Otti Ruins Diamond Bank, As it sells off its operations in West African countries.


Diamond Bank has said it would sell its West African banking operations in Benin, Togo, Cote d’Ivoire and Senegal to focus on the Nigerian retail banking opportunity.

This is as a result of the Mismanagement of the Financial Institution by it’s erstwhile Managing Director, Allex Otti.

The bank said that the company banking operations in the four West African countries would be sold to Manzi Finances S.A, a Cote d’Ivoire financial services holding company.

Diamond Bank has already incurred loses due to bad management by Allex Otti Which has also seen the bank in recent time intending to Sell it’s assets to ACCESS BANK PLC.

Chairman of the Bank, Pascal Dozie had intervened to save the Bank by undertaking and embarking on numerous reform policies Which included but not limited to change in management and Boards.

The Bank consequently fired it’s former Managing Director Dr. Allex Otti to pave way for reform of the Financial Institution in order to prevent it from collapsing.


It would be recalled that Allex Otti utilised the Bank finances to run for unsuccessful Governorship race in ABIA State thereby incurring So much debt for the Bank.
Presently, the Bank is still struggling to meet up with it’s Central Bank Financial Benchmark to stay afloat.

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