₦airaland Forum

You guys should open your eyes and see what is happening. I heard from some of my guys that Tunde Lemo, CBN deputy governor and former Wema MD committed a lot of atrocities like falsifying profit figures and giving out huge loans(of about 8 billion naira without following due process. Word is that Bisi was on the verge of exposing Him and he was afraid of Him. Also a close friend of mine who works in Wema told me that our Adebisi stepped on the toes of some powerful men that were bent on buying the bank for peanuts men. Also other Md's have houses worth over 1 billion and it represents their banks . Meanwhile, brother Bisi asked for 300 million and was given 450 by the board. Read this from the TribuneTRIBUNE

Wema Bank Crisis: Real Reasons Why Omoyeni Was Removed
Martin Ayankola, Lagos - 26.01.2008

When Adebisi Omoyeni, the Managing Director of Wema Bank Plc, was asked to proceed on compulsory leave by the Nigerian Deposit Insurance Corporation (NDIC), it was the climax of a crisis that had been brewing in the bank for some time.

Although NDIC sent him on leave for an alleged insider loan of over N400 million, it was gathered that the reason for his exit was much more than that.

Omoyeni was said to have been against the planned acquisition of the bank by another new generation bank, owned by a personality from the South-West.

This, it was learnt, put him on collision course with some powerful interests within the Central Bank of Nigeria (CBN) who are actually interested in the acquisition of the Odua Investment Company's shares in Wema, by the said new generation bank.

In fact, the said bank had on January 4, 2007 written to the Group Managing Director of O'odua Investment Company stating its interest in acquiring the shares.

The bank said in the letter, "We have a passion to protect and sustain one of the heritages of our forefathers, Wema bank Plc, so that our people of the South-West, are not deprived of this heritage.

"Specifically, our interest is to prevent other people who may not be interested in protecting this common heritage from getting hold of these shares.

"We will guarantee that Wema Bank Plc is in safe hands of professional bankers with impeccable track records in banking and not just mere investors.

"If given the opportunity to acquire these shares, we shall be in regular consultations with the respective governors of the owner states and the board of O'dua Investment Limited, a process which we have already embarked upon."

The Chairman of the Board of Directors of Wema Bank, Alhaji Olapade Muhammad, and Omoyeni are said to be against this planned acquisition and thus have been fighting against it since.

Muhammad, in a letter to former President Olusegun Obasanjo on the issue on January 22, 2007, said a key officer in the CBN had been undermining the interest of the bank

You guys should open your eyes and see what is happening. I heard from some of my guys that Tunde Lemo, CBN deputy governor and former Wema MD committed a lot of atrocities like falsifying profit figures and giving out huge loans(of about 8 billion naira without following due process. Word is that Bisi was on the verge of exposing Him and he was afraid of Him. Also a close friend of mine who works in Wema told me that our Adebisi stepped on the toes of some powerful men that were bent on buying the bank for peanuts men. Also other Md's have houses worth over 1 billion and it represents their banks . Meanwhile, brother Bisi asked for 300 million and was given 450 by the board. Read this from the TribuneTRIBUNE

Wema Bank Crisis: Real Reasons Why Omoyeni Was Removed
Martin Ayankola, Lagos - 26.01.2008

When Adebisi Omoyeni, the Managing Director of Wema Bank Plc, was asked to proceed on compulsory leave by the Nigerian Deposit Insurance Corporation (NDIC), it was the climax of a crisis that had been brewing in the bank for some time.

Although NDIC sent him on leave for an alleged insider loan of over N400 million, it was gathered that the reason for his exit was much more than that.

Omoyeni was said to have been against the planned acquisition of the bank by another new generation bank, owned by a personality from the South-West.

This, it was learnt, put him on collision course with some powerful interests within the Central Bank of Nigeria (CBN) who are actually interested in the acquisition of the Odua Investment Company's shares in Wema, by the said new generation bank.

In fact, the said bank had on January 4, 2007 written to the Group Managing Director of O'odua Investment Company stating its interest in acquiring the shares.

The bank said in the letter, "We have a passion to protect and sustain one of the heritages of our forefathers, Wema bank Plc, so that our people of the South-West, are not deprived of this heritage.

"Specifically, our interest is to prevent other people who may not be interested in protecting this common heritage from getting hold of these shares.

"We will guarantee that Wema Bank Plc is in safe hands of professional bankers with impeccable track records in banking and not just mere investors.

"If given the opportunity to acquire these shares, we shall be in regular consultations with the respective governors of the owner states and the board of O'dua Investment Limited, a process which we have already embarked upon."

The Chairman of the Board of Directors of Wema Bank, Alhaji Olapade Mohammed, and Omoyeni are said to be against this planned acquisition and thus have been fighting against it since.

Mohammed, in a letter to former President Olusegun Obasanjo on the issue on January 22, 2007, said a key officer in the CBN had been undermining the interest of the bank