RCBank Honours Outgoing Board Chairman

Rokel Commercial Bank (RCBank) hosted a grand and memorable farewell ceremony on Wednesday, February 12, 2025, to honor its outgoing Board Chairman, Mr. Buffy Bailor, who served from 2018 to 2024.

The event brought together key stakeholders from Sierra Leone’s financial sector, including the Governor of the Bank of Sierra Leone, representatives from the Ministry of Finance, and senior management staff of RCBank, to celebrate Mr. Bailor’s remarkable contributions to the bank’s growth and impressive transformation.

Welcoming guests, Head of Public Relations, Aruna Dumbuya, stated that the farewell was organized to recognize Mr. Bailor’s tremendous work and unwavering commitment during his six-year tenure.

Joining virtually from abroad. Board Member Marcella Jones highlighted the significant professional transformation and unique cooperation fostered under Mr. Bailor’s leadership. She described his legacy as indelible, emphasizing his role in steering the bank through key transitions and innovations.

Representing minority shareholders, Mrs. Margaret Bernard Jones acknowledged the inevitability of the transition due to bank policy. Drawing a symbolic reference, she compared Mr. Bailor’s six years of service to the six days of creation, adding that it was time for him to rest after his dedicated efforts on behalf of shareholders.

Bank Governor Dr. Ibrahim Stevens commended Mr. Bailor’s contributions to both RCBank and the broader financial sector, wishing him success in future endeavors.

Deputy Managing Director Emmanuel Borbor reiterated similar sentiments, crediting Mr. Bailor’s leadership for the bank’s increased profitability and well-structured board. He noted that Mr. Bailor’s successor would inherit a strong foundation built on professionalism and strategic foresight.

Managing Director Dr. Walton Ekundayo Gilpin delivered an emotional tribute, describing Mr. Bailor as an outstanding and remarkable leader whose charisma, intellect, and forward-thinking mindset left an indelible mark on the bank. He lauded Mr. Bailor’s ability to lead not just through words but through decisive actions that propelled RCBank to new heights.

Dr. Gilpin highlighted the numerous challenges they faced together, particularly during the bank’s digital transformation journey. “There were formidable challenges, but Mr. Bailor never relented. His favorite phrase, ‘Let go and let God,’ became a mantra that kept us going even in the most trying times,” he recalled.

He further stressed that Mr. Bailor’s unwavering belief in progress and excellence, stating, “No matter how difficult things got, Mr. Bailor believed that as long as we kept moving forward, success was inevitable. His leadership ensured that we didn’t just aim to be among the top three banks, but to be among the top two, always striving for the best.”

Dr. Gilpin acknowledged Mr. Bailor’s crucial role in embracing digital banking, navigating regulatory policies from the Central Bank, and ensuring that RCBank remained resilient amidst financial uncertainties. He praised Mr. Bailor’s insistence on respect, diligence, and service delivery as the core values that drove the bank’s achievements.

Reflecting on the implementation of major projects like the change of currency and digital banking platforms, Dr. Gilpin said: “Mr. Bailor always supported forward-looking initiatives. His touch of gold ensured that every project we undertook was executed with precision and excellence. Today, RCBank stands tall because we had a chairman who believed in what he was doing and never got discouraged.”

In his farewell speech, Mr. Buffy Bailor was visibly moved, admitting that he was short of words at such a solemn moment. Reflecting on his journey, he revealed that he initially hesitated to accept the chairmanship, as he was focused on other pursuits. However, after consultations with key stakeholders and his wife, he accepted the challenge, determined to turn around the fortunes of RCBank, which was in a precarious state at the time.

“When I took over, RCBank was struggling. My first task was to identify the core issues and find ways to move forward together. It wasn’t easy, but with a dedicated team, we managed to transform the bank,” Mr. Bailor recalled.

He expressed deep attachment to the bank, describing it as a family he was leaving behind. As a chartered accountant, he recounted how he leveraged his network to bring numerous customers and businesses to RCBank. Highlighting key achievements, he disclosed, “During the Afreximbank regional meeting, we successfully negotiated a $10 million regional loan and a $25 million trade finance facility, which will be available to the bank after completing necessary processes. I urged the management to ensure these facilities are fully realized.”

Mr. Bailor emphasized that RCBank has the potential to become Sierra Leone’s biggest bank, given its current resources and human capital. “My prayer is that whoever takes over will build on this foundation and make the bank twice or even three times better,” he pleaded, encouraging staff to believe in their abilities and continue their hard work.

He also urged the government to consider appointing board members with fewer external engagements to ensure active participation in the bank’s governance.

Presenting a comprehensive handover note to President Julius Maada Bio, Mr. Bailor detailed the bank’s successes and challenges, offering valuable insights for his successor.

“A good captain must navigate rough seas to prove their worth. I believe we have navigated those rough seas well, and I am proud of what we have achieved together,” he concluded, expressing gratitude to the President, Parliament, the Managing Director, Deputy Managing Director, board members, staff, and all stakeholders who supported him during his tenure.

The event was climaxed with the presentation of gifts from senior and junior management staff to Mr. Bailor. Mrs. Bailor, speaking on behalf of her husband, thanked everyone for their support, expressing hope that their bond with RCBank would remain strong.

Mr. Bailor’s departure marks the end of a transformative era for RCBank, leaving behind a legacy of resilience, innovation, and growth.