Prior his appointment, Abubakar was Deputy Managing Director of the bank since October 2016, and it was expected that his coming on board as head honcho of the bank of which he has been a part and parcel of would bring excitement to the staff. Only few at the top echelon of the bank appear to be indifferent to his Abubakar elevation as the general feeling has been that of apprehensiveness. Insiders source ascribe the pervasive misery to Abubukar’s impetuous and imperial nature as a leadership. According to the source who spoke on the condition of anonymity, Abubakar’s breath-down-on-your-neck style comes with a feeling of unease and stifles staff creativity and performance.
The source further hinted that the erstwhile MD of the bank, Obeahon Ohiwerei, who suddenly resigned, was spiritedly appealed to by some influential staff and few board members within the system but all the appeals fell on deaf hear as Ohiwerei seemed to have made up his mind about leaving to pursue some “personal interests.” Ohiwerei was said to be a boss with listening ears and broad mind. It is being insinuated that Ohiwerei’s resignation must have been as a result of some well concealed high wire politics played at the top. There had been some subtle campaign of calumny against Ohiwerei in recent months to discredit his performance as CEO.
Issues had been raised about the steady increase in the bank’s non-performing loans and rising growth in the administrative and general expenses which allegedly were depressing the bank’s operating income and had increased the erosion of equity due to accumulated losses. The matter came to a head when the media was awash with unsavory reports about unhealthy indices about the bank. There are fears that the acting MD, a man with stern mien, might carry out some surgical operations that would axe many of the bank staff in the name of downsizing.
