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INVESTIGATION: How Nigeria can resolve its multi trillion naira post-harvest losses INVESTIGATION: Poverty, shambolic education system keeping children out of school in Niger StateSPECIAL REPORT: In Northwest Nigeria, insecurity is fueling medical desertsNigeria as shock-horror skits, By Festus AdedayoINVESTIGATION: How Nigeria can resolve its multi trillion naira post-harvest losses INVESTIGATION: Poverty, shambolic education system keeping children out of school in Niger StateSPECIAL REPORT:...
The former First Bank staffer is, among other reliefs, demanding five hundred million naira in damages and twenty-five million naira in legal costs. It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall.“As a relationship manager, I worked under the supervision and direction of my branch manager and group head and signed official correspondence only after they had approved and/or signed same. I had no independent authority in relation to the grant or disbursement of loans or other banking facilities,” Mrs Ezenwa said.
In one case in 2012, she further alleged, an unsecured credit estimated at N2 billion was granted to Broadwaters Resources Company Nigeria Limited, which ended up being a conduit pipe used by Mrs Majekodunmi and Mr Onasanya to siphon monies from the bank. The claimant said the loan was never repaid. Mrs Ezenwa disclosed that such loans could not have been granted without the involvement of the board of First Bank, considering that the amounts involved were huge and above the approval limits of the executive directors, the vice president and the managing director of the bank.
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