Sterling Bank CEO advises business owners, employees on surviving COVID-19

Sterling Bank CEO, Abubakar Suleiman has advised employees to do more, rather than less as they work remotely.

This, according to him, is the way to go if one is to be spared the axe as companies try to cut down costs.

“Employers don’t want to shrink, if you can keep the business healthy, they will keep you,” he tweeted on Wednesday. His thread started with a peculiar title, ‘For thou shall work remotely & still be fulfilled.’

5.
If you are in employment, how can you do more remotely rather than less? Employers don’t want to shrink, if you can keep the business healthy, they will keep you. Think inside your isolation box, you may be surprised at what is possible.

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6/12

— Abubakar Suleiman – previously blue ticked (@suleimana) April 29, 2020

He added that spending should be limited to essentials, while cancelling foreign currency purchases and vacations that are not necessary.

3.
Same as 2 but harder. If you have FX commitments such as kids schooling abroad and you only earn Naira, time to think rationally about it. Unless you have serious savings, your earnings could come under pressure. Be realistic.

4/12

— Abubakar Suleiman – previously blue ticked (@suleimana) April 29, 2020

Time for companies to make the switch to essentials

In these times, when individuals deliberately cut down spending on luxuries, Suleiman suggested that this might be the time for such companies to consider moving into essentials.

“Rethink your business – if people are cutting luxuries, is that what you are selling? Move toward essentials, things people can’t live without. Beware of the risk of currency volatility, don’t be caught exposed. Sourced locally,” the tweet read.

He also advised business owners to engage more with customers to find out how they could be served remotely.

(READ MORE: How Sterling Bank has kept up the fight against COVID – 19)

Forget COVID-19 data and focus on staying healthy

Instead of getting worried over the increasing figures of COVID-19 cases, which is beyond one’s control, the Sterling boss stated that the focus should be on keeping fit and healthy. “Cut out excessive focus on CoVid19 infection data & get fit,” he tweeted.

Importantly, Suleiman advised, Nigerians to stay ambitious, while acquiring new skills, especially in technology application, in preparation for life post-COVID-19, because “like all plagues, this too is headed for the history books.”