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Tag: SKYE BANK

  • Skye Bank CEO urges lenders to deepen financial literacy

    Skye Bank CEO urges lenders to deepen financial literacy

    The Group Managing Director/CEO, Skye Bank Plc, Tokunbo Abiru, yesterday urged banks to deepen their support for financial literacy among youths and and promote the operations of Small and Medium Enterprises (SMEs).

    Speaking at the end of 329th meeting of the Bankers’ Committee in Lagos, Abiru disclosed the Committee’s commitment and plans to continuously improve the level of financial literacy among the youths as well as create more awareness to support the operations of microfinance banks.

    The bank chief said the committee unanimously agreed that the banking industry should unite to ensure that financial education is promoted in schools across the six geo-political zones.

    He said the committee agreed that each of the commercial banks take at least, two schools in each of the six geo-political zones.

    “Part of what we discussed was the need to continuously improve on financial literacy. And one of the resolutions is for the entire industry to act as one to play an active role in the forthcoming World Savings Day Celebration on October 30,” Abiru said.

    He explained that part of the role of the banks was to ensure that each of the banks take on at least, two public schools in each of the six geopolitical zones of the country. “We suggested that at least 12 public schools will be taken up by each bank for this years’ event,” he said.

    Abiru also disclosed the Committee’s commitment and plans to promote Small and Medium Enterprises (SMEs). “We also talked about Small and Medium Enterprises (SMEs), general commerce, general commerce, manufacturing, micro-finance bank and other banking-related products so as to create awareness as our nation gets older and stronger in banking services,” he said.

    Skye Bank Plc has been at the forefront of mentoring of students in financial literacy as endorsed by the Bankers’ Committee. The lender has taken the financial inclusion message to various states within the federation to underscore the imperatives of the savings culture among students.

    The bank’s officials were recently at Biedomo Premier School, Yenagoa, Bayelsa State to teach the students the fundamentals of financial planning, investment instruments and the need to imbibe the saving culture at an early stage.

  • Skye Bank, NGO battle cancer

    Skye Bank, NGO battle cancer

    Skye Bank PLC, in conjunction with its partner NGO,  Care Organisation and Public Enlightenment (C.O.P.E)  provided awareness on the menace of breast cancer in Lagos at the weekend.

    Group Managing Director Mr. Tokunbo Abiru, in a message to mark the breast cancer month, said: “There is need for a concerted effort by both government and public spirited organisations to fight the cancer in our society.”

    He described cancer as a leading cause of death worldwide, especially in developing economies where inadequate medical care and lack of awareness have combined to make it deadly.

    “Our commitment towards contributing to the fight against the high incidence of cancer, especially breast cancer in the country through our partner NGO, and under our Corporate Social Responsibility (CSR) initiatives, is unwavering, adding that “we have demonstrated this again and again by our continued support through C.O.P.E,” the bank chief said.

    Abiru, who was represented on the occasion by Mrs. Funmi Oketogun, group head, Commercial Banking, said: “The bank has been collaborating with C.O.P.E on a number of initiatives since the pact was initiated, such as SEEK-A-CARE project, a long-term relevant home care delivery service offered to breast cancer patients.

    “In addition to this, the bank also established a Breast  Cancer Information Service Centre to serve as a databank where relevant and up-to-date information on breast cancer is available as well as a help desk with dedicated phone lines where patients could call.”

    C.O.P.E. Chief Executive Officer Mrs Ebun Anozie hailed the bank for its contributions.

    In a paper, the guest lecturer, Prof. Ifeoma Okoye, who spoke on the “Role of imaging in breast cancer screening, diagnosis and management” said cancer is real but not a death sentence, urging Nigerians, especially people of faith not to live in denial of this reality.

    She said: “What we should concern ourselves with is to take the issue of our health seriously, do regular checkups; watch our lifestyle, our eating habits and engage in constant and consistent physical exercise.”

    “Early detection is crucial for effective management and treatment. There is also the need to give support to cancer patients and the need to move away from the myth that cancer is contagious. It is nothing but a fallacy,” the professor of Radiology at the College of Medicine, University of Nigeria Nsukka, added.

     

  • Skye Bank shifts AGM over interim audit

    Skye Bank Plc at the weekend postponed its annual general meeting (AGM) earlier scheduled for this Thursday, citing ongoing interim audit of its operations.

    Skye Bank had earlier on September 20, 2016, announced that it would hold its AGM on October 13, 2016. The main agenda of the meeting was the consideration of the annual report and accounts of the bank for the year December 31, 2015.

    “The postponement of the AGM is necessitated by the need to give our external auditors time to complete an interim audit of the bank which is in the final stages,” the bank stated.

    The bank did not indicate the timeline for the AGM, stating that the meeting will be rescheduled at the appropriate time.

    In a statement by the company secretary, Mr Babatunde Osibodu assured stakeholders of its commitment to good governance and prompt disclosures.

    The Central Bank of Nigeria (CBN) had on Monday July 4, 2016 taken over the management of Skye Bank, claiming that the former board and management voluntarily resigned after they failed to turn around the fortunes of the bank.

    The apex bank then appointed Alhaji Muhammad Ahmad, the founding director general of the National Pension Commission (Pencom), as the new chairman and Mr. Tokunbo Abiru, a former commissioner for finance in Lagos state and executive director at First Bank of Nigeria as the new group managing director.

    Ahmad, during a visit to the Exchange, said the reconstitution of the board of the bank by the CBN was not a takeover, but an intervention to correct observed corporate governance issues under the old board.

    While explaining that the ownership of the bank remains in the hands of the shareholders, he said the CBN does not own the bank and has not taken over the bank, stressing that the apex was fully behind the bank and would support it to fully stabilise

    He reassured the bank’s customers and investors that the bank was not distressed but only had corporate governance issues under the old board adding that the bank’s fundamentals remain strong and it remains one of Nigeria’s leading and retail banks.

    In his remarks, Abiru said the management team and the board would work to achieve value enhancement for shareholders, customers and other stakeholders by bringing the cost-income ratio to acceptable levels, improve the risk assets quality and work towards increasing the liquidity and capital adequacy of the bank.

  • Ijaw youths threaten total shutdown installations if…

    Ijaw youths threaten total shutdown installations if…

    Ijaw youths across the various clans in the Niger Delta on Thursday staged a massive protest in Yenagoa, Bayelsa State over what they described as the persecution of former President Goodluck Jonathan, his wife Dame Patience and other close associates.

    The youths, in a large number, carried several placards with inscriptions that condemned sponsored media attacks and the Economic and Financial Crimes Commission (EFCC)’s conspiratorial prosecution of the former first family.

    The group demanded an immediate cessation of what it called state-sponsored attacks and warned of a complete shutdown of oil installations should they persist.

    It would be recalled that the EFCC ordered the freeze of accounts belonging to the former first lady and through media outlets have bandied several amounts allegedly held by Mrs. Jonathan as being proceeds from crimes.

    Some lawyers, while insisting on Mrs. Jonathan’s innocence have insisted that the EFCC is being sensational with the issue as the bank balances of her accounts are far less than the various figures being touted. Mrs. Jonathan on her part has sued the management of Skye Bank in a joint suit with the EFCC.

  • Skye Bank, Citizen Patience Jonathan: Classical case of despotic persecution

    Skye Bank, Citizen Patience Jonathan: Classical case of despotic persecution

    Fellow citizens of the Federal Republic of Nigeria, sometimes in a 1783 House of Commons Speech, William Pitt the Younger, stated albeit instructively and rightly that “necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.”

    It is against this backdrop that I hope to situate in proper context the brazenly unconstitutional, unlawful and illegal actions of the EFCC in freezing the Skye Bank Account which the EFCC alleges contains $31m belonging to Mrs. Patience Ibifaka Jonathan popularly known as Mama Peace, the wife of former President Goodluck Ebele Azikiwe Jonathan GCFR and immediate past First Lady of the Federal Republic of Nigeria.

    It is pertinent to state that the said actions of the EFCC are not backed by any law in force in Nigeria presently inclusive of the EFCC Act. I will buttress this assertion later in this piece.

    Nonetheless, it beggars belief that the EFCC in its desperation to hound, harass, intimidate, persecute, extort and expose Mrs.Patience Jonathan to public ridicule, opprobrium and anger has engaged in crude misinformation of the global public and manifestly breached not just the Constitution of the Federal Republic of Nigeria 1999 as amended and other extant laws inclusive of its very own Economic and Financial Crimes Commission (Establishment)Act,what a monumental shame!

    It may interest you, fellow citizens, to note that whereas Section 6(a)-(q)of the EFCC Act, clearly outlines the functions of the of the EFCC particularly Section 6(b) provides thus: “the investigation of all financial crimes including advance fee fraud,money laundering,counterfeiting…” While 6(d) states “the adoption of measures to identify, trace, freeze, confiscate or seize proceeds derived from terrorist activities, economic and financial crime-related offences or the properties the value of which corresponds to such proceeds;” Furthermore, Section 7 of the EFCC Act confers Special Powers on the Commission to wit; 7(1). The Commission has the power to (a)”cause investigations to be conducted as to whether any person,corporate body or organization has committed an offence under this Act or any other law relating to economic and financial crimes; (b)”cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”

    The above powers of the EFCC notwithstanding,the EFCC Act in Part V titled “FORFEITURE OF ASSETS OF PERSONS ARRESTED FOR OFFENCES UNDER THIS ACT” clearly circumscribed the procedure for undertaking the process of freezing of funds in a suspect’s corporate or personal bank accounts, particularly a combined reading of Sections 27 and 34 of the EFCC Act will suffice. Sections 27 (1)provides thus “Where a person is ‘arrested’ for committing an offence under this Act. Such person shall make a full disclosure of all his assets and properties by completing the Declaration of Assets Form as specified in Form A of the Schedule to this Act.

    (2) “The completed Declaration of Assets Form shall be investigated by the Commission”.

    Furthermore, under the same Part V Section 34(1) provides thus:

    “Notwithstanding anything contained in any other enactment or law,the Chairman of the Commission or any other officer authorised by him may,if satisfied that the money in the account of a person is made through the commission of an offence under this Act and any of the enactments specified under section 7(2)(a)-(f) of this Act, apply to the Court ex-parte for power to issue an ‘Order’ as specified in Form B of the Schedule to this Act,addressed to the manager of the bank or any other person in control of the financial institution or designated non-financial institution where the account is or believed by him to be or the head office of the bank, other financial institution or designated non-financial institution to freeze the account.

    (2)”The Chairman of the Commission, or any officer authorized by him may by an order issued under. subsection (1) of this section, direct the bank,other financial institution or designated non-financial institution to supply any information and produce books and documents relating to the account and to stop all outward payments,operation or transactions(including any bill of exchange) in respect of the account of the person.

    (3)”The manager or any other person in control of the financial institution shall take necessary steps to comply with the requirements of the order made pursuant to subsection(2) of this section.

    The foregoing raises serious questions regarding the moral and legal basis and justification of the EFCC to undertake this vindictive Gestapo acts against citizen Dr. Mrs. Patience Ibifaka Goodluck Jonathan. In the light of the above, there arises certain fundamental and salient questions to wit:

    I)Did the EFCC invite,forward questionnaires or arrest Mrs.Patience Goodluck Jonathan for interrogation in compliance with Part V Section 27 of the EFCC Act in order for Mama Peace to fill the Declaration of Assets Form in compliance with the Act? The answer  is capital No! Which is a crystal clear breach of the outlined procedure as enshrined in the EFCC Act and a crass infringement of Dr. Mrs. Patience Ibifaka Goodluck Jonathan’s Constitutionally guaranteed right to fair hearing as espoused in Section 36(6) of the Constitution of the Federal Republic of Nigeria as amended and expressed in the latin maxim “audi alterem partem” meaning “hear the other side also”.

    (2)Did the EFCC apply and secure an Ex-parte Order from a Court of competent jurisdiction in Nigeria for the power to freeze the corporate or personal bank account of Mrs. Patience Ibifaka Goodluck Jonathan? The answer to the above poser is in the negative. It therefore necessarily follows that the EFCC is pursuing a manifestly vindictive mission in flagrant breach of section 34 of its own EFCC Act.

    (3)How much is exactly contained in the said bank accounts of Dr. Mrs. Patience Ibifaka Goodluck Jonathan? Whilst Mama Peace contends it is less than 10million U.S. Dollars,the EFCC in its statement mentioned 31million U.S. Dollars.

    Since this is the case, shouldn’t the EFCC ordinarily be glad that Mama Peace is ‘forfeiting’ about 22 million U.S.  Dollars? If so why would Mama Peace be in court with the EFCC to secure the defreezing of her personal account containing less than 10million U.S.Dollars instead of 31million US dollars? It therefore necessarily follows that the EFCC surely must be on a mission of malicious misinformation and dissemination of falsehood against citizen Mama Peace and by extension the family of former President Goodluck Jonathan. What then is the purpose of this malicious and tyrannical action of the EFCC?

     Could it evidently be a mission to impeach the international statesmanship credibility of former President Goodluck Jonathan GCFR and to in the process launder the badly battered anti-corruption image of President Gen. Muhammadu Buhari GCFR as he went to address the United Nations General Assembly? Could it be a Machiavellian attempt to extort Dr. Mrs. Patience Ibifaka Jonathan of her money? Fellow Nigerians, today it is the turn of citizen Dr. Mrs. Patience Ibifaka Goodluck Jonathan, tomorrow it will definitely be you and me!

    The greatest corruption known to humanity is institutional corruption and abuse of office because it destroys the confidence of citizens to explore the machinery of  legitimate state institutions for progress and protection. Therefore, I submit borrowing the immortal words of John Philpot Curran in his 1790 Speech where he posited that “the condition upon which God hath given liberty to men is eternal vigilance; which condition if he breaks, servitude is at once the consequence of his crime and the punishment of his guilt.”

    Nigerians must wake up to safeguard our right to life, liberty and the pursuit of happiness and prevent this slide into tyranny, nepotism and fascism by joining our voices to the mass movement fighting for respect of the principles of Constitutionalism, rule of law, federal character, independence of the Judiciary, Legislature and other governmental institutions such as INEC, EFCC, Code of Conduct Bureau/ Tribunal and the establishment of a robust socio-economic framework to engender social justice, economic prosperity and the greatest happiness to the greatest number of Nigerians by the administration of President Gen. Muhammadu Buhari,GCFR.

    Finally my confidence is of God, who in His time vindicates the innocent and oppressed person and I trust the Judiciary to ensure that all citizens and governmental agencies are treated equally before the law,borrowing the immortal words of Lord Denning Master of Rolls in Gouriet v Union of Post Office Workers, “To every subject in this land,no matter how powerful,I would use Thomas Fuller’s words over 300 years ago: ‘Be you never so high,the law is above you.”

    Therefore, the EFCC must be made to act under the ambit of the law in Nigeria.

    Jonas G. Iniayemana Esq., is a Port Harcourt based Lawyer.

  • Jonathan’s wife sues EFCC, Skye Bank over frozen accounts

    Jonathan’s wife sues EFCC, Skye Bank over frozen accounts

    Former President Goodluck Jonathan’s wife, Patience, has sued the Economic and Financial Crimes Commission (EFCC) and Skye Bank at the Federal High Court in Lagos over the freezing of her bank accounts.

    She is demanding N200million in the fundamental rights enforcement suit.

    Mrs. Jonathan said four of her frozen accounts with Skye Bank in the name of four companies have a balance of $15, 591,700.

    An aide, Sammie Somiari, deposed to an affidavit on behalf of the former first lady.

    EFCC reportedly placed a No Debit Order on the four accounts in July in the course of probing a former Special Adviser on Domestic Affairs to Jonathan, Waripamo Dudafa.

    The EFCC has filed an amended 17-count against Dudafa and seven others, including the four companies.

    They were accused of conspiring to conceal $15, 591,700, which the EFCC claimed they ought to have known formed parts of proceeds of crime.

    Somiari said Mrs. Jonathan was abroad for an urgent medical treatment.

    The deponent said Dudafa helped Patience to open the four banks accounts which the EFCC froze.

    He said Dudafa, on March 22, 2010 brought two Skye Bank officers, Demola Bolodeoku and Dipo Oshodi, to meet Patience at home to open five accounts.

    The deponent claimed that Patience is the sole signatory to the accounts, adding that after the five accounts were opened, Mrs. Jonathan later discovered that Dudafa opened only one of the accounts in her name while the other four were opened in the names of companies belonging to Dudafa.

    The four companies, whose accounts have now been frozen and charged with money laundering along with Dudafa are Pluto Property and Investment Company Limited; Seagate Property Development & Investment Co. Limited; Trans Ocean Property and Investment Company Limited and Development Company Limited and Globus Integrated Service Limited.

    Somiari said: “The applicant (Mrs. Jonathan) complained about this to Honourable Dudafa, who at his prompting and instance promised to effect the change of the said accounts to the applicant’s name and to effect this change, Dudafa brought the said bank manager, Mr. Dipo Oshodi, who purported to have effected the changes. This was about April 2014.

    “The applicant is not a director, shareholder or participant in the companies named in the aforementioned four accounts.

    “The bank official, Mr. Dipo Oshodi, as it would appear did not effect or reflect the instruction of the applicant to change the said accounts to her name(s) despite repeated requests of the applicant.

    “Besides, the ATM credit cards bearing the said companies’ names were brought to the applicant by Mr. Dipo Oshodi of the 2nd respondent bank, who promised to replace them once the cards bearing the changed names were available but he never did.

    “However, since 2010 up until 2014 and thereafter, the applicant had been using the cards on the said accounts and operating the said accounts without let or hindrance.

    “Even in May, June and July 2016, the applicant traveled overseas for medical treatment and was using the said credit cards abroad up until July 7, 2016 or thereabouts when the cards stopped functioning.”

    In her fundamental rights action, Mrs. Jonathan is urging the court to compel the EFCC to immediately remove the No Debit Order placed on her accounts.

    She also wants the court to order Skye Bank to pay her damages in the sum of N200m for what she termed a violation of her rights to own personal property under Section 44 of the Constitution.

    The case has been adjourned till September 15.

  • Skye Bank to enhance e-banking services

    Skye Bank to enhance e-banking services

    Skye Bank’s electronic channels and e-banking services deliver exciting and hassle-free banking experience to its customers and subscribers, the bank’s Executive Director, Technology and Services, Innocent Ike, has said.

    Speaking to reporters on the features of the bank’s e-channels and internet banking platforms, he explained that technological innovation has simplified hitherto complex and laborious banking services.

    According to him, “Today, most Nigerians sit in the comfort of their living rooms to carry out transactions at the click of a button, adding that, “Internet users are now smarter and ready to embrace seamless services offered by Skye Bank.”

    Citing Skye Bank, he said: “With our solutions, customers carry out bank transfers in split seconds without the rigors of the cumbersome and often tiring internet banking token system”.

    The bank, he said, has also made bill payment on internet banking hassle-free, as customers can conveniently use the platform to pay utility bills. Customers can also check their account balance and details of previous transactions via the Skye Mobile app and the Skye USSD code, *833#.

    He also used the opportunity to explain the bank’s recent increase in customers’ daily and monthly international spending to a higher limit on both MasterCard debit cards and Platinum Master Card debit card users. This, he noted, was in line with the Bank’s customer-centric posture as a leading retail bank.

  • Fire at Skye Bank MMIA branch

    Skye Bank Plc located at the international wing of the Murtala Muhammed Airport (MMIA), Lagos was last night gutted by fire.

    Although, the fire was put out immediately, smoke engulfed the area for some time, but it did not disrupt activities, as passengers boarded flights.

    An official of one of the passengers-handling companies, Pathfinder, said they perceived the smell of a burning wire.

    A source from the Federal Airports Authority of Nigeria (FAAN) said the fire was not noticed by many people because when it started, it was quickly put out.

    “I was at the terminal, but I didn’t hear of it until your enquiry. Many people were going about their activities without being aware of the fire because it did not disrupt anything,” the official said.

  • Skye Bank Select Summer Campaign gathers momentum

    Skye Bank Select Summer Campaign gathers momentum

    The on-going Skye Select Summer campaign has continued to gain attention as members of the public have been opening account in large numbers.

    The Skye Select summer campaign offers a new investment window for discerning high-end individuals, who value personalised services and unique lifestyle. The campaign is targeted at the upper-middle level managers and professionals, who earn a monthly net income of N750,000 and above, and travel regularly.

    According to a statement by the bank, those who take advantage of the summer campaign to either open new accounts or build up their existing accounts would enjoy increased earnings via interest on their credit balances, and benefit from discounted interest rates on personal loans.

    Other benefits of the Skye Select account are free cheque book and the ability to make unlimited withdrawals from their accounts.

    The bank explained that other lifestyle benefits that customers would enjoy include exclusive discount at Hilton Hotel, Abuja, free priority pass membership and two free airport lounge visits per year.

    It further said customers would enjoy packaged holiday tours through its Skye Travel Finance in addition to being offered fast track services in designated branches, and would also be assigned dedicated relationship officers.

    Skye Select is an individual current account designed for discerning high-end individual customers who value personalised service and could afford a constant credit balance of N100, 000 in their accounts.

    It also gives benefits and values that are specific to the lifestyles of premium customers. Some of the target audience include: people who undertake frequent foreign trips, businessmen, top government officials and individuals who go on regular holy pilgrimages.

  • Skye Bank not distressed, says CBN

    Skye Bank not distressed, says CBN

    The Central Bank of Nigeria (CBN) has defended the liquidity position of Skye Bank Plc, saying the lender is neither distressed nor liquidated.

    In a statement, its Acting Director, Corporate Communications, Isaac Okorafor, said the regulator was drawn to the content of a message urging customers of Skye Bank to withdraw their deposits or transfer them to other banks.

    The message alleged that  Skye Bank has been liquidated by the apex bank.

    “The CBN wishes to state, and emphatically so, that it has not liquidated Skye Bank or any other deposit money bank for that matter. The bank also wishes to reiterate its earlier assurance that Skye Bank is not in distress and remains a healthy bank in the Nigerian banking system. Indeed, the health of the Nigerian banking system remains strong, all banks in Nigeria are safe and depositors have no cause to fear over their deposits.

    “While it will be recalled that Skye Bank had corporate governance challenges, the CBN has since taken proactive steps to resolve the issues identified. Indeed, the CBN is satisfied with the efforts of the new management to reposition Skye Bank for effective service delivery. Accordingly, customers of Skye Bank and other stakeholders are advised to disregard any message purporting a liquidation of the bank.”