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  • JUST IN: Lawan swears-in Abiru, Dickson, two other Senators

    JUST IN: Lawan swears-in Abiru, Dickson, two other Senators

    Senate President Ahmad Lawan on Tuesday swore-in four senators recently elected through bye-elections in states across the country.

    The new Senators include Senator Adetokunbo Abiru (Lagos East), Senator Henry Seriake Dickson (Bayelsa West), Senator Cleopas Moses (Bayelsa Central) and Senator Nora Ladi Dadu’ut (Plateau South.

    The oath of office and allegiance were administered Thursday on Senator Olujimi by the Clerk of the Senate, Ibrahim El- Ladan during plenary.

    The President of the Senate, Senator Ahmad Lawan, however, refused to swear in the Senator-elect for Cross River North Senatorial District, Stephen Odey.

    ALSO READ: Northern elders flay disruption of peace summit, attack on participants in Kaduna
    Odey had arrived the National Assembly complex as early as 8am with supporters from Cross River State in anticipation for the swearing-in.

    Odey who was the Senior Legislative Aide, SLA to Governor Ben Ayade as a Senator in the 7th Senator, was however disappointed when his name was not mentioned as one of those to take the oath of office.

    With the swearing-in, the number of All Progressives Congress, APC, Senators now stand at 63 while PDP now has 45 Senators.

    While Senator Seriake replaced Senator Lawrence Ewhrudjakpo; Senator Cleopas is replacing Senator Diri Douye; Senator Abiru replacing late Adebayo Osinowo and Dadu’t is replacing late Ignatius Longjan.

  • By-elections highlights: Abiru, Dickson, Dabu’ut win senatorial seats

    By-elections highlights: Abiru, Dickson, Dabu’ut win senatorial seats

    The All Progressives Congress (APC) on Sunday won senatorial by-elections in Lagos East, Imo North and Plateau South districts.

    According to observers, the by-elections, which were the first critical assignments by the Independent National Electoral Commission (INEC) Chairman Prof. Mohammed Yakubu, who was cleared by the Senate for his second term last week, were generally peaceful.

    The APC candidate in the Lagos East, Tokunbo Abiru, defeated his PDP rival, Babatunde Gbadamosi. Abiru, who polled 89,204 votes, defeated Gbadamosi, who got 11,257 votes.

    Lagos

    Lagos State Governor Babajide Sanwo-Olu congratulated Abiru and Kosofe Constituency II candidate Obafemi Saheed for their victories.

    Saheed polled 12,494 votes to beat his rival, Sikiru Alebiosu of PDP, who got 2,068.

    Sanwo-Olu, in a statement by his Chief Press Secretary, Gboyega Akosile, said APC’s victory with wide margin reflected the confidence of Lagosians in the rulling party

    The governor commended the electorate for trooping out to perform their civic responsibilities. He also lauded chieftains of the party and members for working assiduously for victory.

    Sanwo-Olu said: “I want to congratulate Mr. Tokunbo Abiru and Obafemi Saheed on their victories in last Saturday’s by-elections in Lagos East Senatorial District and Kosofe State Constituency II polls. Your emergence as federal and state lawmakers is a validation of peoples’ confidence in our dear party, the APC.”

    The Speaker of the House of Representatives, Femi Gbajabiamila, congratulated the APC for its victory.

    In a statement by his spokesman, Lanre Lasisi, the Speaker congratulated Sanwo-Olu for leading the party to victory.

    Gbajabiamila urged the APC candidates to be magnanimous in victory.

    Lagos State House of Assembly Speaker Mudashiru Obasa said the victory showed that APC is a strong, formidable and unified platform in Lagos State.

    “The people of Lagos State appreciate us as a party and this is evident in the landslide victory of the two candidates in the election,” Obasa said.

    He urged Abiru and Saheed to see their victory as opportunities to bring government closer to their people and play strong roles in the advancement of Lagos State.

    Lagos APC said the defeat of the PDP confirmed that the opposition party had been rejected by Lagosians.

    APC chided the PDP chairman, Deji Doherty, for accusing the Independent National Electoral Commission (INEC) of allocating votes to the ruling party.

    Lagos APC Publicity Secretary Seye Oladejo said in a statement that the allegation of vote allocation to APC was ridiculous, stressing that the elections were free and fair.

    He also rejected the allegation of vote buying and other forms of fraud.

    Oladejo said: “The reaction of the Lagos State chairman of PDP to the humiliating defeat of his party to the recently held Lagos East Senatorial and Kosofe 2 Lagos State House of Assembly elections can best be described as a comic relief from the recent pressure and challenges.

    “It was a referendum on the spineless and ineffectual opposition that the PDP has been providing in Lagos State for over two decades.

    “The age-long disharmony and lack of coordination in the PDP effectively laid the foundation for the permanent trouncing of the opposition party in Lagos state.

    “The impressive performance of the ruling party, APC, in the determined implementation of its progressive policies has made PDP a taboo in Lagos state.”

    He added:” It’s a big surprise that the state chairman could complain about the results of the elections that he was too busy to campaign for his candidates.

    “While they were busy conducting fake personal opinion polls, the ruling APC was reaching out to the voters with life changing programs, manifestos and policies that are relevant to the challenges of the day.

    “However, we emphatize with Engr Doherty who must still be dazed by the total annihilation.

    The bye-election will go down in history as one of the best in terms of conduct by INEC, the professionalism of the security agents and the fact that the results truly reflected the popular will.”

    Zamfara

    The PDP asked the Returning Officer for the Bakura Constituency in Zamfara State, Prof. Ibrahim Magatawa, to step aside.

    In a statement by its spokesman, Kola Ologbondiyan, the party accused Prof Magatawa of plots to rig the poll in favour of the APC.

    The electoral commission had declared the election inconclusive, following its cancellation in some areas. INEC had fixed next Saturday to conclude the election.

    Ologbondiyan said: “The PDP demands the immediate removal of Prof. Magatawa as his embarrassing pronouncement has betrayed a plot to use the planned re-run in 14 polling units where election was cancelled under unclear circumstances, to rob our party of our victory in the Bakura State Constituency by-election.

    “Our party and Nigerians were shocked when, in declaring the election inconclusive, given that the total number of registered voters in the 14 polling units is 11,439 higher than the 2,181 difference between the 18,645 votes scored by the PDP and 16,464 votes garnered by the APC, Prof. Magatawa openly suggested that the rerun will give the APC upper hand over the PDP”.

    The PDP quoted Prof. Magatawa as saying: “If the APC is to, may gain advantage if there is another election in these units where election is cancelled, that they may get upper hand over the PDP and as a result, we have declared this result inconclusive”.

    The party said Magatawa’s statement exposed the partisanship of the INEC official, triggering a dangerous crisis of confidence and pointing to a creepy plot to use the rerun to allocate fictitious votes to APC, “the very reason, Prof. Magatawa must not be allowed in anyway to participate in the anticipated rerun”.

    “The PDP therefore. demands that the Chairman of INEC, Prof. Mahmood Yakubu, directly take over the conduct of processes in the Bakura State Constituency bye-election, where our party is in clear victory, as the people will never allow any final outcome that does not reflect the electoral reality already on the ground”

    Bauchi

    Bauchi State Governor Bala Mohammed enjoined PDP members to accept defeat at the Assembly by-election with dignity and sportsmanship.

    The governor who described the defeat as the will of God, urged party faithful not to be divided by the temporary setback.

    The governor in a statement by his Senior Special Assistant on Media , Muktar Gidado and made available to reporters Sunday said the loss was a lesson, adding that ‘his government and the PDP need to plan to regain their lost ground with chivalry, tactics and team work.’

    He added: “We lost 21 House of Assembly seats and 3 Senate seats in 2019 but Allah gave us victory in the gubernatorial election. Let us not play to the gallery by indulging in blame game, internal rancor, accusations and mistrust.”

    Imo North

    There was drama at the INEC office of the Independent National Electoral Commission in Owerri, the state capital, when the Returning Officer, Hakeem Adikum, declared the APC winner of Imo North.

    The Returning Officer said APC scored 36, 811 votes, while Emmanuel Okewulonu of the PDP scored 31, 903 votes.

    According to Adikum, APC won in five out of the six local government areas in the senatorial district while PDP won in one LGA.

    While PDP won in Obowo LGA where its candidate hails from.

    APC won in Okigwe, Onuimo, Isiala Mbano, Ehime Mbano and Ihitte/ Uboma LGAs.

    INEC’s failure to return any candidate as the winner caused disquiet in the hall, as the supporters of Ifeanyi Araraume and Frank Ibezim, laid claims to the APC ticket.

    The INEC Resident Electoral Commissioner in Imo state, Prof Francis Ezeonu, told reporters that the commission was unable to return the APC candidate as the winner because of what he called court orders for and against Araraume and Ibezim of the APC.

    Also, Abuja Federal High Court had on Friday barred Ibezim from contesting the election.

    A Court of Appeal in Owerri sacked Araraume as the candidate and declared Ibezim as the authentic candidate of the party.

    Justice Uchechukwu Onyemenem who delivered the judgment, ordered INEC to immediately enlist Ibezim’s name as the candidate.

    Plateau South

    APC candidate in Plateau South Prof. Nora Dabu’ut, was declared winner.

    According to the results announced by INEC, Prof. Idris A female, the Deputy Vice Chancellor, Federal University, Lafia, Nassarawa State, said, Dabu’ut polled of 83,151 votes while George Daika, PDP rival, got 70,838 votes.

    Mrs Dabu’ut defeated her opponent in four out of the six local government areas in the senatorial district. while the PDP candidate, Daika, won in two local Government Areas.

    Plateau State Governor Simon Bako Lalong congratulated Dabu’ut for making history as the first female Senator-elect in the State.

    Dabu’ut will succeed the late Senator Ignatius Longjan.

    Lalong said the victory of Prof. Nora Dabu’ut was not surprising as the APC is well rooted in the whole state particularly the Southern Senatorial District.

    Also, the Deputy Speaker of the House of Representatives, Ahmed Idris Wase, felicitated with Dabu’ut,

    In a congratulatory massage by his Chief Press Secretary, Umar Muhammed Puma, Wase described the victory as a confirmation that the people of southern senatorial district have confidence in the ruling APC.

    He also lauded the electoral commission and security agencies for doing their best within the ambit of the law to ensure free, fair and credible elections.

    Cross River

    INEC declared Dr. Stephen Odey of the PDP winner.of the Cross River North by-election

    Odey and Jerigbe Agom Jerigbe also of the PDP were in court.

    They both obtained court orders asking INEC to accept their candidature.

    Also, INEC declared the PDP candidates winner in Obudu State Constituency by-election.

    The Collation Officer Prof. Ameh Akoh of Alex Ekwueme Federal University, Ikwo, Ebonyi State, who announced the result said, the PDP candidate, Dr Stephen Odey, scored 129,207 votes to defeat other Eight contestants.

    According to him, the APC candidate, Joe Agi (SAN) scored 19,165 votes to place second while African Democratic Congress, standard bearer Mr Gregory Agam came third with 388 votes among others.

    Katsina

    The APC candidate Dr. Ibrahim Aminu Kurami declared the winner of the Bakori State Constituency by-election.

    Kurami defeated Alhaji Aminu Magaji of the PDP.

    The Returning Officer of Bakori local Government State Constituency by-election, Professor A. D. Kankia, declared that Kurani scored 20,444 votes,

    He will replace Alhaji Abdurrazaq Tsiga, who died in May after a protracted illness.

    He was the House Deputy leader and Chairman, House Committee on Business, Ethics and Privileges, before his death.

    Enugu

    INEC declared Mrs Amaka Ugwueze, the PDP candidate of the , winner of Isi-Uzo State Constituency election.

    Declaring the results at Isi-Uzo council headquarters in Ikem, INEC Collation Officer for the By-Election, Mr Chukwuemeka Nwachukwu, said that Ugwueze polled 11,041 votes to defeat her close rival, Mr Ejiofor Okwor, candidate of All Progressives Congress (APC), who polled 2,293 votes.

    Nwachukwu said other seven political parties that contested in the by-election scored less than 70 votes each.

    He noted that the by-election had 13,597 total valid votes and 391 rejected votes, while a total of 13,988 votes were cast.

    Dr Emeka Ononamadu, INEC’s Resident Electoral Commissioner (REC) in Enugu State, thanked the electorates and the people for conducting themselves very peacefully during and after the poll.

    “I appreciate our INEC staff, security men, stakeholders and especially the good people of Isi-Uzo for ensuring that this by-election was hitch-free,’’ Ononamadu said.

    The seat became vacant, following the death of the member representing the constituency, Mr Chijioke Ugwueze.

    The late lawmaker’s wife, Mrs Amaka Ugwueze, is the Peoples Democratic Party Candidate and the fourth female legislator in the state assembly.

    Borno

    The APC also won the two State Assembly seats in Borno State.

    Announcing the results in Briyel, headquarters of Bayo Local Government, the INEC Returning Officer Professor Gurama Abubakar declared Maina Maigari of the APC winner with 15,484 votes to defeat six other contestants.

    Also, Gajiram, Nganzai local government, the Returning Officer, Dr Kamsulum Umar declared APC candidate Mahommed Gajiram winner of the State Assembly seat with 8885 votes and returned elected.

    Bayelsa

    INEC declared former Bayelsa State Governor Seriake Dickson the winner of the Bayelsa West by-election.

    Also, Moses Cleopas of PDP won in Bayelsa CentralSenatorial District

    The Returning Officer, Prof. Ekechukwe Okeke, Dean of Humanities, the Federal University, Otuoke, Bayelsa State and Dickson, the PDP candidate polled 115,257 votes while his closest rival, Peremobowei Ebebi, of the APC scored 17,541 votes.

    Dickson, who spoke in his country home of Toru-Orua, shortly after his return, dedicated the victory to God, the voters, Bayelsa and the Ijaw nation.

  • JUST IN: APC’s Tokunbo Abiru wins Lagos East senatorial bye-election

    JUST IN: APC’s Tokunbo Abiru wins Lagos East senatorial bye-election

    Tokunbo Abiru of the All Progressives Congress has emerged victorious in the Lagos East senatorial bye-election conducted in the state on Saturday.

    Independent National Electoral Commission made the announcement on Sunday morning, stating that Abiru obtained a total of 89,204 votes

    While, the main opposition party, the Peoples Democratic Party (PDP) and its candidate, Babatunde Gbadamosi, secured 11,257 votes.

    The APC candidate won with a wide margin in all the five local government areas in the senatorial district

    See results in all LGAs:

    Shomolu

    APC: 17,728

    PDP: 2,067

    Epe

    APC: 22,213

    PDP: 1,826

    Ibeju Lekki

    APC: 16,336

    PDP: 937

    Ikorodu

    APC: 19,204

    PDP: 3,766

    Kosofe

    APC: 13,723

    PDP: 2,661

    The announcement was made few hours after Babatunde Gbadamosi condemned the results released by INEC in the Saturday exercise, describing it as “manipulated”.

  • By-election: Abiru clears all 19 wards in Ikorodu, wins Epe

    By-election: Abiru clears all 19 wards in Ikorodu, wins Epe

    The Independent National Electoral Commission (INEC) has declared the All Progressives Congress (APC) winner of Saturday’s Lagos East senatorial by-election in Ikorodu division.
    Dr Andu Akala, INEC Local Government Collation Officer for Lagos East Senatorial poll for Ikorodu, declared the result at the INEC collation centre in Ikorodu on Saturday.
    According to Akala, the APC’ Tokunji Abiru, polled 19,204 votes to beat his closest rival, Babatunde Gbadamosi, of the People’s Democratic Party (PDP), who got 3,766 votes in all the 19 wards in Ikorodu.
    He added that ADP got 167 votes, ADC – 107 votes and AAC – 84, out of the 23, 966 total votes cast in the federal constituency election.
    Abiru also won the Lagos East senatorial by-election in Epe Local Government Area.Prof. Elijah Oyeyemi, INEC collation officer in Epe, said that Abiru won with a wide margin of 22,213 out of the total votes cast of 24,678.

    He said the total accredited voters was 24,736 while the total registered voters was 147,074.

    The INEC official said valid votes was 24,296, while voided votes was 382.

  • Lagos bye-election manipulated, I was clearly rigged out – Gbadamosi

    Lagos bye-election manipulated, I was clearly rigged out – Gbadamosi

    The Peoples Democratic Party, PDP. candidate in the Lagos East Senatorial District bye election, Babatunde Olalere Gbadamosi, BOG, has condemned the results released so far by the Independent National Electoral Commission, INEC, in the Saturday exercise, describing it as “manipulated.”

    Gbadamosi, in reaction to the exercise, said, “The election was manipulated and I was clearly rigged out.”

    Meantime, in reaction to BOG’s claim, the Publicity Secretary of the All Progressives Congress, APÇ, in Lagos, Mr Seye Oladejo, said, “We’re not surprised by Gbadamosi’s reaction to the results of an election that’s yet to be officially declared because he’s so predictable.

    “However, we acknowledge feelers from our agents who have reported overwhelming victory for Tokunbo Abiru. “We can only emphatize with a serial contestant with a consistent record of monumental failure and rejection at the poll.

    “The results as they trickle in have put a lie to his propaganda and fictitious opinion poll. “The electorate in the Lagos East Senatorial have spoken loudly and decisively.

    “The allegation of rigging is especially laughable with his loss in his ancestral home. “Hopefully, he can be rehabilitated politically to resuscitate his still-born political misadventure.”

  • APC picks outgoing Polaris Bank MD as consensus candidate for Lagos East senatorial by-election

    APC picks outgoing Polaris Bank MD as consensus candidate for Lagos East senatorial by-election

    National leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu and the Lagos State Chapter of the party have endorsed the candidacy of former Commissioner for Finance in the state, Tokunbo Abiru for the forthcoming Lagos East Senatorial by-election.

    The party’s state Assistant Publicity Secretary, Mr Abiodun Salami, gave the confirmation in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos .

    He said the choice of Abiru whose second term tenure as CEO of Polaris Bank expires August 31, was agreed upon by party elders, including the APC National Leader, Asiwaju Bola Tinubu.

    Salami said Abiru had been successfully screened at the party secretariat,adding that all the other aspirants had stepped down for him in agreement with the party.

    “Mr Abiru is the consensus candidate of the party; it is confirmed.

    “The elders, under the platform of Governor’s Advisory Council, met and consulted widely and they resolved on the choice of Abiru as the consensus candidate.

    “The choice has been endorsed by the National Leader of the party, Asiwaju Bola Tinubu; all the other aspirants have stepped down in agreement, it was a unanimous decision, “he said.

    Salami said the party would, notwithstanding, still follow the process of affirmation to validate the choice of Abiru as the APC flag bearer for Lagos East Senatorial District.

    On Kosofe 2 state constituency bye-election which will also hold on Oct. 31, Salami said the party’s candidate would soon emerge.

    He said a lot of work was going on to produce an acceptable flagbearer for the state constituency election.

    Salami described APC as the party of the people, saying the party will win both the senatorial and state constituency bye-elections.

    The Lagos East Senatorial District became vacant following the death of Sen. Bayo Osinowo, representing the area, on June 15.

    The Independent National Electoral Commission(INEC) also declared the Kosofe 2 state constituency seat vacant following the death of Mr Tunde Braimoh, lawmaker representing the area, on July 10.

  • Nigeria’s Health Sector has Massive Wealth Potential, says Abiru

    Nigeria’s Health Sector has Massive Wealth Potential, says Abiru

    Polaris Bank CEO, Mr. Tokunbo Abiru has disclosed that Nigeria’s health sector holds immense potential to create wealth for the country if an enabling environment is put in place for the sector to thrive.

    Mr. Abiru said this during a webinar hosted by the Bank on: ‘Managing Healthcare Business During & Post-COVID-19’.

    While speaking on the gap and opportunities in the health sector, he drew participants’ attention to the current state of medical services globally which according to him, are overstretched.

    He noted that Nigeria’s case is however peculiar owing to what he referred to as pandemic preconditions that existed in the nation’s health sector before the outbreak of COVID-19 but further re-enforced by the realities of COVID-19.

    “Despite these unfortunate realities, with the right policies and legislation, the health sector has the potential to create wealth for the country. This will include exploring ways to make medical services affordable by providing a well-defined and incentivised insurance framework to cover the formal and informal sectors. He further noted that Nigeria’s large population offers a huge demand potential for turning the health sector into a money-spinner for the country.”

    According to him, “If the right legislation is in place, medical tourism can be a thing of the past while providers of capital would have the comfort to bridge funding gap thus getting the sector to work optimally.”

    Dr. Abiodun Oyenuga, the quality assurance adviser of Medical Credit Fund, who spoke on the ‘Overview of the Pandemic and its Impact on Healthcare Business’ noted that: “There is a decrease in the ability to afford healthcare as a result of the business shutdown; loss of income and loss of jobs among several drawbacks. He however advocated for more participation from financial institutions by providing credits and financing; and also a renewed focus of Government in reviving the healthcare industry as these will gravitate towards improving patient satisfaction; as well as an increase in profit.

    With respect to expanding coverage, improved and timely access to primary health care services, Mr. Adil Shaikh, Chief Technology Officer of MeCure, explains that Telemedicine provides patients the opportunity to access online consultation, prescription and delivery of prescribed drugs from certified pharmacies across Nigeria. Mr. Shaikh noted however that telemedicine comes with challenges especially for providers of medical services who wish to explore the field; ranging from technology infrastructure, user education & general awareness and connectivity issues on the part of the consumer. He identified three major areas financial institutions could help to bridge the gap including: leveraging reach to generate awareness, innovating on digital payments, and partnerships with health institutions.

    On her part, Dr. Itunu Akinware, Managing Director Medbury Medical Services, advocated for effective collaborations within the health sector drawing from the saying, “You shouldn’t let a good crisis go to waste,” she emphasized that ‘now that a lot of light has been shone on the health sector and we can see the gaps in infrastructure, processes, and systems, this is the time for all of us to work together and ensure that we can improve healthcare in Nigeria”.

    Speaking from the perspective of what her organization is doing differently to stay afloat despite the impact of COVID-19, Dr. Akinware said, “we have developed a three-pronged strategy: to increase or maintain revenue; reduce or re-align cost and manage cash.”

    Mr. Omoshola Yusuf, Divisional Head, Medical & Technology, Hygeia HMO who spoke on how the increasing cost of care is being moderated by the HMO scheme encouraged Nigerians, employers of labour, as well as individuals, to embrace the scheme.

    Mr. Segun Opeke, Directorate Head, Lagos Business, Polaris Bank spoke on the product offering of the Bank to the health sector which he described as two-pronged: Polaris Healthcare Loan and the CBN 100billion healthcare support fund to cushion the impact of COVID-19 and improve the gaps/deficit in the healthcare business, going forward.

    “The Polaris Healthcare Loan has two variants: what can be available as overdraft facility for working capital purposes; purchase of consumables; discounting of invoices, etc. Interest is very competitive while Loan amount is subject to the applicant’s capacity”, Opeke explained.

    Continuing, Mr. Opeke noted, “There is also the Term Loans available for renovations, expansion, purchase of equipments for hospitals, vehicles, etc. depending on what the need is. Interest rate is in single-digit”, he added.

    Mr. Opeke in response to a question posed by a participant on the role of Polaris Bank in assisting healthcare providers access the CBN intervention fund, said that the NGN100 Billion Credit Support for the Healthcare sector, is to provide credit to indigenous pharmaceutical companies and other healthcare value chain players intending to build or expand capacity. Polaris Bank is at the fore-front and has over the past few months assisted a number of healthcare businesses to access facilities under the Apex Bank intervention Fund.

    In his closing remarks, Polaris Bank MD/CEO, Mr. Abiru said, “If there’s any major lesson to take out of this pandemic, it is for us not to lose the opportunity it presents to improve the quality of our health sector and provide a system that is beneficial to all; regardless of social status.”

    The webinar attracted thousands of participants from across the world comprising, individuals; business owners; students, lecturers and entrepreneurs across different sectors of the economy but majorly from the healthcare value chain.

    Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

  • ‘Abiru is de-marketing Skye bank with his combative policy’

    ‘Abiru is de-marketing Skye bank with his combative policy’

    A former management staff of First Bank plc. who recently retired from the leading bank has urged the management team of Syke Bank led by Tokunbo Abiru to concentrate on the task of taking the bank to the next level rather than dissipating energy in battles against the former Board and management of the bank.

    “Since Tokunbo Abiru’s assumption of office as the managing director of Skye Bank, he has embarked on a policy of total annihilation of the former management. He has embarked on avoidable battles with the former board and bank customers.

    ”Inadvertently, Abiru is de-marketing the bank with his combative policy. If you embark on a campaign against such critical stakeholders, you are indirectly demarketing your bank. The strategy has resulted in disastrous consequences for the fortunes of the bank. His actions have caused more harm to the bank. When you raise undue alarm with petitions and media trials, you are scaring away customers. The bank is the loser at the end of the day.”

    He said further: “As a management staff of First Bank, from our books then, we knew how some executive directors used their positions to line their pockets, setting the bank back by millions of dollars and billions of naira.

    “Although we did not hide our books from the regulatory authorities, we did not embark on petition writing to the Presidency or engage in media trials. We left the regulatory bodies to do their jobs. We couldn’t have engaged in such battles as the backlash would have had negative impact on our bank. I can only urge him to face the task of deploying strategic marketing initiatives to take the bank to the next level instead of this endless battle with the former management.”

    Only last week, an online publication, the capital.ng.com published a detailed story of how the then Executive Director with First Bank and now Managing Director of Skye Bank, Tokunbo Abiru was unceremoniously sacked from First Bank due to his unprofessional and unethical conduct while he held sway at the First Bank.

    The publication reported how Abiru allegedly granted a lot of nonperforming loans running into millions of dollars and billions of naira, aside from many infractions. The insinuation was strong that Mr Abiru benefitted enormously from the financial heist.

    The former management staff of First Bank, while reacting to the story, retorted: “our own strategy at First Bank is in line with the Banking tradition globally: Take any infraction to the regulatory authority and not to the political authority or media trial. If we had embarked on such strategies in respect of the issues raised in the report, we would have ended up rubbishing our institution. The regulatory authorities are strong enough to take necessary actions without creating a crisis for the bank.”

    “The present board under Abiru is adopting the worst crisis management technique in the history of Skye Bank and may not be able to take the bank out of the present problem, in spite of the unrestrained access to the low interest CBN largesse which is alleged being seriously misapplied.”

    Reflecting further on appropriate measures to stabilize a bank facing challenges, he said: “first, my years in the management level of the biggest and oldest bank in the country has taught one that the class of customers you need to give all the support are those you have extended facilities to and have shown commitment to repayment. Don’t take hasty steps that will make payment difficult. It is neither in your interest nor in the interest of the customer.

    “Second, the authorities should endeavor to constitute for banks, boards that are nonpolitical, Boards that are not the lackeys of political god fathers but professional managers whose strategies are not influenced by partisan political considerations.”

    On Skye Bank loans exposure, he quipped: “Banks are there to offer facilities. All banks including Skye offers facilities to customers that meet the requirements. Don’t forget the exposure you are talking even predated the birth of Skye. One of the legacy banks that eventually became Skye, Eko International Bank came to the merger with a debt overhang of over N8 billion in 2005. The exposure we are talking about did not happen in only two years of the immediate past Board. It took years to accumulate. What you need is to put right strategies in place to recover the loans, thereby increasing your capital adequacy.”