Home News Stanbic IBTC gives update on its business continuity approach amid COVID-19 lockdowns
Stanbic IBTC gives update on its business continuity approach amid COVID-19 lockdowns

Stanbic IBTC gives update on its business continuity approach amid COVID-19 lockdowns

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The management and board of Stanbic IBTC Holdings Plc have updated its stakeholders about its business continuity approach amid the current COVID-19 lockdowns in Abuja, Lagos, and Ogun states. 

Technology to the rescue: A statement that was signed by the Company Secretary (Chidi Okezie) as seen on the Nigerian Stock Exchange’s website, noted that Stanbic IBTC has been relying on technology to drive its operations over the past three weeks. In line with this, the majority of the company’s workers have been working remotely.  

Safety precautions taken: Stanbic IBTC also disclosed that it has been taking full advantage of the exemption that was granted to banks to offer skeletal services during the lockdown periodAccording to the financial institution, team members whose roles are integral to the essential services offered by the bank, have been working both in their office locations and from home. Provisions have been made to ensure the well-being of the staff and clients at the bank’s branches during the lockdown period. 

 

As part of business continuity management procedures, teams providing essential services have been allocated to operate between their normal office locations and alternate work locations, adhering to the prescribed social distancing requirements. This is to ensure that the needs of our stakeholders – clients, shareholders, staff and others, are met regardless of the lockdown and restricted movement. 

“We have since implemented safety protocols across all our locations, which entail the use of hand sanitisers and infra-red thermometers for screening staff, clients, contractors and visitors; before they are granted access to our locations. Additional security measures have also been taken for the protection of staff members who are on essential duty this period; and for the protection of our assets,” part of the statement said. 

Assurance of business continuity: Also, the company said it had been assured by its third-party service providers of their readiness to continue providing needed services, albeit remotely. In view of all these, therefore, the company said it believes that none of the financial services it offers will be affected by the lockdown.

 

 The company also assured its stakeholders “of the long-term stability of the Group, notwithstanding the impact of the COVID19 pandemic across the country. 

 

In the meantime, Stanbic IBTC Holdings Plc said it will continue to monitor and review the situation in order to help their stakeholders with insights that will aid their business/investment decision-making during these peculiar times. 

“We will continue to review the trends and share insights on the impact of COVID-19 on micro and macro-economic indices via tailored webinars and Instagram Live sessions delivered by subject matter experts, to enable our clients and other stakeholders make good business and personal decisions that may help them during and after the COVID-19 pandemic situation.” 

 

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