UNITY BANK’S MD HENRY SEMENITERI ENMESHED IN FRESH TROUBLE OVER N100M BULLET PROOF JEEPS
-Placed On Compulsory Suspension Again
-Board Appoints Replacement
-Obasanjo's Involvement 

It is not yet Eldorado for the Managing Director of Unity Bank Plc Mr. Henry Semeniteri, he is at the moment fighting the battle of his banking career as he has been sent packing as the boss of the Bank. But the process of his sack is coated in a garb of compulsory leave by the board of the bank. Semenitari whose ten day compulsory leave has elapsed few days ago has had his stay at home order further extended “to allow for time to investigate allegations against him by some staff of the bank.”

Trouble began for Semeniteri who is the husband of Ibim Semeniteri, an ex aide of former Rivers state governor, Rotimi Amaechi when staffs of the Bank petitioned the board of the Bank on their boss financial recklessness, they also took the matter to former Nigeria’s President, Olusegun Obasanjo, who has a large stake in the bank. Obasanjo however directed the Chairman of the bank, Mr. Thomas Etuh to engage forensic auditors to investigate the allegations.

And 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 vacate the MD seat to allow for more detailed investigation of the allegations, 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.

The development is said to have sent panic among shareholders some of whom are Nigeria’s high and mighty. They are said to have expressed concern about their investment. He may have also lost the exalted position as the board has already appointed Aisha Azumi Abraham as Acting Managing Director/CEO of Unity Bank Plc pending the resolution of the crisis.