Owena Bank Compensates Customers //Post Express

[Imeh Akpan]

Category: News
Date of Article: 12/19/97
Topic: Owena Bank Compensates Customers
Author:
Full Text of Article:
Eighteen customers of Owena Bank (Nigeria) Plc, who were delayed
for more than 10 minutes last week at the Ado-Ekiti branch of the
bank have had their accounts credited with N500 each. This
gesture is in fulfilment of the bank's Customer Service Guarantee
Scheme, tagged "Error-free Banking or We pay," introduced in May
1997.
Under the scheme, customers are entitled to cash compensation of
between N500 and N2000 if the bank is unable to meet their
expectation in providing timely and quality service. The 18
became the first set of customers to invoke the scheme.
Addressing the investors and customers of the bank in Ado-Ekiti
over the weekend, Mr. Segun Agbetuyi, managing director and chief
executive, said though the delay was caused by the inability of
the CBN Akure branch to provide enough cash to all banks in
Ado-Ekiti, Owena Bank decided to compensate its customers in
order to maintain its reputation and integrity as an ethical
organisation.
"Beyond playing lip service to customer service, we have gone
ahead to put a penalty on ourselves so as to tell the customers
of our seriousness in serving them," he said, adding that because
the bank operates with the fear of God, it has committed itself
to fulfilling promises made to customers.
Agbetuyi also disclosed that the bank has stepped up efforts to
participate more actively in the international market as the
world economy becomes increasingly globalised. He stated that the
bank is blessed with competent people who have the skills and who
speak the international language of business. According to him,
the bank is now aiming to become one of the five leading banks in
the country by the year 2000.
Also addressing the customers, Mr. Tunji Adeniyi, deputy general
manager, branch development and Administration, said the bank's
proposed capitalisation would enhance its ability to provide
excellent customer service through the acquisition of technology
and investments outside the country.
Adeniyi, also chairman of the recapitalisation committee of the
bank, stressed that the bank's share offer, which will break in
February 1998, offers the best opportunity for discerning
investors to invest in a bank which will provide first class
returns in less than 14 months.
Over one billion ordinary shares of the bank's equity will be in
the market through a public issue. The big share offer, which is
expected to rake in about two billion naira, is already being
awaited by investors who are impressed by the performance of the
bank in recent times.
The Secretary to the Ekiti State Government, Mr. Adeyeye
Ibidunmoye, who represented the State Administrator, Lt. Col. M.
Bawa, commended the bank for not disappointing its customers and
investors. The bank, he said, had turned out to be a good
investment, hence investors should not hesitate to participate
fully in its upcoming recapitalisation scheme.
The Ewi of Ado-Ekiti, Oba Adejugbe Aladesanmi, and the Chairman
of Ekiti State Council of Chiefs, Oba J. Adewole Adebayo, the
Ajero of Ijero-Ekiti, praised the management for successfully
restructuring the bank. They both appealed to their subjects to
invest in the bank.
The customers said they were satisfied with the service of the
bank, and promised to buy its shares when the offer breaks. One
of them, Mr. Kole Agbeyo, particularly praised the bank for its
quick service and advised it to ensure its achievements are
sustainable.

["Kúnlé Adégboyè."]

Up Owena! The boss of the branch should go a step further. If the
bank's staff were found to be responsible for the delay, they
should be made to pay the 500 naira each back to the bank. Good
way to promote efficiency.

Kúnlé Adégboyè.