Offshore banking needs to be entered with caution — Ajala

According to her “ Some of the things the Nigerian culture tolerates will not be so tolerated in England, France, Greece, and Holland or any other foreign land. The value system inNigeria is different from those of the foreign cultures.

While Nigerians take bank loans to build houses, the British will take bank loans to go on holidays say in Canada or France. Again while a Nigerian may amass wealth and marry several wives, a Briton may want simply to improve his wardrobe. While a banker in Nigeria may help a family member or a friend to get banking done quickly, the American customer, for example, does not want to be helped. He wants to take his turn and be properly attended to”.

To this extent, she noted that there is need for banks to have effective corporate communications that should be built on research, stressing that in public relations, programmes are started and ended with research/ evaluation.

According to her “ In offshore banking a lot of pathfinder research is recommended. A total knowledge of the market, the people and the government is the key to entering a new land. Such research as identified in challenges should not be ignored”.

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