MOHAMMED HAYATU-DEEN: Man with Midas touch
Mohammed Hayatu-deen,
Managing Director/CEO FSB International Bank, is a hard core
technocrat whose string of successes at the hitherto conservative
New Nigerian Development Company (NNDC) brought to the forefront
of
Nigeria
’s corporate power play.
A Shuwa Arab of Borno
extraction, he is an Economics graduate of the Ahmadu Bello
University (ABU)
Zaria
. Remarkably
imbued with the proverbial Midas touch, Hayatu-deen has used his
wealth of experience to transform the hitherto dormant Federal
Savings Bank into a thriving commercial bank plus an addition, the
FSB International bank!
At several times a
member of numerous financial regulatory bodies such as the
Technical Committee On Privatisation and Commercialisation (TCPC),
the urbane young man is one face which appears set to define the
future of
Nigeria
’s investment world.
In 1992, Hayatu-deen
assumed office with the Special task of transforming the moribund
Federal Savings Bank into a viable and profitable commercial bank.
He successfully did this and today, FSB International has
become one of the high flying banks in
Nigeria
, measured by any indicator.
The bank has been
positioned as an efficient provider of banking services locally
and it has done so by investing heavily in leading edge
technology. This has
enabled it to offer premium services to its high-brow clients.
Electronic banking that grants customers easy access to
their accounts from their offices is in operation at the FSB.
It also offers real time on-line services which enable
their customers transact their business from any of its branches.
Such services enable it to retain existing clients while
attracting new ones.
FSB under Hayatu-deen is
quoted on the Nigerian Stock Exchange and its performance is quite
commendable. The bank
was one of the first to meet the new N500 million equity set by
the Central Bank of
Nigeria
. Its
growth has been consistent in the last eight years.
The Bank, in league with
18 other banks, is promoting the Smart Card Consortium - Smart
card Nigeria Plc, aimed at providing a safer and less burdensome
alternative payment system. With
16 percent of the equity of the Consortium, the bank is the second
highest stakeholder in the Company.
Similarly, FSB is one of
the 11 banks that have invested N250 million in Pioneer Currency
Sorting Company Limited which, when it takes off, would operate
from eight centres to service the
Nigeria
banking industry.
FSB also has investment in First Security Discount House
Limited, the first and leading discount house in the country.
FSB was recently selected as lead manager of N700 million
Syndication loan for the Nigerian Security Printing and Minting
Company to enable it purchase new machine readable passport that
would soon be commissioned.
FSB is not just
interested in investing in computers, the bank has launched its
own website on the Internet and introduces electronic mail
technology both within and outside the bank in order to enhance
communication and transform it into a paperless institution.
Hayatu-Deen is one of the moving spirits behind the
Nigerian Economic Summit that has set the agenda for restructuring
the Nigerian economy and putting it on a firm foundation.
The Nigerian Economic Summit served as a precursor of
Vision 2010 where Hayatu-Deen also played a prominent role.
Newswatch Special Feature, Friday, 15 November 2002
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