FCMB is a leading financial institution in Nigeria has received a big shock of the year as one of its staff has been thrown to prison for fraud and embezzlement.

Justice S. Odili at the Anambra State High Court in Onitsha, Anambra State, sentenced Mr Nwachukwu Placidus, a bank manager at First City Monument Bank FCMB, Onitsha Anambra State to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account.

The Honorable justices delivered the verdict resulting in the conviction and sentencing of a former manager at the First City Monument Bank’s branch in Onitsha, who has now been sentenced to a total of 121 years in prison for misappropriating fixed deposit funds totaling N112,100,000 from a customer for personal use. This is tantamount to a breach of trust by the former manager which has attracted a huge jail term.

In a remarkable celebration of heritage and innov ation, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT today announced a joint celebration marking Wema Bank’s 79th years and ALAT’s 7 years anniversaries. This significant celebration not only commemorates nearly eight decades of exceptional service and innovation in the Nigerian banking sector but also celebrates the bank’s seven years of digital excellence with ALAT.

Since its inception in 1945, Wema Bank has been at the forefront of financial innovation, constantly adapting to meet the evolving needs of its customers. Over the decades, the bank has evolved from a regional bank to a national bank, adapting continuously to meet the dynamic needs of its customers and establishing itself as a pillar of trust and reliability for millions of individuals and businesses across Nigeria.

According to the MD/CEO Wema Bank, Mr. Moruf Oseni, the bank’s evolution from being Nigeria’s oldest indigenous bank to being at the forefront of innovation, pioneering Africa’s first fully digital bank, ALAT, has been a true story of resilience and transformation.

“At 79, Wema Bank stand stronger than ever, and this achievement would not have been possible without the support of our customers and employees. We thank them for believing in the Wema vision, for entrusting their financial security to us, and for allowing us to contribute to their personal and professional aspirations. Their faith in us is deeply cherished, and we are honored to serve them.”

“As we mark our 79th year today, we reaffirm our commitment to empowering lives through innovation, and exceeding our customers expectations with unparalleled banking experiences tailored to their needs. Our pledge is to stand by our customers through every stage of life, offering enabling platforms to accelerate their growth and propel them to extraordinary heights.”

“While the past 79 years have been remarkable, we anticipate that the coming decades will be even more inspiring. With the partnership of our customers and employees, Wema Bank is poised to set new standards in financial services and redefine the future.” He concluded.

As part of the anniversary celebrations, Wema Bank and ALAT are rolling out a series of customer-focused activities designed to reward loyalty and enhance the customer experience. Throughout the anniversary month, customers will enjoy various promotions, including discounts on transactions, cash prizes, special loan offers and much more.

This anniversary is more than a celebration; it’s a reaffirmation of Wema Bank’s resilience and ongoing commitment to innovation and customer satisfaction in a competitive industry. Both Wema Bank and ALAT are poised for further growth, with strategic initiatives designed to enhance customer-centric services and expand the reach yearsw capability of digital banking solutions.

By: Oladapo Sofowora

Barrister Tokunbo Phillip Wahab is a man who is not swayed by frivolous things or sentiments. He is not like other public servants who are in it for personal gain. His foray into politics is to make a difference because of his upright nature. Those who know him describe him as fearless, unperturbed, and unbothered by anything. As a lawyer, he was outspoken, coherent, distinct, articulate, elegant, and highly cerebral. He knows the legal profession like the back of his hand and can cross-examine in the court with ease. He would have attained the highest legal title in the land as a Senior Advocate of Nigeria if he continued practising. However, he chose to put his knowledge into public service, and he has not regretted it since.

Tokunbo’s style is distinct, and he is a stickler for success. He believes that things should be done the right way to achieve great results. As Special Adviser to Governor Babajide Sanwoolu on Education, he spearheaded the biggest turnaround in the educational sector in Lagos. He revamped the educational template of Lagos to meet global standards, upgraded colleges of education, and polytechnics to universities, and ensured teachers were dishing out quality education inline with the THEMES agenda. He monitored and ensured quality delivery in the education sector, and his strides in that sector have been unmatched since he left to serve in another capacity. Despite the global pandemic that took students out of class for a long time, Wahab ensured that the educational calendar in Lagos was not tampered with, displaying Lagos status as the true Centre of excellence. He ensured the calendar was followed to the core, as there was no break in transmission like other states witnessed. With all his giant strides, Governor Sanwoolu immediately redeployed him to his new role as the Commissioner of Environment and Water Resources during the beginning of his second tenure.

When he was sworn in as a Commissioner; it didn’t take him less than a week to settle in and read the riot act to workers in the ministry and also erring Lagosians who are in the habit of polluting Lagos through waste, air, noise, and encroached builders on areas reserved as green areas or those blocking the drainage channel for easy movement of rain water. He displayed his negotiating ability by inviting all critical stakeholders for dialogue while he also highlighted the importance of removing contravening buildings stopping water flow into the canal to ensure Lagos is not flooded during the rainy season. He also rejigged the once moribund Lagos Waste Management Authority (LAWMA) and Kick Against Indiscipline (KAI), which are now charged with the responsibility of enforcing complaints written by many on the issues of indiscipline, and the Lagos Environment Protection Authority has been on their toes receiving petitions and carrying out enforcement.

To make the work easy, he ensured the running of open-door policing and also opened his lines and other channels of communication for speedy action. On several occasions, he has received complaints on social media and acted on them at the speed of light, which has earned him the commendation of many. While his approach has restored the confidence of people in government agencies functioning optimally, Tokunbo is not relenting in his quest to restore more sanity to Lagos so it can be an eco-friendly and habitable haven for all in line with the United Nations Environment Organization terms. Non compliance Hotels, religious houses, entertainment hubs have been locked due to one infraction or the other in other to restore sanity within the Lagos Metropolis.

While Tokunbo is doing his job, many won’t know that back door discharging his duties is a Herculean task. Many elites have complained to the authorities about his no-bending style, but Tokunbo has said that he will do everything within his power to ensure things are done according to the law and also in due process without minding whose ox is gored. Some allegedly top political stakeholders were culpable when he was demolishing houses that encroached on drainage setbacks, but Tokunbo didn’t mind their emotional blackmail and campaign of calumny on the media instead of him to slow down he intensified his effort. He has always said posterity will judge him for doing the right thing and everyone will thank and appreciate the Governor Sanwo-olu led government for the job they are doing when the result becomes more evident. While many have resorted to sponsoring media campaigns to soil the name he has built, he has identified them as cheap blackmail and will not in any way deter him from doing the right thing.

For Tokunbo, at his current level he is not particular about wealth, he has accomplished virtually everything he wants at a relatively young age, but politics for him is an avenue to give back to his immediate society. Despite his standing order to do the right thing, on a lighter note, the Epe born generous money bag is a fun and compassionate person. Those who have been with him can disclose the fact that he is a man who loathes the sight of another man in distress; he is always ready to assist. Despite trying hard to stay out of the media cynosure for the good things he does, his name has continued to remain a recurring decimal in the media for philanthropy and also cheerful giving and service to humanity. In his personal capacity; he has sponsored plenty children to school at all levels, he has sponsored free health checkup and operation for many people, he has constantly provided edible items to the downtrodden and constantly doles largess to many who are on his payroll. Tokunbo believes he has made a name for himself, but one thing remaining is to cement a long-lasting legacy that the generation unborn will admire and applaud.

As the popular parlance says, the reward of a job well done is more job. Wahab is not resting on his oars anything soon until he achieves his main goal of restoring sanity to achieving a better Lagos rising like the morning sun. He believes there is nowhere like home, putting Lagos on the pedestal of other developed cities across the world. To achieve that, it will require deviating from the norm and that what he is currently championing.