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Founder of Leap Africa, Mrs. Ndidi Nwuneli has been named as the Keynote Speaker of January 9 Collective 4th Anniversary lecture scheduled for Tuesday, January 12th, 2015 at the MUSON Centre, Onikan, Lagos. Nwuneli, who is co-Founder of AACE Food Processing & Distribution, an indigenous agro processing company will be speaking on the theme: “SMEs the engine room of the economy; who’s talking to them?” According to Mr. Wole Olagundoye, the Chairman, Anniversary Committee, “Every year, we celebrate our anniversary with various activities, the high point of which is our annual lecture during which we debate and proffer solutions to burning topical issues affecting our nation. This year, rebuilding our economy is one of the federal government’s priorities hence we are focusing on SMEs, being the major driver of true economic growth” He stated that apart from Nwuneli, Kunle Sonola, Executive Director, Union Bank will deliver a speech as Special Guest while Bunmi Lawson, MD Acci...

1) Confirm that the bank's website address is the correct one.Scammers have produced fake websites that look like the original just to hoodwink people into submitting their authentic details 2)Do not disclose your Internet Banking User Name or Password to anyone, even when the person claims to be an official of the bank.     3)Please download FREE online protection software from Trusteer available within Internet banking to prevent fraudulent access to your account.      4)Do not give your Card details out on the phone or in response to any e-mail communication that you did not initiate.      5)Be on the look-out for unusual devices on an ATM as these could be used in reading your card details to fraudulently clone your Card.      6) Keep your Card in a secure place just as you would your cash.      7) Never keep your Card and PIN in the same location.      8...

Ori Adeyemo, a forensic accountant  and Managing Consultant of Forensic Consulting said the problem of Nigerian banking industry is Malam Sanusi Lamido Sanusi the Governor of Central Bank. Can we meet you and how long have you been in your profession? My name is Ori Adeyemo, I have been into Forensic Accounting Consultancy since 1997, but I got into it full time and professionally in 2006.  I am aware that the financial institution in Nigeria is full of fraud. Even the Capital market, Insurance and other institutions are laced with fraud. But what really catches my fancy is the banking industry and that’s what affects most Nigerians and there’s nobody or an individual that at one point or the other has not go to do with the banking industry. It’s basically the people that made me focus more on the banking industry and more especially when we have a country with a depressed economy like Nigeria.   Apart from the common Nigerians, what propels you in the profession? I...

By Niyi Tabiti Several branches of Intercontinental Bank that have been tagged 'not performing' has been shut down by Access Bank, the new owners of the bank just as over one thousand staff of the same bank  lost their jobs. Gistmaster gathered some of the braches of Intercontinental Bank shut down by Access Bank includes the one at Ikeja, Ibafo and Akute.Austin Edoja, the

 Farida Waziri, the Chairman of Economic and Financial Crimes Commission (EFCC), who was relieved of her job yesterday morning by the Nigerian government said she is yet to receive her sack letter.   In a short interview she granted a national newspaper, The Punch, Mrs. Waziri said she heard the announcement of her removal from office on television like every other person.   She told a correspondent that no one has communicated the new development to her in writing. Reasons for her sack? Well, some key players in international financial crime bursting agencies are not contended with the way she has been playing her role in EFCC but that is not to say she has not done anything at all. -Niyi Tabiti

 This is really a bank-customer relationship gone sour.HITV informed gistmaster that the closure of their office in Lagos yesterday is nothing but invasion despite a pending court case.  A statement issued in Lagos today by HiTV reads "On Monday, November 21 at about noon, heavily armed mobile policemen alongside men in suit invaded in a commando style, simultaneously, all HiTV offices in Lagos purportedly acting on some court order instituted by Guarantee Trust Bank Plc over a relationship/financial dispute between HiTV and the bank. The invading team brandishing a court order sealed HiTV offices thereby partially paralysing activities and causing disruption in its services which has resulted to the loss of signals in some of its Hi channels locally and to its international partners. For records purposes, we wish to state here that the invasion on HiTV property by agents of GT Bank was a total breach of the rights of HiTV as there is a pending case in cou...

 Spin doctors of Mr. Aigboje Aig-Imoukhuede the group managing director/ceo of Access Bank are already pushing his ambition as next Governor of Central Bank to limelight. The tenure of the incumbent governor of CBN,Malam Sanusi Lamido Sanusi, will expire next year.   Gistmaster gathered that the Access Bank boss is silently running a campaign that would get him the job through his connection with Nigeria president, Mr. Goodluck Jonathan.   He is considered as one of the closest economy drivers to the president. So he is doing all within reach to ensure that he is considered for the job.  One of his highest selling point is also condered his weakest. According to a source, Aig-Imokhuede and his deputy, Wigwe are jollificating over the aquisition of Intercontinental Bank, yet they have not answered the question of how they managed to acquire a bank  they are indebted to.   Going by recent comments of President Goodluck Jonathan on the achievement of...

In Nigeria, there are banks and there are BANKS. I am sure that you guys will agree that despite the recapitalization and confidence reposed in bank customers by the Malam Sanusi Lamido Sanusi, the Governor of Central Bank, Nigerians still want government to do more.   The other time, gistmaster asked some friends "Which Nigerian bank appeal to you the least and why?" Some of them were quick to mention Fidelity Bank, Unity Bank, Wema Bank and guess what? Most people don't even know that Afribank has changed name to Mainstreet Bank???  You can hardly find Wema Bank or their ATM anywhere near you, one said.  

Abisoye Fagade of Sodium Brands Solution, Pastor Ituah Ighodalo of Trinity House and Deji Popoola the ceo of Fina Trust Microfinance Bank Mr. Afolabi Oke, Executive director Global Swift, Pastor Ituah Ighodalo of Trinity House and Mr. Deji Popoola of Fina Trust micro Finance Bank Deji Popoola of Fina Trust Micro Finance Bank, Pastor Ituah Ighodalo and Mr. Feyi Akinbile, human resources practitioner Tolu Omoniyi MD Bobo Clothing, Pastor Ituah and Mr. Deji Popoola Pastor Ighodalo and Mr. Deji Popoola Pastor Ituah Ighodalo, Mrs. Yemi Oladunni of Eco Bank and Mr.Popoola As part of plans to celebrate the second anniversary of Finatrust MFB, Pastor Ituah Ighodalo of Trinty House joined members of staff and customers of the micro finance bank, for an early morning thanksgiving service held of the bank's head office in Ikeja, Lagos. - gistmaster

 Rotimi Onadipe,a Nigerian businessman is very bitter that the western union transaction he went to do at Skye Bank about two years ago is still the source of his problem till today. Onadipe who is already seeking every legal means to get his money back disclosed that he went to collect $3,300 dollars at one of the Skye Bank branches in Ibadan, Oyo State.   gistmaster.com gathered that after concluding all the necessary formalities,he was told told that the money had already been withdrawn 10 minutes after he released his secret number.  After investigation, two female staff of the bank were arrested and arraigned before magistrate court in Ibadan.They discharged in circumstances Onadipe as controversial.The magistrate also ordered a re-investigation into the matter. Two years later, Onadipe is still fighting hard to get his money.Already he had petitioned the Nigeria Bar Association and the Chief Judge of Oyo State so that they can investigate the magistrate who gave...

 Aigboje Aig- Imokhuede the group managing director of Access Bank Nigeria Plc is ecstatic about buying Intercontinental Bank off the shelf! Today in Lagos, the latest news reaching gistmaster indicates that Access Bank is coughing out 50 billion Naira to acquire 75 per cent of Intercontinental bank.  Aig-Imokhuede confirmed today in Lagos that Access bank has concluded all it needed to do to take over Intercontinental Bank. According to him, the merger would have a strong network of about 500 branches when it finally take off. Shareholders of both banks are also expected to vote at the end of September 2011 on the merger. It would be recalled that Intercontinental Bank, formerly managed by Mr. Erastus Akingbola was ' diagnosed'  of having serious toxic debt problem, amongst other several issues detected by the malam Sanusi Lamido Sanusi led Central Bank of Nigeria. -By Niyi Tabiti  

By Gistmaster.com Femi Otedola, a 43 years old Nigerian businessman once listed as one of the richest billionaires in the world (2009) by Forbes is in the eye of financial storm over the  monumental debt he owes five banks in Nigeria. The total debt of Mr. Otedola, the chairman of Zenon Oil is about 168 Billion Naira (Over 1 billion US dollars) as at December 2010. A quick break down of the debt portfolio shows that Otedola and his companies are owing with Zenith Bank N68 Billion, while the one of GTBank is  stood at almost 31 Billion Naira, FCMB says Otedola is owing close to 19 Billion Naira while that of Access Bank Stood at N15.526 Billion Naira. The one of UBA reads N36.862 Billion. gistmaster.com learn that some of the banks are always making moves to take over his property in highbrow Victoria Island, Ikoyi,Abuja, Port Harcourt and other places. The shares also use as collateral for the loan will also go into it. At the moment, the total asset used as security for the debt is sa...

•Removes Spring Bank directors •Pumps in N200bn loans The Central Bank of Nigeria (CBN) announced the result of the audit of another 14 banks, sacking the chief executives of three banks; namely Bank PHB, Equitorial Trust Bank and Spring Bank. The CBN also sacked business mogul and chairman, Globacom, Chief Mike Adenuga from the board of Equatorial Trust Bank as well as all the non executive directors of Spring Bank. The affected chief executives are Mr. Francis Atuche (Bank PHB), Mr. Ike Oraekwuotu (ETB), and Charles Ojo (Spring Bank) The CBN also announced the appointment of new chief executives for the three banks; namely Mr. Cyril Chukwumah for Bank PHB Plc; Mr. G.O. Folayan for Equitorial Trust Bank Plc; and Mrs. Sola Ayodele for Spring Bank Plc. The new chief executive officers resumed duties at the banks yesterday. However, hours before the CBN hammer, former MD of Bank PHB, Mr. Francis Atuche, was said to have “resigned” his position and disappeared. The Central Bank...