MD Segun Oloketuyi Unhappy, Wema Bank Still Reeling From “Take Away” Of Big Money Intercontinental Hotel Earnings By Skye Bank’s Tokunbo Abiru

Skye Bank financed the construction of mega hospitality place located in Victoria Island Lagos – Intercontinental Hotel.

But for reasons that mystify those in the know, the management of the 5 Star hotel structured its operations in such a way that all transactions, down to day to day were carried out through Wema Bank.

And naturally, the financial institution headed by Segun Oloketuyi was the better for it.

And skye Bank suffered the loss of business, as well as possible returns on investment ploughed into the setting up of the luxury hotel.

Enter Tokunbo Abiru, the turn around boss appointed by Central Bank to soar the fortunes of Skye Bank.

He checked the books and looked into the returns on the funds ploughed into Intercontinental Hotel and stumbled on the deal between the management of the Hotel and Wema Bank.

Aghast, the bank boss strenuously kicked against what was in place and threatened a drastic actions against all those involved in the deal that saw competitor reaping where it didn’t sow.

The management of the hotel quickly cancelled the deal with Wema Bank and a new arrangement that transfer the services to Skye Bank put in place.

Checks revealed, Wema Bank is still reeling from the vacuum created by the taken away mega business that left a gap in it’s earnings.

And skye bank?

Abiru and his team are happy for a “job well done”.