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