‘How businesses can check NPLs, organisational incompetence’

The lack of executive competence, especially in the banking industry and among many businesses, account for the bulk of Non-Performing Loans (NPLs) in Nigeria. It has also raised the mortality rate of new and legacy firms, stakeholders have said.
   
According to the Lead Consultant, Executive Intervention Consult (EIC), Leke Olufade, most organisations are struggling to stay afloat because they lack the right personnel to run their affairs. He said that investing in managerial excellence was critical for achieving business sustainability amid the COVID-19 pandemic.

“WE have people in executive positions without executive competence. We have examples of such businesses rescued when they imported executive capacity from abroad while some said this is the downside of indigenization,” he said.

He said EIC was conceived as a result of this and packaged to play in the arena.

“We are therefore focused on providing executive management skills and competences to organizations and businesses that want to leverage on such to turn around business performance. Our objective is to be the ever-present help to businesses in times of trouble. We will lend helping hands in direct management or build executive capacity for business,” he added.

“We are well aware of the current economic challenges in Nigeria, which has been further exacerbated by the global Covid-19 pandemic and its unfolding negative impact on businesses. We believe therefore that there is no better time than now to boldly step forward and support businesses to revive, and reverse their losses with a view to delivering operational efficiency, profitability, and sustainability,” he said.