Monday, April 29, 2019
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
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
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
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
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
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
Wednesday, April 10, 2019, the Group Managing Director/ Chief Executive Officer Designate of Zenith Bank, Ebenezer Onyeagwu paid a
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
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.
Monday, April 1, 2019
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
The spoke person for Innoson Motors, Cornell Osigwe who spoke to