CBN Directs All Bankers To Declare Their Assets

The Central Bank of Nigeria, CBN, has directed all bankers in the 19 deposit banks in the country to declare their assets immediately. In a letter sent to all the banks through the Banking Supervision Department of the CBN, the apex bank mandated all bankers to declare their assets through a court affidavit.


Insiders say the move is not unconnected with the anti-corruption campaign of this present administration. Only 3 of the 19 deposit banks have so far had their staff comply with this directive.

Skye Bank Sacks 175 Workers

The recent trend of retrenchment of workers in the financial services sector on Monday extended to Skye Bank Plc, which sent 175 of its employees into the labour market.

The bank confirmed the development in a statement through which it explained that the affected workers failed the year 2015 appraisal exercise.

The statement explained that a combination of factors was taken into consideration in the annual exercise, which ranged from low productivity to disciplinary issues, adding that the affected employees were duly exited in line with the bank’s staff exit policy.

The statement read in part, “The staff disengagement exercise is coming a year after the bank’s successful integration with the erstwhile Mainstreet Bank, which it acquired in October 2014; the integration exercise described by analysts as a landmark in Nigeria’s banking industry has significantly improved Skye Bank’s ICT capacity and helped strengthen the bank’s service delivery.

“The bank extended its appreciation to the affected staff for serving the bank, describing them as members of the family who will always be accorded deserving respect in their future dealings with the bank.”

According to the statement, Skye Bank is adjudged by the Central Bank of Nigeria as one of the systemically important banks with over N1.3tn balance sheet, and has over 400 branches.

Diamond Bank Plc retrenched over 200 members of its workforce, while Ecobank Nigeria sacked over 1,040 of its employees, in response to the difficulties in the economy.

FBN Holdings, the parent company of First Bank of Nigeria Limited, had recently said it would cut down the number of its employees by 1,000.

As a result of the development, the Minister of Labour and Productivity, Dr. Chris Ngige, on Friday directed the banks to stop the retrenchment exercise.

The minister further directed that all the retrenchments done in the past four months should be put on hold pending the outcome of a proposed stakeholders’ summit for employers and employees of the banking, insurance and financial institutions scheduled for the first week of July.

“Following the high spate of petitions and complaints from stakeholders in the banking, insurance and financial institutions, I hereby direct the suspension of the ongoing retrenchment in the sector pending the outcome of the conciliatory meetings in the industry,” Ngige had said.

Credit: Punch

N23bn Bribe: EFCC To Arrest More INEC Officers, Bankers

The Economic and Financial Crimes Commission is set to arrest more officials of the Independent National Electoral Commission and election monitors that received various bribes in the N23bn funds from a former Minister of Petroleum Resources, Diezani Alison-Madueke.

The PUNCH had reported on Thursday that the EFCC had arrested the Managing Director and Chief Executive Officer of Fidelity Bank, Mr. Nnamdi Okonkwo, for handling $115m for Diezani in the build-up to the presidential election.

Okonkwo was alleged to have helped in converting the money to N23bn which was then disbursed to INEC officials and election monitors under the instruction of Diezani’s son, Ugonna, for the electoral chiefs to manipulate the poll results.

A reliable source at the EFCC said, “Ugonna prepared a list of beneficiaries that would get the money and it was distributed about a day or two before the elections. We have started tracing those who collected money and our aim is to recover the funds.

“All the electoral officers, who betrayed public trust would be arrested. All EFCC zonal offices have been given the directive to investigate in their respective areas of jurisdictions.”

The EFCC had, two weeks ago, arrested the Resident Electoral Commissioner in the 2015 election in Rivers State, Mrs. Gesila Khan, for allegedly collecting N185.8m while one Fidelia Omoile who was the INEC electoral officer in the Isoko-South Local Government Area of Delta State, allegedly got N112.4m.

Apart from tracing over N112m to her, the commission also recovered some sensitive electoral materials during a search on her apartments in Edo and Delta states.

The commission also arrested one Oluchi Brown, who was the INEC administrative secretary in Delta State. She allegedly received over N111m.

Further investigations by detectives revealed that Brown had about $75,857 in an account in the United States.

The anti-graft agency also arrested one Edem Effanga, who is a retired INEC official.

He was arrested alongside his alleged accomplice, Immaculata Asuquo, who is the Head, Voter Education, INEC, Akwa Ibom State.

He was alleged to have received over N241.1m, which he allegedly shared among INEC ad hoc workers during the last election.

Meanwhile, the commission has intensified its search for Diezani’s son.

According to sources at the EFCC, Ugonna is the key to arresting all those involved in the case.

EFCC officials had stated that Diezani’s son served as a middleman between the ex-minister and the bank MD.

Ugonna is the Head of Business Development and Commercial Marketing at Radam Maritime Services Limited, a firm, which is headed by his father, Alison Madueke, a former Chief of naval Staff, who is also under investigation by the EFCC for alleged money laundering.

He is said to have business interests in the United States and the United Kingdom.

A senior official, who spoke to our correspondent on condition of anonymity, said, “We have launched a manhunt for Ugonna, who the suspects said was the one who drew up a list of individuals, who should be given the N23bn ($115m).

“We don’t know exactly where he is but we will get him. He needs to explain his role in the sharing of the money because the bank officials have been mentioning his name since they were brought in.”

Ugonna, who is an engineer, burst into the limelight in 2012 when photos showing his ostentatious lifestyle went viral on the Internet.

In one of such pictures, the graduate of University of Maryland College Park in the US, was seen flying in a private jet and later drinking champagne in a limousine. He has also been seen displaying wads of dollar notes on social media.

Meanwhile, sources at the EFCC said that it would arrest more employees of Fidelity Bank, who allegedly participated in the sharing of the $115m.

A detective also said that there were others in the bank, especially at the Head Office, who would have been aware of the bazaar but failed to alert the appropriate authorities.

“Currently, we have the MD as well as the Head of Operations, Mr. Martins Izuogbe. However, we have reason to believe that they are not the only two that were involved in the bazaar. In the coming days, we will arrest more workers,” he said.

 

Credit : Punch

3 Ecobank Employees Docked For Stealing N2.8m From Customers’ Accounts

Three Ecobank employees were arraigned in Lagos on Tuesday for allegedly stealing N2.8 million from customers’ accounts.

 

 

The accused persons – Oluwatoyin Adetunji (41), Oluwatosin Obademi (32) and Olushola Ogunshina (39) – are facing a three-count charge of conspiracy, forgery and stealing before a Tinubu Magistrates’ Court in Lagos Island.

 

 

The prosecutor, Insp. Nurudeen Thomas, told the court that the accused persons between July 10 and 14, 2015, forged signatures of several Ecobank customers and stole the sum of N2.8million from their accounts at Iyan-Ipaja branch of the bank.

 

 

He said that Adetunji and Obademi, were cashiers while Ogunshina was Information Technology personnel at the bank.

 

 

According to the prosecutor, Obademi and Ogunshina claimed that the Adetunji came to them with the deal and promised to pay them N350,000 each.

 

 

Thomas, said that the offences contravene Sections 285, 361 and 409 of the Criminal Code of Lagos State, 2011.

 

 

The Chief Magistrate, Mrs K.B Ayeye, granted the accused persons bail in the sum of N200,000 with two sureties each in like sum, and adjourned the case to Feb. 22 for hearing.

 

(NAN)

Ex-Bankers Get 91 Years In Prison For N114.6million Fraud

Press statement from EFCC below…

Justice Ibrahim Mairiga of the Kebbi State High Court has convicted Suleiman Ibrahim Musa, Bilyaminu Usman and Lawal Suleiman on a 16-count charge bordering on conspiracy, forgery, theft and criminal breach of trust brought against them by the Economics and Financial Crimes Commission, EFCC and sentenced them to 91 years in prison.

The convicts, who are former members of staff of FinBank Plc (acquired by First City Monument Bank Plc in 2011), Birnin-Kebbi branch in Kebbi State, were first arraigned on July 21, 2010, and had pleaded not guilty to the charges. Musa, who was then the head of operations, defrauded the bank of N101, 707,000; Usman and Suleiman, both tellers connived to defraud the bank of N6, 627,500 and N6, 267,500 respectively. The crimes were committed between 2008 and 2010.
They had at different times debited the bank’s customers by carrying out unauthorized withdrawals. They were arrested by EFCC operatives following a petition by the bank’s management, after several customers lodged complaints alleging fraudulent deductions from their bank accounts.

They had backed up their claims with various documentary evidences – stamped deposits and investment certificates. After five years of trial, Justice Mairiga, having been convinced by the evidence brought before him by the prosecuting counsel, Aisha Habib, found them guilty of the charges. “By considering the amount involved and weight of evidence presented before the court by the prosecution, which was never challenged by the defence, it shows that their wrongful act caused a great injury to the bank,” the judge said. “I therefore, find the accused persons guilty as charged, and so convict and sentence them to 55 years, seven years and 29 years imprisonment respectively without an option of fine, with the jail term to serve concurrently”, the judge ruled.

The judge also ordered the convicts to return the stolen money to the bank.
Wilson Uwujaren
Head, Media & Publicity 6th August, 2015