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Niyi Tabiti Several branches of Intercontinental Bank that have been tagged 'not performing' has been shut down by Access Bank, the new owners of the bank just as over one thousand staff of the same bank  lost their jobs. Gistmaster gathered some of the braches of Intercontinental Bank shut down by Access Bank includes the one at Ikeja, Ibafo and Akute.Austin Edoja, the corporate affairs manger of Access Bank confirmed the new development. Already, close to two thousand staff of Intercontinental bank has been sacked. However, we gathered that this just the first batch. Sources told gistmaster that Access Bank also plan to sack thousands of others soon. Intercontinental Bank was hit by massive low patronage after the Central Bank of Nigeria indicted the erstwhile Managing Director of the Bank, Erastus Akingbola and other directors of fraudulent practices.

 President Goodluck Jonathan woke Nigerians up with a shocker this morning with the sack of Economic and Financial Crimes (EFCC) boss Mrs. Farida Waziri. According to announcement made by the government through the president's spokesperson, Dr. Reuben Abati, Waziri was relieved of her job and an acting chairman in the person of Mr. Ibrahim Lamorde has been appointed acting chairman of the anti-graft agency. Gistmaster gathered that the sack of Waziri and appointment of Lamorde as EFCC acting Chairman takes immediate effect.  Lamorde's profile in efcc started durning the time of former chairman of the commission, Malam Nuhu Ribadu. He was the director of operations. He was later appointed the acting chairman shortly before the appointment of Mrs. Waziri by the Umaru Yar'Dua's administration in 2008.  Lamorde a police office was tranfered from the EFCC after the appointment of Mrs. Waziri but he was re-appointed director of operations after sometime. Mrs. Waziri was a

 Spin doctors of Mr. Aigboje Aig-Imoukhuede the group managing director/ceo of Access Bank are already pushing his ambition as next Governor of Central Bank to limelight. The tenure of the incumbent governor of CBN,Malam Sanusi Lamido Sanusi, will expire next year.   Gistmaster gathered that the Access Bank boss is silently running a campaign that would get him the job through his connection with Nigeria president, Mr. Goodluck Jonathan.   He is considered as one of the closest economy drivers to the president. So he is doing all within reach to ensure that he is considered for the job.  One of his highest selling point is also condered his weakest. According to a source, Aig-Imokhuede and his deputy, Wigwe are jollificating over the aquisition of Intercontinental Bank, yet they have not answered the question of how they managed to acquire a bank  they are indebted to.   Going by recent comments of President Goodluck Jonathan on the achievement of CBN governor, Malam Sanusi Lamido

Channel Director, Huawei Technnologies Co. Nigeria Ltd, Mr Osita Akabueze Managing Director, Terminnal (West Africa), Mr Jacky Lee, Managing Director/CEO, Telec, Mr Tolu Ojo : and Head of Business Development & Strategy, Telec, Mr Peter Lee, at a Media Briefing on Huawei Technnologies entry into Nigeria Mobile Phone Market, held at Protea Hotel, Ikeja, Lagos, yesterday.   Huawei Technologies Ltd, world’s biggest telecom service providers, has announced its entry into the highly competitive Nigerian mobile phone market, saying it will be making mobile phones accessible to Nigerians across different socio-economic classes .Click here to read more and see more photos

Remains of  the helicopter crashed victims that happened between ife Odan ills and Ogbomosho have been identified. Their names are Reverend (Mrs) Josephine Oluwadamilola Kuteyi,the managing director of Josepdam Sugar Company, Bacita, Kwara State, her personal assiatant, Mrs. Adedoyin Ogunbanjo and the pilot,Captain Annord, a  Filipino According to Dr Harold Demuren, Director General of the National Civil Aviation Authority, Mrs Kuteyi, chartered flight from OAS Helicopters in Maryland, Lagos. The unfortunate incident happened in the morning. On why the helicopter crashed, Demuren said  the aircraft, with registration 5N-BKA belonging to OAS Helicopter Services, was flying very low unfortunately it crashed into very high hills. Information gathered from the National Emergency Management Agency (NEMA), said poor visibility in bad weather also added to the accident. They are still doing more investigation to prevent a re-occurrence of the incident. The minister of Aviation, Stel

[caption id="attachment_6387" align="alignleft" width="225" caption="Alex Otti,the Group Managing Director of Diamond Bank"] [/caption]Few weeks after the glaring possibility of Intercontinental Bank take over by Access Bank and the financial ‘romance’ between FCMB and FinBank,Diamond Bank says it is on its way to acquire Oceanic Bank. It would be recalled that Oceanic Bank was one of the ailing banks bailed out by Central Bank of Nigeria when the toxic debts profile of the bank became unbearable. At the peak of the crises that rocked the Nigerian financial sector, the former managing director, Mrs. Cecelia Ibru was arrested for mismanagement. She was jailed by the court. If Diamond Bank eventually takes over Oceanic Bank, then it would be good news because Central Bank had given it up to September 30 to get a buyer.Gistmaster.com gathered that it the take over won't involve cash purchase, rather it would be a share to share combination.

By Gistmaster.com The Group managing Director of Skye Bank, Mr. Kehinde Durosinmi Etti has been committed to prison over contempt charges by a Federal High Court In Lagos. Gistmaster.com gathered that problem for the Skye Bank MD started when he disobeyed a order of the court in a case involving Desange Nigeria Limited and the Nigeria Custom Service. Desange won a case against the Nigeria Customs in 2010.The court ordered Customs to pay Desange but it didn't, so the company applied for an order to garnishee the account of customs in five different banks namely Zenith Bank,GTBANK, Sterling Bank,Skye Bank and UBA. While the other banks complied with the court directive to pay the judgment sum, Skye Bank defied.Attempt by the Durosinmi-Etti led bank to get an objection to the garnishee proceeding was thrown out by the court as lacking in merit. Eventually, Skye Bank decided to issue a cheque to the tune of about N11 million (Eleven Million Naira) but when the company presented the sam

[caption id="attachment_6123" align="alignleft" width="199" caption="Aliko Dangote"] [/caption] Africa's richest man, Mr. Aliko Dangote has crashed the price of cement. According to what gistmaster.com gathered, cement would now be distributed at the price of N1,350. The end users are expected to buy it for not more than N1,500. Less than two months ago, people were buying cement between N2,300 and N2,400 (Naira) in the market. It would be recalled that the price of cement became unbearable to end users until months back when President Goodluck Jonathan Invited the four major companies in the cement industry in to a meeting. The Nigerian president told them to look ways to reduce the price of cement. Story- Gistmaster.com  

The funeral service in honour of Mr. Tayo Aderinokun of GTBank at the Ikoyi Baptist Church  ended some minutes ago. The church witnessed a large turn out of high profile personalities within the political, social and economic sectors who had come to send forth the departed former MD of GTBank to the bossom of the Lord. According to report monitored by Gistmaster.com, the Church service had in attendance the likes of Governor of Central Bank, Mallam Sanusi Lamido Sanusi, former Director General Of Nigeria Stock Exchange, Dr. (Mrs) Ndidi Okereke Onyikwe, Governor Kayode Fayemi of Ekiti State, Governor Ibikunle Amosu of Ogun State, Former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu , Mr. J.K. Randle, Designer, Deola Sagoe, former Most Beautiful Girl in Nigeria, Mrs. Nike Shonowo-Soleye and her husband, Dr. Tunde Soleye, Pastor Ituah Ighodalo . Expectedly, there was a large turn out of GTBank Staff. Interment of the departed would take place at the vault cemetery, Ikoyi but only

Mr. Tayo Aderinokun, the cerebral Group Managing Director of GTBank is dead. The 57 years old banker died in London today. He was ill for sometime and was on sick leave when the unfortunate incident occurred.    Gistmaster.com confirmed the news at the bank headquarters today.   Last month, Segun Agbaje was appointed acting MD of the bank. Aderinokun co-founded Guaranty Trust BANK (now GTBANK) with Fola Adeola, another astute banker turned politician. The bank is regarded as one of the fastest growing in Nigeria.  Last month staff and friends of GTBANK used his last birthday to pray for their beloved friend and boss.    A press statement forwarded to gistmaster.com reads   "With a deep sense of loss, but with gratitude to the Almighty God, we write to notify you of the passing on to eternal glory of our dearly beloved Managing Director/Chief Executive Officer, Mr. Tayo Aderinokun.  Mr. Aderinokun who had been on Medical Leave, passed on this afternoon, Tuesday, June 14, 20

[caption id="attachment_4790" align="alignleft" width="121" caption="Tayo Aderinokun, MD Guaranty Trust Bank (GTBANK)"] [/caption] The managing director of GTBank, Mr. Tayo Aderinokun is dead. He died in a London Hospital. When Gistmaster.com sought the comment of the corporate affairs department of the bank today, his death was confirmed. Mr. Aderinokun has been on sick leave from work for sometime. Mr. Segun Agbaje, an executive director with the bank was made the acting MD last month. Aderinokun's 57th birthday was celebrated with prayers by staff of GTBank at their various places of worship on 8 May 2011. The official statement from GTBanks reads "With a deep sense of loss, but with gratitude to the Almighty God, we write to notify you of the passing on to eternal glory of our dearly beloved Managing Director/Chief Executive Officer, Mr. Tayo Aderinokun. Mr. Aderinokun who had been on Medical Leave, passed on this afternoon, Tuesday,

Chief Willie Maduabuchi Obiano holds a B.Sc. Second Class Upper in Accounting from Unilag (1979) and an MBA in Marketing also from same university. Willie Obiano is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). Chief Willie Obiano was John F. Kennedy Essay Winner 1974 at CKC and holds a national Merit Certificate for outstanding service during his NYSC(National Youth Service Corps) in Benue State, Nigeria in the 1979/80 Service Year. Chief Willie Obiano is the President AMP8(Advance Management Programme) of Lagos Business School for Ten years running. Willie Obiano is also a 2006 BNV(Building New Ventures) CLASS member of Harvard Business School, Boston USA, Standard University Also he is the Patron, Institute of Chartered Accountants of Nigeria (Lagos Mainland District) and National Youth Council of Nigeria, Anambra East Chapter. He is also Patron of the following Catholic Groups: 1. St. Anthony of Padua. 2. Catholic Artistes and Entertainers Association of Nige

[caption id="attachment_5317" align="aligncenter" width="480" caption="Charles Anazado (Super sport presenter)Tochukwu Mogekwu (MCB winner assistant coach)Victor Ikpeba_(Ex-super Eagles/Sports Analyst) Oliver Anozie (MCB winner TV Analyst),Colin Udoh (Super sport Match Analyst) "] [/caption] Guinness Nigeria, producer of the world’s most celebrated alcoholic lager and organizers of the much anticipated match, between Nigeria and Argentina, GUINNESS THE MATCH has succeeded in bring smiles to the faces of the remaining 5 Nigerians who emerged successful in the recently conducted once in a lifetime opportunity competition on Beat FM. The competition was conducted in several categories to give successful Nigerian football fans the opportunity to play major roles in the success of the event ranging from commentary, coaching of the team, analysis to rendition of the national anthem. The match is going to be a historical event because Argentina is one o

First City Monument Bank (FCMB) Plc has released its financials for the year ended December 2010 declaring profit after taxation of N7.9 billion and a proposed dividend of 35kobo to the shareholders. The N7.9 billion profit after taxation declared by the bank represents 837 per cent growth in post-tax earnings on an annualised basis compared to the N564 million for the 8-months ended December 2009, following the 2009 change in financial year-end. The Group audited result for the financial year also showed that while profit after taxation grew by 837 percent, Gross earnings for the Group was N63 billion, a 17 per cent annualised growth over the period ended December 2009. A statement by the bank also showed that Risk assets grew by 38 percent from N240 billion as at December 2009, to N330 billion as at December 2010. Net interest margin however, narrowed during the year. This, the bank said was due to the low interest rate environment and the focus on high quality credit, resulting in a

The former managing director of Intercontinental Bank plc, Dr. Erastus Akingbola and a former director of the bank, Mr. Adebayo Dada stood for trial today at the Ikeja High Court. But the case was adjourned following the controversy over, whether or not the accused persons should take their plea. Akingbola, his wife and Dada were charged to court by the Economic and Financial Commission (EFCC) for  alleged mismanagement of fund and theft amounting to N47 Billion (Naira). Lawyer to the former bank chief, Chief Felix Fagbohungbe told the court this morning that the court headed by Justice Habeeb Abiru that Akingbola and Dada should not be compelled to enter the dock and take their  plea since he has already applied for a stay of proceedings. Fagbohungbe said the cases that his client is being charged before Justice Abiru similar to others against the bank chief. Akingbola's wife was absent in court. EFCC have already declared her wanted. Justice Abiru have adjoured Akingbola's ca

  As Nigerians and international football community look forward to the much talked about friendly match between Nigeria and Argentina national team, Samson Siasia,Super Eagles head coach declared he is not carried away by the supposed Argentine list omitting World Best player, Lionel Messi and Carlos Trevez. The Super Eagles and Argentine team are expected friendly match is slated for 1 June 2011.The match is sponsored by Guinness Nigeria Plc. Siasia told the media that the match would be beyond just one or two names, insisting that both countries cannot afford not to field their best players. “Messi and Tevez are not the most important players in Argentina so we are not complacent about their rumoured absence,” Siasia said. “Argentina will never raise a substandard team against Nigeria because they too want to maintain their record of the unbeaten runs. "We are focused and will give the match all it takes. Argentina is one of the world's most successful football nations. Any

Tayo Aderinokun the Group Managing Director of GTBank was showered with prayers of love and best wishes from friends and associates within and outside his place of work.Aderinokun, who is recuperating from illness clocked 57 years yesterday 8 May 2011. Most friends and staff of GTbank celebrated Aderinokun with their prayers Here is wishing one of the top players of Nigeria banking industry soonest recovery. -By Niyi Tabiti Related links Tayo Aderinokun, GTBANK MD is dead Lekki International airport to take off soon in Lagos How Rochas Okorocha won Imo State Governorship seat Seun Olubukola and Niyi Adewunmi's wedding photos Bolanle Sokunbi and Folahan Aboderin wedding photos Omotola Jolade rubbished 'Mr. too forward' at Silverbird Galleria 10 reasons female celebrities find it hard to settle down Leila Fowler Opens new boutique Genevieve Nnaji launch own Fashion label Photos:Mania magazine launch party in Lagos Nollywood baddest chics

Nigeria billionaire, Mr. Jimoh Ibrahim has bought Newswatch magazine company. The oil magnate who is well connected within and outside the ruling Peoples Democratic Party recently held a meeting with members of staff of the company and he told them that he wont tamper with their editorial contents, rather his dream is to ensure that money is pumped into the company so that the publication can run smoothly.Gistmaster gathered that under the new arrangement, Mr. Ibrahim will among other things pay off the 7 months salaries being owed staff.  Newswatch was founded in the 80s by late Dele Giwa, Ray Ekpu and others. The magazine used to parade notable Nigerians such as Chief Tony Momoh, Otunba Mike Adenuga and Chief Alex Akinyele as directors.Newswatch was used as a platform to fight the tyranny and oppressive government of the  military at that time.    Newswatch magazine Editor in Chief in 1986, Mr. Dele Giwa was killed in a letter bomb attack, which many considered to date as one of

By gistmaster.com Nigerians using bank services have been lamenting the state of technology infrastructure used by most of the banks. Findings by Gistmaster.com show it was easier for a camel to pass through a niddle hole than for them to access payment using ATM machines. Worse still, most of those abroad trying to send payments home via internet services were caught in the web of ‘the server is down’ notice. A UK resident who spoke to gistmaster.com said it was frustrating to get payment done through the Gtbank website. As expected, there was huge turn out at branches of most financial institutions on Wednesday after the holiday. Most branches of GTBANK witnessed long queues. Most customers believe that GTBank has one of the largest customer base but they should  spend more money on building their IT infrastructure to be effective. The queues persisted on Thursday 28 April 2011 with most of ATM machines witnessing interrupted server service and the long queues inside the banks unbear

[caption id="attachment_4724" align="alignleft" width="500" caption="Stella Atiba"] [/caption] By Niyi Tabiti Stella Atiba is a reporter's delight. Beautiful and sophisticated, Stella Atiba is one woman who have seen it all. Aside her outward alluring beauty, Stella is also well  endowed inside. When she talks about her dream for Nigeria, you wonder why people in the political system of Nigeria have not been tapping into the enormous potential of this Nigeria woman.Stella is the President/ CEO of African Recycling & Enviromental Preservation Ltd (AREP) Yes, she lives well and fly in the comfort of her private jet but Stella has a clear vision- to make life better for her fatherland. She told gistmaster.com recently in Lagos that she is very passionate about her 'waste to energy project'. She noted that Nigeria cannot make good economic progress without solving the issue of electricity. A lot of people have made different suggestio