BNW

B N W: Biafra Nigeria World News

Hayatu-Deen Steps Down at FSB By Ayodele Aminu The Managing Director/ Chief Executive Officer of FSB International Bank Plc, Mohammed Hayatu-Deen, has resigned his appointment from the bank. A source from the bank yesterday said Hayatu-Deen, who assumed office on January 2, 1990, was stepping down "having dutifully completed his mandate." His resignation was made known to the board of directors of the bank last Thursday. A few weeks earlier Hayatu-Deen who had been the Chairman/CEO of the bank for a number of years, relinquished his chairmanship position but retained the portfolio of MD/CEO. THISDAY, however, reports that Hayatu-Deen's resignation might not be unconnected to the series of petitions against him by the former Chief Operating Officer of the bank, Mr. Chris Evans. According to sources, the Central Bank of Nigeria (CBN) had investigated the allegations against Hayatu - Deen, and found out that he may have a case to answer. Top CBN officials explained that Hayatu-Deen's decision to step down last week, was to pre-empt the CBN from issuing an official directive that he resign. Hayatu-Deen would however be remembered for turning around the fortunes of the loss-making Federal Savings Bank. The re-engineering of the bank after 18 months resulted in the phenomenal growth of the financial institution in the 14-year period that he served. In addition, he prepared the bank for privatisation within two years, and this was successfully accomplished in 1991. Hayatu-Deen, who trained as an economist in Ahmadu Bello University Zaria, is also an alumnus of the London and Harvard Business Schools. Before his career with FSB International Bank Plc, Hayatu-Deen was Group Managing Director/Chief Executive of Nigeria's single largest diversified holding company, the New Nigerian Development Company (NNDC) at 29. At the NNDC, Hayatu-Deen had responsibility for providing oversight to 140 companies. At FSB, Hayatu-Deen and his management team have over the last 14 years transformed the bank into a profitable and innovative financial institution. Keen observers of the banking sector say that the privatisation of FSB International Bank Plc represents one of the best examples of the privatisation programme of the Federal Government. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

	BNW News
Voice of Biafra | Biafra World | Biafra Online | Biafra Web | MASSOB | Biafra Forum | BLM | Biafra Consortium
	© 2001 BNW BiafraNigeriaWorld  Privacy Policy ---------------------------------------------------------------------------------- Powered by ACENetwork ----------------------------------------------------------------------------------
	Axiom PSI Yam Festival Series, Iri Ji Nd'Igbo the Kola-Nut Series,Nigeria Masterweb