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
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