In July 2020, when he took office, the Chairman of the Board of Directors of ecobank Group had targeted the Nigerian subsidiary as one of his priorities. In a statement issued on the Nigerian stock exchange, the group announced that its local subsidiary had obtained a bilateral subordinated loan of N50 billion (CFAF 71 billion) over 10 years. "The bilateral funding provides stable medium-term liquidity to Ecobank Nigeria's balance sheet and has positively improved its balance sheet ratios, particularly the capital adequacy ratio by approximately 300 basis points. The proceeds of the transaction will be deployed to support micro, small and medium-sized enterprises (MSMEs) and small businesses," said the statement from Lomé-based Ecobank Transnational Incorporated.
The priority is, according to the group's CEO, first of all to bring Nigeria to the level it is capable of within the Group. "One of the most important challenges that Ade and I will focus on is resolving difficulties dating back several years at Ecobank Nigeria, related to legacy portfolio issues and unfavorable commodity cycles. " he said Cameroonian Alain Nkontchou at a press conference.