Saturday, October 30, 2010

LEADERSHIP TUSSLE IN FIRST BANK
-3 DIRECTORS RESIGN IN ONE WEEK
Three executive directors in First Bank of Nigeria Plc have reportedly resigned due to what is referred to as leadership tussle.
An insider in the bank alleged that the three top executives of the leading bank had lobbied for the post of the Deputy Group Managing Director of the Bank, which became vacant after the resignation of the erstwhile occupier of the post, which took effect from October 1. The three senior executives were said to have beaten their chests that they would succeed at all cost.
An impeccable source alleged that in the hierarchy of management of the bank, taking into cognizance years of service and qualifications, one of the three executives was qualified to assume the post, but he was sidelined by the GMD/CEO of the bank, Bisi Onasanya, who picked someone from Risk Management Department as DGMD.
The three directors, who resigned their appointment over the issue are the Chief Financial Officer, Oladele Oyelola, Executive Director, South-West, Bola Adesola and Banking Operation and Services Executive Director, Abdu Abubakar Those who should know revealed that as soon as an internal memo was circulated among the directors notifying them of the appointment of the new DGMD, the three directors threw in the towel because each of them had anticipated that he would be given the appointment.
When officials of the Brand & Communication Department of the bank was contacted to react to the matter, they gave no reason for the action of the top executives, but they said that interim replacements had been named, while qualified persons are being sought for the jobs.
A source in the bank, who preferred anonymity, quoted Onasanya as saying, "We are very proud of the achievements of these individuals and their significant contributions towards the strengthening and sustaining of First Bank's leadership position."
First Bank, one of the top five banks based on total assets in Nigeria, has operations in Britain, France and South Africa and expects to sign an agreement with Bank of China soon.
ACCESS BANK INTRODUCES “TAKE THE LEAD” PROMO
This is a prize or lottery-linked savings programme where with a minimum balance of N50,000 in Access advantage account for a minimum period of 60 days, customers can qualify to win five brand new cars every month.
These products offer savers protection against principal loss and liquidity, but instead of paying interest proportional to savings balances, they essentially "raffle off" the interest pot each period. Savers give up a large chance of a small return for a small chance of a large, life-changing return. These so-called prize-linked products have been extraordinarily effective in generating savings over many centuries. How to Win: Open an access advantage account, Increase your balance by N50,000 and maintain for 60days to qualify, Multiples of N50,000 qualifies you for multiple entries, All new and existing customers are welcome. The Promo runs from June 1 – December 31, 2010.
On Online Vehicle Leasing, Access bank introduces the first ever online vehicle lease in Nigeria. In just 72 hours you could own your dream car if you follow three easy steps; decide on a car of your choice, obtain an invoice from the dealer and apply online. Successful applicants are expected to receive an approval mail and offer letter within two hours of application. It should, also, be noted that a lease is not an outright purchase. It is an arrangement where a leasee (customer) pays a leasor (Access Bank) an installment (lease rental) for the use of an asset (a vehicle). The asset title still belongs to the bank and in the event of non payment by the customers; the vehicle legally reverts to the bank. The bank, as owner, is legally required to register the vehicle and insure same except in the case of finance lease
ORANGE DRUGS BOSS, TONY EZENNA IN SECRET ROMANCE WITH ACTRESS, NADIABUARI
Information filtering in indicate that the contractual arrangement between popular Ghanaian actress Nadia Buari and Orange drugs limited owned by man of means Tony Ezenna is more than meet the eye.
Investigation revealed that the business arrangement that has transformed the rave actress into the official face of Devon, the latest product on the label of Orange drugs limited is a ruse for a bristling romance between Mr Ezenna and Nadia.
Informants revealed that the business arrangement is one of the gains of the romance for the actress.
Those who should know revealed both Nadia and Ezenna had been engulfed in a secret affair before the issue of contract came into play.
Ezenna was said to have initiated the move for a discreet romance based on his love for the acting skill of the make believe expert.
The move was reportedly executed on behalf of the money man by one of his most trusted aides.
The aide acts as fronts for his principal in issues that affects the image of the company and the owner.
The go between in the romance is also said to be in charge of doling out largesse to Nadia on discreet instruction from the money man.
Jewellery and cash gifts are listed as part of gifts given to the actress by the money via the third party.
Further investigations revealed that the move to make Nadia a part of the company was made original made to put more cover on the romance.
The idea is that based on that pretext both Ezenna and Nadia will have reasons to be spotted without raising eye brows an insider divulged.
And according to those who should know this arrangement appeared to be working for them.
OCEANIC BANK MANAGER IMPREGNATES WIFE’S ELDER SISTER
*How The Woman Lured Her Sister’s Wife Into Sex
One of the branch managers of a new generation bank is in hot soup and his house is in disarray as you read this. The reason is that he could not control his third legs which eventually has landed him in trouble
Information flittering around is to the effect that Obinna Ezinne, the said manager at Oceanic Bank is in hot romance with a middle age woman, who happens to be an elder sister to his wife.
Those who should know revealed that Obinna is the Branch Manager of the International Trade Fair Complex branch of the bank along Badagry expressway in Lagos.
Impeccable sources alleged that the secret romance between the duo started few months ago, and Obinna is said to be the financier of his in-laws. It was reliably gathered that the lifestyle of the manager and his generousity to his in-laws attracted his sister-in-law to him, and she was said to have lured him into the romance.
A source that proffered anonymity alleged that the woman started engaging in illicit sex with Obinna after they became chosen when the man’s wife was away for treatment when she fell ill after she became pregnant.
Obinna’s wife was said to have pleaded with her elder sister to go to her house and cook for her husband in her absence, and this reportedly gave room to the intimacy, which later led to serious romance, and the woman is now pregnant for her brother-in-law.
The source alleged that the bank manager once accompanied the woman to the naming ceremony of one of her friends around Fadeyi in Lagos.
According to sources, the duo openly showed affection to each other via text messages and they later stood up and drove away in the man’s Honda Element Jeep to an unknown place, where they went to have a nice time.
Those who should know alleged that when the wife was on admission in the hospital to deliver her only child few months back, the elder sister was also in the hospital for treatment on what she taught was a mere malaria until it was finally revealed to her that she was pregnant.
The young woman was also alleged to have benefited immensely form the hot romance as she now owns a boutique in Trade Fair complex and cruises around in an exotic car.
The secret was almost blown open at the christening of the manager’s baby when the mother of the wife asked the woman, who was responsible for her pregnancy when they all knew that she did not have a husband as she had her only child outside wedlock some years back.
It was alleged that some of the woman’s neighbours revealed the whole sexcapades that happened while she was away and she was advised to be interested in knowing the person who put her sister in the family way.
Sources revealed that her findings revealed that her hubby was the owner of the pregnancy, but that the man did not give any reply, when he was confronted with the allegation.
Those close to the family revealed that the woman has relocated to an unknown place due to threat to her life by her younger sister. The manager, our source said, has not been himself since the secret was exposed.
REAL REASON COCACOLA PULLED OUT OF YOMI BADEJO’S CMC CONNECT
It’s no longer news that Cocacola Nigeria has pulled out of Yomi Badejo-led CMC Connect, what is not known is the reason the multinational brand withdrew its public relations account from the outfit.
Against the rumour in town that CMC Connect was not doing the public relations job well by misrepresenting its client and that their was fraud notifications in the outfit by Cocacola, the real reason, according to findings, is that the outfit refused to handle the Nigeria @50 promotions of Cocacola because it was an obsolete idea that cannot take any brand anywhere.
The spokesperson of CMC, Sola Solotan, revealed that CMC Connect had been handling the public relations account of Cocacola for over 3 years with cutting edge services.
“The public relations management of Cocacola is not a job for a new entrant; the brand is a multinational that needs experience. We have serviced them very well and the reason they pulled out is what should have been settled amicably. We are A-class PR outfit that has created a niche for itself in this industry. The truth is that we lead and others follow. We have left that behind us and now we are concentrating on rendering quality services to those in our collections,” he revealed.
CMC Connect is one of the winners at the just concluded 2010 NIPR Awards
NMULTI MILLION SHARE SCANDAL ROCKS FIRST BANK
One of Nigeria’s leading financial institutions, First Bank Plc is alleged manipulated some of the shares sold to members of the public recently.
One of the aggrieved customers is Mrs Rhoda Abitogun, a former principal of St. Catherine Girls Grammar school, Ondo State. She said that she bought share units of 15,046 and that only 10,046 were credited to her, and that the deducted 5,000 unit amounted to N146, 982. Rhoda was said to have written to First Bank severally, but she was ignored and she has taken the case to Consumer Protection Council, the body that regulates matters involving stock and shares in the country.
Another victim is Mr. Femi Ajayi, a businessman in oil and gas industry. When the bank shares were made public, he was said to have bought shares units worth N3.5million and the bank only credited him with 60,184 shares instead of 105,322. The value of the deducted shares amounted to N1, 485,000. He was said to have filed a suit accusing the bank of manipulations.
At the Igbosere Magistrate’s Court, Lagos, where the case of Mr. Femi Ajayi was heard, First Bank was conspicuously absent, but other shareholders whose shares units had been allegedly manipulated unjustly by the bank were present, chanting abusive songs against the bank.
PASTOR ADEBOYE’S HAGGAI MFB IN N7BILLION FRAUD
The Pastor Enoch Adeboye-led Redeemed Christian Church of God-owned microfinance bank, Haggai MFB is allegedly involved in a fraud to the tune of N7billion. The debt was said to have been incurred over some construction works, which include the residential buildings in the church’s massive site situated along the Lagos-Ibadan expressway tagged; Redemption camp.
The fraud, sources maintained involved the Managing Director of Haggai MFB, Richard Olubameru, who also serves as a pastor in the church. Reliable sources revealed that the donations towards the construction of buildings and money realized from the sales of lands to members were divided into two and a part was carted away by the managing director.
Those who should know divulged that Richard was involved in the missing money that generated issue in the first quarter of the year 2010 in the bank, but this was later resolved by Pastor Adeboye. The money was said to be a donation from one Mr. Bayagbon Isreal for the construction of offices for pastors. The money is said to be about N120 million. It was revealed that the bank’s MD lied to the internal auditor of the bank, headed by Mr. Nicholas Ajakanu, that the donor had not fulfilled his pledge, whereas he had pocketed the money.
Impeccable sources that Nicholas, who is the head of audit department, was sacked by the MD last month when he reported the case to the Central Bank of Nigeria and Pastor Adeboye. The MD argued that the case should have been reported to Pastor Adeboye and not the apex bank.
Few weeks back, auditors from the CBN visited the bank and revealed that the bank had been defrauded to the tune of N7billion, and the bank was among the MFBs, which licenses were revoked.
Insiders who preferred anonymity, revealed that Pastor Adeboye has ordered the closure of the bank and summoned all the management staffers to an emergency meeting, but the managing director was conspicuously missing at the meeting. Olubameru’s whereabouts cannot be ascertained as at press time and he was said to have vacated his official residence to an unknown destination.
UBA LARGESSE TEARS PEACE FIBRESIMA AND CHARLES O’TUDOR APART
The cordial relationship that once exist between the organizer of the annual AMMA awards, Peace Fibresima and the Principal consultant of Adstrat, Charles O’tudor according to impeccable source, has gone sour with the largesse of the major sponsor of this year event, United Bank of Africa.
Those who should know divulged that the public relations outfit that handles the publicity of AMMA Awards, Adstrat had an agreement with Peace Firbresima to pay a specific amount before the commencement of the project as its bill as the publicist of the event. It was gathered that though Peace Fibresima agreed to pay the amount, she allegedly paid and had N3million to balance the agreed fees with the promise to balance as soon as UBA drops the last part of the sponsorship fees.
Impeccable source revealed that as soon as UBA dropped the last part of the sponsorship fees, Peace Fibresima allegedly refused to pay the balance to Adstrat for the job well-done on the publicity of the project which eventually caused issues within the public relations outfit and clients that were used on the project who are on the agency neck to pay them. Those privy to the fact alleged that Peace Fibresima refused to pay the N3million balance with the excuse that Adstat executed most of the media publicity on relationship basis with most media houses without paying a dime.
A source who preferred anonymity revealed that several phone calls from Adstat to remind its client, Fibresima of the outstanding debt of N3million were ignored. The source alleged that Fibresima initially denied the payment from of the balance from UBA, but the Principal Consultant of Adstat,. Charles O’tudor who has strong network in the advertising industry, maintained that UBA has paid, its only that his client is holding on to its part of the balance.
This development, according to reliable sources, has spoilt the once rosy relationship that existed between the two and that Charles O’tudor has waved the debt behind him as he is busy jostling for the public relations works of some multinational brands to manage, which worth billions of naira
MISMANAGEMENT TALES TRAIL SILVERBIRD GALLERIA
The Mr. Ben Bruce-led Silverbird Galleria is being trailed by tales of mismanagement since Jonathan, a son of Ben took over the operation of the company.
An impeccable source disclosed that Jonathan, who is allegedly refer to as club rat, always resume to the office late and has no time to monitor the activities in the galleria and this has created opportunities for others to loot the investment of his father.
Those who should know revealed that most of the movies currently being shown in the galleria now are those that had been planned when his father was still in-charge of every operation. It was also alleged that staffers of the galleria are now being owed three months salary, which never happened when Ben was in charge.
A source who claimed anonymity said interior gadgets are now in sorry state as they are not been maintained. He sited example of the air-conditioning system in most halls that are now leaking, the damaged railings that have not been repaired among other things that wouldn’t have been neglected by Ben.
Jonahtan, who is said to be in his early twenties, was accused of spending heavily on clubs and has totally neglected the maintenance of the galleria.
ETISALAT MANAGER IN N2MILLION DEBT MESS
Etisalat, one of the latest entrants into the telecommunication industry in Nigeria, is in the news again. Latest information about the organization has it that its Head, Regional Sales, Lagos and South-West got involved in a debt mess during the company’s ongoing product activation and SIM registration in the south west zone.
Those who should know alleged that the manager, Olujimi Tella, secretly operates an activation agency which is registered with his wife’s name to collect activation jobs from Etisalat.
It was also gathered that during one of the company’s activations in Ibadan, Oyo State that involved a road show and direct sales, promoters who were employed by the coy’s operation officer, who is inexperience in experiential marketing, went away with products like SIM cards, branded souvenirs and two branded bus, making him to lose over a million naira.
According to a reliable source, Etisalat’s activation during the 2010 Osun-Oshogbo festival was a flop as promoters were not at the right locations that would have made them become visible to tourists. This, among other factors, affected the success of the activation at the event.
The development was alleged to have prompted Olujimi to order the manager of his privately-owned agency not to pay the promoters who worked during the festival.
One of the promoters, who worked as a supervisor on the activations, and who preferred anonymity, alleged that the money being owed promoters for hotels and transportation is close to N2million.
It was also gathered that Olujimi and the promoters lodged in the same hotel and their cars were impounded by the hotel management for inability to pay for services rendered. Our source added that the representative of the agency is at large and that no one is picking their calls to know when the money would be paid.
Efforts made to speak with Oljimi Tella proved abortive as he wasn’t picking his calls.
CRISIS IN INTERCONTINENTAL BANK OVER MISSING N47BILLION
After the change of baton from the embattled Mr. Eratus Akingbola to Lai Alabi as the Group Managing Director of Intercontinental Bank, many controversies have rocked the financial institution. The most recent of the crisis is the alleged missing money from the bank’s treasury, which amounted to N47billion.
An insider in the bank, who prefers anonymity, revealed that though Akingbola was accused of using N120billion of depositors’ money to buy personal shares in Intercontinental Bank, N47billion was added to it by the new GMD, Lai Alabi who now allegedly goes around saying Eratus spent N167billion lavishly.
Impeccable sources divulged that the extra N47billion has torn top management staffers apart. Some of the top management staffers, who are loyal to Akingbola were said to have being sponsored by him to unearth the real document that revealed that it was N120billion that was used in purchasing the shares. It was also gathered that loyalists of the Alabi, who are allegedly placed at sensitive departments of the financial house, have vowed to cover all the transactions that may implicate the mentor.
The missing fund, according to those who should know, has led to serious crisis, which may soon show some of Akingbola’s loyalist the way out of the bank.
Akingbola was alleged to have acquired 27 percent of the bank’s shares using depositors’ funds and inter-bank takings with his company, Tropics Finance that is jointly owned by him and his wife last year.
REVEALED
THE MEGA DEAL THAT TORE DANGOTE, OKEREKE APART
Newest developing story on the removal of the former Director-General (DG) of the Nigerian Stock Exchange (NSE), Dr. Ndidi Okereke-Onyuike has it that what later became a tempest in the affairs of the fifty-years old Exchange had only begun like a subtle tide caused by the personal ambitions of the affected principals.
It was gathered that the relationship between the former DG and billionaire industrialist, Alhaji Aliko Dangote turned sour when Okereke stoutly rebuffed his effort to corner the largest shares during the ‘de-mutualization’ of the NSE. De-mutualization is a process by which the shares of the Exchange are sold to the public by way of offers.
Privileged sources revealed that the President of the Dangote Group, Aliko had attempted to have a predominant 61% of the shares, while the remaining 39% would be available for subscriptions to other persons. The issue was said to have caused a bad blood between the two influential personalities, hence resulting in a struggle for supremacy and intrigues on the board of the NSE. Also, Okereke was reported to have demonstrated her disdain for Dangote’s indirect plot to unseat her, claiming that she was the one who invited him to the NSE based on the cordial relationship and mutual business interests in Transcorp. In addition, stocks market watchers claimed that the disagreement between the duo on how the de-mutualization should be done was responsible for its suspension till date.
Sensing the intrigues against her and the deteriorating loyalty of her otherwise co-travellers for her leadership of the NSE, Okereke decided to fire her deputy, Mr. Lance Elkama. It was not long after she took the action that words flew out that she did so against growing perception that Elkama had sold out and was been prodded and positioned by Dangote to replace her. Firing Elkama was not an easy task for the embattled Okereke, especially as Dangote and predominant members of the board wanted him to stay on. Having eased Elkama out of the management of the NSE, the former DG was reported to have set things in motion with the aim of installing her protégé, Mr. Kene Okafor, the General Manager in charge of Info Tech, quotation and listing.
While Dangote was perhaps contemplating his moves, Okereke, latching on the death of former President Umaru Yar’Adua at the time swiftly led aggrieved members of the Independent Shareholders Association to file a suit in court over the purported inglorious role of Dangote in the manipulation of African Petroleum Plc’s shares. The Independent Shareholders therefore prayed the court to remove Dangote as President of the Exchange, a case which the court adjudicated on at the expense of Dangote.
Having lost his presidency of the commission on such humiliating plane, the leading consumable producer, Dangote opened the Pandora box. It is a well known fact that the petition filed against Okereke by Dangote over infractions in the Exchange as well as its parlous financial state caused the Aruma Oteh-led Security and Exchange Commission (SEC) to kick both Dangote and Okereke out of the NSE.
Although, insiders said that Aruma Oteh’s action caught Okereke off her guard based on the latter’s long-standing relationship with her and influence in ensuring that the former Vice-President of the African Development Bank (ADB) got her current job in the SEC.
Since his pro-tempore appointment to cleanse the Augean Stables after Okereke’s sack, Emmanuel Ikarbozor, formerly of prestigious accounting firm, Akintola Delloite, has fired many of the old hands, particularly Kene Okafor and Farouk Oreaga, who were said to be loyalists of Okereke. Those who claimed to know why Okereke would do anything to have any of loyalists replaced her said that corruption under her was enormous.
Our source equally alleged that Okereke was fond of collecting bribes in foreign currencies from stock brokers during their IPO or Private placements, while defaulters are partially suspended. On the other hand, Okereke was purported to be in the act of always having any of brokers who caught her fancy in her bed, while there are claims that she is equally childless.

Friday, October 8, 2010


YES & NO WILL BE THE BEST TO HAPPEN TO TV IN NIGERIA
-OMOLARA OLUKUNMI, PRODUCER YES&NO

Born to the family of four, three girls and a boy, Omolara Olukunmi is a concept initiator that has acquired experience both in Nigeria and America in educating people in public relations. With more than 10 years outside the shores of the Nigeria, Lara has seen many ways that Nigerian are being maltreated in their quest for greener pasture in America and Europe . In correcting the abnormalities, she is set to hit the Nigerian television with the first of its kind concept titled, Yes&No.
In an interview with AB, the beautiful lady revealed why Nigeria is referred to as a third world country and the truth about living abroad.

What is Yes&No about
It’s a television programme that will educate and inform Nigerians on what happen to those who live abroad, seeking greener pasture. The programme is going to show the viewers, African as a whole why we are being referred to as third world nations. The programme will feature a lot of what is hindering Nigeria from being granted visa easily. West Africans, Nigerians in particular, travel a lot and most people have an impression that if you have not traveled out you have not arrived financially. There are lots of questions that require the yes or no answer. Should I go abroad? What can I do abroad? Should I stay in the country and work? And many more.

What is your motivating factor
My experience in the state is my motivating factor.

Don’t you think you will run of content soon with this kind of programme
It’s not possible for me to run out of content because what we will be discussing started since Nigeria gained independence in 1960. There will always be many issues to talk about

Who are your target audience and when will the programme hit T.V stations
Basically youths. Those in the middle age are also not left out. It will hit the television stations in the first quarter of 2011

What are the challenges you are facing to make this project a reality
The project is time consuming, a lot of brain work has been done here with sleepless nights. Sponsorship is another factor. Most brands really want to put their money on it, but they just want to be rest assured that it’s a programme that will drive traffic to itself.

What should viewer expect from Yes&No
A show that will well inform them and educate them because we are going to parade intellectuals, activists and others who can impact positively on their lives.

ALL SONA BREWERIES’ BRANDS ARE PROUDLY NIGERIAN
-Thompson S.B Owoka, Executive Director
Mr. Owoka, Thompson S. Banji is the Executive Director of Sona Breweries, one of Nigeria’s leading breweries. He was a board member of JIB Plc representing the interest of CSC Nominees Limited. He holds a Higher National Diploma in Accountancy. He joined the services of Sona Breweries Plc in 1983 and rose to the rank of Executive Director, a position he has held till date. He is a Chartered Accountant and holds the professional qualification of FCA. He is a Board Member of Sona Breweries Plc.
In his tastefully furnished office in Lagos, he granted a first of its kind interview to AB where he revealed the strength and strategy of Sona Breweries and how the collections of brands on the company’s shelve has become a sought after.

What is the secret of the success of Sona Breweries
Sona Breweries Plc is one of Nigeria’s leading breweries. We employ best global practices and internationally acclaimed human development tools to attract highly motivated individuals. The company’s success growth depends greatly on human resources. We have a performance management system that helps develop our staff and ensure adequate reward for performing staff. Sona is a home away from home where opportunities are bound for staff to pursue career dreams and achieve same. In Sona, learning and individual growth is a continuous process. We have various training programmes to enable our staff offer outstanding quality performance.
We hire exceptional dynamic people. Everyone is empowered to think independently, take initiative and be innovative. We give equal opportunity to qualified individuals regardless of their sex, religion or disability.
We attract and retain only the best people that can make a difference in our corporate existence. Our workforce is made up of Nigerians and expatriates from European and Asian countries. The company is a bonafide member of Nigeria Employers’ Consultative Association (NECA) and Association of Food Beverage & Tobacco Employers (AFBTE). All these associations provide the structural frame work on which personnel matters are managed.

What is Sona Breweries’ strength in the industry
Amongst our strength is the synergy between the new and experienced managers thus bringing in flow of fresh ideas.
Sona Breweries Plc is a thriving dynamic and exciting place to work with excellent career prospects. We provide quality healthcare system that is all embracing, staff’s family inclusive
We guarantee job security and encourage staff to see themselves as part of the corporate entity by rewarding them through the long service award. Our standards are uncompromising. We now have the Re-energized Sona Breweries since April 2009. The flight into the future commenced with the launch of 3 new home grown national brands – Malta Gold, Williams Dark Ale and Goldberg Lager Beer and the re-branding of the Sona corporate logo tagged “Pride of Nigeria.” We have recently installed state -of the- art brewery equipment with a capacity to produce 150million liters.

How are the new collections of brands doing in the market and what are the challenges
By God’s grace, it’s been splendid. For example, beginning from the name Malta Gold, it’s distinctive. We decided not to follow the pattern of new bottles that other malt drinks are embarking on, but to remain with our old bottle that’s unique. As ‘am talking to you, one of the Africa’s biggest shopping mall; Shoprite, just rated Malta Gold as the highest selling malt drink in the mall. We are using unique packaging in selling all our products and our consumers can judge what quality the contents has.
As per other brands like Williams and Goldberg, our concentration is not basically on the rural are, but we have our strength there. As regards challenges, transformation was a risk that we took at that time that the Nigerian economy is not buoyant, the meltdown issue. But the rest are history now because even in Lagos, which is the most rewarding and most challenging market, we’ve been able to penetrate more than 10% of the market share. I can boldly tell you that all our brands are proudly Nigerian.

Sir, you said you have 10% of Lagos market share, is that a good deal
Yes, looking at the competition in the brewery industry and our brands age. The truth is that we are still growing, spreading like a wild fire to dominate the heart of our consumers. Some people said why is it that our brands are not available in the so called A-class bar in Lagos and I tell them that what is the percentage of the so called A-class in our community and what is their consumption level. Then I’ll like to concentrate on the B-class and the C-class, who will readily patronize me with high consumption always. The quality of our brands is what others cannot compete with. We are far better, while others are living on their old glory that is dying.

Presently you are running a promo linked with Nigeria’s 50th anniversary, what’s the synergy
Well, Nigeria at 50 is a landmark, we are celebrating Nigeria’s Golden Jubilee with great opportunities for our consumers and indeed all Nigerians to win some fantastic instant prizes. And apart from the prizes that would be won during the course of the promo, the major benefit of the “Catch This Offer” is to reintroduce Nigerians to our brands which are brewed using 100 percent local produce.

Why are you not following the trend of consumer based promo where promises of becoming a billionaire overnight is the slogan
Our promotions prizes include 1.7 million free drinks, 10, 000 footballs, 130, 000 exercise books and 200, 000 biros to our esteemed consumers. Our target is to direct our consumers to the brand with all sincerity. Hardwork with sincerity brings success and that is what we will always encourage. The prizes to be won in our promotions will always attach our consumers to us.

What should consumer expect from Sona Breweries in years to come
Consumers should expect the introduction of more brands in both lager beer and malt drink. There will be a unique packaging of our products and we will continue with the objective serve our consumers in the best way. Consumers should look forward to what we will unveil within 11pm of September 30th and 1st of October this year.

THE“33”STRATEGY
It definitely wasn’t a price war because the price was too low in relation to competition. Neither was it a direct attempt to stand up to the “big boys” because it hadn’t the clout, at least, not in the short-run. Then maybe it was a deliberate strategy employed to subtly creep into people’s heads and with time, steal their hearts, and eventually find its place. On the contrary, too, that wasn’t the strategy. What then was the strategy? It was just this-that every carpenter, mechanic, artisan, everybody, anybody, just no matter who they(the common man) were or their status in life, should be able to afford a bottle of beer.
A couple of years ago the brand, “33 Export” Lager Beer, was considered by some as the brew for the “small boys”. At that time, the slogan “smaller boys” was used in reference to those who could not readily afford the price of the so-called “big boys” lager. While other loyalists of the brand preferred the brand for other reasons, the slogan didn’t take that into cognizance. True to that slogan though, it was the need of the so-called “small boys” that 33 Export Lager filled.
What is noteworthy here is the strategy employed by the owners of the brand back in the years. It was simply the beer for the masses. The price was the distinguishing factor while there was deliberate effort to keep the quality at the level of the big league lagers. That strategy was quite successful. Interestingly but curiously though, today 33 Export Lager has found itself, not in the “League of Extraordinary Lager”, but it has had its price very close to, and sometimes in the “League of the Extraordinary Lagers”, at least, in a good number of points of sale.
The strategy was to have “33” Export Lager Beer as one for everybody, one for the masses; people in the low income bracket, the ordinary people-people of little means who feel the need to enjoy the experience of a lager without hurting their pockets. That means being relatively cheaper, affordable. Presently, the price of the lager is very close to the price of the “League of the Extraordinary Lagers.” At about this time, a few questions elicit answer. What has happened to the strategy? What has happened to the brand idea? Has the brand lost it along the way? Has the brand been carried away?
These questions beckon answers-answers from the view of proponents of Strategic Planning, clearly not as a management accounting function, but as a brand management function. This means understudying the target consumer to determine WHAT THEY HAVE (low income) and WHAT THEY ASPIRE (the enjoyment of a lager that will fill that need within their means)Once this has been identified, you stick to it.
The success recorded by the brand by virtue of that strategy has been phenomenal. This has really given the brand a very wide acceptance, appeal and leverage. It has become one to which people could relate. That is, when they stuck to their strategy. Now, it seems the brand has forgotten the son of whom it is (pun intended). Is this a new idea for the brand? How far can it go without that unique idea-the beer for the people, ordinary people? Well, it’s only time that will determine.
Michael Oton
HABIB BANK DANGLE N135BILLION ON BANK PHB
Bank PHB may not need to look far in its quest for core investor as Habib Bank as signed all necessary document to acquire the bank.
Habib Bank, which is one of the institutional share holders of Bank PHB, according to an insider, is set to increase its stake and take over the ailing bank. It was alleged that the process has reached an advanced stage with the paperwork that effectively makes senior executives of Bank PHB staff an ordinary staff in Habib Bank Limited.
Those who should know revealed that all the three parameters which are liquidity, capital adequacy and corporate governance that were used to assess the health of the banks have failed in Bank PHB.
It will be recalled that the former managing director of Bank PHB, Francis Atuche was sacked by the apex bank, Central Bank of Nigeria for N400billion unsecured loan to friends and relations contrary to laid down credit approval procedures in financial institutions.
FCB REDLINE IN DISARRAY OVER LOST OF SPRING BANK ACCOUNT
Fcbredline an affiliate of centre spread Fcb, proudly owned by Mr. Kolawole Ayanwale is presently in disarray over lost of Spring Bank public relations account.
The account, according to a reliable source, was withdrawn by Spring Bank few weeks back when it was obvious that Fcbredline couldn’t manage an allegation of fraud in Spring Bank, which allegedly sum up to N5.2billion involving the Managing Director, Mrs. Olusola Ayodele.
It was also gathered that the resignation of Fcbredline’s Managing Director few weeks ago threw the public relations’ outfit in disarray and could not find its feet, when the bank’s issue was raised.
Those who should know revealed that the public relations outfit might lose other accounts if a new and capable managing director who has been in the system is not appointed.
Contract for the management of Spring Bank’s public relations has since been awarded to a capable hands and veteran journalist, Mojeed Jamiu.
Fcbredline has the history of resignation of its managing director at crucial points when the outfits needed their services much.
The agency has been in existence for close to 5 years with Moneygram as its major account.

DUD CHEQUE TEARS ARIK AIR, INTERCONTINENTAL BANK APART
One of Nigeria leading airlines, Arik Air is allegedly involved in a case of dud cheque, which was allegedly issued to the Nigerian Civil Aviation Authority (NCAA).
Those who should know divulged that Arik Air issued an Intercontinental Bank cheque of N2 million to NCAA as tenement fees, but sources said that NCAA couldn’t cash the cheque as it was not honoured by the bank.
It was also gathered that the management of Arik Air is now angry with Intercontinental Bank for allowing the public know that the airline is in a financial mess.
An insider in the airline said that NCAA did not follow normal banking procedure, which why the cheque did not clear.
A source at Arik Air, who preferred anonymity, added that the airline thought that NCAA had cashed the money because the cheque was not returned, and that it was surprised to see a letter sent by NCAA claiming that the bank did not honour the cheque.
Intercontinental Bank is one of the several banks through which customers of Arik Airline pay for tickets.
The bank, according to an insider, has sent a letter to Arik Air to the effect that they could not continue to cover-up for their financial mess as the issue might affect their stand with the Central Bank of Nigeria.
Sources however, said that Arik Air has prepared a memo, which will be made public in few weeks to inform customers not to pay any cash into its Intercontinental Bank account henceforth, since, according to sources, the bank is not ready to keep its mouth shut over the financial mess of the airline.
When a phone call was made to Mr. Adebanji Ola, the Media Officer of Arik Air, he denied knowledge of the memo, and insisted that the airline is not in a financial mess.
“Arik Air is not in a financial mess and the issue of the dud cheque with NCAA was borne out of lack of communication between the two entities and as regards Intercontinental Bank, our decision will be made public very soon,” Adebanji said.
Efforts made to get officials of Intercontinental Bank to speak on the issue proof abortive as at press time.

FCMB’s BID FOR FINBANK HITS BRICKWALL
-Top executives fingered in the manipulations
That First City Monument Bank (FCMB) bided for the acquisition of First Inland Bank (Finbank) is no news, but what is really new is the fact that the bid has hit a brick wall with the intervention of the apex bank in the deal.
The Central Bank of Nigeria (CBN), according to an insider, allegedly cancelled the bid due to the deluge of allegations of manipulations and insider dealings leveled against the management of Finbank.
The source, who claimed anonymity, revealed that the CBN Governor, Mallam Sanusi Lamido Sanusi was not happy with alleged complicity of the bank’s management in the recapitalization process of Finbank Plc.
Those who should know revealed that some aggrieved shareholders of Finbnk Plc alleged that the management, led by the Group Managing Director, Mrs. Susan Iroche and two other Executives Directors, Alhaji Abdulrahman Yinusa and Adamu Nuru has been manipulating the process of acquisition to favour FCMB because of their relationship with Ladi Balogun, FCMB Group Managing Director.
An impeccable source claimed that Alhaji Yinusa, a director of Finbank happens to be a member of the company that is being used as the independent financial adviser on the bidding and the company’s name that was used is originally owned by one of Otunba Subomi Balogun’s wives. Chapel Hill, another company involved in the bidding, was said to be owned by Bolaji Balogun, the elder brother to Ladi Balogun, GMD of FCMB.
Insiders alleged that despite the fact that FCMB submitted the worst bid in the acquisition process; Finbank’s management approved it as the highest bidder. FCMB bid for the rescued bank is for 82 percent ownership at N18billion.

OBA OTUDEKO-LED BHARTI AIRTEL IN DEBT MESS
Bharti Airtel Limited, India largest wireless operator with less than six months operation in Nigeria, is allegedly involved in a debt mess with Broad Communication Limited, a leading shareholder group of the telecommunication company.
Those who should know divulged that Oba Otudeko-led Bharti Airtel that bought Zain Africa asset for an enterprise value of US$10.7 billion few months ago has refused to pay what Zain was owning Broad Communication before it was sold to them.
It was also gathered that Broad Communication had an outstanding of about N50 million with Zain before it was sold to Bharti Airtel.
Impeccable sources added that Broad Communication has sued Bharti Airtel to a law court to safeguard the investment of shareholders in view of the alleged gross mismanagement and financial indiscretion of Zain group.
An insider from Bharti, who preferred anonymity, disclosed that the company’s management has been treating shareholders unfair since its inception by turning down request of the shareholders to meet with the new management of the telecommunication company, where they have their investment.
The source added that the management is set to reduce its work force by sending away some staffers who know much about the metamorphosis of the company from Econet to its present owner few weeks time under the pretext of staff reduction due to the fact that some of the old hands have relationship with some shareholders.
Officials of the Corporate Communication Department of Bharti Aitel did not deny that it has a working relationship with Broad Communication, but declind to speak on the debt issue, when contacted to react to the matter

JIM OVIA’S N1.8BILLION LARGESSE TEARS ZENITH BANK APART
The former group managing director of Zenith Bank, Jim Ovia’s alleged largesse has reportedly tore the cordial relationship that used to exist among top executives of the bank apart.
The largesse, which amounted to the sum of N1.8 billion, was allegedly given as farewell package to top executives by their former boss as the GMD.
As the pioneer GMD for 20 years, Jim Ovia left Zenith Bank on July 31, 2010 in compliance with the 10-year-maximum tenure policy of the Central Bank of Nigeria (CBN) for bank chiefs with the parting gift that has backfired as a dissatisfied group within the bank executives is kicking against the sharing formula which favours some. Impeccable source from the bank divulged that the powerful group made up of those close to the former GMD benefited most, while those who did not has already petitioned the CBN for its intervention.
The source, who claimed anonymity, revealed that out of about N1.8 billion, a sum of N75 million was allegedly paid to the current GMD/CEO of Zenith Bank, N250 million to five Executive Directors (EDs) another N450 million to 10 General Managers (GMs); N250 million to 10 Deputy General Managers (DGMs) and N700 million to 35 Assistant General Managers (AGMs).
Those who should know claimed that the disbursement of this whooping amount, said to be authorized by the Ovia-led management, was done shortly after a special session, which the retired GMD allegedly held with senior staffers of the rank of AGM and above, at the Civic Centre in Victoria Island, Lagos, a posh events centre also said to be owned by Ovia. The alleged cash gift was meant to be a farewell compensation or a kind to those who were loyal to the former GMD during his tenure.
A source in the bank said that the former GMD realized the need to pacify the management staff as a way of expressing appreciation for their services over the years. However, another source said that there is more to the huge payment than the ostensible reason adduced.
A reliable source claimed that prior to his departure, Ovia embarked on a massive movement of staff within the bank. It was gathered that those who were moved were those who had worked on sensitive transactions, especially in strategic branches and departments, like Treasury and International Operations and holding the bank and its management on hostage with threats to expose illegal deals they had participated in.
The source revealed that a senior manager had actually threatened to expose sensitive information on a particular forex transaction if he was forced to resign. Another had threatened to reveal details of a transaction involving a former African president in one of its branches in a state in the South – South of Nigeria.
Reliable sources divulged that bigwigs in the banking industry have intervened in the matter for it not to escalate to the extent that it will affect other banks