Cecilia Ibru- Removal of Bank Chiefs Illegal…
The Chief Executive Officer of Oceanic Bank, Mrs. Cecilia Ibru OFR, who was removed by the Central Bank of Nigeria yesterday, condemned the action of the CBN in sacking the management of Oceanic Bank Plc.
Making a case for Oceanic Bank International Plc she said that her bank in its 2008 accounts had an asset base plus contingency liabilities of N1.6 trillion, an asset base of N1.246 trillion, a deposit base of N835 million, shareholders’ funds of N217 billion naira, and about N118 billion in earnings.
According to her, all these figures were approved by the CBN in the recently approved 2008 accounts of Oceanic Bank.
She added that the executive management was not presented with any bank examiners’ report, nor an opportunity to defend itself and that the action is viewed as a violation of the constitution of the Federal Republic of Nigeria and the rule of law of the federal government.
She appealed to all customers, shareholders, staff and other stakeholders to remain calm as “we look towards a speedy resolution of the matter.”
