First Bank

Thursday, July 14, 2016

Agitated Bank Boss, Uzoma Dozie Gets Small Consolation Over Diamond Bank’s Plunging Performance

After a terrible run that has given management headaches, particularly front man Uzoma Dozie, Diamond Bank just secured a slight respite.
‘’it shares made a slight gain after a four day down plunge’’ learn't.
The spiral which has put the management on edge was sparked off by what sources tagged ‘’ capital concerns’’.
This is against background of words on the street that the fate that befell Skye Bank is about to be visited on Diamond bank.
Skye bank just experienced a change in management over discovery of insiders abuse largely committed by the immediate past Chairman Tunde Ayeni and some Directors.
Sources claim information making the round has it that the attention of stick wielder Central Bank of Nigeria was on Diamond Bank.
The talks has sparked off confidence crisis amongst it’s publics and translated into a plunge of it’s shares for four days running.
The development has reportedly sent jitters down the spine of managing director Uzoma Dozie whose tenure has been decorated with all manners of talks about how he emerged since he assumed office.
He is the son of a major stakeholder in the financial institution.
He took over from celebrity banker Alex Otti, who left his position to vie for the governorship position of Abia state.

But since he assumed office, unlike his predecessor Uzoma has had to contend with this and that talks about how good he is compared to the man he took over from.
‘’so he is in a permanent state of having to prove himself’’ a source stated. learnt he became agitated with the plunging shares in face of the skye back episode.
There are talks the bank he oversees is contending with high number of loans dragging its performance.
Recent development has however given the young bank boss a breathing space – a slight earning in trade of the bank’s share and release of rating by Fitch, one of the big three credit rating agencies world.
Fitch affirmed the IDRs of eight Nigerian banks, including Diamond Bank and affirmed the Viability Ratings (VR) of all the banks.
According to a source ‘’it couldn’t have come at a better time’’
Insiders divulged Uzoma has ordered a massive deployment of public relations materials about the ratings to arrest negative perception currently enveloping the bank occasion by plunged shares – and speculation of possible central bank interference in its affairs.

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