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Indeed the end of an era of Igbo/Biafran irredentism: in memory of Dr Chief Dozie Ikedife OON.
Onye ka ikoro ya n’aku ifea? Onye ka ikpa ya n’aku ifea? Onye ka igede ya n’aku ifea? Okwa so dike ka ana akuru udi nkwa ma obu egwu aa. Asi kwa no Dr Chief Dozie Ikedife, Ikenga Nnewi, Ikuku ebu mkpu. Okoooo!!! Miri ezogo n’ajofia! Anyi ga eme aghaa? Nwoke mbuba teghete anaa! Hewu! Ya diba! It is with every sense of responsibility that I write this tribute to a tower of our time. I met Dr Ikedife in 2012 while we were preparing for the International Colloquium on Igbo Question: Before, During and After Biafra. But I have heard of him during his presidency of Ohaneze. We (Prof. Uzodinma Nwala, Prof. Nat Aniekwu and myself) went to Nnewi to seek for his endorsement for the colloquium. In his office at the Ikedife Hospital Nnewi, I saw a man who had zest and zeal to actualize any good thing Igbo. He immediately put a call through to someone that he felt was necessary to the discourse in question. In a giffe someone came in and I thought that I had seen a ghost. No one knew the kind of uneasy feeling I had as he came in. The man increased my trepidation and heart beat when he started talking. Ikenga thundered at him; ‘Akpunwa’ and he replied Ikenga. This was Debe Ojukwu. The exchange of chemistry that existed amongst us immediately led to an invitation extended to us to attend the afiaolu festival of Ndi Nnewi for the year. On the said day, we went first to obu Umudim where we had some deeper discussions on the essence of the colloquium. Debe was so happy and revealed to us that his father Dim Emeka Ojukwu had told him that Igbo emancipation will only come with the synergy of Igbo intelligentsia with the other groups.
Indeed, that was the beginning of a relationship with Ikenga Nnewi in which his exit has left a gap in my heart. Having bought into the colloquium, he swung into action such that he arranged for our team to address the South East Elder’s Forum that Ikenga was its chairman. The date was fixed and Prof Nwala and I was to go but Prof couldn’t get a flight and I was asked to address the august gathering of those revered elders that included the amazon of our time Chief Mrs Marie Okwo, Elder Dr K U Kalu CON, Prince Emeka Onyeso etc. It was at Dmatel hotels Enugu. Fate had it that I found myself going to address the elders in the company of Nnandi Kanu and Arinze Awogu. I was called in first and Chief Innocent Nwoga was chairing the meeting. After, presenting my message, Ikenga Nnewi moved that I be made an honorary member of the elders forum. Then Kanu came in with his message of undiluted Biafran emancipation and enthronement. It was so forceful that Chief Nwoga left on the excuse that he wanted to ease himself but Ikenga was excited and invited Kanu and I to Nnewi. He showed uncanny courage. Ikenga made sure that the colloquium was a success. It was at the last day of the three-day event at the Enugu residence of Prof Barth Nnaji that ADF was birthed and Ikenga became its BOT chairman.
Through out these periods Ikenga never left us in doubt as to his love for Ndi Igbo and Biafra. For instance in 2012, himself, Gen Achuzia, Justice Ozobu, Chief Debe Ojukwu, Bishop Enyioha and others have instituted a case at FHC 1 Owerri to make case for Biafra reinstatement via legal means.
I learnt several things from him these almost five years of close working relationship with him. Barely a year ago he had invited his darling ADF to witness his celebration by Otu nchekwa Oha at Enugu. As people gave testimony on his person, I raised hands to address the audience but could not as the event was getting very late. I went to Nnewi and promised him to send my own to his watsap promising him that it was ideal that we celebrate our own while they lived.
Unfortunately, am making part of it public as my eulogy to mark his triumphant exit. He made me behave as if there are no further time left for any other thing. He told us in 2012 that he was on the departure lounge having parked his bags & awaiting final departure. I recall that he was always prompt in attending meetings and had never slept over without going to Nnewi. I thought that as a medical doctor, he was always minded to caring for his patients but this was not all. He reminded me one day at the DMGS premises at Onitsha that he could not leave his girl (pronounced gal) friend. This gal friend was Ikenga’s pretty wife. What a family man? I had never visited Nnewi without prompt attention: by June this year, I had gone to his hospital with Prof Nwala and a certain nurse came with a folder of a sick person; when I told him to attend to them, he reminded me that he had served Nnewi for over 55 years and that the liberation of Igbo- Biafran was uppermost in his mind.
What a level of commitment to ones people? That day he told us that he was having stomach health challenge namely indigestion but would use the opportunity of ADF USA tour for medical check up. Prof Nwala assured him of our prayers for his quick recovery. He laughed and rejected such prayers; assuring us that he had done his best and that he was happy should it be God’s will to allow his exit.
Ikenga made newspaper headlines every time there was need to speak for Ndi Igbo. I remember in 2015 a certain controversial headline credited to him that he was APC after he had gone to visit Buhari in the company of Generals Ike Omar Sander Nwachukwu and Mommah. There were barrage of condemnations and aspersion against him and having known him the much I did I went to Nnewi. On arrival, he heartily welcomed me and said he knew why I came. That it was because of the ugly headline and I denied but assured him that I was passing bye and found it irksome to pass by without paying courtesy visit but that was my reason for coming.
He told me that he went to see Buhari at the instance of Dr Ogbonnaya Onu. It was at the time we thought that PMB was going to appoint an Igbo SGF. He showed to me the text of his press statement that was given such misleading headline. I left very happy and satisfied.
So many people have given lots of testimonies of Ikenga such that we can never exhaust our feelings. Is it his towering achievements as Ohaneze PG- he left office immediately his tenure expired? Is it in the medical profession or community rulership? I must not fail to note Ikenga’s profession of African Traditional Religion (ATR). He believed even unto death that there is nothing wrong with the Igbo mode of relating with God. In fact, as an anthropologist, he felt that ATR is of its own right better than Christianity as practitioners of ATR were more puritanistic. Then came the last week of his sojourn here. I had called Prof Nwala on a certain Wednesday and was told that he was with Ikenga. He further told me that it appeared that he has recuperated reasonably and will leave for Nnewi the following day. In the evening of Thursday, I called him to ascertain whether he was home and how he fared. He said, ” Prof am back but was told by the doctors that I was in very bad shape”. I retorted that they are human doctors and that we shall continue to pray for his quick recovery. He laughed and told me that I should add the number of years that would be extended into mine as he has done his.
I assured him that I was going to come to see him by this Christmas. He said okay in a cynical way that only dawned on me by Tuesday evening when Dr J N Agbo called to break the ugly news. True to who he was, he instructed to be buried the following day at sun set when dikes are buried. On reaching to his house by past two in the afternoon, the atmosphere was charged with classical music. I joined the sage Chief Mbazuluike Amaechi, Dara Akunwafo of Ukpo till Ikenga was lowered.
Now that you have transited, I pray that you get befitting helpers to lighten your way at the great beyond. You are now a worthy ancestor. I am celebrating you with my gun salutes. Gaa ijee gi nke oma dike.
Dr Dozie Chukwuokolo
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In Memory Of Dr Dozie Ikedife-Dr Dozie Chukwuokolo
Buhari Pack & Go -Charly Boy (Remix By Gossip With Queen)
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OKOROCHA locks out OSHIOMHOLE, Imo APC Chiefs from stadium
NATIONAL Chairman of the All Progressives Congress (APC), Comrade Adams Oshiomhole, and Governor Rochas Okorocha of Imo State were yesterday locked in a fresh spat after the state government allegedly denied APC the use of Dan Anyiam Stadium, Owerri for the flag-off of its governorship election campaign.
Oshiomhole branded the governor’s action anti-party and derided his style of governance. Although Okorocha is an APC member, he is vehemently opposed to the party’s governorship candidate, Senator Hope Uzodinma, whose election he has threatened to work against. The governor, who is supporting his son-in-law, Uche Nwosu, for the governorship race on the platform of Action Alliance (AA), fired back at Oshiomhole, dismissing the allegation that he denied Uzodinma the use of the stadium as untrue, adding that only Oshiohole could believe it. Okorocha and members of the state cabinet boycotted yesterday’s campaign of APC.
Oshiomhole said: “For the workers who no longer know what a pay day looks like, I bring a message of hope. “When a governor will look at the face of his people and say there is money to do other things but no money to pay those who are working for the government. “I bring a message of hope that appointments into your government will be made on merit and not on family connection. “I bring a message of hope that when we talk of happiness, we will not domesticate it in the hands of a sister; that the happiness of the great people of Imo State will be the primary purpose of government under Senator Hope Uzodinma. “I bring you a message of hope that in constructing buildings and building roads, they will be based on due process. “One contract will not be awarded to three people. If it must be awarded, it must not be awarded to in-laws; it will be awarded to genuine business men and women of Imo State.
“I bring you hope that never again will your governor look at your leaders and abuse them because democracy is about people. “I bring you a message of hope that never again shall we govern on the basis of family connection: whether you know somebody or you don’t know somebody; you married from me, I didn’t marry from you; that shall not be the basis of winning the next election. “I bring you a message of hope that your money will be used to develop Imo land. “And through you, I bring a message of hope to the traditional rulers; that they will be able to preside over their domains without being intimidated by the governor. “I bring you a message of hope that from now on, we will govern in a way that will leave no man in doubt that democracy is government of the people by the people and for the people.
“I want to assure those workers who have been lamenting, those families whose husbands have not been paid for six months to nine months, and I want to assure those pensioners that the bailout money which President Buhari gave to governors, including the governor of Imo State, that was not used for the purpose, that money will be retrieved and our pensioners will smile again. “Never again will a governor of this state look at you in the face and say that your salary depends on when he wants and not when it is due. “Never again will someone use your money to print posters with a President Obama when he is doing the opposite of Obama. “I bring you assurances of hope that you are going to have a governor who will lead you by the power of personal example. “Let me say it without fear of contradiction that those who are printing President Muhammadu Buhari’s posters, putting his face and their own faces because their faces are unknown, their party is unknown and they will put Buhari’s face and put the logo of an unknown party, those ones are fake.
“President Muhammadu Buhari has APC as his party. He is our presidential candidate. President Muhammadu Buhari believes in and has adopted Senator Hope Uzodinma as the APC governorship candidate. “We want real democrats that will accept the will of the people. How can you explain that an APC governor will deny an APC candidate the use of the stadium that is built with tax payers’ money from Imo State?” Switching to pidgin English, Oshiomhole continued: “I hear say yesterday he talk am say he no wan give stadium because when he dey contest against (former governor Ikedi) Ohakim, he talk say Ohakim no give am stadium. So, he too go copy Ohakim. I say e good oh! If you copy who fail exam, you too you never fail? If you copy who fail exam, what will you get? He who copy failure will find failure awaiting him.”
“The Stadium is the property of Imo people and Chief Uzodinma would not have been denied the opportunity of using the facility for the flag-off of his campaign if he had asked or applied for it. “He never applied to use the stadium, especially when a press release had been issued days before the flag-off of his campaign that the governor had directed that the stadium should be released free to political parties and candidates who would like to use it for their rallies or for other political activities. “As usual, Chief Uzodinma wanted to use the stadium issue to blackmail the governor and to continue to deceive men like Oshiomhole.
“The truth is that Chief Hope Uzodinma cannot raise up to one thousand people, talk more (sic) raising a crowd that would fill the stadium. “He does not have the capacity. He knows his handicaps. Where would Chief Uzodinma get the crowd to fill the Stadium? “Last time, he published a crowd of an event that took place in the north as the crowd that graced his rally when he was named the candidate of the party. And Senator Araraume’s men also used the picture of the same crowd. We exposed them on that. “Men and women of goodwill should ignore Chief Uzodinma’s claim for who he is.”
Access Bank Leadership Against Merger With Diamond Bank- DBN Shareholders
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We, the Association of concerned shareholders of Diamond Bank have confirmed from the Leadership of Access Bank that they did not sanction or approved the ongoing discussion between Pascal Dozie, Uzoma Dozie and the Management of Access Bank over a forced acquisition of Diamond Bank, This is a plot by the CBN Governor, Emiefiele to use Access Bank as a conduit to acquire Diamond Bank. His ternure is drawing much closer to an end and he is looking for viable investment opportunity to retire with.
We have heard many stories from different quarters including that of the Chairman of the board and the Non executive directors highlighting the accounts of what transpired in the board meetings and have decided to fight this injustice and greed with our last sweat and blood. We will not allow our hard investment to be eroded without fighting. PGD and Uzoma’s greed is the only reason for allowing Access Bank take over and not the interest of all stakeholders including the shareholders, Board and staff of the Bank.
PGD took a credit facility from GT Bank in his personal capacity (Not the BANK) to buy back the shares of Actis just for his son to be CEO of the bank. he also failed to pay back the loan
upon maturity and restructured through Access Bank and now we are here, he want to mortgage the life of thousands of people just because of selfish reasons. We will resist all attempt for this deal
to sail through.
We have also gathered from a reliable source that Emefiele has promised Uzoma Dozie and his Father a sum of One billion naira and Seven hundred and fifty million naira (N1bn & N750m) respectively for facilitating
this deal including allocation of shares in the new Bank. this is after the Son has run down the Bank with his blatant incompetence and lack of strategy. Shares of the Bank was about N7 (seven naira) when
the previous GMD left but has falling to about 60 -70 kobo today. We have not collected a dime in the last 4 years as dividend and now Pascal Dozie and his brat Son are planning to sell the Bank for their own selfishness. This is so sad and we will not allow it to happen.
![]() In a bid to strangle all opposition in the board, they are tactically using the young company secretary Uzo Uja to perpetrate unprofessional conduct by altering the board minutes of meetings in order to suppress information. We have consulted our Legal team and will soon charge the
company secretary to court. her conduct is capable of defacing the image of the legal profession that we believed as the last resort to serve and deliver justice.
We have gathered enough signatures for vote and will make our representation to Securities and exchange commission (SEC) and Nigerian Stock Exchange (NSE) in the coming days. We cannot allow this Kangaroo take over to take place.
While we watch from the sideline the activities of Emefiele and his cohorts, We are making formal presentation to the Ohaneze Ndi Igbo Union to call Mr Pascal Dozie (PGD) to order, his action on this matter is selfish and against the ideals of the union to always fight for the
interest of the Ibos. This is another Ibo bank being sold unjustly.
We wish to appreciate and commend the bravery of the Chairman of the Board, Mr Seyi Bickerstheth and other directors who are standing in the interest of the shareholders and the staff of the Bank, we are with you in this struggle and will stand by you any day.
We will also like to assure the staff of the Bank that Diamond Bank is a very good brand and will not be allowed to sink. Talks are ongoing with Calyle Group to raise more capital, New Management will resume on January 3rd 2019, and we are confident that
the share price will rise up to N5 in the next one year. Please go about your normal business and be assured that we are behind you.
We are copying the Senate Committee on Banking and other financial institutions, SEC, NSE, CBN Governing council, ICPC, EFCC and the Presidency to also look into the events
unfolding in the financial space where the Government is toiling everyday to attract new investment from foreign climes. we will also be taking a full page adert in the major newspapers to provide
the true information to the public on this.
![]() We, the concerned shareholders of Diamond Bank have secured an appointment with the Vice President Osinbajo and will be making our
presentation to him of the events in the last 4 years since Uzoma became the CEO of the Bank. We will also share the stiffling of Calyle group investment to recapitalise the Bank by PGD as this
is viewed as a set back to the Vice president’s drive to attract foriegn investment to Nigeria. this is capable of negatively impacting the goverment’s ambitions of making Nigeria an investment friendly nation.
Signed
Chief E. O. Orji and Mazi C Onwunna
cc:
Securities and Exchange Commission
Nigerian Stock Exchange
Nigerian Labour Congress
Ohaneze Ndi Igbo Union
National association of shareholders
Office of the President
Office of the Vice President
CBN gov
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2019: My Verdict-Ndubuisi Anaenugwu
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2019 Election : My Verdict
Those who know me and those who have absolute confidence in my sense of judgement would attest to the fact that I have remained consistent in my thought pattern for the past 7 years.
As a reminder, I believe that Nigeria is work in progress and my attention is always on the skewed structure of Nigeria . I am more interested in the institutional development and building system of democracy than sharing handouts to individuals.
I do not write for money but I write for the generation to come.
During the last year’s gubernatorial election in Anambra , I appealed to our dear people to vote for APGA not because of Dr Obiano or Dr Okeke but to retain the institution of igbo political heritage. Nigeria is still work in progress and as a result, the two most important offices in Nigeria are the office of the President and the office of the Governor.
My 2019 election verdict will concentrate on the individual politician not political party and for emphasis, no political party in Nigeria today is ideologically driven: they are all playing buying and selling brand of politics .
For this week, I will consider the top contenders in Anaocha – Njikoka-Dunukofia federal constituency.
Hon Dozie NwankwoDozie Nwankwo has the support of the institutions(like Church, Town Union Leadership, Traditional Council) within the three local government areas.Onyendozi is a good man and fine gentleman with philanthropic endowment. He has given ‘lives’ to many families and the ruling party APGA will be his strongest bargaining power. Unfortunately, Dozie Nwankwo does not seem to understand the ideals of democracy.Onyendozie remembers the electorate when the election draws near and has proven to be too busy to organise town hall meeting to engage the people that elected him on the legislative business.He is part of the political class that has watered down the power of the people in selecting their Leaders. He believes in the power of deep pocket to buy over the angry and frustrated people who are too poor to understand political analysis. But this election will go beyond sharing of money to sharing of ideas and sadly Onyendozi has no idea to share.
Hon Val AyikaBarr Dr Val Ayika is another good man with oratorical prowess and linguistics expertise. He has acquired legislative experience at the State level . His major setback is being part of a big political family – PDP where the party ticket was hotly contested and it is alleged that the ticket he is holding has not been settled legally. This is a distraction to Hon Val Ayika who needs all the concentration to convince the electorates. Again,those hired to promote Hon Ayika achievement(s) on social media could not understand the constitutional responsibility of a Legislator. It is not about borehole, paying school fees, building drainage etc .It is about strengthening the institutions of democracy and organising town hall meeting(s) to engage the people to actually know what they want. Party is a platform to win election but once election is won, the winner goes to work to represent the interest of the people not the party members. For four years that Hon Val Ayika represented his constituency, I have not seen or read where the communities were carried along on the legislative processes. We want to see debate on this.
Elijah Onyeagba of APC is among the emerging new political order. He came from the corporate world to appreciate institutional development. He connects with the young and aged and has the capacity to throw surprises in the coming election. His party may not be popular in Alaigbo but Nke bu Nke Anyi mantra will not work in the coming election. People will vote for individuals not for Party.
Elijah OnyeagbaElijah Onyeagba popularly known as Igba Ka Igba has promised to set up a committee on town hall meeting to interact with the people he will be representing on a periodic basis. He has actually contracted a team to ascertain what the people want and will be going to Abuja to represent the interest of the people that elect him. It is better to go with a man with ideas than a man who has no content but believes so much in sharing money.
To me, it is about building the institutions of democracy and educating the people on their rights as citizens. If we have the records of budgetary provisions for constituency projects, then you will understand why we as a people are poor. Why all the factories in our various communities have been shut down while our political Leaders cruise about using constituency project money to build private concerns.You will understand why the youths are jobless or receiving peanuts as monthly salaries.
This analysis is my personal views on the political activities around me and I will continue to keep us posted. Share and let me have your comment.
ndubuisi
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CBN okays Access, Diamond merger
THE Central Bank of Nigeria (CBN) has given a “No Objection” nod to the merger plans of Access Bank Plc and Diamond Bank Plc, the boards of both banks said yesterday.
The deal is expected to be completed in the first half of 2019. Transaction completion is subject to Access Bank and Diamond Bank obtaining shareholder and regulatory approvals (CBN, the Securities and Exchange Commission (SEC), the Federal High Court (FHC) and the National Pension Commission (PenCom).
Following the signing of the Memorandum of Agreement and announcement of headline terms, which valued Diamond Bank at approximately N72.5 billion (about $200 million) and will see Diamond Bank shareholders receive N3.13 per share in cash and shares, Access Bank and Diamond Bank are announcing further details, including the rationale and benefits of the deal, the estimated cost synergies, the capital management plan and the timetable.
The merger will form a leading Tier 1 Nigerian bank and the largest bank in Africa by number of customers, spanning three continents, 12 countries and 29 million clients.
It will bring also together treasury, risk management and corporate banking expertise with strong retail and digital banking capabilities to create a financial institution operating across the full suite of products for all customer segments.
The transaction will be concluded via Scheme of Merger following Access Bank and Diamond Bank Court Ordered Meetings billed for March 2019 to approve terms. Subject to shareholder approvals, final approvals by SEC, CBN and PenCom regulatory and FHC sanction are expected before the end of first half of next year.
Cost of synergies conservatively estimated at N30 billion per annum, pre-tax, to be fully realised within three years post-completion.
Further revenue and balance sheet synergies are to be evaluated by joint implementation committee.
The pro-forma capital position of the merged bank will be in full compliance with regulatory requirements for significant financial institutions with an international banking presence.
However, in order to meet international standards of best practice and ensure a robust capital buffer, both banks expect to achieve a post-completion Capital Adequacy Ratio (“CAR”) of 20 per cent at the bank level and 22 per cent at the group level.
The key elements are – Diamond Bank to take further impairments in line with IFRS9, to be reflected in year end 2018 results.
Access Bank has finalised terms and obtained regulatory approvals for a Tier II capital issuance, which will raise $250 million, available for drawdown in January 2019.
Commenting on the proposed merger, Access Bank’s Chief Executive Officer (CEO) Herbert Wigwe said: “I am delighted to announce that we have received the necessary regulatory approvals to pursue a merger with Diamond Bank, one of Nigeria’s foremost digital and retail banks, subject to final regulatory and shareholder approvals.
“The combination of our two businesses will create the largest retail bank in Africa by customer base and a very significant player in the Nigerian market. This is a huge step towards the delivery of our goal to bring the power of banking to millions of people across Nigeria and an exciting transaction for Access Bank and Diamond Bank’s customers, staff and shareholders.
“We have a clear plan to maintain our capital strength and are announcing today decisive steps by both banks to ensure their financial stability throughout the process.
“The overall outcome will be a stable institution with an extremely strong capital adequacy ratio of more than 20 per cent following completion of the merger, which will be a leading competitor in all the markets in which it operates.”
Diamond Bank’s CEO Uzoma Dozie said: “The merger is positive for all of Diamond Bank stakeholders, including customers, employees and shareholders. In particular, customers will benefit significantly through the unrivalled combination of the best of Diamond Bank’s retail and digital leadership with the size of Access Bank’s balance sheet, corporate names and geographical reach.
“In reaching this decision, the shared passion for leveraging Nigeria’s youthful and entrepreneurial talent, and a commitment to better outcomes through financial inclusion have convinced us that this is the right combination.
SOURCE :THE NATION
INSIDE STORY OF THE TRANSACTION IN DIAMOND BANK -Donald Ezenwa
The inside story in Diamond Bank you are about to read was copied from WhatsApp and did not emanate from BVI Channel 1 or her Directors.The Management of BVI Channel 1 owe it a duty to keep the public informed.The Characters mentioned herein are expected to send in the Bank Positiion for publication.You can contact BVI CHANNEL VIA bvichannel1@gmail.com
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INSIDE STORY
HOW UZOMA DOZIE RUINED DIAMOND BANK – Donald Ezenwa
I was a staff of Diamond Bank until recently, having joined in 2003. Let me place it on record that I am not particularly happy with Alex Otti just like other staff who love the bank. I have 3 problems with him.
One, why on earth would such a brilliant man leave a great job he took after almost 4 years to join the uncertainty of politics?
Two, why did he not think of the thousands of people he attracted to Diamond Bank, both staff and customers before pursuing this ambition?
Three, why did he succumb to the doomed demand of the Dozie’s to have their incompetent son succeed him against what we all knew about him as an astute man who stood up to the Dozie’s, stopped them from milking the bank dry and even cancelled contracts they gave to themselves including supplying generators, air conditioners and auxiliary staff? I hope Dr. Alex Otti will respond someday.
This write up was informed by an earlier one authored by one Emmanuel Chima alleging that Alex Otti ruined Diamond Bank. This is disheartening as same is a cheap set of lies which I suspect was jointly sponsored by the Dozie family and the Abia State government.
It would be nice to examine the Diamond Bank handed over by Dr Alex Otti and what is left of the bank four years later, under Uzoma Dozie and highlight how the young man actually ruined his father’s empire.
Truth be told, success and failure are predictable. It was clear to any one that cared that Uzoma did not have what it took to run a bank of the size of Diamond and a person cannot give what he doesn’t have. It is, however, not his fault that he didn’t have it, he had no opportunity to pass through the lessons that would have equipped him for the job, due to the silver spoon that never left his mouth from birth. So, when the push to chase out Emeka Onwuka (Pascal’s look alike MD) began, it was for Uzoma to inherit his father’s business. The foreign investor in the bank then, Actis, knew that trouble was near. Actis pushed back vigorously and threw in many options except Uzoma. It was clear that Ohis Ohiwere or U. K. Eke, both Executive Directors were the better candidates to take the bank to the desired height but Uzoma asked what their fathers were doing when his own father was busy setting up a bank.
Actis maintained its resistance and compelled the board to open the vacancy to the public for participation. That was how Alex Otti was identified and approached by KPMG to compete for the job. It was an open interview session where both internal and external candidates were grilled, and at the end, Dr Alex Otti emerged the best candidate in spite of insider information available to those applicants already in the bank. Upon resumption, the Dozie family gave Alex one unofficial job description -to prepare Uzoma to succeed him. But how can you prepare someone who is not prepared to learn. Note that this was in spite of the fact the Dozie’s did everything to frustrate the emergence of Alex as the MD.
Before delving into how Uzoma destroyed the bank, let’s look at the Diamond Bank that Alex Otti handed over to him. As the GMD of the Bank Dr. Otti was responsible for coordinating and directing the bank-wide strategy execution and monitoring framework by working with the Board and Management across several functional and diverse areas. The vision was to strategically position the bank among its peers across all performance indicators. The thrust of the engagement strategy was to lead the Bank and transition it from the identified four key areas of improvement which are; People (Disillusioned people with low staff morale), Culture (Disintegrated corporate culture), Strategy (Weak sense of ownership, monitoring and passion to execute) and Brand (lack of visibility and poor customer’s perspective).
In light of these, he designed a monitoring mechanism that required setting up clusters headed by Executive Directors to monitor for performance around 227 objectives, 446 Strategic initiatives and 1,778 action items. The mechanism achieved over 80% of its planned objectives with key performances highlighted below;
1. Introduction of an automated Performance Monitoring framework and Balanced Scorecard which reduced subjectivity and accurately captured staff performance.
2. Facilitated the establishment of Diamond Academy- a world-class training institute that ensured holistic development of the Bank’s human capital.
3. Significantly grew the Bank’s Return on Equity from a negative position of (12%) in 2011 to 21% in 2013 thereby increasing the ranking of the Bank from the 15th to 5th most profitable bank in the Industry.
4. Created a customer-centric culture in all branches through a robust internal communications strategy that fostered product knowledge and sound customer service orientation in the bank. This moved Diamond’s ranking upward to No. 3 in 2013 according to the KPMG customer satisfaction rating.
5. Deposit base grew from N565billion in 2011 to N1.02trillion in 2013 and further to almost N2t by September 2014, a month before Alex Otti left. The bank’s ranking from No. 11 to No. 6 among all the banks in Nigeria.
6. Improved communication and employee’s motivation through the introduction of the quarterly GMD’s podcast and awards giving a sense of belonging to all employees. Also created a direct communication window with all staff directly through a committee to support free flow between executive management and staff.
7. Attained a “Best Place to Work” status by constantly improving on staff welfare, communication and feedback system. Implemented an internal survey that tracked the adoption of the strategy and the general perception of the bank by people. The result was that the Bank was ranked No. 3 among banks by the Jobberman survey in “the best financial Institution to work in” category in 2013. Improved staff compensation across board such that Diamond became the best paying bank in the country.
8. Categorized as one of the 8 systemically Important Banks (too big to fail banks) by the Central Bank of Nigeria in 2013.
9. Strengthened the Bank’s Brand that became many times more visible and attractive
10. Equipped the Bank structurally to focus strategically on the retail business leveraging technology and human capacity development.
11. Restored the banks performance in various sectors of the economy namely:
a. Oil and Gas sector
b. Transportation sector
c. Telecommunication sector and
d. Power sector
12. Set up a full fledged subsidiary, Diamond Bank UK Plc in London.
13. Increased the presence of the bank in Francophone African countries to Ivory Coast, Togo and Senegal in addition to the branches in Benin Republic.
But what did Uzoma do? First he brought back the eye-service culture among staff whereby every staff is clear that what mattered was not his contributions to the growth of the bank or individual staff ability but how the staff is perceived by the boss. So, focus changed from performance to staff accent (the more American, the better), staff carriage, staff dressing (off course he led the way with the introduction of dress-down and “keep mustache” culture). Staff did only enough to keep them from blame. No one went the extra mile to satisfy a customer. Fear was enthroned and morale dampened. The fear in the bank was introduced in a way similar to Buhari’s comment about corruption which sent investors away: Uzoma’s phrase was that there were “evil people” in the bank who must be identified, fished out and exterminated. The problem was that there was no scientific way of identifying the evil people, so this led to his second mistake. – the distasteful and indiscriminate sack and irrational staff disengagement.
He sacked almost all the capable hands he could identify within the bank, especially anyone who did not understand politics enough to warm up to him with fake loyalty. Recall that his first assignment after he took over was to sack senior people he tagged “Alex Otti loyalists”. He failed to understand that the so called loyalists were actually the best performers in the bank. He promoted mediocre staff with little or no experience to leadership positions and killed courage for healthy debate in the bank. All of his staff disengagement was distasteful and thoughtless, without any regard for the impact on the customers of the bank. For instance, he fired everyone in a strategic department in the bank for organising a send -forth for the head of the department he had earlier sacked. You can hardly see any ex-Diamond bank staff that has a positive thing to say about the bank. Once in a while every company could find the need to disengage staff but how they go about it makes the difference. When Standard Trust Bank took over UBA the staff disengagement was so clinical that many UBA staff applied to be disengaged voluntarily. In Shell Petroleum, (SPDC) people are disengaged in such a way that they continue to promote the interest of the company. Even in Alex Otti’s time, people were disengaged with a human face and generous packages. But in Uzoma’s Diamond Bank, every staff is expendable with no compensation. Talk to any ex-staff of Diamond bank and you will hear that what is happening now is God fighting for them.
It is important to state that most of the bad loans the bank is carrying today were inherited as legacy loans created under the Senior Dozie and Emeka Onwuka. The major ones include:
1. Geometric Power- N35b
2. Lone star Drilling (owned by Late Chief Idisi) – N13.3b
3. Peugeot Automobiles Nigeria – N12b
4. Robert Dyson and Dikett (owned by the Late Sony Odogwu) – N10b
5. Foby Engineering- N8b
6. Loanseed Ltd (Sunburn yatch) N5.6b
7. Gitto Construction (Owned by the Late Italian Mr Gitto)- N5b
8. Harpel Nig Ltd (owned by Late Emma Nwokoro) -N4.8b
9. Frajend Motorcycle-N3b
10. Leaders & Company (Thisday) -N2.5b.
Besides, there are several hundreds of other smaller ones. Under Otti, the bank made provision of N20b yearly for these loans he inherited. This was possible because he was making profit from where the provisioning could be charged. Under Uzoma, the bank was hemorrhaging and could not accommodate the huge provisioning. Alex Otti never hired any new person in the Risk Management function except the Head who went to Finbank on Special CBN assignment from Diamond that he brought back to the Bank. So, the allegation of firing staff he brought from First Bank is untrue.
Diamond bank planned to be the leading retail bank in Nigeria, but Uzoma understood that to mean neglecting other areas of banking. Retail provides stable deposits but the income from retail cannot accommodate possible provisioning requirements in Corporate and Business banking. Having sacked most capable hands that managed corporate and business banking accounts, the bank had no choice but to face new provisioning on the loans. One would have expected Uzoma to seek for and hire staff from the industry comparable to those he was letting go, but remember that a leader only attracts people like him. It is also true that most of the new problem loans in the bank were originated while Uzoma was Executive Director covering those areas and also a strong member of the credit approval committee Management Credit Committee, (MCC) which he frequently chaired in the absence of Alex Otti, so he signed off on all of them. However, he could not manage those accounts himself in the absence of Alex Otti because Uzoma was never given to visiting the bank’s customers and some of them interpreted this as arrogance. But the real reason is that he had nothing in common with those customers. Nothing to talk about as their interests were miles apart. While these corporate customers were interested in the economy, politics, the weather etc. it is on record that Uzoma would rather stay in the office where he would visit one female staff after another, drinking brandy with them during office hours. He is reported to constantly refuse to join his staff to visit big customers insisting he would rather speak to them on Skype or FaceTime.
His other interest was how to contact and date the prettiest girl in a magazine cover page.
That same interest was not kept outside the bank. It is a well-known secret that Uzoma does not keep his relationship with female bank staff at the professional level. He also does not know how to differentiate between a single girl and a married woman as long as the person works for Diamond bank and is good looking. In spite of his beautiful wife he condescends to unimaginable proportions to intimidate female staff to succumb to his sexual advances- thus falling guilty of the seventh corporate sin.
The author of that rubbish made reference to the loan to Geometric power. He conveniently forgot to say that Geometric loan was booked several years before Alex joined the bank in 2011 and that the bank stopped funding the project in 2009 and that loan had gone bad before Alex used his contacts to get approval for AMCON to take up a large chunk of Diamond’s exposure to the company to make room for continued funding of the project without breaching single obligor limit. He forgot to say that Alex and team completed the project before he left the bank. He forgot to mention that the Dozie family got enmeshed in the project with Pascal “miraculously” becoming a shareholder in Geometric. Prof. Berth Nnaji is still alive and can be contacted for confirmation.
Mr. Chima forgot about the Sunburn Yatch where in 2005, the bank lent N5.6b to a strange company with a strange business model which acquired the boat and the loan naturally went bad. The bank was incapacitated for years while the boat was rotting away in the Bonny camp waters. It was only an Alex Otti that could sell the boat and move it on Christmas day in 2012 to the high seas and by the time the company knew it, the boat was already in the Middle East and Diamond Bank was paid.
When it became clear that he had no strategy to run the bank, Uzoma started asset stripping to shower up profit. The first victim was Diamond Bank subsidiaries in the Francophone countries which he sold in a deal that people think was less than transparent. The next year, he sold Diamond Bank UK. Now there is nothing left to sell and the sh*t seems to have hit the fan. It is after 4 years that someone realized Alex ruined the bank. Hello!
Uzoma weakened the board very immensely to enable it come within his handling capacity. The current composition of the executive directors is such that no one can challenge his decisions. Four board members recently resigned from Diamond bank following disagreements over Uzoma’s leadership style. These directors had challenged Uzoma at their recent board retreat in Uyo for showing up with a private jet. They couldn’t reconcile the MD of a sinking bank flying in a private jet. They insisted that if Uzoma refused to leave, they would resign, and that they did.
But the blow that broke the Carmel’s back was the loan collected by Pascal Dozie, first from GT bank and later taken over by Access bank. The loan was used to take out the foreign investors, Actis who with the benefit of hindsight, were very smart. They insisted on exiting the bank when it was clear Alex Otti was leaving. They sold to the Dozie’s at a tidy N7.50 per share in 2014. They received over $125m from the Dozie’s at exchange rate of N160 per dollar. You should know what those shares are trading at today and where exchange rates are also. The foreign currency loan originally secured with MTN shares was now swapped with Diamond Bank shares with Access Bank. With the deterioration of the exchange rate, coupled with the tumbling of Diamond Bank share price, the gap between loan and collateral widened significantly, leading to the need for margin call by Access bank. Unfortunately, Pascal had executed a deed of sale of his Diamond Bank shares in favour of Access bank as part of the security for the loan. Thus, Access bank did not find it difficult to convince Central Bank of their right to take over the bank. This forced Diamond bank to approach Access bank with merger and acquisition proposal which they are currently managing in the press. Mr. Chima’s argument of borrowing from Access to keep Diamond afloat is another lie. It is indeed a private loan secured by shares of the Bank.
Finally, on the numbers, the records are there to speak for themselves. Below is a graph of the profitability of the bank in the years 2011 when Alex Otti took over up to 2017.
This graph originated not from Alex Otti nor Uzoma Dozie, but from the published numbers of the bank and the Nerve Africa. You need not take my word for it. You can check the records to reconfirm the claims. I speak because I am involved. I speak because the lies peddled about a fine gentleman that came to the bank and turned it around have been largely left unresponded to. I speak because I was a witness to the whole scenario. I speak because I know the truth. I hope the ungrateful “evil people” in and around the bank will stop this campaign of calumny and face their self-inflicted problems. I stand to be challenged by any one who has different facts. Though I have a whole lot more to say, I rest my case here for now.
Mazí Okwute
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Former Chief of Defence Staff Alex Badeh, is Dead- Killed by suspected Gunmen
A former Chief of Defence Staff (CDS), Air Chief Marshall Alex Sabundu Badeh, was on Tuesday shot dead in Abuja.
Marshall Badeh was reportedly shot dead on Tuesday evening by gunmen at Gitata, along the Abuja/Keffi Road.
The military has since recovered his remains, it was learnt.
Announcing his death in a couple of tweets on the official Twitter handle of the Nigerian Air Force, Air Commodore Ibikunle Daramola said, “It is with a heavy heart that I regretfully announce the unfortunate demise of former Chief of Defene Staff, Air Chief Marshal Alex Badeh, who died today, December 18, from gunshot wounds sustained when his vehicle was attacked while returning from his farm along Abuja-Keffi Road.
“On behalf of officers, airmen and airwomen of the Nigerian Air Force, the Chief of the Air Staff, Air Marshal Sodique Abubakar, commiserates with the family of the late former Chief of Defence Staff over this irreparable loss.
“We pray that the Almighty God grants his soul eternal rest.”
Badeh was born in Vimtim, a little town in Mubi Local Government Area of Adamawa State, into a family of peasant farmers. He attended Vimtim Primary School, Vimtim and went on to obtain his school certificate from Villanova Secondary School in 1976 before proceeding to the Nigerian Defence Academy. He was chief of Air Staff from October 2012 to April 2014 and, from that time, to July 2015, was chief of defence staff.
sun
Diamond Bank To Merge With Access Bank Plc
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Full Video: When A Hero Dies – Chronicle Of Dr Dozie Ikedife’s Sacrifice For Biafra.
The Life Death & Burial Of Legend
This video is the most challenging video I ever produce, while putting together the sacrifice made by Dr Dozie Ikedife, tear run down my chick like a waterfall.
Ikenga Nnewi has set a standard in Igbo land, if this video did not appeal to you, trust me nothing will ever appeal to you.
Every Biafran as a mark of respect to this legend show share share this video to everyone within your countact.
REST IN PEACE IKENGA NNEWI
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Hon Dozie Nwankwo
Hon Val Ayika
Elijah Onyeagba


