Daily Archives: August 1, 2024

Lifestyle …Says Extravagant Lifestyles Of Bank CEOs Eroding Public TrustNigerian banks are spending an estimated $50m annually just on maintaining private jets, with over $500m gone into purchasing nine private jets by four banks. Billionaire businessman, Femi Otedola,who is the chairman of FBN Holdings,said this in a statement signed by him.He said the level of extravagance of banks chiefs significantly erodes public trust in the financial institutions and diverts crucial resources away from vital areas such as operational efficiency, technological innovation, and customer service.He called on the banks to regain the trust of their customers by realigning their financial priorities and invest in areas that directly improve customer services and enhance technological infrastructure.On the appetite of the banking sector for private jets, Otedola said, “Amid the progress with banking sector reforms, there is an urgent...