₦airaland Forum

Naijabanks doing well relatively well amid all the challenges and the ill-luck bedevilling them. It's only a matter of time, and you will see them take thier rightful positions in the top 100 of the global list.



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The National Industrial Court, Abuja, on Friday ordered Ecobank Plc to pay Mr Uche Abrah , the sum of N8.5 million as his cumulative salary arrears and gratuity from 2006 to 2014.

The court made the order after considering evidences in a case of wrongful dismissal instituted by Abrah against the bank.

The judge, Justice Peter Lifu, in the verdict, declared that the claimant’s dismissal from the employment was wrongful and illegal.

He, however, said that the claimant shall be paid three months salary in lieu of notice as dated in the defendant’s termination of employment policy.

Lifu stated that the claimant should be paid his gratuity from the period of his engagement by the defendant, commencing from Aug. 2006 to Jan. 4, 2014 and also salaries from the period of indefinite suspension.

He further ordered that a sum of N30, 000 should be paid as cost of suit and “the judgment should be fulfilled within 30 days or else attract an interest of 10 percent per annum’’.

Abrah had approach the court with prayer that he was dismissed on the ground of alleged conspiracy to steal over N2 million from the bank.

He had told the court that before his dismissal, he was suspended even when there was no evidence to prove the allegation against him.
Commenting on the verdict, the claimant’s counsel, Edwin Agbu, told the News Agency of Nigeria (NAN) that the judgment could not have gone otherwise because the bank had no evidence to back its allegations.

He expressed joy and satisfaction over the case, stating that the claimant was happy for receiving justice at last.

http://naijabankers.com/viewtopic.php?f=3&t=1111

Monogamy:
Leader of the Bring Back Our Girls group and former minister of education, Mrs. Oby Ezekwesili, has said that President Goodluck Jonathan does not deserve the hero tittle for accepting defeat in the just concluded presidential poll.

DAILY POST reports Jonathan, before the INEC chairman could announce the final result of last Saturday’s presidential election, had called General Buhari to congratulate him for winning the election.

Following his decision, many Nigerians have been praising the president for saving the entire nation from disaster.

However, Ezekwesili says if only Nigerians knew the extent of damage President Jonathan has done to Nigeria, they won’t hero worship him.

She took to her Twitter page on Thursday, to air her views on the recently held presidential election.

She tweeted: “When a review of President Jonathan’s administration is done, we’ll realize how much damage sycophancy did to governance. Example? Chibok Girls,” she wrote.

“A leader must be without an inordinate desire to be serenaded with ‘good news’ or their team will never let them know the true state of affairs.

“An environment that rewards sycophancy encourages team to withhold accurate ‘bad’ news (problems) from the leader while serving up ‘good news’.

” When a leader makes hero worshiping costly to those who engage in it, he/she deprives the ‘sellers’ market to set the ‘Mediocrity Benchmark.’

“A critical success factor in governance is for the leader to both in word and deed convey a culture that abhors sycophancy. No hero worshiping.”

Source: http://dailypost.ng/2015/04/03/jonathan-is-not-a-hero-oby-ezekwesili/

With all due respect Madam Oby, who asked your opinion on this matter? Why are you just bent on soiling your name and ruining whatever is left of your fading image. Why not hold on to the Chibok campaign, atleast it still hovers your name in the media and keeps it from going into 'extinction'.

If you are not blinded by your hate for Jonathan, you would atleast see the volatility of your remark. Jonathan has towed the unpopular path of conceding defeat much to the chagrin of his die-hard supporters and even enemies of the populace and you run your mouth amok to utter the gibberish you just did. Mind you, the challenge with the card reader during the accreditation is enough to have caused disruption of the elections but for his calm disposition and his comments especially giving his party's position on the use of card readers, let alone his phone call and unprecedented concession of defeat.

Please madam, keep your opinion to your self next time and stop making divisive statements capable of engulfing the nation in war and your type will board the next available flight out of this country leaving innocent and helpless Nigerians to bear the brunt of your nonsensical, irresponsible and highly unnecessary comments.

Dragonking:
http://www.elombah.com/index.php/entertainment-news/31215-breaking-senate-president-david-mark-loses-senate-seat

cc: lalasticalala , mynd44, ishilove, seun

David Mark loses...liesssss

JONATHAN'S GOVERNMENT IS CORRUPT -THEY WANT CHANGE 

1. Obasanjo’s government spent $16bn for power, and only achieved to change the name of NEPA to PHCN, yet some people and Obasanjo says Jonathan’s Government is corrupt. 

2. Obasanjo’s government, Olusegun Obasanjo and Atiku Abubakar were involved in a $180m Hallibuton bribery scam that made world news, Yet Obasanjo says Jonathan’s Government is corrupt. 

3. Obasanjo’s government, Obasanjo and Atiku spent about N1tn with Siemens for the production of National ID Card, with a N34bn bribery scam. I am yet to get mine, Yet Obasanjo says Jonathan is corrupt. 

4. Bola Ahmed Tinubu used Babatunde Fashola to build 1 kilometer of road for N1.2bn, while Akpabio builds same for N120m. Yet Tinubu and Fashola says Jonathan is corrupt. 

5. Bola Tinubu and Fashola spent $460 million (N55 billion at  the 2009 exchange rate of N118/$1) of tax payer’s money in the name of Lekki-Epe Concession Company (LCC) to build a toll gate, and yet taxed Lagosians even after claiming to buy back the concession, for using the road with no records, Yet Tinubu, Fashola and Obasanjo says Jonathan is corrupt. 

6. Buhari delegated all powers to Afri-Project Consortium (APC), a consulting firm owned by his Wife’s brother, which allowed his Inlaw’s firm to Initiate all projects for the PTF, Approve all projects for the PTF and Execute all projects for the PTF. APC was able to make away with N25,758,532,444 (Twenty-five billion, seven hundred and fifty-eight million, five hundred and thirty-two thousand, four hundred and fourty-four Naira). Buhari says he did not know. Yet Buhari, Tinubu claims Jonathan is corrupt. 

7. Rotimi Ameachi spent N50bn to build a 2Km monorail that is yet to be completed. And Ameachi, Tinubu, Buhari says Jonathan is corrupt.

iamphilips:
Hello nairalanders, good day. Came here to share my experience today being 8/1/15.

I have this neighbour who sells foodstuffs. She travelled for new year so she instructed her relation who sells for her to pay in the money(about 130k) she made since monday into her Diamond bank account...

I was in the banking hall- Diamond Bank warehouse branch, Apapa- when she walked in with the money in her bag. When filling her teller, someone asked her if she was paying in and she said yes. She later joined the long queue.

After thirty seconds, a young man dressed in corporate suit (pretending to be a cashier) came close to her and asked for people who are paying above 100k. About five people stepped out and followed him a few meters away.

He collected their money and teller and asked them to wait on the line so he can go in and stamp their teller.....

Like play like play, the man left. They were waiting not knowing that he had left the banking hall with their over 650,000 naira.

It was later that they reported, the bank manager even came down.......he checked the cctv footage and behold, the gentle man in suit was neither a cashier nor a worker in the bank.

Just like that, he stole over 650k. The security guard said it was the third time it was happening in that branch...my fellow nairalanders, BEWARE!!!

Need ya'll contribution and thoughts on this. Pls our Mods should share this story so as to avoid others falling victims. Thanks.

People should be more vigilant and alert in banking halls. I must state here that this has always been happening and it is not new at all. Ensure you deal only with staff behind the counter or at least a staff on ID card except if you have been seeing them in the branch before.

Branch Management also has to be vigilant to protect unsuspecting customers

http://www.naijabankers.com/viewtopic.php?f=3&t=662#p791

The difficult regulatory environment, which is due to take toll on the financial sector this year, has forced a number of banks to commence the process of cutting jobs and put on hold branch expansion plans.

While some of the banks laid off some workers late last year, it was learnt that most of the lenders were planning to cut their employees’ numbers this month and in February.

Our correspondent gathered that some of the financial institutions were already outsourcing a number of job functions, a development that has seen some of them transfer a significant number of their employees to third-party companies.

Just last week, Skye Bank Plc announced that it had transferred its tellers, drivers, security personnel and other support staff members to three outsourcing firms.

Hundreds of the bank’s workers are said to have been affected by the development.

The decision, which came less than one week into the New Year, led to the disengagement of the affected employees from the bank and their subsequent transfer to third-party firms.

Skye Bank, however, said in a statement on Sunday that the move was part of the initiatives to strengthen all cadres of its workforce.

According to the statement, the outsourcing companies appointed to take over the employees are Optimum Continental Services, Strategic Outsourcing Limited and Integrated Corporate Services Limited.

The bank gave the assurance that the outsourcing firms would engage the affected employees under the same terms and conditions as they were employed by the financial institution.

Investigation by our correspondent showed that the decision of the banks to reduce their workforce and branches was meant to assist them to cut costs in the face of a looming decline in their profitability this year.

A top official of one of the major lenders, who prefer to speak under condition of anonymity, said, “Some banks have laid off a few workers; others are planning to do so. Some will engage more contract staff. All the measures are aimed at cutting costs because the banking business environment is increasingly becoming challenging.”

He added that Nigerian banks had the tradition of sacking some workers at the end of each year.

Unity Bank Plc had in July last year announced the disengagement of 170 of its workers as part of efforts aimed at repositioning it for effective service delivery.

The bank also stated that it had recruited over 300 new members of staff, mostly at the entry level.

Zenith Bank Plc, Union Bank of Nigeria Plc, Diamond Bank Plc, Enterprise Bank Limited and Keystone Bank Limited had in the last two years sacked hundreds of their workers.

Findings revealed that the latest threat of disengagement had to do with the need to realign for their operations for tougher 2015, especially as the monetary policy environment continues to get tighter.

Some of the regulatory measures introduced by the Central Bank of Nigeria aimed at protecting the economy, according to findings, have started affecting the banks’ profitability, with major impact to be felt this year

It was learnt that apart from job cuts, the banks were also planning to reduce the number of new branches to be opened this year.

Other major projects and sponsorship programmes for third-party companies, which may not readily add to the bottom line, are also due to be axed by bank executives.

Global rating agency, Fitch Ratings, and other international and local research firms had late last year predicted that Nigerian banks would witness a fall in profitability this year.

On November 25, 2014, the CBN’s Monetary Policy Committee devalued the naira by eight per cent; raised Monetary Policy Rate from 12 to 13 per cent; and also increased the private sector Cash Reserve Requirement from 15 to 20 per cent.

The development, which led to the immediate withdrawal of about N500bn from the banking system, was said to have affected the banks adversely.

Also, in a bid to halt the sliding naira, the CBN had in December stopped the banks from keeping any of their funds in foreign currencies. It also said dollars bought from it must be utilised within 48 hours, adding that the actions were aimed at stopping the banks from speculating on the exchange rate.

Experts said the recent regulatory measures would have major negative effects on the banks this year, adding that they were already feeling the effects of previous actions by the CBN, especially the increase in public sector CRR, the Asset Management Corporation of Nigeria’s levy increase, and the gradual removal of certain bank charges.

The Managing Director, HighCap Investment and Securities, Mr. David Adonri, said although banks had been affected by previous regulatory measures, the recent actions of the CBN would further affect their operations beginning from the first quarter of this year.

“A number of banks will declare good year-end results for the last financial year. But starting from the first quarter of this year, their profits may begin to decline owing to some of these regulatory headwinds,” Adonri said.

Fitch, in a report released on October 8, 2014, said actions aimed at protecting the economy and the banking system by the CBN would make the profits of the Deposit Money Banks for this year to drop.

While recalling that some of the previous regulatory headwinds had led to weaker profitability and “stemmed credit growth” in the first half of 2014, the rating agency said Nigerian banks’ assets growth and earnings would experience further fall over the next 18 months.

Fitch, however, observed that the nation’s banks were performing well despite the twin hurdles of tight monetary policy actions and new rules.

The CBN had in July 2013 increased the CRR on public sector deposits to 75 per cent from 12 per cent in order to curb inflation.

It also reduced how much the banks could charge accountholders whenever they withdrew money as part of its plans to phase out the Commission on Turnover charges.

AMCON had similarly raised its annual levy on the banks to 0.5 per cent from 0.3 per cent of their assets.

According to Fitch, the AMCON levy and network expansion strategies have made the banks to experience earnings pressure and high operating costs.

The Fitch report added that “the banks are now seeing some asset quality deterioration with rising absolute non-performing loans, reflecting fast loan growth since 2011.

“Most banks’ NPL ratios remain below the five per cent prescribed by the CBN, but Fitch views this as unsustainable in the long-run. Very high loan concentrations by borrowers and sectors expose banks, particularly the smaller banks, to significant event risk

Wrong time to effect this in my own opinion. You are just going to stifle banks' income and push them to laying off their staff earlier than necessary.

Group Managing Director and Chief Executive Officer, Diamond Bank, Dr. Alex Otti

The Group Managing Director and Chief Executive Officer, Diamond Bank Plc, Dr. Alex Otti, has resigned from the bank.

The bank said in a statement on Friday that following Otti’s voluntary resignation, Mr. Uzoma Dozie, was appointed to succeed him.

Dozie’s appointment, according to the bank, is however subject to the approval of the Central Bank of Nigeria.

The statement obtained by Saturday PUNCH, stated that the Chairman of the Board of Directors, Diamond Bank, who is also the Obi of Onitsha, Igwe Nnaemeka Achebe, announced the changes in management.

Achebe, who expressed satisfaction with Otti’s contribution to the growth of the bank, described his career as outstanding.

“Dr. Alex Otti is a fine gentleman with an outstanding career in the Nigerian banking industry. We are pleased with the time he spent at the helm of affairs of Diamond Bank Plc and wish him every success in his future endeavours,” the Diamond Bank Chairman was quoted as saying.

The statement explained that under Otti’s stewardship, the bank made remarkable return to profitability and had continued to record impressive growth across all performance indicators year-on-year.

For example, it said after writing off toxic risk assets, which resulted in the loss of N16bn in 2011, the bank posted a profit before tax of N28.36bn in 2012 and N32.5bn in 2013 and also saw its total assets rise from N564.9bn in February 2011 to N1.18tn by December 31, 2012 and N1.52tn on December 31, 2013.

Otti was also credited with growing the bank from a network of 210 branches in 2011 to over 265 branches in 2014.

Among several changes, Otti created the office of the Chief Risk Officer and designated an Executive Director to head the department, the statement said.

It added, “He also spearheaded the expansion of the bank by doubling the full staff count from around 2,000 in 2010 to over 4,000 as at mid-2014 even as he vigorously grew the bank’s footprints from a network of 210 branches in 2011 to over 265 branches three years later.

“It was also under his watch that the bank established an international subsidiary in the United Kingdom, in addition to expansion in Francophone West Africa (Senegal, Togo, and Ivory Coast).”

Prior to his appointment as the GMD/CEO of Diamond Bank Plc in March 2011, Otti had worked with many financial institutions in various capacities, the statement said.

http://www.punchng.com/business/otti-resigns-as-diamond-bank-gmd-ceo/

http://naijabankers.com/viewtopic.php?f=3&t=278

Rate them on what basis? Popularity? Asset size? Profitability/earnings? Customer appreciation?

They are all being done and will be published in due time.

The aim is to wrest financial info apathy and improve financial literacy in order to increase financial inclusion in the land.

Thought this would make front page o? Do they pay to get on front page?

Banks Entry Level Take Home Pay

by sogie » Sun Oct 19, 2014 12:43 am

An informal survey conducted by naijabankers.com as at September 2014 revealed that commercial banks have increasingly become the popular destination for Nigerian job seekers. This may not be unconnected with the unavailability or limited choice jobs in the Oil & Gas firms, Telcos,IT firms to mention a few. However, some believe it is because of the relatively huge pay they dole out to their staff. This prompted a peep into the monthly take home pay for fresh graduates in some banks. 

For emphasis, the figures here are not authoritative as they were not from official quarters, they were sourced from staffers of the different banks in anonymity, hence, your discretion is advised. Also note that the figures quoted here are just the monthly net take home pay excluding the quarterly allowance, bonus, upfronts, leave allowance and 13th months allowance some of them are still entitled to, which are not necessarily in the order of the amounts paid monthly. Therefore, this does not seek to rank the banks in terms of remuneration to fresh graduates as it does not give the full picture of the total packages but just an idea. Once again, this is not authoritative, hence be advised of your discretion.

Feel free to disagree but state the actual figure to back it up. As we hope to conduct other surveys subsequently.


Bank Entry Level/ Month

Diamond Bank - Around 240k

Access Bank - Around 237k

GT Bank -Around 200k

Wema Bank- Around 178k

Heritage Bank - Around 162K

Union Bank - Around 160K

UBA - Around 150K (ETOP)

Ecobank - Around 150K

Skye Bank - Around 135K

Keystone Bank -Around 128K

First Bank -Around 110K

Zenith Bank -Around 102k

Fidelity Bank -Around 100k

FCMB -Around 80K

Micro Finance Banks - Around 80K


http://www.naijabankers.com/viewtopic.php?f=3&t=242

News just breaking on Inspiration FM 92.3 has it that some of the Chibok girls have been released.

Details later!

USA: MOTHER GIVES BIRTH TO 17 BABIES AT ONCE!January 20th, 2014

465184950

Indianapolis| An American woman has totally annihilated the former World Record for the most babies in a lone pregnancy by giving birth to seventeen babies over 29 hours last weekend at the Indianapolis Memorial Hospital.

“It was incredible” explains Dr. Jack Morrow who assisted the woman through the whole operation.” The babies kept coming and coming and coming and coming…  Man! I think I’m gonna have nightmares about this day for a long time! This was my last delivery!” he adds in disgust.

Catherine Bridges and her husband had been trying to have a child for many years and had decided last year to use medical assistance from a fertility clinic in Rhodes Island. The insemination process was definitely successful, as the couple got an entire litter of seventeen beautiful and identical boys.

The couple has already chosen the names for the boys with an obvious continuity of thought: James, Jacob, Jarod, Jarvis, Jason, Jeffrey, Jeremy, Jerome, Jesse, Jimmy, Joachim, Jonathan, Jonas, Joseph, Julian, Jimbo and surprisingly, Darth Porkinus.

- See more at: http://worldnewsdailyreport.com/usa-mother-gives-birth-to-17-babies-at-once/#sthash.YrBxmFFj.dpuf

But shouldn't the drug be clinically proven here first before dismissing it on the basis of the assertion of 'the almighty slave masters'.

Common sense should tell us that America will forever want us under their footstool, hence the need to reduce our dependency on them.

I do not actually expect them to just start administering the drugs without subjecting it to test in the first place, but outright dismissal...this beats me.

The so called Zmapp that could not save the Spanish priest and America has refused sending is what we will rather wait for and watch the patients die one after the other abi?

one thing even surprises me. Isn't this ebola scourge a national pandemic? So shouldn't it be within the federal government jurisdiction? why should the state govt stop the fed govt from carrying on with the administration of those drugs? Just asking sha...

It is well with us!

May God grant the infected people miraculous recovery!!

Travel Alert –New-Measures for Ebola in Zambia.
This Travel Notification was brought to you by American Express Travel Services Nigeria
Kenya airways have advised of a new directive received. The Zambian Government has issued a circular to regulate travelers between Zambia and West Africa -listing Guinea, Liberia, Sierra Leon and Nigeria as affected countries.
They have therefore been asked with immediate effect to avail the health inspectorate at the airports (KKIA, SMKIA and HMKIA), an indication of how many passengers on our flights are coming from the West African states. These will be quarantined for 30 days before being allowed entry into Zambia. They also require passengers to fill in attached forms, to be given to Immigration before processing their passports.
There is therefore need to advise all passengers travelling from West Africa into Zambia, that they will be quarantined for 30 days before being allowed entry into Zambia.

www.naijabankers.com

Congrats Yaya....well deserved...Mikel tried tho...buh Yaya is undoubtedly the King of African footballers.

Ess: No be only source...the Jonathan lappies are scared for their oga to try such a suicidal act!

Every distateful comment 2 ur APC masters does not have 2 be credited 2 GEJ apologists. Mind you, the crisis is hinged on a tripod. On one end is the PDP, the other is ur power craving n desperate APC n lastly the masses. I wld av claimed 2 be neutral but I guess saying I go with the masses is more appropriate.

As far as I'm concerned, APC isn't any better than the PDP. You will soon have your share of internal wranglings...its will soon implode just like what is happening in PDP now and I hope in your case, you are able to resolve it.

Nairalanders...did u guys bother 2 check out the source of this propaganda? Nations!!! I hiss in japanese...media outfits owned by APC goons will always dish out fake news to discredit GEJ at all cost!

Please do well to check out the sources of the news you stumble on to see if its even worth reading at all let alone reacting to.

Please enough of this "oga @ d top" malady. It's sickening seeing it everywhere now. The message has long been passed. Continuous reminder of it could just lead 2 some fatal outcome and then we will all start feigning regret as usual.
There's a BC on BBM now on the hardship and embarrassment this has caused the nuclear family, yet we don't wanna quit talking about it until it leads 2 suicide, maybe that's when we will stop.
Please for his wife and children's sake. Let's die this matter.

Erhuvwu1: Sullivan Chime jux passed on. Watz happening?

I just heard too...though unconfirmed. I hope it turns out just a rumour. We don't want more news on deaths pls!

What has stripping him of his clothes got to do with his offence?

Ohh...just read that the Falcons may not qualify if they lose their last group stage match by a wide margin...so here's wishing them atleast a draw to guarantee top position from the group

Wolexis: http://premiumtimesng.com/sports/105569-african-women-championship-super-falcons-beat-ethiopia.html
www.wolexis..com

I don't think they even need the third victory to advance to the quarter finals having won their previous 2 matches.
Congrats ladies! Naija will always be proud of ya.

[quote author=gree-die]Op, take time to read and really understand the comments here.
We all agree that you are a lucky guy who doesnt know just how lucky you are. You have a diamond and you want silver?

The intensity of her love is scary right? And you are having doubts because in your opinion, a guy should love a girl more, be ready to move the earth for her not the other way round?

Sweetie there is absolutely nothing wrong if she loves you more, imo, it will even be better for you marriage. It has been said dat women are the ones that build the home, cant you see how your marriage and home will be the envy of all if you make this lady who is willing to trek to hell and back for you your wife?

Like Rocktation, ceaseless etc wrote, marriage isnt all about love. Compatibility, understanding, similar goals, friendship etc keeps it going long after the euphoria of being in love comes to an end. Does she have these qualities?

I wont advice you to marry her if you dont love her atall but i doubt you dont. You care for her, you do not want her to be heartbroken, these are synonymous wit love. You love her enought that the thought of hurting her is unbearable to you.

Think deeply, prioritize, this might just be you having cold feet. I hope you make d right decision and i hope you realise that ur fiancee is one of a kind. There are very few girls like her in nigeria who love deeply and truely, very very few girls.[/quote]Just like ur user I'd connotes...I really can't agree with you anyless...You hit the bulls eye with every dart of word you typed here. Thanks a bunch.
I'm really appreciative of all the comments made here. The swayings just corroborate the dilemma and suggest it is indeed dicey. Like I revealed before...I so much care about her though not sure I can call it love. The superfluous dote she chokes me with is what I'm sure I can't get elsewhere. I pray God gives me the wisdom to do the right thing at the end of the day.
Thank y'all for dropping by.

Thanks guys...I appreciate your contributions!