Padding is a term normally in budgetary manipulation in Nigeria, but what a banker formerly with WEMA Bank allegedly does seems to be in the realm of transactional padding.

The accused, Akinyele Ogunpola,40, was on Thursday docked in a Chief Magistrates’ Court, in Abeokuta, for allegedly adding his own rate to loans being disbursed, thereby allegedly stealing up to N70million from his employer.

The defendant, is charged with conspiracy and theft.

The Prosecution Counsel, Insp Olaide Rawlings, told the court that the defendant committed the offence in October 2021 at Wema Bank Oke-ilewo in Abeokuta.

She alleged that the defendant with one other at large, conspired and stole N70million belonging to Wema Bank.

ALSO READ: WEMA Bank MD speaks on Pastor Tunde Bakare’s loan

She explained that the defendant was an employee of the bank working in the marketing department, where loan is being disbursed to customers who applies for loan.

She said when customers apply for loans, the defendant would include addition money to the loan.

The offence, she said, contravenes sections 516 ,383(1) and 390(9)of the Criminal Code Vol.1 Law of Ogun 2006.

The defendant, however pleaded not guilty to the charge filed against him

The Magistrate, Mrs I.O Abudu, admitted the defendant to bail in the sum of N5million with one surety each in like sum.

Abudu added that the surety must be a relative or a civil servant and must show evidence of tax payment to the Ogun government.

She thereafter, adjourned the case until Dec 5 for hearing.

In yet another demonstration of its unalloyed support for the growth and advancement of the careers of Nigeria’s teeming youths, leading innovative financial institution, Wema Bank, has employed 69 new graduates who recently completed its Bankers-in-Training Scheme.

The Bankers-in-Training scheme is an intensive 14-week programme to help develop well-rounded bankers who are taken through the rudiments of the profession before being employed by the bank.

With an average age of 27, this latest cohort was trained at the financial institution’s Purple Academy in Lagos. They underwent a general assessment to test for knowledge, comprehension and numeracy skills.

They also underwent technical assessment as the bank sought to refine their skills for modern and innovative banking requirements before integrating them into the system to put their knowledge into practice in Wema Bank and ALAT departments.

Commenting on the exercise, Chief Human Resource Officer, Ololade Ogungbenro, expressed delight with the quality of trainees, describing them as bright with an aptitude for banking.

She also added that Wema Bank would not relent in developing and enlarging Nigeria’s talent pool of bankers with adequately trained people who will further develop the sector.

“We have taken it as a duty at Wema Bank to upskill talents and set them on a comfortable pathway as they join us. Apart from our core banking business, we are also about talent development and management; hence we are delighted to have trained this new set of recruits and integrated them into the system,” she said.

Wema Bank, the creator of Nigeria’s first fully digital bank, ALAT By Wema, has an impressive track record of talent development and management.

Apart from the Bankers-in-Training Scheme, it launched an SME Business School last year to equip SMEs with the essential management knowledge required to effectively run their businesses and respond to challenges in a demanding business environment.

As controversy still greets the revelation that popular pastor, Tunde Bakare,took loans of billions of naira to build his church, a major bank involved, WEMA, has spoken about the deal.

A businessman and customer to the bank,Tunde Badmus, prompted WEMA’s MD, Ademola Adebise, to talk about it.

At an event, the MD said:

“I would want to address the recent news in the public space regarding our customer and in particular the main promoter Pastor Tunde Bakare.

While we are constrained by the reason of confidentiality to respond in details to this publication, we however want to confirm that the customer has maintained a credible relationship with our bank and there is no basis for us to contemplate any action to humiliate our customer. Furthermore, we will like to reassure our shareholders and customers that the bank has and will continue to operate with the highest level of corporate governance , following all rules, policies and procedures.

Thank you

Ademola Adebise,
MD/CEO Wema Bank.

Veteran journalist, Femi Akintunde-Johnson, shared the development on Facebook, alongside a vidro.

The assertion that banks do not joke with moneyed customers has come to the fore again as WEMA Bank has visited top singer, Davido, in Dubai.

This happened after he raked in N185m within two days, following a call for Nim-each donation from his friends.

Among the donors are Obi Cubana and Femi Otedola. The singer, however, did not disclose the amount sent to him from the likes of Femi Otedola, Obi Cubana, E-Money, Patoranking, and some others.

Celebrities that gifted Davido N1m includes Zlatan Ibile, Adekunle Gold, Mr. Eazi, Nengi, Chike, Teni, Charles of Play, Cubana Chiefpriest, Naira Marley, M.I, Phyno, Eniola Badmus, Nasboi, Sydney Talker, and Peruzzi.

Apart from the fact that WEMA is celebrating the artiste and the success of the donation, it is also tapping from the development by promoting itself.

The visit to Dubai came three days after the singer had announced via his verified Twitter account that the bank he opened the account with for the fundraising, Wema Bank, wanted to have a meeting with him.

Davido tweeted on Thursday , “Wema wanna have a meeting.”

However, as the fundraiser got heated, the bank hopped on the trend and made a post online with the inscription, “Na bank wey Davido dey use we go dey use now.”

On Friday night, however, the singer’s lawyer, Bobo Ajudua, shared pictures of Davido and Wema Bank officials with the caption, “Wema Bank finally touch down from Lagos. Ent law life will have you doing meetings at the wildest hours.

Reposting the post on his Instagram story, Davido said, “@wema_bank couldn’t wait”, revealing his location as United Arab Emirates.

The bank also reposted Ajudua and Davido’s post on their Instagram story.

The Board of Directors, Wema Bank Plc on Wednesday announced the appointment of Mr Oluwole Ajimisinmi as an Executive Director of the bank.

Mr Johnson Lebile, the Company Secretary and Legal Adviser, made the disclosure in a statement in Lagos.

According to the statement, Ajimisinmi, who is currently the Regional Executive in charge of the bank’s Retail, Commercial and Public Sector business in the Lagos Business Directorate, joined the bank in 2009 as the Company Secretary and Legal Adviser.

“Ajimisinmi is an experienced banking professional with over 25 years experience in legal, banking, financial risks mitigation, Commercial lending, transaction structuring, mergers & acquisitions, cross border business advisory and classified asset recovery across different business jurisdictions.

“Having started his career as a solicitor for law firms, he began his journey in banking with Prudent Bank. He led the Legal Team that worked on the successful consolidation of five banks, which included Prudent Bank Plc, EIB International Bank Plc, Cooperative Bank Plc, Bond Bank Plc and Reliance Bank Limited to form Skye Bank Plc.

“He went on to serve as Head, Legal Services Department for Skye Bank, overseeing legal services for the 207 branches of the bank and later joined Wema Bank as the Corporate Secretary and Legal Adviser of the bank, where he oversaw the responsibility of proffering opinions on all legal related issues, including but not limited to securitization of credits, deal structuring etc.

“He later became a Divisional Head of Corporate Services supervising over six Departments: Legal Services, Investor Relations, General Admin Services, Board Secretariat, Brand & Marketing Communications and Property Management.

“Ajimisinmi, currently has responsibilities for business development & supervises Lagos Business Directorate comprising 54 branches and five regional offices,” the statement said.

The new ED holds a Bachelor of Laws from the University of Jos and is an Associate Member, Chartered Institute of Secretaries & Administrators, UK & Nigeria

He also holds certificates from the Harvard Business School General Management Program (GMP 23) 2017, IMD Certificate Program: High Performance Boards 2017 and INSEAD Advanced Strategy for Directors, 2018.