Review of the V financial institution model 3.0: Nigeria’s first clever digital banking app

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What first catches your consideration on this guide is its distinctive title. What has leaving the tarmac bought to do with the anticipated topic of the guide or with the persona of its creator? Your curiosity is stimulated nonetheless as a result of you recognize that there can be some kind of tie.

The straight-to-the-point mannerism of the recollection holds you from the very begin with the introduction by former President Olusegun Obasanjo. The influential statesman’s fast query concerning the accuracy of the guide and the affirmative response of the creator, which led to Obasanjo assertion that the creator should have stepped on some toes since each true story comes with the nice, the dangerous and the ugly, instantly excites your style buds as you anticipate what the “ugly” within the guide may be.

Very early within the guide, you start to hyperlink the title to the very core of the story. The creator narrates his turmoil in lacking his flight again to high school because of the endemic corruption and inefficiency that characterised the aviation business at the moment. He states boldly and you’ll all agree, that this cankerworm permeates the system resulting in all kind of dislocation and inefficiencies. The hyperlink is cleverly woven into the material of this guide and his forays in enterprise. At each conjecture, the expertise as a younger secondary faculty leaver on the Tarmac is thrown in and used as gasoline to make sure that as soon as once more, he wouldn’t be left on the tarmac.

The challenges that include working in a closely regulated setting managed by robust forces, on this clever, the Central Bank, the fixed battle to align or at greatest place a driving private and company imaginative and prescient to the continually shifting items that’s public coverage, particularly on the degree of fiscal and financial controls, leaves the reader in awe of the duo who took upon themselves, the herculean process of constructing an internationally respectable monetary model.

The prose is straightforward, candy and fascinating. Aig speaks circumspectly and strikes from subject to subject with the convenience of a ballerina. As he mentions the problems, you’re tempted to dig deeper however the mastery of his supply retains you flowing together with him as he shares his story.

My most partaking second was the assembly between Aig, Herbert and their bosses at GTB. I had been anticipating this assembly since I began studying the guide. The duo had gone very far within the acquisition course of, had raised a substantial amount of cash and have been coasting to the purpose of no return when this assembly held. I used to be anticipating extra particulars, extra gist however as is his model on this guide, the epoch-making assembly was glossed over.

I’d have wished a fly on the wall description of that assembly. Was Aig scared? Was Herbert jittery? Did Fola scream? Did he beg? Were there threats? Was it a shouting match? Did anybody kneel to say, ‘don’t vex?’ I craved that drama from the guide and didn’t get it.

Did this guide inform us the right way to purchase a financial institution in Africa or how a financial institution was even purchased in Africa? I’ll say, not too effectively. The acquisition of Access Bank was handled in a rush and even the position of BGL, the mercurial Investment Bank led by the late influential Albert Okumagba was additionally handled in a flash. I think that BGL individuals wouldn’t discover this half very thrilling because the story of the acquisition is stuff that’s handed down generations in BGL.


Aigboje’s mettle is on show instantly after the financial institution is acquired. His confidence grows as he talks concerning the worth chain technique. A method he attributes the preliminary success to. From MTN to Dangote, the technique enabled the nascent financial institution to seize an enormous market share from these conglomerates, stabilizing it and justifying the boldness reposed on each himself and Herbert by crucial stakeholder teams. Confidence that the person on the Banking Supervision of the CBN took nearly perpetually to construct.

This guide is a simplified workbook for these of us who wish to go into the very difficult act of revamping a dying or lifeless model. I attempted and failed woefully ending up in an EFCC cell. For Aigboje and Herbert to take a humdrum model and construct it into what it’s at this time is just not solely outstanding however nearly one thing of a miracle on this terrain. The meat of the guide is all about this.

Here Aigboje finds himself as he floats and flies in his descriptive flip. He takes us by way of all of it – visioning, readability, Board constructing, danger administration, capital administration, technique, human capital and rather more importantly, his partnership with Herbert who got here out on this guide as reliable, bringing large worth to the desk and making the succession plan nearly seamless.

You don’t sense any friction between the duo. You sense a transparent understanding and mutual respect. You don’t sense ambition on the a part of Herbert and also you see a cautious portrayal of the respect Aigboje has for Herbert on this guide. This to me is the success of Access Bank far and above each different factor you place in to construct the model.

One factor that saved leaping at me as I learn, was the outsider mentality that by no means left Aigboje as he narrated his expertise. The conferences on the CBN the place he averred that some individuals already had an inkling into a few of these earth shifting insurance policies, his worry of being left on the tarmac once more; however you come out of each summon to the CBN with reduction that when once more he was ready. The situation of the clearing financial institution is an instance. You should learn the guide very rigorously at this level to know the main points.

Just as you’re about to consign your self to the great thing about the narrative that’s the constructing of a financial institution, getting to begin your overview with a harsh critique of the guide not being about shopping for any African financial institution, you’re all of a sudden dropped on the toes of a second acquisition – that of the Intercontinental Bank.

Here Aigboje has discovered himself. His experiences throughout the first acquisition come to the fore. His pen will get stronger as he analyses the explanations behind the acquisition, the method itself, the advisers on the transaction and the post-acquisition challenges – human capital, know-how, integration, market notion, and regulatory points. Here, you discover a greater than prepared Aigboje.

But right here too, the story doesn’t do a lot for an entry-level Investment Banker searching for sensible expertise on M&A however goes forward to offer a world-class narrative on post-acquisition administration of a brilliant advanced construction.

He lastly closes the guide on his ideas and actions within the space of sustainability. Aigboje has been phenomenal on this space, working assiduously to assist, entrench and work with like minds each regionally and internationally in guaranteeing the easiest at school push in the direction of sustainability. This, I need to dare say, could have pushed his resolve to go away Access Bank on the time he did, which was a transparent two years from when he ought to have.

This guide in my estimation cautiously opened Aigboje to his readers. He was cautious to maintain the reader within the realm he desires them to be which is the subject of the guide. Buying a financial institution and never different extra thrilling areas like his private life, his regrets, his household life, and many others. Only as soon as was his spouse and kids talked about and this was as an illustration in attempting to drive house a degree throughout his tackle work-life steadiness.

The solely different time was within the first chapter in a dialogue together with his mom. Aigboje efficiently guards his privateness, remaining formal and nearly warning the reader to deal with the subject. You is not going to see Aigboje calm down on this guide, you’ll not see him eat at his favorite restaurant or know the type of music he likes to take heed to. In one other guide which he could write sometime, maybe, however actually not on this one.

In conclusion, regardless of my points with the title, this was a beautiful guide. It took me lower than 24 hours to complete its 217 pages however one other three days to put in writing this overview as a result of I used to be challenged as to what angle to deal with it from.

It was an exquisite learn, written with precision, readability and accuracy that offers it the authenticity it really deserves.

I give it a 5 star and can be recommending it not just for budding funding bankers and vision-driven leaders however to the overall inhabitants because it rigorously explains the ethos of what I need to name a followership pushed renaissance in our society within the face of the woeful reliance on tepid management. A strong learn.

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