According to SR, Heritage Bank Plc. is a ghost that its management is
desperately trying to give the appearance of a virile financial
institution. Sources in the bank said that the management has been
borrowing money to pay salaries since September 2016, after gouging the
bank through a variety of abuses that included theft of physical cash
and award of contracts at grotesquely inflated sums.
The Managing Director, Mr. Ifie Sekibo, said a source, illegally stole
physical cash and in foreign currencies under the guise of foreign
exchange transfers. The source warned depositors to endeavor to recover
their deposits before the bank finally goes bust.
One of the tricks employed by the management to give the bank an appearance of solidity, disclosed another source, was the recruitment of a former MultiChoice top gun. The management, the source added, also sold one of the bank’s properties on Femi Pearse Street, Victoria Island, Lagos, to attain a measure of liquidity. The proceeds from the sale were used to pay the rent of the bank’s offices at Ajose Adeogun and Moshood Olugbani streets, both on Victoria Island, Lagos.
“What sensibly-run business sells assets to pay for rent?” asked the source.
The management, SR also gathered, is currently sacking staff suspected to have leaked the story of the bank’s parlous state. The sack exercise, which is being carried out in batches, is targeted at staff considered disloyal to the bank.
One of the tricks employed by the management to give the bank an appearance of solidity, disclosed another source, was the recruitment of a former MultiChoice top gun. The management, the source added, also sold one of the bank’s properties on Femi Pearse Street, Victoria Island, Lagos, to attain a measure of liquidity. The proceeds from the sale were used to pay the rent of the bank’s offices at Ajose Adeogun and Moshood Olugbani streets, both on Victoria Island, Lagos.
“What sensibly-run business sells assets to pay for rent?” asked the source.
The management, SR also gathered, is currently sacking staff suspected to have leaked the story of the bank’s parlous state. The sack exercise, which is being carried out in batches, is targeted at staff considered disloyal to the bank.
One of the affected staff told SR that the conduct of the management
advertises itself as more disloyal to the bank than the staff being
relieved of their jobs. He added that the story was widely suspected to
have been leaked by an executive director, who was also forced to resign
in November.
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