Abia 2015: Group Petitions CBN Governor Over Diamond Bank Boss, Alex Otti’s Ambition


The governorship ambition of the Group Managing Director /Chief Executive Officer of Diamond Bank Plc, Dr. Alex Otti appears to have landed him into a serious problem as a socio-political group, South East Progressives Assembly (SEPA) has petitioned the Governor of the Central Bank, Godwin Emefiele over his refusal to formally resign his position and the alleged complicity of Diamond bank in the project.

In a letter addressed to the Governor, Central Bank of Nigeria, Godwin Emefiele , dated 29th August ,2014,signed by Hon. Ebere Uzoukwa; SEPA maintained that having formally declare his intention to run for the governorship of Abia state before the PDP state executive at the PDP secretariat in Umuahia on 13th August 2014, against the party’s zoning arrangement which favors Abia south to produce the next governor,  Otti who hails from Arochukwu in Abia North but now claims to be an indigene of  Umuru-Umuehim Nvosi, Isiala-Ngwa  South LGA in Abia central zone should have resigned his position in compliance with the law as the GMD/CEO of Diamond Bank before declaring interest to contest the governorship election.
SEPA also accused Otti of gross violation of banking rules and ethics and financial indiscipline unbecoming of a top professional banker and alleged complicity by the Diamond bank apparently in show of support to the governorship ambition of its chief executive officer.
In the letter, the group said: “We are constrained to write this letter as a follow-up to our earlier position on Dr. Alex Otti, the Group Managing Director/CEO of Diamond Bank Plc who is contesting the governorship of Abia state while still managing the day-to-day operations of the bank.
“We had earlier raised concern over seeming cases of gross violation of banking rules and ethics, financial indiscipline and political rascality exhibited by Dr. Otti regrettably in the face of deceit and falsehood ostensibly employed by Diamond Bank probably to give tacit support to the ill-conceived governorship project of its GMD/CEO. Dr. Otti’s activities, to say the least, are now heating up the polity as well as threatening the prevailing peace currently existing in Abia state. It is also noteworthy to establish herein that SEPA is a stakeholder in Diamond Bank considering the volume of investments and deposit our members have committed in the bank with Dr. Otti as the chief custodian.”
The group called on the CBN boss to make haste and clarify his position  on the alleged claim by Dr. Otti that he is solidly behind his governorship project while still serving as GMD/CEO of Diamond Bank as this is necessary to protect his reputation and that of the corporate image of the apex bank.
SEPA also informed Emefiele that her members and other associates have started withdrawing their investments and deposit as a result of Otti’s ill-conceived governorship project which alleged, is capable of collapsing the bank.
“Another disturbing scenario is that as we write this letter, your name and that of Central Bank of Nigeria are being dragged to the mud in Abia. Dr. Otti has continued to tell anyone who cares to listen how he secured your approval to continue sitting as GMD/CEO of Diamond Bank while pursing his governorship project. He is boasting that your support and protection as CBN governor are irrevocable so far his governorship ambition is concerned.
 “Otti’s huge and alarming spending and perceived unethical conduct are posing serious threat to the stability of Diamond Bank. You are aware that Nigerians had lost billions of Naira to financial indiscipline of some greedy bank chiefs whose activities contributed substantially to the untimely death of some commercial banks in the past”, SEPA added.
The group further accused Diamond Bank of deceit by denying in a well circulated press statement that Dr. Otti’s has not declared interest in the Abia governorship seat when in fact the top banker had at a formal declaration ceremony at Umuahia PDP secretariat on 13th August, 2014, vowed that zoning or no zoning he will contest the election. SEPA added that instead of abiding by the zoning policy of his party, Otti has continue to attack Gov. Theodore Orji and the state PDP, threatening to use his contacts to bring them down if they insist on zoning him out of the contest.
 “SEPA concluded that the bank may have chosen to trade on a very destructive path at the detriment of peoples’ investments. The position of the bank is not only false but deceitful and wholly unprofessional. Such naked complicity on a very sensitive matter such as this is quite unexpected of a corporate financial institution that acts as a custodian of peoples investments and deposit.”
247ureports.com reports that Diamond bank had days after Dr. Otti’s Umuahia declaration at the PDP secretariat in Umuahia, placed an advertorial signed by one Ikechukwu M. Omeife, Head, Public Relations, published on Sunday August 17, 2014,edition of ThisDay newspaper,  denying Dr. Otti and his governorship project.
 “Dr. Alex Otti has not declared his candidacy for the 2015 gubernatorial elections nor any elective post for that matter. He is, however, not unaware of the media speculation around his possible candidature, a situation he has preferred to ignore in order to concentrate on his principal responsibility of managing the day to day operations of Diamond Bank Plc, and in particular, ensuring the success of the ongoing Rights Issue to raise additional capital,” the advertorial read in part.


  1. It is a huge shame that your organisation can’t see anything good in Alex Otti. It shows the decadence to which the state has degenerated . Any thing negative about the in coming Saviour of Abia state is given prominence by your blog.
    For your information , the good people of Abia is aware of the brain behind the publication.
    The new political landscape in Abia was decent and friendly, with political opponents being decent in their language and extending courtesies to each other before a political neophyte resigned his appointment to avoid sack over ignorious activities in the name of FGN during his assignments on behalf of the country.
    He should concentrate on his efforts to sale himself to Abians than running others down. He should bring proof of his becoming a born again, convince Abians that he is no longer the the drunk, who drinks to stupor and is always helped home by friends and driver. He needs to convince Abians that he longer smokes Indian hemp and all manners of drugs and that he is reformed.
    The Ngwa people are getting wiser. He has to convince the Ngwa people that his behind the scene deal to snatch the candidacy from Ngwa is not devious.
    The secret reason for the Zoning to Abia South is now known. It is intended to throw out qualified Ngwa sons, knowing that gladiators in Obi Ngwa will fight to the last , thereby giving the drunk , Indian hemp smoker a smooth run to the ticket.
    Too bad, Dr Alex Ottis insistence to run is putting a spanner to his works and plans of his sponsors .
    Abia must have a competent Governor come next year. Produce a better candidate than Dr Otti and he will gladly go back to do the fine work he is doing for Diamond Bank.

  2. Mazi ottie, must you change your community because of your need to become a governor? If you think you are popular, reign and contest. But for me oo, you better quit because you must surely fail.


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