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Stakeholders Want Probe Of Alleged Fraud At Spring Bank

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15 years ago

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Stakeholders of Spring Bank Plc have called for a probe into the false allegation of N5.2 billion fraud levied against the management of Spring Bank Plc by Strand Capital Partners Limited.

The group, which was made up of various shareholder associations, was on a fact finding mission following the spate of media reports that the Group Managing Director/Chief Executive Officer (GMD/CEO) of Spring Bank, Mrs. Sola Ayodele and key past and present officers of the bank had been charged to court for an alleged fraud of N5.2 billion, for which she was declared wanted by the Police.

Speaking during the meeting, the Chairman of Ibadan Zone Shareholders Association, Chief Aderemi Oyepeju, said that such a probe was necessary to prosecute those behind such malicious and wicked allegations against innocent and hardworking bank officials who have ensured the safety of depositors’ funds.

Oyepeju said, “Having studied the allegations, it would appear that the real culprits in the matter are sacred cows being protected by the system. We condemn in entirety, what we have been reading in the newspapers and we use this opportunity to state categorically that we are behind the management of Spring Bank because we have been following this case even before this current management was appointed by the Central Bank of Nigeria (CBN).”

He stated that the time has come for all stakeholders of the bank to speak out in one voice in support of the position of the CBN, the Securities and Exchange Commission (SEC) as well as the Management of Spring Bank in this matter against Strand Capital Partners Limited and all other enemies of the bank.

He also called on all those that still owe the bank to pay up, threatening that all stakeholders are poised to join forces with the Management of Spring Bank Plc to seek the services of the Economic and Financial Crimes Commission (EFCC) to retrieve all outstanding debts to the bank.  

Speaking in the same vein, Alhaji Mukhtar Mukhtar, Chairman Shareholders Trustees Association called on the government to thoroughly revisit the fraud allegation with the view to permanently bringing the matter to an end.

He stated, “We would want the government to take another detailed look into the case. A situation where some individuals or companies would plot to defraud the bank only to turn around to threaten the management of the bank for not allowing their evil intention to succeed is not acceptable to us.”

The National Coordinator of the Shareholders’ United Front, Mr. Gbenga Idowu, called on the relevant security agencies to ensure the safety of the management and staff of the bank who foiled the attempt to defraud it while commending the transparency and integrity as well as handwork of the present management of Spring Bank, which have led to the return of the bank to the path of profitability.

In his own contribution, the National Coordinator of the Pacesetters Shareholders Association of Nigeria, Badmus Tunde, deplored the use of the media by negative elements in the society to manipulate the truth and misinform members of the public.

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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