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.
Saturday, October 30, 2010
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
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.
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.
*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
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.
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.
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.
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