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Home » Trending » Business » Ecobank Boils Over Lawson’s Unresolved Issue, Customers’ Panic Withdrawal Looms.
kolapo lawson - Ecobank

Ecobank Boils Over Lawson’s Unresolved Issue, Customers’ Panic Withdrawal Looms.

kolapo lawson - Ecobank

The bitter boardroom battle over CBN expose on Ecobank Chairman Kolapo Lawson is far from over.

Obvious lack of transparency in handling allegation of financial impropriety is making it rear its ugly head with dire consequences for the bank.

As a face-saving measure, the Chairman came up with a statement days back that he has resolved the settlement plan with AMCON; but Asset Management Corporation of Nigeria had also refuted the statement; calling Lawson a liar. He is yet to pay the debts, nor conclude a plan to do so. He owes N1.2bn with additional N1.6bn exposure to Ecobank susbsidiary.

Irked by the development, some shareholders who are yet to receive dividend in years past are unhappy “they keep recycling loans among the Ogas at the top, I’ve not received a kobo in the last 4 years” Mr George Okonkwo told younewng.

Though Lawson claim the loans are performing, younews gathered that Central Bank of Nigeria is questioning his fitness, A chunk of the management is also not in agreement with the situation. “Infact mark my word, management shakeup is imminent.”

A worried insider also said “Already there were huge panicky withdrawals in PortHarcourt and Lagos early in the week”.

Ecobank Transnational Incorporated (ETI) is just recovering from suspension from Capital Market; analysts are watching the big bang effect of this Kolapo Lawson’s financial probity.

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