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EIB Unveils Consolidation Strategy Stories By Olugbuyiro Akinola and Linda Elueme and Olugbuyiro Akinola The Board of Directors of EIB International bank plc has reassured its customers and shareholders of its commitment to the goal of meeting the N25 billion capital base while ensuring the business relevance of EIB well beyond the December 2005 deadline for recapitalisatin of banks. This was disclosed at the end of a crucial board meeting held in Lagos to review the Central Bank Of Nigeria's directive on capitalisation. Speaking at the meeting, the board Chairman, Mr. Abubakar Olasewere stressed that the bank is aduquately equipped to meet the challenges of the capitalisation regulation. He stated that the intrest of the stakeholders will be protected in the consolidated strategy being adopted by the bank. Olasewere further disclosed that the bank is currently in merger talks with banks of coordinate size which will lead to formal agreement very soon. He said the new proposal will be presented to the sharehoders in the Annual General Meeting to be held witjh in the next two months. EIB has pursued an expansion programme typified by a network of 30 branches in various parts of the country linked online real time bby a modern IT system-Bankmaster RS. While effort have been stepped up to open new branches in Kano, Kaduna and Port Harcourt, plans are also currently underway to install Automated teller Machines (ATM) at certain strategies branches to enhance customers delivery. Apart from being an accredited Traveler's cheques) sales outlet, EIB branches also collect revenue on behalf of Federal Inland Revenue Service (FIRS), Customer, NEPA, NITEL and Lagos State Government. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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