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Source: mikeangelonews - Nigeriafilms.com
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While the wife of Unity Bank Managing Director's wife, Ibim Semenitari, the former commissioner for information in Rivers state, is having a running battle with the new governor, Nyesom Wike, his banker's husband, Henry J. Semenitari, is definitely not having a good time as his bank, Unity Bank has ignominiously suspended as its Managing Director.

According to News of the People, the technical suspension was subtly described as compulsory leave, which is obviously the beginning of the exit of the banker from Unity Bank. The board of directors has resolved that he should proceed on compulsory leave after members of staff of the bank revolted with damaging allegations and evidences.

The entire scenario according to an insider is centered around alleged fraud and unethical practices. The managing director's dilemma was said to have began few months back when some staff sent a strong petition to an influential major shareholder in the bank who is also a former Nigeria leader who instructed the Chairman of the bank, Thomas Etuh to appoint a forensic auditor to investigate the allegations.

It was also alleged that all the allegations were later found to be true, according to the report of the auditors. At the beginning of the forensic investigations, Henry was advised to proceed on leave but he refused until when the investigation was concluded when he then volunteered to go on leave. At this stage the chairman was said to have told him it was too late, that the board directed he proceeds on suspension described in his letter as compulsory leave.

It was gathered that one of the major allegations was squandering of almost N100 million on bulletproof vehicles for his use. Another reckless spending cited in the petition is payment of productivity bonus allowances to some selected few and indiscriminate sack of staffers without recourse to the board of directors.

Sensing a looming crisis, a source informed that it was the recklessness of the banker that made the former chairman of the bank to resign with a decoy that he was pursuing a political career which he lost in his homestead of Katsina. Semenitari has been the Chief Executive Officer and Managing Director at Unity Bank Plc since January 2014.