By Dipo Olowookere
The Group Deputy Managing Director of Access Bank Plc, Mr Obinna David Nwosu, has resigned from the company.
Mr Nwosu’s resignation was announced on Wednesday by the Board of Directors of Access Bank in a statement signed by Mr Sunday Ekwochi, the bank’s Secretary.
It was stated that Mr Nwosu will officially quit the financial institution on Sunday, April 30, 2017.
Access Bank explained that Mr Nwosu was leaving to “pursue other personal endeavours” and emphasised that he had no disagreement with the board and that there was no matter relating to his resignation that needed to be brought to the attention of the shareholders of the company or the regulatory authorities.
However, the bank wished Mr Nwosu success in his future endeavours and expressed its gratitude to him for his contributions and services to the company.
With the retirement of Mr Nwosu, Access Bank now has 15 directors comprising nine Non-Executive Directors and six Executive Directors.
ICPC Arrests Sterling Bank Managers for Hoarding N258m New Notes
By Aduragbemi Omiyale
Two Sterling Bank managers in Abuja have been apprehended by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
A statement from the ICPC disclosed that its operatives arrested the Regional and Service Managers of the financial institution last Friday for hoarding N258 million in the bank’s vault.
The new Naira notes were given to Sterling Bank by the Central Bank of Nigeria (CBN) to disbursement to customers to ease the tension caused by Naira scarcity.
“As part of ongoing efforts at ensuring that commercial banks comply with the CBN’s directive on the distribution of the redesigned Naira notes, operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) last Friday discovered the sum of N258 million stashed in the vault of Sterling Bank in Abuja.
“This discovery followed one of the commission’s operations at ensuring that commercial banks and other interest groups do not flout the apex bank’s directive.
“When the ICPC monitoring team visited the bank and discovered the stashed new Naira notes in the bank’s vault, it was informed that the cash was the remnant of what the CBN had given the bank for onward distribution to its branches.
“The team, however, found out that only the sum of N5 million each was distributed to their various branches.
“Both the Regional and Service Managers were arrested and later granted administrative bail while the investigation continues,” the statement issued by the spokesperson of the ICPC, Mrs Azuka Ogugua, stated.
Wema Bank Gives Nigerians Option to Buy New Samsung Diamond Series on Credit
By Aduragbemi Omiyale
Nigerians intending to purchase the new Samsung Diamond Series phones but are short of funds can now fulfil their fantasy through Wema Bank Plc.
The financial institution, through its digital banking arm, Wema by ALAT, has partnered with the South Korean manufacturing giant, Samsung Electric Industries, to sell smartphones to customers in Nigeria.
According to the Chief Digital Officer of Wema Bank, Mr Olusegun Adeniyi, prospective buyers can make a partial payment or buy on credit for any of the models in the series.
“This partnership between ALAT and Samsung will simplify the acquisition of high-end gadgets, provide customers with multiple payment options, and simplify logistics,” he stated.
“Our current and prospective customers who desire to own any of the models of the new Samsung Diamond Series phones can pre-order their choice on ALAT.
“They can also choose their preferred pick-up locations, and their orders will be delivered to their preferred destination,” he explained.
Additionally, Mr Adeniyi encouraged prospective buyers to take advantage of the partnership’s partial payment and credit options.
“Customers can either make full payment or pay a 30 per cent equity contribution from their selected account, after which the devices can be picked up at the preferred locations selected on their Pre-Order Forms.
“Individuals who wish to buy on credit can do so through the device loan feature on ALAT.” The banker added.
The bank noted that while customers will be notified by email or phone call through one of their contact agents when their order is delivered to their preferred locations, those who want to track the status of their orders can do so via telephone at 07000PURPLE or 08039003700, or via WhatsApp chat at 09044411010.
Naira Scarcity: CIBN Urges Customers to Stop Attacks on Banking Facilities
By Aduragbemi Omiyale
The professional body for bankers in the country, the Chartered Institute of Bankers of Nigeria (CIBN), has appealed to citizens of the nation to be patient and remain calm over the hardship caused by the scarcity of new Naira notes in the financial system.
The Central Bank of Nigeria (CBN) changed the N200, N500, and N1,000 denominations and asked residents of the country to return the old currency notes.
Since the apex bank extended the deadline of the currency swap on January 29, 2023, to February 10, 2023, Nigerians have been made to spend almost the whole day withdrawing about N20,000, and in some cases, ATMs are unable to dispense cash to customers, fanning outrage among the people, who are already frustrated by the effect of the Naira redesign policy.
Their anger further rose after reports of security officials arresting bank managers who hoarded the new notes and failed to load their ATM terminals for customers to withdraw cash, resulting in attacks on banking facilities.
Worried by this, the CIBN issued a statement on Tuesday to appeal to the banking public to exercise patience, promising that efforts are being made by stakeholders to address the issue.
In the statement signed by the Registrar/Chief Executive of CIBN, Mr Akin Morakinyo, the group expressed sympathy “with the banking public on the difficulties encountered in accessing the new Naira notes which heightened tension and, in some cases, provoked acts of violence at different customer touchpoints.”
“Whilst we understand the plight of bank customers, we passionately appeal for calm and understanding as the regulator, the Central Bank of Nigeria (CBN), and the operators, the banks, are working assiduously to bring the situation under control.
“Relevant stakeholders within the ecosystem are being engaged with a view to addressing the unintended consequences of the laudable Naira redesign policy.
“To this end, we beseech the general public to eschew any act capable of exacerbating the current situation and exercise restraint while we enjoin all our members to carry on their duties with utmost professionalism and diligence.
“The Chartered Institute of Bankers of Nigeria, the umbrella professional body for banks and bankers, is confident that this phase will pass with the cooperation of all and sundry, and our country Nigeria will come out of this stronger,” it further said.
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