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‘Nigerian economy has not been conducive for startups’ says Risk Manager, Steve Agbata


A Risk Manager, Agbata Steve Ndubuisi, also a manager of a Zenith Bank branch in Abuja has reeled out the challenges every Nigerian entrepreneur tackles to excel.

Agbata, popularly known as Elder Steve Agbata also concisely articulated the risk that comes with the job, saying: “The most difficult part of my job as a risk manager is having to go for loan recovery from defaulters. This at times results in either verbal attacks or physical assaults.”

With almost 20 years work experience in the banking industry, Agbata, a fellow of the Chartered Institute of Loan and Risk Management of Nigeria, said it has really not been easy being a Certified Risk Manager as well as a Financial Consultant This is because everything in Nigeria is about risk.


According to him, “Nigerians have low appraisal of operational and financial risks. The financial risk is much better because it is a highly regulated industry.”

A native of Ogidi, Idemili North LGA of Anambra State, Agbata who turned 44 this year, is a well-read individual, having obtained a bachelor’s degree in Political Science from Nnamdi Azikiwe University, Awka and also Masters in Public Administration (MPA) in Financial Management from the University of Nigeria, Nsukka, where he is currently studying for his doctorate degree.

A creativity-oriented individual who believes that Nigerians have not come to terms with the realities posed by both operational and financial risks.

“As I said earlier, the challenges that come with my kind of job is that we are yet to come to terms with the risks facing us; both the industry players and customers alike. The challenges are enormous. My fears for entrepreneurs and small scale business owners is that the Nigerian economy has not been conducive for startup businesses.

“This is also worsened by the effect of the global pandemic and the Nigerian economy sliding into her worst recession in history.

“However, I strongly believe that if the country can exit from recession by Q1 of 2021, there is light at the end of the tunnel,” he stated.

Agbata has proven himself capable of attaining success in any of his pursuit as exemplified by his feats with the Elder Steve Agbata Foundation, the charity organisation he has singlehanded funded for nine years.

He is also eyeing the movie industry, however, Agbata avowed that he will never turn his back on his banking career.


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Steve AgbataZenith Bank
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