captain’s band.

The analysts assertion that this is one of the challenging periods is to say the least, stridently on point but how this brand responds to this turbulence will make or mar its dreams, vision and goals.

This mostly unpredictable change in NOVA’s business leadership may affect it in a negative way. It may lead to many customers dumping the brand, To avoid this rejection, Nova must be flexible to react to these changes. It calls for business competencies within unstable the banking business .

But how NOVA copes with the pressure of this change and the speed at which it to responds to this incident, act will count.
Whoever replaces Adedeji must be a commercial banker and someone with the nerve and hunger to achieve and make a mark in the industry. He must fully embrace and implement the strategies which Adedeji enunciated and add his own ideas if the bank will stabilize in the commercial banking.
The fierce competition in Nigerian commercial banking terrain will definitely affect the ability of NOVA to immediately register its brand as a leading deposit money bank. How can it stand up to big players like Zenith, GT bank, Access and Firstbank remain a challenge.
Nevertheless, the bank has some string of vestiges and pedigree going for it. With its record as the “Best Bank in Nigeria” by the African Banker awards; ” Most Innovative Bank ” by the Global Banking and Finance Awards; “Best Customer Service” by Nigerian Customer Service Awards; the bank has no alternative than to re-enact all that made it win these awards.
NOVA should effectively deploy its Digital Banking Online and mobile banking platforms, especially it Innovative banking application tagged Phigital banking. It can still attain its vision of becoming the leading financial institution in Nigeria. Known for its excellence, integrity, commitment to customer satisfaction.