₦airaland Forum

SEE VIDEO of how Skye Bank Plc and its subsidiary, Skye Trustees Limited led by its Managing Director, Mr. Tokunbo Abiru through its agent, Lekki Estate and Gardens Limited demolished 212 houses in Lagos leaving over 3000 people homeless.

Recall, the bank and its subsidiary on Thursday, July 26th 2018 visited hardship on the Glorious Villa Community in Ibeju Lekki Local Government Area of Lagos State which housed over 3000 inhabitants when they demolished the properties.

THE WITNESS shall keep you posted with more videos and information on the illegal demolition as event unfold.

WATCH VIDEO HERE: http://witnessngr.com/watch-video-of-how-skye-bank-demolished-212-houses-in-lagos-rendered-over-3000-people-homeless/

he Peoples Democratic Party, PDP, in Kogi State is gradually driving itself into fresh crisis following sinister moves by a former governor of the state, Alhaji Ibrahim Idris to impose his family members and aides as candidates on the electorates.

News filtering out indicates that Alhaji Idris, who is also the leader of the party in Kogi State has perfected plans to install his sons, aide as the sole candidates to fly the flag of the party during the 2019 general elections. This is coming barely a few weeks to the PDP primaries, making any plans to hold the primaries a mere formality.

As it stands, mass defection is imminent in the state as the party leader has vowed to impose his son, Abubakar Idris as the governorship candidate and Mohammed Audu as Kogi East Senatorial District candidate of the party. Mohammed Audu is son of the late Abubakar Audu, another former governor of the state and the All Progressives Congress, APC, candidate in the November 2015 gubernatorial election in the state.

Another of Alhaji Idris’ son, Mohammed, is said to be vying for the House of Representatives again. Interestingly, Mohammed was a House of Reps member while the father was governor of the state. He (Mohammed) lost the primary election in his second attempt despite the fact his father was a sitting governor showing Alhaji Idris’ growing unpopularity.

Some respected stakeholders of the PDP in the state are already crying blue murder, describing Alhaji Idris’ moves as a wicked plot to run the party aground in that the rival All Progressives Congress is waiting in the wings to poach all the key leaders who are piqued by this new development. The sinister arrangement, according to them, is without regard or respect for other party stakeholders.

One of the party leaders who does not want his name mentioned said, “We are all aware of Alhaji Idris’ underground moves, but I can assure you it won’t stand. PDP is not a family business as such he cannot run the party as his own.”

“We will block any attempts to make the party a one-man business in Kogi State. If it succeeds, we will all move to another party where they consider us useful.”

“Alhaji Idris is one of those who destroyed the party this much. I think enough is enough.”

However, our reporter was informed that Alhaji Idris has sworn that he would withdraw all financial supports from the party if he does not have his way, and that is, seeing his candidates bear the party flags in the respective positions.

Recall that Mohammed Audu, who is being positioned to fly the Kogi East Senatorial District flag of the PDP was accused recently by the police of breeding political thugs alongside the senator representing Kogi West, Senator Dino Melaye ahead of the 2019 general elections. Two political thugs paraded in Lokoja, the Kogi State capital by the Nigeria police had named Dino Melaye and Mohammed Audu as their major sponsors.

An aggrieved party source said: “Can you imagine that, Mohammed Audu who is coming in to the party with a lot of baggage, that guy is not worth anything in Igalaland again. His father even kept him a bay when he was alive.”

“Mohammed has so many cases against him including that of gun running; Is that the kind of character the PDP should be romancing? I thought the leadership of the party have learnt their lessons from the last defeat and would need a breathe of fresh air to propel the fortunes of the party.” The source squealed.

READ MORE HERE: http://witnessngr.com/kogi-pdp-primaries-crisis-rocks-party-as-ibrahim-idris-imposes-sons-aides-as-candidates/

… Victims petition IGP, demand N10 billion as monetary compensation



Skye Bank Plc and its subsidiary, Skye Trustees Limited are currently enmeshed in fresh controversy following the demolition of more than 200 houses at the instance of the two organisations in Lagos, THE WITNESS reports.

While the President Muhammadu Buhari administration is striving so hard to achieve its target of delivering affordable housing to the people, the Tokunbo Abiru-led financial institution and its subsidiary on Thursday, July 26th 2018 visited hardship on the Glorious Villa Community in Ibeju Lekki Local Government Area of Lagos State which housed over 3000 inhabitants when they demolished the properties.

THE WITNESS reliably learnt that trouble started when Skye Bank was discreetly sold a large expanse of land allegedly belonging to about 55 families by four of the families in Abule Parapo Phase 2, Awoyaya area of Ibeju Lekki.

It was further gathered that after winning the land dispute case from initial land grabbers, another set of family unit had three years earlier sold some plots located behind the famous Greenspring International School for the sum of N1.5 million each to the occupants who are now homeless after the destruction which gave them no chance to salvage their belongings.

Unknown to these family units, the four family units had also obtained a court judgment behind the scene and went ahead to sell the entire 200.184 hectares of land plus the court judgment to Skye Bank and Skye Trustees Limited which rushed to the Lagos State government through high-powered officers for the authentication of the lands in their company name.

Skye Bank, THE WITNESS learnt, reached out to the lawyers of the property owners to come over for ratification and demanded that they should pay sums of money ranging between N4 million and N8 million for the ratification of each of the plots in contention.

The property owners had suggested further negotiation and had reached a compromise with the bank, but Skye Bank allegedly went ahead with the demolition of the properties with the backing of about 300 armed operatives from various security outfits that harassed the residents and seized their belongings including phones and cameras.

READ MORE HERE: http://witnessngr.com/how-skye-bank-demolished-212-houses-in-lagos-rendered-over-3000-people-homeless/

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… Victims petition IGP, demand N10 billion as monetary compensation



Skye Bank Plc and its subsidiary, Skye Trustees Limited are currently enmeshed in fresh controversy following the demolition of more than 200 houses at the instance of the two organisations in Lagos, THE WITNESS reports.

While the President Muhammadu Buhari administration is striving so hard to achieve its target of delivering affordable housing to the people, the Tokunbo Abiru-led financial institution and its subsidiary on Thursday, July 26th 2018 visited hardship on the Glorious Villa Community in Ibeju Lekki Local Government Area of Lagos State which housed over 3000 inhabitants when they demolished the properties.

THE WITNESS reliably learnt that trouble started when Skye Bank was discreetly sold a large expanse of land allegedly belonging to about 55 families by four of the families in Abule Parapo Phase 2, Awoyaya area of Ibeju Lekki.

It was further gathered that after winning the land dispute case from initial land grabbers, another set of family unit had three years earlier sold some plots located behind the famous Greenspring International School for the sum of N1.5 million each to the occupants who are now homeless after the destruction which gave them no chance to salvage their belongings.

Unknown to these family units, the four family units had also obtained a court judgment behind the scene and went ahead to sell the entire 200.184 hectares of land plus the court judgment to Skye Bank and Skye Trustees Limited which rushed to the Lagos State government through high-powered officers for the authentication of the lands in their company name.

Skye Bank, THE WITNESS learnt, reached out to the lawyers of the property owners to come over for ratification and demanded that they should pay sums of money ranging between N4 million and N8 million for the ratification of each of the plots in contention.

The property owners had suggested further negotiation and had reached a compromise with the bank, but Skye Bank allegedly went ahead with the demolition of the properties with the backing of about 300 armed operatives from various security outfits that harassed the residents and seized their belongings including phones and cameras.

READ MORE HERE: http://witnessngr.com/how-skye-bank-demolished-212-houses-in-lagos-rendered-over-3000-people-homeless/

A three-storey shopping complex under construction in the Jabi area of Abuja has collapsed killing two persons and leaving over 10 others trapped.

THE WITNESS gathered that the incident occurred at 1:30pm on Friday.

A witness said children and food hawkers were among those trapped in the building.

At the time of filing this report,


READ MORE HERE: http://witnessngr.com/two-die-over-10-trapped-as-three-storey-building-collapses-in-abuja-photos/

By: Felix Onajite

Since the financial crisis that enveloped the global market a decade ago, the profitability and reputation of banks has been under tremendous pressure worldwide, Nigeria inclusive. Whilst the banking industry is now regaining its health, the entrant of fintechs and neo-banks in the industry is posing a new threat. This digital disruption is changing the traditional way through which customers obtain financial services, hence putting more pressure on banks’ profitability.

However, a bank in Nigeria, Keystone Bank Ltd, is challenging the status quo by making transformation and profitability appear like a mere walk over as revealed in its achievements within a short time span. From the perspective of the results on ground, it appears to be a great time for Keystone Bank. In just one year of AMCON’s divestment, the bank has changed its narrative from “one of those banks” to a financial institution to be reckoned with and as a result is experiencing an influx of business minded customers.

Keystone Bank’s ambitious and holistic transformations have taken industry watchers by surprise, and the industry itself by storm. Besides the revamping of its branches across the nation and bolstering its workforce, it has invested substantially in technology and developed fully integrated service models that enable its customers enjoy banking services through a wide range of channels.

The bank’s journey to reckoning had been long and winding, which necessitated a takeover by the Asset Management Company of Nigeria (AMCON) in 2011.

However, its acquisition by Sigma Golf – Riverbank consortium seemed to trigger a turnaround as it precipitated a change in the management team to the one that holds the magic wand for the positive outlook it has been experiencing to date

On taking over, the new management team led by its Group Managing Director/CEO Mr. Obeahon Ohiwerei drew up a holistic and integrated approach to business modernization which elevated the bank to deliver a superior customer-centric experience. The impact of this change reflected positive results in its Q1 report card, which, from all indications, is a restoration of customers’ trust in its system.

The bank for the half-year ended June 30th, 2018 recorded a profit before tax of N5.83bn, compared to a loss of N6.78bn over the same period in 2017. Deposit grew by 51%, from N206bn to N312bn between June 2017 and June 2018

From evolving technologies to changing customer expectations to new regulatory demands – it has never been more important for banks to come up with the right strategies for digital transformation and innovation; the Ohiwerei team nonetheless made this a reality at Keystone Bank. This entailed initiating partnership processes with foremost technology-enabled concerns to drive its digital revolution.

Its partnership with CeLD Innovations Limited to launch a ground-breaking loyalty reward initiative which involves the gifting of ‘CashToken’, is one of such moves. This innovative gift commodity, Cash Token, which was formally launched in Lagos on Thursday April 19, 2018 at a conference tagged “500 Top CEOs Conference – Unleashing – The Age of Hyper Consumer Centricity, is an electronic reward and celebratory gift commodity which costs only N30.

The initiative, according to CeLD, creates a chance for every customer in Nigeria to win life-changing cash rewards every Friday night on the National CashToken draws which is monitored by Alexander Forbes and audited by Deloitte. This initiative is designed to optimize customer loyalty investment for business, celebratory gift value optimization and public emotional equity for government.

The bank has also launched its revamped mobile banking application upgraded with new and exciting user-friendly features for a more convenient banking experience. Customers can now enjoy many benefits & access self-service options, such as, easy account opening, convenient self- booking and liquidation of fixed deposits, an expanded list of bill-payment options and easy activation of standing instructions & recurrent future payments.

Other notable features of the mobile App are, a “Switch Card ON/OFF option” which allows users to disable their cards temporarily if missing & re-enable at the click of a button, the “Hide Balance Feature” safeguards against third-party viewing and the “Meet Your Relationship Manager Option” allows users to call or email their account officers right within the app.

In addition, the Bank was the first in the sector to introduce the Chat-bot feature called OXYGEN which enables banking on Telegram and Facebook. It guides users through a whole range of desired transactions step-by-step.

Another first from the Bank is the Zero Data Banking feature that enable customers transact on their phones without data. Keystone Bank has remained the only Bank with this feature on its Banking App.

And for the first time in its operations, Keystone Bank also introduced a new SMART number for customer support, this eliminates the need for customers to remember multiple numbers while removing the uncertainty as to which of the lines are actively engaged.

These and many other moves leveraging technology and building a culture of innovation is fast repositioning the bank as a new whiz kid on the banking block, which, according to its group managing director, Mr. Obeahon Ohiwerei is a proof of the hard work and resilience of the board, management and staff of the bank.

Today, Keystone Bank’s branches are fast becoming a hub for transactional activities witnessing a huge footfall of customers trooping in to carry out transactions, open bank accounts and experience the innovative trends that the bank has introduced to its business. This overall experience has also been boosted by the enhancement of staff morale which inherently drives the commitment to serve their customers better.

From the look of unfolding events at Keystone Bank, it’s clear to see that, it’s just a matter of time before the bank starts operating in the first tier again.

– Felix Onajite, a financial analyst writes from Lagos, Nigeria.


READ MORE HERE: http://witnessngr.com/%e2%80%8bkeystone-bank-emerging-whiz-kid-on-the-banking-block/

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A staffer of the Herbert Wigwe's led Access Bank Plc, Kolawole Agboola, has been arraigned at the Tinubu Chief Magistrates’ Court in Lagos Island on a three-count charge of conspiracy, fraud and theft.

THE WITNESS gathered the accused allegedly stole N13.6 million from the accounts of two customers of the Bank.

He however pleaded not guilty to the charges.

The Idimu, Lagos-based 29-year old banker, according to the prosecutor, Sergeant Hafsat Ajibode, committed the offences between October 2017 and March 2018.

The offences contravened Sections 287 (7), 325 and 411 of the Criminal Law of Lagos State, 2015 with Section 287 (7) stipulating seven years imprisonment for offenders.

Ajibode said that the accused withdrew the money from the unnamed Access Bank customers’ accounts by issuing a forged investment certificate to them to conceal his fraudulent activities.


READ MORE HERE: http://witnessngr.com/access-bank-staffer-arraigned-for-stealing-customers-n13-million/

Keystone Bank wins again, clinches “Africa’s Best Customer Service Provider 2018” and “Best Innovation in Retail Banking Nigeria 2018” at the International Banker Awards in London


Keystone Bank Limited, Africa’s most innovative banking service provider shone brightly at the International Banker Awards, 2018 as the lender emerged winner in two categories beating other nominees and carting away the prize for “Africa’s Best Customer Service Provider” and “Nigeria’s Most Innovative Retail Bank of the year, 2018”.

The International Banker Awards is an annual event organized by the renowned International Banker financial magazine, one of the world’s leading sources of authoritative analysis on finance, international banking, and world affairs.

The awards were established to recognize top-ranking individuals and organizations setting new benchmarks for performance and pushing the boundaries within the financial industry. Winners are voted for by the magazine’s readership and a jury comprising financial journalists. They take account of not only growth, liquidity position and profitability of a company, but also innovation, technology, corporate governance, sustainability and transparency.

According to Mr. Simon Hughes of the International Banker Magazine, “we depend on nominations from our readers to locate the worthiest financial institutions around the world, the banks that are not just doing their jobs well but exceptionally well, that are in effect operating on the cutting edge of the industry and setting new levels of performance to which others in the field will aspire”.

“The size of the bank is not as important as the size of its impact; therefore, banks in countries from North and South America, Western and Eastern Europe, Asia and Australia, the Middle East and Africa are recognized for offering what top-of-the-line banks provide: much-needed capital for economic growth, cutting-edge innovation to improve security and efficiency, intelligent investing to maximize profits and shareholder value.”

“And I am happy to announce to you that Keystone Bank has demonstrated these qualities, hence, the recognition”. Hughes said.

Receiving the awards on behalf of the Bank at the London Stock Exchange studio, recently, the Group Managing Director/CEO, Keystone Bank Limited, Mr. Obeahon Ohiwerei, dedicated the feat to the customers, whose loyalty, support and patronage he said has remained the fountain of the bank’s growth and competitive edge in the African continent.

“This recognition speaks volumes. It validates the strong management, staff commitment to service excellence, sound business model and prudent risk management of Keystone Bank” Ohiwerei said.

Ohiwerei further stressed that the awards were a lucid indication that the initiatives being implemented by the Bank particularly as it relates to enhancing service delivery are yielding the desired result.

Since its recent acquisition by Sigma Golf – Riverbank consortium, Keystone Bank, a technology and service-driven commercial bank, offering tailor-made convenient and reliable solutions to customer’s needs has been on upward swing.


READ MORE: http://witnessngr.com/keystone-bank-wins-again-clinches-africas-best-customer-service-provider-2018-and-best-innovation-in-retail-banking-nigeria-2018-at-the-international-bank/

The minister of women affairs and social development, Senator Aisha Alhassan has resigned her position in order to contest the 2019 governorship election.

President Muhammadu Buhari confirmed the resignation in his acceptance of her notification through a letter conveyed to her dated July 27, 2018. Minister for Women Affairs, Asha AlHassan In the letter, however, President Buhari raised a condition of supporting her so long as she vies on the platform of the All Progressives Congress, APC.

Alhassan had famously last September vowed that she would not support Buhari’s second term ambition on the claim that he had promised to serve only one term and that she would only support former Vice President Atiku Abubakar. Abubakar who was at that time in the APC has now defected to the Peoples Democratic Party, PDP.

It was yet unclear yesterday if she would follow Abubakar to the PDP. Alhassan was the candidate of the APC in the 2015 governorship election and lost it by the whiskers.


READ MORE HERE: http://witnessngr.com/breaking-buharis-minister-aisha-alhassan-resigns-may-join-pdp/

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Shareholders of the Uzoma Dozie led Diamond Bank Plc have expressed dissatisfaction over the company’s drop in profit after tax for the period ended June 30, 2018.

During the period, the lender's profit after tax went down by N6.2 billion or 77.6 percent to N1.8 billion from N8 billion, while the profit before tax declined by 69.3 percent from N9.5 billion to N2.9 billion.

However, the gross earnings grew by 0.62 percent to N98.5 billion in H1 2018 from N97.9 billion in H1 2017.

In the analysis of the financial results, the bank, which posted a disappointing full year 2017 results, said its interest and similar went down to N75 billion from N76.5 billion, while the interest and similar expenses shot up to N28.5 billion from N22.5 billion.

In the period under review, the net interest income dropped by 14 percent to N46.5 billion from N54.1 billion, while the impairment charge for credit losses closed at N18.4 billion as at June 30, 2018 against N18.9 billion as at June 30, 2017.

Also, the net interest income after impairment charge for credit losses stood at N28.1 billion versus N35.1 billion, with the fee and commission income at N19.2 billion in contrast to N19.2 billion.

In addition, the fee and commission expense was N4.5 billion against N3.5 billion, while the net fee and commission income stayed at N14.8 billion versus N15.7 billion.

READ MORE HERE: http://witnessngr.com/hy-2018-diamond-bank-shareholders-groan-over-lenders-profit-fall/

Shareholders of the Uzoma Dozie led Diamond Bank Plc have expressed dissatisfaction over the company’s drop in profit after tax for the period ended June 30, 2018.

During the period, the lender's profit after tax went down by N6.2 billion or 77.6 percent to N1.8 billion from N8 billion, while the profit before tax declined by 69.3 percent from N9.5 billion to N2.9 billion.

However, the gross earnings grew by 0.62 percent to N98.5 billion in H1 2018 from N97.9 billion in H1 2017.

In the analysis of the financial results, the bank, which posted a disappointing full year 2017 results, said its interest and similar went down to N75 billion from N76.5 billion, while the interest and similar expenses shot up to N28.5 billion from N22.5 billion.

In the period under review, the net interest income dropped by 14 percent to N46.5 billion from N54.1 billion, while the impairment charge for credit losses closed at N18.4 billion as at June 30, 2018 against N18.9 billion as at June 30, 2017.

Also, the net interest income after impairment charge for credit losses stood at N28.1 billion versus N35.1 billion, with the fee and commission income at N19.2 billion in contrast to N19.2 billion.

In addition, the fee and commission expense was N4.5 billion against N3.5 billion, while the net fee and commission income stayed at N14.8 billion versus N15.7 billion.

READ MORE HERE: http://witnessngr.com/hy-2018-diamond-bank-shareholders-groan-over-lenders-profit-fall/

Alleged abducted Senator representing Kogi West, Senator Dino Melaye has regained his freedom from his alleged abductors.

Senator Melaye who took to his twitter handle @dino_melaye, to announce his freedom said he spent 11 hours in the wilderness. It is not clear what exactly happened or why he was taken to the wilderness by his alleged abductors or even how he regained his freedom but the senator thanked God and Nigerians for letting him escape “dangerous attacks” and for their prayers, respectively. According to him, “I thank God once again for escaping another dangerous attack. I also thank Nigerians for their prayers and show of Love. Spent 11 hours in the wilderness traumatized but God preserved me....


READ MORE HERE: http://witnessngr.com/dino-melaye-regains-freedom-speaks-on-kidnap-ordeal/

Fastest growing financial institution in Nigeria, Keystone Bank Limited, has once again added to its growing list of laurels as the lender recently emerged ‘Africa’s Most Innovative Bank of the Year, 2018’ at the prestigious European Global Banking & Finance Awards held on Friday, July 20, 2018 in London.

The bank chief, Mr. Obeahon Ohiwerei, also clinched the Best Banking CEO in Africa Award.

Organized by the European Global, UK, the European Global Banking & Finance Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community. The awards were created to recognize companies of all sizes which are prominent in particular areas of expertise and excellence within the financial sector in areas such as Europe, Latin America, Africa, MENA, Asia and Central Eastern Europe.

In selecting its recipients, the European Global Banking & Finance Awards combines quantitative and qualitative data to honour institutions, individuals that have brought the highest levels of service, innovation and expertise to their customers.

Keystone Bank and its CEO beat other competitors in Africa to emerge leaders of the continent at the award ceremony.

According to the organizers, “the aim of the award “is to highlight industry wide excellence within the global banking community.”

“Recipients of the European Magazine’s Banking and Finance Awards are scrupulously selected based on thorough interviews specially designed according to subscribers’ feedback.”

“Companies are nominated according to their performance, product offerings, innovative business solutions, work environment / values, and marketing strategies”.

“In this year’s edition, Keystone Bank and its CEO stood tall in the African continent. Therefore, we are recognizing the institution and the bank CEO for the innovative Mobile Banking App and other services introduced by the bank in recent times, targeted towards meeting customer needs.”

On Ohiwerei’s emergence as the ‘Best Banking CEO in Africa’, the organizers said that the Keystone Bank boss was chosen in recognition of his exceptional achievements over the last year, which is seen as an inspiration for business and government leaders working to raise Africa’s investment profile.
The judging panel of the award considered excellent leadership skills, enhanced organizational image and innovation. Since becoming Managing Director of the lender, Ohiwerei has spearheaded a number of growth initiatives which has placed the bank on upward trajectory.

Receiving the awards, the Group Managing Director/CEO of Keystone Bank Limited, Mr. Obeahon Ohiwerei said: “We are honoured to win the ‘Africa’s Most Innovative Bank’ award and to be recognized as the ‘Best Banking CEO’ in Africa.”

“These awards mark another milestone for Keystone Bank and is a testament of the diligent execution of the bank’s strategic initiatives on customer service.”

“Keystone Bank bank will continue to leverage its local knowledge, global exposure as well as presence to drive positive change in Africa, working actively with the government, local businesses, regulators and other stakeholders in deepening financial services.”

“We remain committed to maximizing shareholders’ value and delivering superior and sustainable return, guided by our founding values of Professionalism, Passion, Integrity, Team Spirit, Innovation, Service Excellence, Effective Corporate Governance and Entrepreneurship”. Ohiwerei added.

Keystone Bank is a technology and service-driven commercial bank offering tailor-made convenient and reliable solutions to every customer’s needs.


READ MORE: http://witnessngr.com/%e2%80%8b-keystone-bank-wins-big-at-the-european-global-banking-finance-awards-in-london/


PHOTO CAPTION:
[center]L-R: Mr. Janos Nieddu, Director, Chase Publishing, Mr. Obeahon Ohiwerei, GMD/CEO, Keystone Bank Ltd, Mrs. Omobolanle Osotule, Divisional Head, Marketing & Corporate Communications, Keystone Bank Ltd, Mr. Abubakar Sule, Deputy Managing Director, Keystone Bank Ltd, Mr. Edvaldo Naval, Global Head of Projects, Chase Publishing at the European Global Banking & Finance Awards 2018 where Keystone Bank was conferred with the ‘Most Innovative Bank of the Year Africa 2018 and the GMD/CEO, with the ‘Best Banking CEO 2018, in London, United Kingdom on Friday July 20, 2018.[/center]

One of the third tier financial institutions in Nigeria, Wema Bank Plc is in crisis. This newspaper gathered that the new Managing Director, Ademola Adebise has clampdown on ex-Managing Director, Olusegun Oloketuyi’s loyalist.

Insiders at the bank squealed to us that the new MD is plotting to remove some top bank employees loyal to the former MD and install his own loyalists in their place.

We were told that Ademola Adebise who came to power few weeks ago has already sacked five managers loyal to Olusegun Oloketuyi.

Our sources told us that the new MD is bent on flushing out all those who came from Skye Bank with the former MD.


READ MORE HERE: http://witnessngr.com/fresh-crisis-hits-wema-bank/

Diamond Bank Plc. led by Uzoma Dozie is now at war with the 370 workers that were sacked by the bank with no severance entitlements.

This newspaper learnt that the management of Diamond Bank on 27th of May 2016 at about 5:30am sent an electronic mail to 370 of their member staff to notify them of termination of their appointment, without stating any objective reason. Most of the workers who didn’t receive the termination mail before leaving home to work were caught off guard as they couldn’t access their various work stations and were only able to find out about the termination of their appointment after renting their friend’s phone.

We gathered that the workers took their case to the National Assembly Committee on Public Petitions and the bank’s MD/CEO, Uzoma Dozie was summoned to appear before the committee on January 18th, 2018. Instead of showing up, he sent the Head Human Capital Management of the bank, Mr. Gabriel Nwokeafor to represent him.

Sources said that Mr. Gabriel Nwokeafor told the House Committee that the bank was ready to settle the matter and a meeting was held to that effect at Reiz Hotel, Abuja on January 19th, 2018 between Diamond Bank, its lawyer and seven representatives of the sacked workers alongside their lawyer and the bank agreed to pay the severance/redundancy benefits as computed but on the condition that the loans collected by the ex-workers will be deducted and the balance paid to them.

Be that as it may, we were told that the bank had reneged on that agreement. Besides, Mr. Gabriel on 28th March, 2018 refused to appear before the House Committee instead he sent two lawyers who refuted the agreements he made with the ex-workers and their lawyer on January 19th, 2018 on the ground that the case was still in Court and the sacked workers were asked to withdraw their case from the court.

The ex-workers not fully aware of the implication of their next action, subsequently withdrew the case from Court.

Sources added that Mr. Gabriel on April 24th, 2018 said that he cannot deny knowledge of the agreement he signed with the ex-workers and their lawyer, and the withdrawal of the case in court that there is no way the decision he reached with the sacked workers could be wholly binding as the CEO/MD of the bank was not present at the time. He added that he did not know that the entire decisions at the meeting was been recorded.

But in a statement made available to THE WITNESS on Thursday July 19, 2018, Diamond Bank


READ MORE HERE: http://witnessngr.com/ex-staffers-battle-diamond-bank-over-unpaid-severance-fee/

Leading financial institution in Nigeria, Fidelity Bank Plc has reacted a recent protest by some ex-staff of the bank.

In a statement signed by Mr. Charles Aigbe, Divisional Head, Brand & Communication of Fidelity Bank and made available to The Witness, the lender said that few disengaged drivers of their vendor companies were the masterminds of protests at some of its Lagos offices on Wednesday, and that the bank is not owing staff salaries as has been alleged by the protesters.

“Our attention has been drawn to the demonstrations at some of our business offices in Lagos.

“The actions, aimed at preventing innocent customers from carrying out their banking transactions, are the handiwork of a few disengaged drivers from one of our vendor companies. “

The statement further stressed that the drivers who were hitherto outsourced to the bank have been paid their severance packages and entitlements by their employers.

“For the avoidance of doubt, we state categorically that Fidelity Bank is not owing staff salaries, severance packages or gratuity payments as erroneously being portrayed.

“We are a responsible financial institution, operating in Nigeria and guided by the laws of the land. Whilst we are not against the right to constituted assembly, these actions are clearly unwarranted and obviously misdirected.”

Mr. Aigbe however noted that the bank is initiating legal measures to curtail the harassment.

“We are initiating legal measures to put a stop to this corporate harassment and we urge the relevant authorities, including the Nigerian Police Force (NPF) to note this threat to the conduct of our legitimate business. We are initiating legal measures to put a stop to this corporate harassment and we urge the relevant authorities, including the Nigerian Police Force (NPF) to note this threat to the conduct of our legitimate business.” Aigbe added.

READ MORE: http://witnessngr.com/protests-we-are-not-owing-our-staff-fidelity-bank/

One of the third tier financial institutions in Nigeria, Wema Bank Plc is in crisis. This newspaper gathered that the new Managing Director, Ademola Adebise has clampdown on ex-Managing Director, Olusegun Oloketuyi’s loyalist.

Insiders at the bank squealed to us that the new MD is plotting to remove some top bank employees loyal to the former MD and install his own loyalists in their place.

We were told that Ademola Adebise who came to power few weeks ago has already sacked five managers loyal to Olusegun Oloketuyi.

Our sources told us that the new MD is bent on flushing out all those who came from Skye Bank with the former MD.

READ MORE HERE: http://witnessngr.com/fresh-crisis-hits-wema-bank/

Powerplay

One of the third tier financial institution in Nigeria, Wema Bank Plc is in crisis. This newspaper gathered that the new Managing Director, Ademola Adebise has clampdown on ex-Managing Director, Olusegun Oloketuyi’s loyalist.

Insiders at the bank squealed to us that the new MD is plotting to remove some top bank employees loyal to the former MD and install his own loyalists in their place.

We were told that Ademola Adebise who came to power few weeks ago has already sacked five managers loyal to Olusegun Oloketuyi.

Our sources told us that the new MD is bent on flushing out all those who came from Skye Bank with the former MD.

READ MORE HERE: http://witnessngr.com/fresh-crisis-hits-wema-bank/

The people of Kogi East Senatorial District are in for a brighter future in 2019 and beyond as Dr. Victor Alewo Adoji, renowned technocrat throws the hat in the ring for the 2019 senatorial elections. Dr. Adoji is gearing to represent the senatorial district at the National Assembly. Already, there have been wild excitements everywhere you go as the electorates believe Adoji’s representation will be a sign of good things coming to the senatorial district.

Those spoken to by THE WITNESS said they were already heaving sighs of relief even though he has not yet won the seat, as they believe in the capabilities of Dr. Adoji to turn things around at Kogi East.

Dr. VAA, as he his fondly called, is regarded as a generous man, who has affected many lives both in the state and in other parts of the country. His aspiration to contest for Kogi East Senatorial District of the state is borne out of his zeal to enhance development in the state.

It was gathered that unlike some rich men who spend their money only where business relationships and connections can be fostered, Dr. Victor is noted for his generosity especially to those exposed to the scotching heat of poverty and wretchedness.

A Kogite, who gave his name as Johnson, stated that Dr. Victor gives to those who can hardly afford three-square meals.

“Now what does this mean to a rational Kogite? Of course, it portrays Dr VAA as a true definition of cordial relationship between the rich and the poor, the low and the mighty.

“Victor, as a genuine Christian, understands that whatever God gives him is for the benefit of mankind.

“Apart from these, identifying with the poor and the vulnerable shows his staunch belief and strict adherence to equality.

“He believes that all of us are equal irrespective of religion and social differences,” the Kogite said.

Investigations by THE WITNESS revealed that Dr VAA’s humane formula is a proof that he is a talent hunter, and that he seeks and invests hugely in uncommon, but dying talents among Kogites, particularly those of Igala extraction.


FOR MORE: http://witnessngr.com/2019-kogi-east-rallies-behind-victor-adoji-for-senate/

The campaign organisation of the Peoples Democratic Party (PDP), Kolapo Olusola Campaign Organisation (KOCO), on Thursday alleged that the Federal Government has moved N18 billion cash with bullion vans into Ekiti State through Akure airport with the purpose of allegedly inducing the electorate with the money during Saturday’s poll.

Director, Media and Publicity of KOCO, Lere Olayinka, who spoke to newsmen on behalf of the party, said: “We called you here to intimate the public through your various media organisations of the movement of huge cash by the federal government to Ekiti State for the Saturday election.

“Last week Saturday, two bullion vehicles were moved to the Akure Airport to evacuate cash brought from Abuja by a chartered flight.

“The flight landed when it was raining and all staff of the airport were barred from going near the aircraft while the cash was evacuated into the two bullion vehicles.

“After offloading the huge cash, the bullion van first moved to the Ondo State Government House in Akure from where they left for Isan Ekiti, the hometown of the APC governorship candidate, Dr Kayode Fayemi.


READ MORE HERE: http://witnessngr.com/ekiti-poll-how-fg-moved-n18bn-cash-through-akure-airport-pdp/

The campaign organisation of the Peoples Democratic Party (PDP), Kolapo Olusola Campaign Organisation (KOCO), on Thursday alleged that the Federal Government has moved N18 billion cash with bullion vans into Ekiti State through Akure airport with the purpose of allegedly inducing the electorate with the money during Saturday’s poll.

Director, Media and Publicity of KOCO, Lere Olayinka, who spoke to newsmen on behalf of the party, said: “We called you here to intimate the public through your various media organisations of the movement of huge cash by the federal government to Ekiti State for the Saturday election.

“Last week Saturday, two bullion vehicles were moved to the Akure Airport to evacuate cash brought from Abuja by a chartered flight.

“The flight landed when it was raining and all staff of the airport were barred from going near the aircraft while the cash was evacuated into the two bullion vehicles.

“After offloading the huge cash, the bullion van first moved to the Ondo State Government House in Akure from where they left for Isan Ekiti, the hometown of the APC governorship candidate, Dr Kayode Fayemi.

READ MORE HERE: http://witnessngr.com/ekiti-poll-how-fg-moved-n18bn-cash-through-akure-airport-pdp/

-As financial experts call for her sack

By Festus Onajite

Nigeria’s economy is heading for more tough times ahead going by current happenstances at the Debt Management Office, DMO, manned by Ms. Patience Oniha.

There have been red alerts pointing towards a major crisis in the Nigerian economy since Oniha took over about a year ago from Dr. Abraham Nwankwo as the director-general. And despite the several millions of naira allocated to the agency, DMO itself is presently a shadow of its old self due largely to the perceived incompetence of the current DG.

The major worry at the moment is that despite the rising debt profile of the nation, the federal government has been unable to develop a fresh debt management strategy, seven months after the expiration of the Debt Management Office’s (DMO) five-year Third Strategic Plan initiated by Oniha’s predecessor.

Nigeria’s total public debt increased by 4.52 per cent in the first three months of 2018, the DMO had revealed, adding that the country’s debt increased from N21.73 trillion in December 2017 to N22.71 trillion at the end of the first quarter of 2018.

Financial experts attribute the above trend to lack of administrative skills exhibited by Ms Patience Oniha in handling affairs at the DMO. It is further argued that if no drastic steps are taken by the federal government concerning the Debt Management Office, the Nigerian economy risks a further nosedive in a few months to come.

“She is an analogue administrator who cannot operate in the digital age of debt management,” a financial expert quipped recently. He called for the sack of the director-general to be replaced by a more competent and experienced hand to manage an agency as strategic as the DMO.

As it stands, the prospect of the debt portfolio has become higher as Nigeria has just signed an agreement with France for $475million loan facility for some projects in Lagos, Kano and Ogun States.


READ MORE HERE: http://witnessngr.com/how-dmo-dg-onihas-management-style-is-killing-nigerias-economy/

-As financial experts call for her sack

By Festus Onajite

Nigeria’s economy is heading for more tough times ahead going by current happenstances at the Debt Management Office, DMO, manned by Ms. Patience Oniha.

There have been red alerts pointing towards a major crisis in the Nigerian economy since Oniha took over about a year ago from Dr. Abraham Nwankwo as the director-general. And despite the several millions of naira allocated to the agency, DMO itself is presently a shadow of its old self due largely to the perceived incompetence of the current DG.

The major worry at the moment is that despite the rising debt profile of the nation, the federal government has been unable to develop a fresh debt management strategy, seven months after the expiration of the Debt Management Office’s (DMO) five-year Third Strategic Plan initiated by Oniha’s predecessor.

Nigeria’s total public debt increased by 4.52 per cent in the first three months of 2018, the DMO had revealed, adding that the country’s debt increased from N21.73 trillion in December 2017 to N22.71 trillion at the end of the first quarter of 2018.

Financial experts attribute the above trend to lack of administrative skills exhibited by Ms Patience Oniha in handling affairs at the DMO. It is further argued that if no drastic steps are taken by the federal government concerning the Debt Management Office, the Nigerian economy risks a further nosedive in a few months to come.

“She is an analogue administrator who cannot operate in the digital age of debt management,” a financial expert quipped recently. He called for the sack of the director-general to be replaced by a more competent and experienced hand to manage an agency as strategic as the DMO.

As it stands, the prospect of the debt portfolio has become higher as Nigeria has just signed an agreement with France for $475million loan facility for some projects in Lagos, Kano and Ogun States.

READ MORE HERE: http://witnessngr.com/how-dmo-dg-onihas-management-style-is-killing-nigerias-economy/

Mr. Obeahon Ohiwerei is the Group Managing Director/CEO of one of the fastest growing financial institutions in Nigeria, Keystone Bank Limited.

In this interview with INTERNATIONAL BANKER MAGAZINE, UK, the banking guru speaks on the achievements of the bank in the last few months since assuming office. In less than one year of AMCON’s divestment from Keystone Bank, the lender has experienced tremendous transformation in all ramifications. Aside revamping all its branches across the country and bolstering its workforce, it has invested substantially in technology and developed fully integrated service models that enable customers access banking services through a wide range of channels. The bank for the quarter ended March 2018 recorded a profit before tax of N3.72bn, compared with a loss of N2.79bn over the same period in 2017. Excerpts.




Keystone’s stated vision is to “set the pace in financial services delivery, creating utmost value for our stakeholders”. What exactly do you mean by “setting the pace”?

The statement referred to above is actually our former vision statement and as part of our re-engineering process it has since been replaced. Our current vision is “to be the preferred platform for delivering convenient and reliable financial solutions”.

In doing so we shall consistently leverage people and technology to deliver superior customer experience and enhanced stakeholder value.

In my view, the word “preferred” takes us above the fray; it elevates the discussion beyond traditional metrics of balance sheet size, asset base and the like, which are still important to us.

However, it commits us to delivering such excellent service in all we do that customers repeatedly trust us, desire to do business with us and are always willing to give us the benefit of the doubt.



The bank’s Pink Account is a special account for women that gives access to an online digital-marketing network, among other features. What made you believe that such a service was needed?

In its Financial Inclusion Overview updated April 20, 2018, the World Bank noted that “around 2 billion people don’t use formal financial services and more than 50% of adults in the poorest households are unbanked”. http://www.worldbank.org/en/topic/financialinclusion/overview

In Nigeria, multiple surveys by EFInA Access to Financial Services confirm that about 36.9 million adults are financially excluded, of which 57.9% are female while 42.1% are male. Against this backdrop, the Central Bank of Nigeria has in recent years actively pursued a holistic financial inclusion strategy across the country http://www.efina.org.ng/assets/DidYouKnow

On our part, the Pink Account is designed to meet the needs of our female working class and SME customers and provides such benefits as access to attractive loans, customized electronic debit cards and access to discounts from partner stores while the pink network is an online forum that empowers our female entrepreneurs with free mentorship and capacity building sessions.\



Women from different walks of life can network, share ideas, inspire each other and develop mentor/mentee relationships on www.PinkNetwork.ng while the Pink Marketplace www.marketplace.pinknetwork.ng provides an e-marketplace where they can buy, sell and advertise for free



We noticed that your corporate-banking division has a sector focus on oil and gas trading. How significantly has Keystone’s earnings been impacted by the slump in oil and gas prices over the last three years or so?

In reality the negative headwinds on the sector were two-fold;

Globally, increased output both from shale oil in the US and OPEC countries impacted negatively on price while domestically the federal government prioritised its re-engineering program in the sector to plug income leakages and improve overall accountability

This additional level of scrutiny though laudable, brought with it a major downside risk to the banking sector in general, with the recurrent spectre of delayed payments to oil marketers and their resultant inability to effectively service their loans

Prior to this, Keystone Bank had significant loan exposures in the petroleum downstream sector and a strategic decision was taken to consciously wind down these exposures and diversify actively into other trade sectors.

Overall, while the slump in oil prices had some impact on our earnings, our cautious and largely bearish approach to risk asset creation in the sector moderated this as well



Keystone Bank has recently partnered with CeLD Innovations Limited, a Cash Reward as-a-Service Company, to launch the product CashToken. What are the main benefits of this product?

At Keystone Bank, we already know that today’s businesses are not only susceptible to technology disruptions but are under a bigger threat when they fail to place a premium on their share of the consumers’ “emotional equity”

Across all sectors, consumers are forcing the narrative that achieving customer-centricity is no longer a differentiator, but a key determinant of business survival or leadership.

This informed our partnership with CELD to launch the Cash-Reward-as-a-Service product named the “CashToken” which can be won by: New & Existing Customers that activate accounts on our Mobile App or USSD and actually execute at least 5 Fee-Earning Transactions (Instant Transfers & Bill Payments).

Active customers who maintain a minimum balance of N10,000 at least 30 days to their birthdays.

Both customers of Keystone Bank and non-customers that do at least three (3) transactions on our ATMs.

Active customers can win between N5,000 and N100,000,000 at our periodic draws as well as access General & Health Insurance Benefits subject to specified terms and conditions.

Furthermore, agencies of government can also leverage the Cash Token to incentivize conscientious tax and related statutory payments



As I understand, Keystone aims to partner with more than 50,000 SME sector players as part of its strategy to become the fastest growing retail bank in Nigeria. How exactly does the bank go about partnering with such a large number of companies?

Globally, SMEs are established drivers of even the strongest economies and Nigeria cannot be an exception. With over 15million SMEs dotting the Nigerian landscape, we are poised to ensure our customers in this segment actively grow their businesses through our partnerships and focused initiatives in the segment.

We shall continue to partner with the government and other developmental agencies in making intervention funds available to the segment.

Our SME proposition is the “Growbiz Account” with three variants that address their cycles of growth from infancy through maturity and stability.

We are also empowering SMEs through our Agency Banking initiative by signing them up as agents for basic off-site cash-in/cash-out services

READ MORE HERE: http://witnessngr.com/how-we-transformed-keystone-bank-in-less-than-one-year-md-ohiwerei/

Hundreds of commuters and vehicles are trapped on the Michael Otedola Bridge in Lagos as a petrol laden tanker went up in flames.

The fire had spread to the vehicles caught up in the usual evening traffic on the bridge.

Outward bound passengers on the Lagos-Ibadan Expressway have been caught up in serious traffic, with the battle to rescue trapped commuters impossible as at press time as the fire raged.
It is feared that many who could not flee are going to be burnt, while several vehicles are already up in flames.

READ MORE HERE: http://witnessngr.com/breaking-tanker-goes-up-in-flame-on-lagos-ibadan-expressway-photos/

Intrigues, highwire politicking and intensive lobbying are at work at the Nigerian Presidency and Police Force Headquarters (FHQ), Louis Edet House Garki, Abuja, as President Muhammadu Buhari shops for a new Inspector-General of Police, IGP, ahead of the retirement of incumbent, Ibrahim Kpotun Idris. Although Idris is due for statutory retirement on December 31, 2018, he is said to be lobbying for one-year extension, The Witness reports.

The Witness gathered that as Idris intensifies lobbying top members of the ruling All Progressives Congress (APC) to extend his tenure, the president has discussed with some of his cabinet members on a credible officer to replace the embattled police chief.

As Idris makes move to remain on the seat for another one year, The Witness learnt that several senior policemen and their political godfathers have also started lobbying to become the next Inspector General of Police.

It was gathered that between now and 2019, several police chiefs, especially of the ranks of Deputy Inspectors General of Police, Assistant Commissioners of Police and Commissioners of Police will proceed on their retirement.

A source said: “Between this month and 2019, the bulk of senior officers in the Nigerian Police will go on retirement.

READ MORE HERE: http://witnessngr.com/exclusive-intrigues-as-buhari-shops-for-new-igp-to-replace-idris/

The managing director/chief executive officer of the Nigerian Bulk Electricity Trading Plc., Dr Marilyn Amobi is in the news again for the wrong reasons, The Witness learnt.

She has been accused of flagrant disobedience to extant circulars and the desperation to allegedly amass wealth illegally thereby leading to her deployment of armed policemen with AK47 to harass and humiliate any staff who refuses to cooperate on her alleged illicit deals.

A staff who spoke on condition of anonymity confided in The Witness that some staff have petitioned the Inspector General of Police on the harassment being suffered from armed policemen stationed on the floors of the Bank of Industry building occupied by NBET at the Central Business Area, Abuja each working day. The policemen, we learnt, are being funded by NBET with taxpayers’ money.

Dr. Amobi, The Witness gathered was said to have bought cars worth over N400million in the last one year without commensurate performance in collections from Electricity Distribution Companies, otherwise called DISCOS. Our source disclosed that all the cars and office relocation expenses in the 2017 budget worth over one billion naira were allegedly procured using over-invoicing, contract splitting to avoid being queried by either the Federal Executive Council or ministerial approval threshold as virtually those procurements were wasteful spending of public funds. More worrisome is the shocking revelation from Nigerian Electricity Regulatory Commission that the commission was prudent by transferring the vehicle used by the vice chairman of the commission to the newly appointed chairman of NERC so as to minimise wasteful spending of public funds.

The Witness authoritatively gathered that both the Independent Corrupt Practices Commission (ICPC) and the Office of the Auditor General of the Federation have swung into action aimed at unraveling the alleged massive corruption being perpetrated in Nigerian Bulk Electricity Trading Plc by its boss and her cohorts. A whopping sum of N102million contained in the 2018 budget awaiting assent under the heading of library is currently being sponsored by a foreign donor in addition to funding for provision of legal advisory services among others, these amounts of money are still budgeted for by NBET in the 2018 fiscal year. Investors and other stakeholders are wondering why Dr Marilyn Amobi appears untouchable and why pre/post consideration of NBET budget by the National Assembly are not subjected to scrutiny given all the atrocities she has perpetrated since her assumption of office.

READ MORE HERE: http://witnessngr.com/nbet-md-marilyn-amobi-squanders-billions-harasses-staff-with-police/

Intrigues, highwire politicking and intensive lobbying are at work at the Nigerian Presidency and Police Force Headquarters (FHQ), Louis Edet House Garki, Abuja, as President Muhammadu Buhari shops for a new Inspector-General of Police, IGP, ahead of the retirement of incumbent, Ibrahim Kpotun Idris. Although Idris is due for statutory retirement on December 31, 2018, he is said to be lobbying for one-year extension, The Witness reports.

The Witness gathered that as Idris intensifies lobbying top members of the ruling All Progressives Congress (APC) to extend his tenure, the president has discussed with some of his cabinet members on a credible officer to replace the embattled police chief.

As Idris makes move to remain on the seat for another one year, The Witness learnt that several senior policemen and their political godfathers have also started lobbying to become the next Inspector General of Police.

It was gathered that between now and 2019, several police chiefs, especially of the ranks of Deputy Inspectors General of Police, Assistant Commissioners of Police and Commissioners of Police will proceed on their retirement.

A source said: “Between this month and 2019, the bulk of senior officers in the Nigerian Police will go on retirement.

READ MORE HERE: http://witnessngr.com/exclusive-intrigues-as-buhari-shops-for-new-igp-to-replace-idris/