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Beware Of Union Bank of Nigeria PLC: The Worst Bank In Nigeria? 2008-2012 (2) (3) (4)
Funke Osibodu Exits Union Bank by BLACKPANTHER(m): 1:30pm On Jul 19, 2012 |
The Group Managing Director/Chief Executive Officer (CEO) of Union Bank of Nigeria Plc, Mrs. Funke Osibodu, is to step down following a reorganisation of the board and management of the company by the core investors, Union Global Partners Limited, in agreement with the Asset Management Corporation of Nigeria (AMCON). http://www.thisdaylive.com/articles/osibodu-exits-union-bank-hands-over-to-emuwa/120353/ |
Re: Funke Osibodu Exits Union Bank by Afam4eva(m): 2:37pm On Jul 21, 2012 |
Is that not the woman that won an award sometime ago? I hope Mr Emeka Emuwa is up to the task. |
Re: Funke Osibodu Exits Union Bank by otokx(m): 2:40pm On Jul 21, 2012 |
What did she achieve while she was there? Each time he works past the citibank branch in Trans Amadi road, Port Harcourt, he wonders whether their clients are demons, angels and dead spirits because the place is always deserted. What type of bank is this? 1 Like |
Re: Funke Osibodu Exits Union Bank by Nobody: 2:52pm On Jul 21, 2012 |
The reason why she is stepping down is simply beacuse she messed with that staff of the Bank and am sure they got tired of her already. |
Re: Funke Osibodu Exits Union Bank by Nobody: 2:57pm On Jul 21, 2012 |
good news atleast pensioniers in nigeria can take in frex air cox d bank wil be a bit fast now. |
Re: Funke Osibodu Exits Union Bank by segunjowo(m): 2:58pm On Jul 21, 2012 |
^^ Citi bank doesn't have much customer. I wonder how they make their money. But then, I know they do a lot of Trade Finance (form M). Its their core business. As for Osibodu. Her pepper don rest make she go siddon..or go create her own bank! |
Re: Funke Osibodu Exits Union Bank by pheemmii(m): 3:00pm On Jul 21, 2012 |
otokx: What did she achieve while she was there? You don't have any information about Citibank, it is a subsidiary of CITIGROUP. Try to visit one of their branches and see what they can offer you.. A trial will convince you. Did you ever heard of Standard Chartered Bank b4? Pls do find out also, tanx. 1 Like |
Re: Funke Osibodu Exits Union Bank by Charlesnerd: 3:04pm On Jul 21, 2012 |
otokx: What did she achieve while she was there? citibank is a multinational bank with roots in the US.Most wire transactions in Nigeria to foreign correspondence banks are carried out by Citi,so many multinational companies operate domiciliary acounts with them too. |
Re: Funke Osibodu Exits Union Bank by Nobody: 3:08pm On Jul 21, 2012 |
otokx: What did she achieve while she was there? ROFLMAO |
Re: Funke Osibodu Exits Union Bank by Lisa1: 3:26pm On Jul 21, 2012 |
Well |
Re: Funke Osibodu Exits Union Bank by Nobody: 3:35pm On Jul 21, 2012 |
segunjowo: ^^ Citibank is a wholly owned subsidiary of Citigroup Inc which for many years was the biggest Financial Services firm of anykind in the world before the resent crisis. The bank does not yet provide retail services to Nigerian customers but it provides Corporate Banking, Cash Management and Treasury to multinationals and also wealth management to the affluent. Emeka has been the MD of Citibank for close to 10 years and he is one of the best minds in the industry. I am actually surprised he took the job, but then I know he is close friends with Okey Elenamah of African Capital Alliance. It is a very good move for the industry as a whole as I believe Emeka can transform Union into a world class bank with the help of ACA. 1 Like |
Re: Funke Osibodu Exits Union Bank by Nobody: 3:37pm On Jul 21, 2012 |
They should also sack those their insultive nurse eliza's working in that bank as CS |
Re: Funke Osibodu Exits Union Bank by Afam4eva(m): 3:39pm On Jul 21, 2012 |
Nashville:I also find it surprising that anyone would leave a Citibank to go take a job in a dead bank. Anyway, Mr Emeka knows what he 's looking and maybe he wants to challenge himself. |
Re: Funke Osibodu Exits Union Bank by Onyemola: 3:41pm On Jul 21, 2012 |
otokx: What did she achieve while she was there? City Bank's target market is not retail, you may not see a lot of customers in their branches but the bank is doing well. 1 Like |
Re: Funke Osibodu Exits Union Bank by Nobody: 3:44pm On Jul 21, 2012 |
afam4eva: Beyond the challenge, he has very little authority at Citi. The overall direction for the Citibank in Nigeria is determined in London so he may be unable to carry out his dream/vision for the bank. Union may provide the opportunity to expand and actually do something of his own. If he can turn union around it will be very good for him and I am sure he can build an empire much more quickly at Union rather than at Citi where he is very closely monitored. 1 Like |
Re: Funke Osibodu Exits Union Bank by Nobody: 3:59pm On Jul 21, 2012 |
This woman literarily ran the bank down. Anyway, I don't think I'll ever have any business with them. |
Re: Funke Osibodu Exits Union Bank by buchio7(m): 4:11pm On Jul 21, 2012 |
most of your naija banks cant even begin to do the sort of transactions citi bank does nor even post dere kind of profits.......emuwa has been instrumental to a lot of big ticket transactions they do here in naija.. Union shd be better off wit him at its helm of affairs. 1 Like |
Re: Funke Osibodu Exits Union Bank by ebamma(m): 4:32pm On Jul 21, 2012 |
otokx: What did she achieve while she was there?banks dont make any profit from your savings account,so dont think that because a bank has many customers, the are making profit |
Re: Funke Osibodu Exits Union Bank by Nobody: 5:01pm On Jul 21, 2012 |
ebamma: banks dont make any profit from your savings account,so dont think that because a bank has many customers, the are making profit Well, that's not totally true. All banks need to lend to customers and corporate organizations, they also need funds to satisfy regulatory requirements. Where do you think the funds come from? |
Re: Funke Osibodu Exits Union Bank by Nobody: 5:05pm On Jul 21, 2012 |
ebamma: banks dont make any profit from your savings account,so dont think that because a bank has many customers, the are making profit saxywale: You are both right. Every bank need customers to succeed. But the customers do not have to be retail customers so the fact that a bank may look empty on the inside does not mean it is less profitably. The clients may be multinational and just one transaction may be more profitable that have 1000 retail customer trades 1 Like |
Re: Funke Osibodu Exits Union Bank by kolexy(m): 5:05pm On Jul 21, 2012 |
pheemmii: Standard Chartered ko, Scatter scatter ni. Yeye Slave drivers. |
Re: Funke Osibodu Exits Union Bank by rasputinn(m): 5:07pm On Jul 21, 2012 |
Has she accounted for the 15 billion naira rights issue proceeds that developed wings courtesy of she and her cohorts? |
Re: Funke Osibodu Exits Union Bank by leighcon(m): 5:24pm On Jul 21, 2012 |
^^ Rasputinn your post seem uninformed. The right issue was only 15.5% subscribed far below the threshold allowed by SEC for the proceeds to have been due to the bank. In this vein the registrar is to return money to people who subscribed. The shareholders of the bank have been receiving their money back through the same channel they receive dividends. The money did not even get to the management of the bank in the first place. @topic Good development for the bank but beyond a new CEO, new technocrats are generally needed at its top echelon to achieve the expected transformation. Lets all wait to see the bank unfold, for me I think the new core owners have been too slow. It's been a year already that those folks bought in. Anyone with some more info not in public glare? Please share, this has been the only gist for 4 days now. Meanwhile, the time to buy the bank's stocks is now. |
Re: Funke Osibodu Exits Union Bank by dabrake(m): 5:53pm On Jul 21, 2012 |
Thank baba J. Union bank became a primitively oriented banking institution under her leadership. |
Re: Funke Osibodu Exits Union Bank by braveheart2012(m): 5:57pm On Jul 21, 2012 |
Hahahahahaha! I knew those PE investors would get burned. Dumb money chasing dumber investments. Emuwa had better enjoy his new and improved paycheck; he might just be jumping on a fast-sinking ship. |
Re: Funke Osibodu Exits Union Bank by BLACKPANTHER(m): 6:47pm On Jul 21, 2012 |
@braveheart its nt a fast sinkin ship bt a STALION,in reality wt goes up must come down bt UNION has been down 4 years-SO AS U WATCH THINGS THAT ARE UP COME DOWN.ALSO WATCH THOSE DOWN GO UP THIS AMAGEDIC 2012...i layed the POST to see wat ideas fly around this development. |
Re: Funke Osibodu Exits Union Bank by Ekans: 7:11pm On Jul 21, 2012 |
Come to think of it,union bank has failed to join the new age.I wonder why i keep seeing deadwoods in that bank or did those papas and mamas working there inherit the bank in a WILL.They are way to dowdy in apperance and attitude to work.I hope the new man brings in new innovations. |
Re: Funke Osibodu Exits Union Bank by Ekans: 7:12pm On Jul 21, 2012 |
Come to think of it,union bank has failed to join the new age.I wonder why i keep seeing deadwoods in that bank or did those papas and mamas working there inherit the bank in a WILL.They are way too dowdy in apperance and attitude to work.I hope the new man brings in new innovations. |
Re: Funke Osibodu Exits Union Bank by musiwa45: 7:52pm On Jul 21, 2012 |
my honest opinion on this is not public.. if you contact me privately i will kindly advice you wisely.. amusiwa@hotmail.com/ i have my worry and my worry will be accurate. |
Re: Funke Osibodu Exits Union Bank by Nobody: 9:20pm On Jul 21, 2012 |
Why recycling people,when there are better people with great innovations on the outside?,we need new ideas,innovations that can be powered with intelligence. |
Re: Funke Osibodu Exits Union Bank by stolenstone: 9:53pm On Jul 21, 2012 |
omo all these papas and mamas wey we dey yab like this, its a question of time ooo, we will soon get to that stage in lyf. what goes around comes around! Meanwhile having said that, its a good thing d management of union bank is getting a fresh blood at d helm of affairs, lets see if d new guy can pedestal d bank into d limelight of world class banking! |
Re: Funke Osibodu Exits Union Bank by braveheart2012(m): 9:55pm On Jul 21, 2012 |
BLACKPANTHER: @braveheart its nt a fast sinkin ship bt a STALION,in reality wt goes up must come down bt UNION has been down 4 years-SO AS U WATCH THINGS THAT ARE UP COME DOWN.ALSO WATCH THOSE DOWN GO UP THIS AMAGEDIC 2012...i layed the POST to see wat ideas fly around this development. Mr PR Agent! Stop am! Isn't this the same bank that's almost entirely funded by very short-term fixed deposits. Hahahahahaha!!! The bank has no customers! It's an empty shell with a storied but tarnished brand! Nothing but a miracle can make this stallion gallop again! I am all for giving people and institutions the benefit of the doubt when my money isn't involved. So, good luck to everybody involved with Union Bank! Hope the stallion doesn't fall dead soon from undernourishment and old-age. |
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