UNITY BANK MD SENT ON INDEFINITE LEAVE BY BOARD

The Managing Director of Unity Bank Plc Mr. Henry Semeniteri is fighting the battle of his banking career as he has been placed on compulsory leave by the board of the bank.
It was reliably gathered that Semenitari whose 10-day compulsory leave has elapsed has had the leave further extended “to allow for time to investigate allegations against him by some staff of the bank.”
Allegations against Semenitari were said to have been levelled by the workers of the bank who took the allegations to a former Nigerian president, who has a large stake in the bank.
The ex -president in turn directed the Chairman of the bank, Mr. Thomas Etuh to engage forensic auditors to investigate the allegations.
At the end of the initial forensic audit of the allegations leveled against Semenitari, “some cases of discrepancies” were discovered in the running of the bank, thus prompting the board of the bank to force him to embark of compulsory leave to allow for more detailed investigation of the allegations.
The Nation gathered that some of the allegations against Semenitari included spending of about N100 million on bullet proof vehicles, payment of productivity bonus allowances to some workers and indiscriminate sack of workers without recourse to the board of directors.
A source at the bank said Semenitari was still entitled to over 30 days official leave but that the board forced him to proceed on an initial 10 days leave which elapsed last week.
The source noted that the bank was being cautious in the way it handled the matter not to damage the fragile reputation of the bank and that the Central Bank of Nigeria (CBN) was paying close attention to the matter.
However, there are strong indications that he might likely resume work at the end of his current compulsory leave but what happens thereafter is for the board to decide.
Aisha Azumi Abraham, has been appointed Acting Managing Director/CEO of Unity Bank Plc pending the resolution of the crisis.