‘Excellence service delivery is most influential factor in business success’
Foluso Amusa is the Chief Executive Officer of The Morgans Consulting Limited, with over 25 years experience in the financial services industry. In this interview, he gave spoke on how the firm is helping organisations to strengthen their businesses amid global economic challenges.
Could you share with us your background in the financial services industry?
I have lived in the UK for some years before I decided to come back home and add value to the society – my country. Going into business was never something I had thought I would do. I grew up watching my father, who was very good at business, and a well-known business-oriented person, although I had no interest in the business.
However, after working with few organisations for over 25 years, my experience has helped me to see business in a different way, which has made me realise that I need to help businesses do things the right way. Some businesses offer services, but they miss out on little details which can make all the difference in their overall growth. So, I am motivated to help
businesses to achieve their goal, by providing them with affordable and quality service.
At what point did you decide to set up The Morgans Consulting and what’s your target?
Let me start with The Morgans Consortium Consulting UK, which is the parent company to The Morgans Consulting Limited Nigeria. TMC UK was born out of a keen desire to address gaps in meeting the ever-changing regulatory requirements across various jurisdictions. The changes in regulations most times are challenging to organisations due to nature and timelines as well as other stringent regulatory factors. Additionally, we are here to offer the highest standard of services as a top-tier consulting firm while being cost-effective to the client.
How have your previous work experiences helped you in running of TMC in Nigeria?
I have experiences working in various Financial Institutions (Royal Bank Of Scotland – RBS, ING, KPMG, Deloitte, Accenture, BNP PARIBAS, e.t.c. ) in the capacity of leading various GRC & FCC designing frameworks, developing and implementation of robust policies and procedures, advisory functions to senior management/decision-makers, as well as liaising with law enforcement agencies and regulators in Europe and the USA.
I successfully delivered large-scale projects across major sectors and managing a global team across APAC, EMEA, and Asia region over two decades helping the large corporate institutions to meets their regulatory obligations and improve or enhance processes. These experiences have helped me build a knowledge that I have brought with TMC.
Tell us about the unique services TMC renders?
All our ecosystem consulting services are unique, ranging from financial accounting, audit, assurance and tax advisory. We also engage in governance, risk and compliance advisory. We also pride ourselves in helping organisations with HR outsourcing and recruitment, digital printing and creative designs solutions, project management and transformation and lot’s more.
What would you say is the most influential factor in your business success?
Excellent service delivery has been the most influential factor in our business success. The excellent service our dedicated team renders to our clients ensures that the clients are happy with our services. Hence, they refer us to their other spheres of influence.
What are the major challenges organisations faces when it comes to hiring the best talent?
Firstly, hiring the best talent has to do with having the right resources to identify the right talents; that is best to the values, cultures and vision of your company. Most employers are too busy to look through the deluge of CVs they receive. Sifting through the CVs to get the right candidates can be daunting and that’s where we come in. We take the load of sorting out CVs and shortlisting candidates so they can get the best talent.
What is your take on the decision by the CBN to ban cryptocurrency in Nigeria?
The ban of cryptocurrency sends a wrong approach that gives a wrong signal. While the CBN governor has said he did this with the view to regulate the risk associated with cryptocurrency to prevent abuse, money laundering by hiding original of funds, fraud etc. It remains to be seen how it will be regulated; we will have to trust him in the meantime.
Tells us about your Oyster checks, are more Nigerians maximizing it?
Oyster checks is a due diligence service we offer that helps employers’ vet the credibility of their employees and suppliers before being employed or engaged in any capability. This is a standard practice globally, which is still relatively new in Nigeria. We have served a number of clients in Nigeria using our Oysterchecks service to verify the qualifications, check criminal records, get references, etc of their old and new staff, suppliers etc.
Once we carry out our diligence on behalf of the company, we put together our findings and send them to the company to make their hiring decisions. This is very crucial before engaging staff, suppliers especially when they are to be trusted with sensitive information, handle company property, and represent the company, it is important that the staff or supplier is who they say they are to avoid risks of fraud and other misappropriation as well as avoid reputation damages.
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