News Analysis - Customers in Safe Hands

The task assigned to the Temporal Administrator of the Bank for the on-going six months is clear. Martin Luther Njanga is simply expected to manage the current affairs of the bank pending the putting in place of the social organs of the bank by the State. Two months to the completion of the assignment, hopes of the bank's creditors are highly rekindled.

In effect, the crisis that rocked the bank sent shock waves down the spines of many a creditor wherein government found itself in a position to act and act fast in order to protect their savings. From the look of things, customers' savings are all in save hands and the bank is fast bouncing back to activity. The assurances are even higher considering that the State is henceforth the highest shareholding with 80 per cent of the shares. This follows the injection of FCFA 12 billion into the bank.

As the social organs of the bank, notably the Board of Directors, Director General and his deputy are about to be set up, the most important to do is perhaps to ensure that the financial institution does not get into the same mess. There seems to be only one way out; identify where things went wrong and ensure that the traps therein completely avoided. That said, the good news in the whole restructuring process is the fact that customers' savings are void of threat.

The Temporal Administrator appears to have done everything possible to protect customers including off rooting doubtful creditors and clear all the accumulated losses registered. The assurances of the ministry of Finance are so high that clients no longer have anything to fear about.