First Bank

Monday, April 29, 2019

First Bank In Trouble Over Alleged Forgery!

The jury is still out on why an institution like the First Bank PLC of Nigeria would condescend to forge signatures, lie about a non-existent relationship with a lawyer, and, consequently, bring its decades o

Friday, April 26, 2019

Battle of The Oil Barons! Eroton, Notore Chemicals, Midwestern Oil And Gas Enmeshed In Multiple Breach of Contract Suits

The business empire of Jite Okoloko, one of the alleged strong allies of former Delta State governor, James Ibori, and a big beneficiary of the nation’s economic patrimony under the sixteen years of the People’s Democratic Party’s administration that ended in 2015, appears to be heading for

Court Set To Commit Guaranty Trust Bank’s MD Segun Agbaje and Its Chairman Mrs Osaretin Demuren To Prison Over Contempt Charge.

The Managing Director of Guaranty Trust Bank Segun Agbaje, Its Chairman Mrs Osaretin Demuren and the Company Secretary Erhi Obebeduo are set to physically appear before the Federal High Court Awka to show cause why they should not be committed for contempt and sent to prison for their willful, deliberate, wanton and unlawful violation of the

Wednesday, April 17, 2019

Nigerian Billionaire, Igho Sanomi Allegedly Forfeits Private Jet & 3 London Homes Over $3m Debt

Igho Sanomi is a Nigerian businessman,

All The Details As Zenith Bank Sustains Market Dominance With Improved Profitability

In the first quarter ended 31 March 2019, Zenith Bank Group recorded improved numbers across key metrics, driven by a solid performance in all business segments an unedited Q1 results released by the bank revealed.

This solid performance resulted in a Profit before Tax (PBT) of

Details As Shareholders Become More Troubled Over Sahara Energy’s Ballooned Debts

Few days after reports rented the air of a likely takeover of Sahara Energy Resources by UBA Plc, depending on the outcome of a litigation instituted by the bank over Sahara Energy Resources Limited’s inability to pay a debit of

Saturday, April 13, 2019

CCNN Beats Prediction, Records Net Profit Of NGN5.7bn In FY18

Cement Company of Northern Nigeria (CCNN) producers of Sokoto Cement has reported a net profit of N5.7bn (US$15.75m), 77 percent higher than in 2017 figures and ahead of predictions. This is the first

Friday, April 12, 2019

UBA Goes After Sahara Energy Over $15million Debt, Files Winding Up Petition

United Bank for Africa Plc UBA has filed a winding up petition against a Petroleum Resources company,Sahara Energy Resources limited over alleged inability of the company to pay a debit of

Thursday, April 11, 2019

Ayo Animashaun’s Smooth Promotions Takes Heritage Bank To Court Over Alleged Fraud!

Smooth Promotions, a Lagos-based media company whose properties include Hip Hop World, an exclusively music entertainment magazine; the hit entertainment channel Hip TV and the most prestigious music awards in Nigeria, The Headies, has filed a suit at the Federal High Court, in Lagos against Heritage Bank, alleging that

Wednesday, April 10, 2019

Lagos Gov Elect Babajide Sanwo-Olu Hosts Zenith Bank CEO Designate Ebenezer Onyeagwu

Wednesday, April 10, 2019, the Group Managing Director/ Chief Executive Officer Designate of Zenith Bank, Ebenezer Onyeagwu paid a

Why Staff Are Afraid As Abubakar Sule Takes Over From Ohiwerei As Keystone Bank CEO

A fresh wind of change blows through the Keystone Bank Plc, like the proverbial north wind rattling a merchant ship. It dwindles confidences into a pale glow and instills the fear of  Sule across every cadre of the bank’s staff as the Pacific gale taunts the soul of even the most sea-hardened sailor.

The storm of change courses through the financial institution at the emergence of Abubakar Sule as the new Managing Director (MD) of the bank. Soon after Sule was pronounced as the successor to the bank’s former MD, Obeahon Ohiwerei, every interest group, power bloc and cabal within the bank knew that real change was in the offing. They knew that things would never be the same with the bank .

Yet a palpable fear pervades the bank’s banking halls  as staff across every cadre go to work with trepidation in their heart. Besides their fear of Sule’s no nonsense nature, rumour that he may downsize anytime soon is one of the ugly reasons for atmosphere of fear. No one knows where or on whom the perilous axe may strike.

According to an insider, “Chances are when you dash into any of the Keystone Bank branches around you for any form of transaction the bank workers might not welcome you with a smile that has been one of the trademarks of customer service of Keystone Bank. The reason is not farfetched: there is a new man at the helm of affairs and the reality is gradually dawning on the workforce that his leadership style is a total departure away from that of his predecessor. The assumption of office of Abubakar Sule as the Acting Managing Director of the bank has been one appointment received by his subordinates with low spirit. The staffers have been walking around like a cloud of doom with their brows furrow in deep worry”.

Prior his appointment, Abubakar was Deputy Managing Director of the bank since October 2016, and it was expected that his coming on board as head honcho of the bank of which he has been a part and parcel of would bring excitement to the staff. Only few at the top echelon of the bank appear to be indifferent to his Abubakar elevation as the general feeling has been that of apprehensiveness. Insiders source ascribe the pervasive misery to Abubukar’s impetuous and imperial nature as a leadership. According to the source who spoke on the condition of anonymity, Abubakar’s breath-down-on-your-neck style comes with a feeling of unease and stifles staff creativity and performance.

The source further hinted that the erstwhile MD of the bank, Obeahon Ohiwerei, who suddenly resigned, was spiritedly appealed to by some influential staff and few board members within the system but all the appeals fell on deaf hear as Ohiwerei seemed to have made up his mind about leaving to pursue some “personal interests.”  Ohiwerei was said to be a boss with listening ears and broad mind. It is being insinuated that Ohiwerei’s resignation must have been as a result of some well concealed high wire politics played at the top. There had been some subtle campaign of calumny against Ohiwerei in recent months to discredit his performance as CEO.

Issues had been raised about the steady increase in the bank’s non-performing loans and rising growth in the administrative and general expenses which allegedly were depressing the bank’s operating income and had increased the erosion of equity due to accumulated losses. The matter came to a head when the media was awash with unsavory reports about unhealthy indices about the bank. There are fears that the acting MD, a man with stern mien, might carry out some surgical operations that would axe many of the bank staff in the name of downsizing.


Tuesday, April 9, 2019

Details s Ebenezer Onyeagwu Takes Over As Zenith Bank’s CEO ON June 1

Zenith Bank Plc. has announced the appointment of Mr. Ebenezer Onyeagwu as the Group Managing Director/CEO of the bank effective June 1, 2019, subject to the Central Bank of Nigeria (CBN) approval.
The appointment

Monday, April 1, 2019

Drama As Innoson Motors Seal GTBank’s Office In Execution Of Court Ruling Over Controversial Debt

Innoson motors Nigeria Limited has said it has sealed seven branches of Guaranty Trust Bank, GTB to recover it’s N8.8 billion.

The spoke person for Innoson Motors, Cornell Osigwe who spoke to