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Wema Bank Of Crisis: New MD, Ademola Adebise sacks Segun Oloketuyi loyalists…

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According to The Lagos Times, All is not well at one of the nation’s top financial institutions Wema Bank as what started out as a routine changing of the guard threatens to snowball into a raging inferno that consumes several longstanding staff and turns the rapidly-growing bank into a house divided against itself.
No sooner had the dust settled on the retirement of Wema’s long-serving Managing Director Olusegun Oloketuyi than his successor Ademola Adebise allegedly launched a plot to oust some top bank employees from their positions and install his people in their place.
Certain bank insiders who would like to remain anonymous claimed to us that the new MD/CEO who came to power just two weeks ago has already shown the door to five bank managers. Their crime: they are accused of being loyal to the retired MD Oloketuyi.
Adebise who has been in the Wema Bank system since 2009 is allegedly targeting all the loyalists of the old regime, especially those who followed Oloketuyi to Wema from Skye Bank. He allegedly wants them out at all costs so as to stamp his own imprints into the day-to-day running of the bank and pave the road towards writing his own legacy.
Recall that the departed MD joined Wema at a time it was struggling to break even after the global economic crisis of 2008. Under his stewardship Wema Bank made a turn for the better and, since regaining its national banking license, has become one of the most vibrant and innovative banks in the country.

Oloketuyi presided over New technological innovations that helped Wema rapidly reposition itself as the bank to beat. The introduction of ALAT, the country’s first wholly digital banking platform, garnered accolades and awards from numerous quarters.
Upon his retirement he must have thought he was leaving the bank in the hands of an able former deputy who would continue his good work. The opposite seems to be the case as Adebise has allegedly moved to erase all traces of his predecessor from the bank.
Allegedly, several high profile heads have already rolled. The bank’s head of human resources tops the list of those who are rumoured to have lost their plum jobs as the new regime moves to consolidate power. More names have allegedly been pencilled down for the next round of firings.
Insiders disclosed that the recent spate of sackings has led to a tense atmosphere at the self-acclaimed longest surviving and most resilient indigenous bank in Nigeria. Everyone is said to be on tenterhooks as they await the next victim of Adebise’s alleged purge.

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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