Former Wema Assets MD Arrested

The calm that pervades the banking hall of Wema Bank was rustled last week when Mr. Bayo Ogundipe, former President of Wema Asset Management Limited, a subsidiary of Wema Bank was, according to Proshare NI, arrested.

A source close to Proshare NI confirmed that Ogundipe moved to and detained at the Special Fraud Unit (SFU) at Milverton Road, Ikoyi in Lagos, Nigeria.

The source further confirmed to Proshare NI that Ogundipe was held over an alleged fraud of about N1.0 billion perpetrated during his tenure as the Chief Executive at Wema Asset.

Wema Asset had traded as the Trustee and Corporate Finance Division of Wema Bank, and subsequently as Investment Banking, Corporate Finance and Asset Management division under Adebisi Omoyeni, the erstwhile Group Managing Director (GMD) of the Bank.

However, Proshare NI could not gather more details on this, and as at the time of filling in this report, it could not also confirm the true situation from SFU as regards the arrest of Ogundipe.

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One Response

  1. hi

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