Olisa Nwakoby, a manager with First City Monument Bank (FCMB), committed suicide last week by shooting himself, this was said to have happened in the presence of his priest, who he confessed to about a loan of about 350 million that he approved to an unnamed client of the Bank. The loan had turned into a bad debt as it was said to have been unpaid back to the Bank (the question is, Banks always experience bad debts/loans, if all due diligence were observed, it can’t be his problem per se, unless there were no proper approvals, which will make the problem land solely on his table). But then, does that warrant him killing himself?
I guess, several questions are going through your mind, but the answers…………………..
Was it because of the family name (his father was the Chairman of First Bank at some point)? This is even worse. What about the wife and child/ren?
This is real and scary, banking job can be dangerously tempting at times, most likely, he thought the loan will be paid back, but when it looks/seems impossible, his whole world came crashing. What a shame.