No rift among our Board members – JAIZ Bank

JAIZ Bank has vehemently denied rumours of a rift among its board members over a succession plan – allaying the fears of investors, regulators, customers, and all relevant stakeholders.

This is according to a press statement issued as to that effect, signed by the company’s Secretary, Mrs. Rukayat Dahiru, and seen by Nairametrics.

READ: JAIZ Bank Plc appoints Sirajo Salisu, 2 others as Directors

The Bank affirmed that the matter of succession for the current Managing Director was considered by the board as the expiration of his contract approached. However, the bank was quick to assert that what transpired was just a “legitimate exercise of divergent opinions on a matter in the ordinary course of the Directors duties”

READ: Jaiz Bank Plc announces final dividend of 3 kobo for FY 2019

As a testimony to the cordial relationship in the board room, the press release revealed that the Board and Shareholders of the bank just commenced the process of raising additional equity of N3.3 billion through the private placement of 5,076,923,077 ordinary shares of 50kobo at 65kobo per share

READ: JAIZ Bank Plc set for private placement

What they are saying

A part of the press statement by the bank reads,

“Our attention has been drawn to a publication by the Vintage Press Limited (The Nation Newspaper), purporting a deep rift in the Board of Jaiz Bank Plc (the Bank).

READ: Infinity Trust Mortgage Bank Plc suffers 2.21% drop in Q3 revenues

“Jaiz Bank Plc will like to set the records straight for the attention and benefit of all our Regulators, Bankers, Shareholders, Customers, Investors, Strategic Stakeholders, and the General Public for the record.

“The Bank will like to state that there is no rift in the Board of the Bank other than the legitimate exercise of divergent opinions on a matter in the ordinary course of the Directors duties.’’

READ: Access Bank, First Bank up, investors gain N747 billion W/W