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Nigeria’s Godfather of Banking Unveiled

He is ‘James Nzemeke’ now christened the fodfather of Nigeria banking sector due to his nemerous footnotes in the industry. This is on account of humongous assets he controls even when he’s not at the helms of any bank at the moment. With a thriving bank at his disposal and another merchant bank to run huge financial engineering accross the world, he’s indeed a financial godfather.
When you think of doing anything without recourse, he can be ranked among those such unusual privilege. For instance Although his bank with public liability status, the bank source its leadership mostly from within the premises of godfathers’s instruction.
In 2014, even his cousin simply identified as Ebenezer, became executive director, contrary to the Revised CBN Code of Corporate Governance for Banks in Nigeria, which forbids “members of the same extended family from occupying the positions of executive director and or board chairman” in the same bank. Nothing happened and that’s on account of his power.
The lesson among businessmen in Nigeria now is that to access any of federal government’s intervention fund, a wise decision is to bank with godfather’s financial institution. Understandably, he plays big in the monetary regulations and policy making through trusted ally.
Like the usual story of billionaire’s humble beginnings, he rose unconciously into the financial industry through unique transaction and thus become banker of bankers and one of the richest men in Nigeria.
-Mosun Usman
To be continued

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