HOW BAYO LIGALI, CEO ZAIN NIGERIA WAS BOOTED OUT OF OFFICE
The Board of Directors of Zain Nigeria penultimate week showed its Chief Executive Office, Mr. Bayo Ligali the door after he was alleged to have committedmany atrocities that could not be condoled any longer by the management of the telecommunication company.
Mr. Bayo Ligali, who assumed the post of the C.E.O of the company about 3 years ago, was alleged to have been involved in many unwholesome practices that included misappropriation of funds, poor management among others.
Impeccable sources divulged that when Zain Nigeria was offered for sale due to inadequacy of Bayo Ligali led management team, he teamed up with top executives, who were his loyalist to ask for 15% of the shares of the company.
Those who should know added that this action did not go down well with Vivendi, who have moved in new equipments to standardize the operation of the telecommunications provider.
Our source alleged that Bayo Ligali has been running the telecommunication company as a family affair, as he used to pick anybody from nowhere to serve in the top echelon of the organization.
The source gave the examples as Tobi Biobaku, who was made Head of Media Relations in change of corporate communications. He used to be a supervisor in Zain outlet at Sanusi Fafunwa in Victoria Island, Lagos. Those who should know revealed that the latest of Bayo Ligali’s misdemeanour is the ongoing ‘don’t forget the lyrics’ show which he claimed to have spent many millions of naira on, but when the auditors visited the company, they discovered Bayo used fake documents to cover his misappropriation of funds.
For his shame to be covered, the management decided to retire him compulsorily and covered it up that he resigned to pursue personal businesses.
Sainte-Marie, who was the Managing Director of Zain Garbon has been appointed as Zain Nigeria Chief Executive Officer to oversee the company’s continuing market expansion and quest for industry leadership.
Our source confirmed that none of the top management staff could replace Bayo Ligali because most of them were his loyalists, who have taken after him in deeds.
So, to save the company from untimely death, Zain International quickly appointed Sainte-Marie, who has over 24 years working experience in Information Technology business.