Don’t tamper with Oceanic Bank, Ijaw group warns

Vanguard News

The Ijaw Monitoring Group (IMG) has warned against any attempt to acquire Oceanic Bank through foreign fronts of what it described as a Northern cabal.

In a statement condemning the current ordeal of the Chief Executive of the bank, Chief Cecilia Ibru, the group said the statement credited to the Central Bank Governor that foreign investors would be allowed to invest in the banks was an indication that the apex bank was willing to hand over the banks, especially Oceanic Bank to a powerful cabal.

The IMG statement signed by its Coordinator, Comrade Joseph Evah stated that although the group was not against the CBN playing a regulatory role in the banking sector, “but the manner the CBN Governor has been exerting his energy against the five banks without waiting for the report of all the 24 banks under examination is suspect”.

“This was how the subsidiaries of the NNPC were given out to this cabal during the military era while deceiving the public that they were restructuring the corporation. Till today, the NNPC has been under the control of the Northern mafia,” the group alleged.

“The Niger Delta people who see Oceanic bank as a symbol of our entrepreneurship ability will never allow any mafia to rubbish it and we are not against any well-meaning effort to strengthen the bank.

The CBN is still struggling to rediscover itself to face the challenges of world class banking as the Nigerian currency continues to slide in rating even in the West Africa sub-region.”

The IMG warned that the Niger Delta people will frustrate “any attempt to give out Oceanic Bank to any mafia through their foreign proxy.

We recall the Vanguard Newspaper report of March 23, 2009 that the government planned to acquire five banks and we warn that whoever messes with the bank will face the wrath of the Niger Delta people”, the group stated.


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