₦airaland Forum

Not to worry, all you who don't believe in God, when you are eyeball to eyeball with death in an unexpected circumstances, trust me you will call HIM in however your subconscious has HIM stored.

J: Jesus
I: Is
H: Holy
A: And
D: Divine

So they can jihad all they want, silly MOFOs

Can anybody please provide the exact departure time of the said dana air plane from abuja in order to confirm or dispell the recent rumour that the airspace was on lockdown for 2 hours for the first lady. If according to the eye witness ( the op) it happened around 3:56pm, it suffice to say the plane left Abuja at 3:00pm thereabout.
Who can confirm that that was the actual time of departure or the plane was left to be hovering for over two hours.

@ OP, question for you, do you live in Lagos?

Memory and mind are very interesting part of us human, we get so use to things that we totally forget how they were before. Who can remember how these locations were before, be it POP eye governor, be it BRF. Anybody is free to add locations as i don't know all of lagos.
1) Marina in Lagos.
2) Oregun Road.
3) Murtala Muhammed Way
4) Oshodi
5) Eric Moore Road.
6) Awolowo road Ikoyi

It is not a curse, Nigeria can never be free from corruption and its damaging effects.

SEC DG, Ms. Arunmah Oteh.

…. Says Access Bank Pays Salaries Of Staffers Hired By SEC Who Occupy Strategic Positions.

ABUJA, March 14, (THEWILL) – The Director General of the Securities and Exchange Commission (SEC), Arunmah Oteh admitted under oath Wednesday afternoon before the House Committee on the Capital Market that two Access Bank Plc staffers who are currently occupying strategic positions in the regulator were seconded from Access Bank Plc and are being paid by the bank.

The stunning revelation which Oteh had initially tried to dodge at the public hearing put the ability of the regulator to carryout over sight functions on the bank in question.

Many observers believe that SEC may have been compromised by Access Bank Plc who have been severally accused of unethical and sharp practices in the banking sector especially in the stock market. The bank led by Aigboje Imoukhuede recently acquired troubled lender Intercontinental Bank Plc in a controversial deal.

The Access Bank Staffers – Mr. Charles Ugheli, working as a Project Adviser to Oteh in SEC and Titi Olubiyi, a communications adviser to Oteh are full staffers of Access Bank Plc but resume duties at SEC.


THEWILL later gathered from sources that Charles Ugheli, who works directly under Oteh oversees Access Bank Plc.

In addition to suspiciously hiring two Staff of a bank (Access Bank Plc) monitored by SEC, Ms Oteh was alleged to have been involved in a number of extravagant spendings, including wasting more than N30 million in eight months on hotel accommodation.

Chairman of the Committee, Hon. Herman Hembe who made the disclosure, accused the DG of engaging in illegal employments, and decried her employment of two staff of Access Bank Plc at SEC, an action he believed was capable of compromising the regulatory functions of the organisation. According to the chairman, Oteh engaged in reckless spending when the capital market was almost collapsing.

“What you are doing at SEC smacks of plenty of fraud; it seems to me that you're playing a very serious role to make sure that the capital market does not work,” he said. "You stayed in a hotel for eight months and spent over N30 million. In one day, you spent N85,000 on food at the hotel. The other day, you spent N850, 000 on food. These are the things we should look at to see how you will regulate a market that is collapsing.”

In a swift reaction to our report SEC released a statement titled: “Securities & Exchange Commission (SEC) Not Compromised!"

The regulator attempted to talk its way out of the revelations by describing our report as “Skewed.” “It is important to put the story in the right perspectives before the misinformation assumes a life of its own,” it added.

“The Director General of Securities and Exchange Commission, Ms. Arunmma Oteh used her used her personal goodwill to attract two people on secondment to the SEC from Access Bank. They work in Brand Communications Support and Project Management / Premises Maintenance. Two areas in which SEC was and still is deficient and which are absolutely unrelated to the regulatory mandates / roles of the SEC Nigeria. There is therefore absolutely no conflict of interest involved in the matter.

They work pro bono, i.e. without earning any salaries at the SEC. They are not staff of the SEC and have no intention of taking employment at the SEC. The DG of the SEC should be commended for using her goodwill to attract them at no cost to the Commission.

The Hon. Herman Hembe, Chairman of the Public Hearing has shown needless and manifest hostility to the DG of SEC to the detriment of both the capital market and the national interest. He has twisted the facts to suit premeditated interests, which are known only to him.

While we whole heartedly welcome the public hearing, we should be mindful of utterances and acts that may erode the investor confidence which the regulatory body has been building through its numerous reforms,” the statement added.

The statement was however silent on the huge bonuses and allowances paid the two Access Bank staffers by SEC.

The statement was also silent on the ridiculous N30 million naira in 8 months wasted on accommodation and lifestyle for Oteh at the Transcorp Hilton Hotel Abuja.

http://thewillnigeria.com/business/13002-Update-SEC-Compromised-Oteh-Admits-Hiring-Access-Bank-Top-Staffers.html

Need We say more? SMH

https://www.youtube.com/watch?v=qr6u99-HmCA

Common Sense Management Vs Conventional Management Practice. Access Bank

Who experienced the abysmal customer service delivery by Access Bank this past week? Under the guise of system cut-over, this to a large extent one could see that it is not a success. This was expected to happen given their management style ever since they took over Intercontinental Bank.

Let’s start with their core banking application software, Flexcube. Their action in this regard makes one doubt their strategic managerial experience. I would portray their action as somebody who was using a Volkswagen beetle and was eventually blessed either by hook or crook with a 2011 V6 passat and for whatever reason wanted the Passat engine replaced with that of the beetle.

Access bank uses Flexcube 6.2 version, this works well for their style of banking (corporate), their customer base and their number of branches. Intercontinental Bank uses the same Flexcube but a higher version 6.6 which works well for intercontinental given their number of branches and customer base. One would think Access will migrate from Flexcube 6.2 to 6.6 but NO, in their own school of management practice a downgrade will best serve their purpose. The end result is what customers have started experiencing starting last Friday. Customers had been advised a new account number only for a text to be sent to disregard the initial account number sent that the correct one will be sent soon.

The vendor of Flexcube software informed Access bank that they don’t do downgrade when they were contacted for consultation on system migration. I don’t see how the passat will perform optimally with that beetle engine.

Secondly is the rationalization of intercontinental staff, it is true that every businesses is out to make profit and increase its shareholders value, however it feels this can be achieved is welcomed as long as it is within the ambit law of the land. If Access feels it needs to cut down on staff overhead and staff rationalization is the way to go about it, no problem. However timing becomes crucial when one wants to do this.

Access acquired Intercontinental bank and set out a plan to fully integrate the two entities seamlessly within a year, somewhere along the line this was reduced to nine months, six months, four months and eventually down to two months plus. Despite this goal post shifting staffs were willing to work and ensure the success of the plan because the vital aspect of project management was observed; all stakeholders must be carried along.
Now I stand corrected, is it not common sense (managerial) to ensure that the critical phase of integration and consolidation (system wise) is concluded and ensure that all systems are ok and working perfectly before rocking the boat with staff rationalization? . Let’s say for the moment the staff rationalization has to be done at that point in time, I believe some staff should have been excluded no matter the criteria used in coming to the decision, the staffs in the IT department.

These are staffs that were able to integrate and consolidate four banks (intercontinental, Global, Equity and Gateway) seamlessly; their experience and knowledge must count for something, but to wake up and asked them to go at the critical point in the new entity life cast doubt on the managerial prowess of the present management of the bank.

As at Friday, you can hardly collect your money, if you deposit it won’t be posted till days if posted eventually. Their staffs are closing at ungodly hours waiting endlessly for systems to come up if it ever comes up.

Hoping this coming week will be better.

Who during the past week experience the height of appalling services from Access Bank? It was to be expected given the happenings in the bank of recent. How it came to acquire Intercontinental bank is another topic for another day, however since their advent into the bank, their management skill have been put to test and to be magnanimous, I can say it is nothing to write home about. I guess that was the reason the Bank (Access) before their mis(adventure) into IB Plc was just THERE in the industry, no perceivable growth.
Lets analyse their management style or skill. First this action could be liken to somebody who was using a Volkswagen bettle and either by hook or crook was blessed with a 2011 passat and insist that the engine of the passat be removed and mounted into