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Diamond Bank, Skye Bank, Others Jostle To Acquire Enterprise Bank … Real Reason Behind Enterprise Bank Chairman, Emeka Onwuka Resigned Unveiled. + Customers Flee to Make withdrawal…



It is no longer news that the Chairman of Enterprise Bank Ltd, Mr. Emeka Onwuka stepped down from the Board but information filtering alleged that he is set to buy the ailing bank from Asset Management Corporation Of Nigeria (AMCON).

It is said that Emeka Onwuka in a letter of resignation addressed to the Managing Director AMCON had referred to his earlier declaration of interest, intimated the management of his interest with a group of investors who intends to acquire AMCON’s shares in Enterprise bank ltd.

Reliable sources alleged that Emeka who was Group Managing Director/CEO of Diamond Bank Plc from May 2005 to February 2011 approached the board of Diamond bank to release fund to secure the purchase of the bank. It was gathered that Diamond bank doesn’t want to come out to bid for the purchase but prefer to use Emeka to penetrate the deal.

Insider of the bank who craved anonymity alleged that the resignation notice was less than normal period expected on an executive like Emeka.

Skye Bank Plc, on the other hand has indicated interest in acquiring Enterprise Bank Ltd., Timothy Oguntayo, the Group Managing Director of the bank, said in Lagos on Thursday.

Oguntayo made the development known at the bank’s pre-Annual General Meeting media briefing, adding that the bank had submitted a bid and scaled through various stages of due diligence.

“We are in the race for the acquisition of Enterprise Bank, we have scaled through the first hurdle stage and in the last due diligence stage,” Oguntayo said.

Those in know alleged that some of the ‘dirty things’ going on in Diamond Bank include bribing of top executives of both Asset Management Corporation of Nigeria (AMCON) and chartered Institute of Bankers (CIBN) who will facilitate the speedy acquisition by Diamond bank as other organizations are jostling for the same bank, Enterprise. It was gathered that a top executive of AMCON was given close to N200million to cede the bid in favour of Diamond bank.

An insider of Diamond bank alleged that the bank has given over N1billion to their connections in both Central Bank of Nigeria and Federal House of Representatives who are behind acquisitions of such transactions.

Finding revealed that the board of directors of Diamond bank has spent whooping amount of customer’s money to facilitate the purchase and this is affecting smooth operation in the bank. A customer who prefer anonymity divulged to us that she visited atleast two branches of Diamond bank within one week on different day to collect her money saved in the bank but met excuses that the network is down only for a her friend, a staff of Diamond bank to revealed that there is no cash on ground to pay anyone who wanted to collect huge amount of money.

To confirm the allegation, we visited two branches of Diamond bank in Lagos, a branch at Pedro B/stop in Gbagada and Abeaokuta expressway, Iyana Ipaja. The situation met confirmed what was reported as angry customers reacted to the inability of the bank to pay cash and mammoth crowd waiting to get there transactions done.

Though there were more than 20 bidders that have indicated interests in the purchase of Enterprise Bank, which not only underscored the attractiveness of the bank but vindicated the decision of the corporation to start with the bank, Diamond bank’s strategy to make the acquisition a reality is making the management to sack staffs to reduce overhead on staffs.

Additional report has it that, Jimoh Ibrahim who was one of the latest investors to bid has been shopping for a real investment in the banking industry to revitalize some of troubled companies which had nosedived.

Sources said that, Jimoh who is still a big player in the oil & gas business, newspaper publications, insurance, hospitality among others is still angry due to the way his investment in the aviation sector collapsed and has been making several moves to invest in a better industry.

Meanwhile, Femi Obateru is spearheading the interest of Obat Oil in the deal.

He is the Managing Director of Obat Petroleum and in charge of extensive operations of the family investment with a growing hold in the aviation sector. To succeed, interested parties need to pay all the debt of AMCON, including the 100% stake in Enterprise Bank and Femi is said to have put all machineries in place in achieving this project.

Findings revealed that Daimond bank has lay off over 500 staffs since inception of the idea to acquire Enterprise bank. According to investigations, Diamond bank is also involved in extortion scam, deducting money from customer’s account without approval.

It could be recalled that Onwuka has had a successful career in the banking industry. He has contributed immensely in the development of the banking industry in the last 20 years and Diamond bank in particular. It was his pedigree that earned him his appointment as the Chairman of Enterprise Bank Ltd, one of the nationalised banks. This singular appointment is in recognition of his sterling banking qualities and his ability to turn around and reposition the bank for greater heights.

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Lagos Lawyer Gboyega Adetunji Delves Into Agriculture, Floats Abundish; A Revolutionary Farm-To-Table Outfit





Barrister Gboyega Adetunji, a Lagos-based renowned legal practitioner, has ventured into agriculture with the launch of Abundish, a revolutionary farm-to-table service aimed at transforming how Nigerians access fresh, high-quality, and healthy farm produce.


Abundish is committed to offtake directly from farmers and supply to consumers promoting sustainable agricultural practices, and ensuring fair market value for produce.


The innovative platform offers a subscription-based model, allowing customers to customize their experience and receive curated selections of fresh, seasonal produce delivered conveniently to their homes.


“I’m thrilled to embark on this new journey, combining my passion for sustainable living and community development,” said Barrister Adetunji, Founder and CEO of Abundish.


“Our goal is to empower farmers, support local economies, and provide healthy, fresh produce to consumers while reducing food wastage and promoting sustainable practices.”


“Abundish is more than just a bridge,” says Barr. Gboyega Adetunji.


“We are a movement bringing fresh, high-quality produce whether cash or food crops directly from the farm to the end consumer, cutting out unhygienic produce, reducing landing costs of produce, and the convenience of doorstep delivery it affords our customers. This does not only benefits our customers, but also supports sustainable agricultural practices, grows the naira and local economies, and also empowers the farmers who nourish our communities.


Reacting to what inspires his diversification, Barr. Gboyega said “I’d always wanted to have my little farm that can cater for at least 80% of my consumption, but then I realized how impactful it would be if this practice could be extended to others, hence the creation of the Abundish brand”


When asked what sets Abundish apart from its counterparts, Barr. Gboyega said, “Abundish offers a unique subscription model, allowing customers to customize their experience and receive a curated selection of the freshest seasonal produce delivered conveniently to their homes. By bypassing traditional distribution channels, Abundish reduces food waste, ensures peak freshness for consumers and the amount of time doing tedious work of purchase and clean up”.


“Abundish offer fresh farm produce at fair market value, championing food security with sustainable practices” he added.


At Abundish, we are not just passionate about delivering farm-fresh produce, we are committed to creating a positive impact on our world. That is why we operate with the UN Sustainable Development Goals (SDGs) in mind, striving for a more sustainable, equitable, and food-secure future.


Join The Abundish Movement, visit to learn more about Abundish, and subscribe to receive the freshest produce delivered at your convenience.


Follow Abundish on social media platforms for behind-the-scene farm footage, exclusive offers, recipes, and our social impact initiatives.


X (Twitter) – @abundish


Instagram – _@abundish


Facebook – Abundish

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US-based Nigerian Jailed 41 Months For Operating Illegal Money Transmitting Business; Funds Wired To Lagos Bank




A Nigerian man based in the United States Oluwafemi Osinowo has been sentenced to 41 months in a federal prison after he was convicted of operating an illegal money transmitting business.


U.S. Attorney Ronald C. Gathe, Jr. in a press release issued by the U.S. Attorney’s Office, Middle District of Louisiana on Monday, announced that Chief Judge Shelly D. Dick also sentenced Osinowo, 35, of Miami, Florida, to three years of supervised release following his term of imprisonment.


According to admissions made as part of his guilty plea, from December 2016 to January 2019, Osinowo operated an unlicensed money transmitting business.


He confessed that he conducted foreign currency exchange business without complying with required federal registration requirements.

During the course of operating the business, money was transmitted from third parties from the Middle District of Louisiana and elsewhere to bank accounts located in Miami, Florida.


Once the money was in the bank accounts in Miami, Florida, an individual acting as an agent of Osinowo’s business wired the money to a bank in Lagos, Nigeria. Those wire transfers included approximately 51 separate transmissions in the aggregate total of approximately $722,177.



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‘Stolen’ $6.2m: What Emefiele Told Us In Kuje Prison – Investigators




One of the investigators handling the case of $6,230,000 allegedly stolen from the Central Bank of Nigeria (CBN) on February 8, 2023, has revealed what Godwin Emefiele, immediate past governor of the apex bank, told them at Kuje prison.

The former CBN governor, who is standing trial on an alleged 20-count amended charge, preferred against him by the Economic and Financial Crimes Commission (EFCC), was once remanded at Kuje prison.

He was alleged to have engaged in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence when he served as central bank chief.

In an affidavit filed before a Federal High Court in Abuja, one of the investigators, a Deputy Superintendent of Police, gave details of investigators’ findings and progress made so far.

The Deputy Superintendent of Police was quoted to have said: “We visited Kuje Correctional Centre, where we interviewed Godwin Emefiele, who purportedly approved the memos authorising the payment, as then CBN gov and he denied seeing, talk less of approving such memos.

“We also arrested some concerned staff of the Central Bank of Nigeria, who denied any involvement in the crime, before we finally arrested Bashirudeen Maishanu, who corroborated the account of Abdulmajeed Muhammad and further confessed to have been involved in the crime which, according to him was perpetrated by himself and the first to third defendants/respondents – Adamu Abubakar, Imam Abubakar and Odoh Eric Ocheme.

“Bashiru Maishanu further confessed that himself, the first and second defendants/respondents (Adamu Abubakar and Imam Abubakar) shared the sum of $2,500,000.00 from the stolen money, while the third defendant/respondent (Odoh Eric Ocheme), being a fellow staff of the Central Bank of Nigeria, kept the balance of $3,730,000.00 claiming that he had other interests to settle in the CBN.

“Bashirudeen Maishanu further confessed that both himself, and the first and second defendants/respondents jointly invested the United States dollars equivalent of the sum of N1, 440,000,000.00 into real estate business of Afrolyk Global Ltd.

“The Managing Director of the said Afrolyk Ltd, Aminu Lawal has been arrested and he confirmed the investment by Bashirudeen Maishanu, Adamu Abubakar and Imam Abubakar, and already refunded the sum of $200 000 00 to the Special Investigator’s team as part of the money he (Aminu Lawal) received as part of the purported investment.

“Cash of about $400,000 00 has also been voluntarily returned by Bashiru Maishanu from part of his remaining share of the money in question. The money (the $6,230,000) was received in cash from the Central Bank at Nigeria and also shared in the same cash by the defendants/respondents and others, making it difficult to trace the monies without arresting the defendants/respondents.

“It was later revealed that the third defendant – Odoh Eric Ocheme – was the Personal Assistant to Godwin Emefiele as the CBN governor while the first and second defendants (Adamu Abubakar and Imam Abubakar) are businessmen and associates of Bashirudeen Maishanu.”

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