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100 Polaris Bank Staff Threaten To Shut Down Operations Nationwide Over Unpaid Salaries

Crisis As 100 Polaris Bank Staff Threaten To Shut Down Operations Nationwide Over Unpaid Salaries

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Crisis As 100 Polaris Bank Staff Threaten To Shut Down Operations Nationwide Over Unpaid Salaries—-All does not seem well for Polaris Bank Limited as emerging reports indicate that the bank is currently being troubled over its recent controversial sale by the Central Bank of Nigeria.

Reports had it that incoming administration of Bola Tinubu on 29 May 2023 may reverse the controversial sale of Polaris Bank after inauguration.

It would be recalled that in October 2022, the CBN sold the bank for a paltry N40 billion under controversial circumstances, after sinking over N1.2 trillion into it.

The sale, however, triggered a wave of allegations from lawmakers, trade unions, and other opponents who described the deal as a foul play.

According to reports, the apex bank sold the bank to Strategic Capital Investment Limited (SCIL), which was said to be managed by Auwal Lawan Abdullahi, a son-in-law of Ibrahim Babangida who holds the Sarkin Sudan Gombe traditional title from the north-eastern state, despite his limited credentials in banking and finance. It was learnt that the sale meant that Nigerian taxpayers lost around 97 per cent of state investment in Polaris. As at December 2020, AMCON investment in the bank stood at N848 billion, per company filings, with insiders say an additional N350 billion was poured in between January 2021 and July 2022

Amidst the bedeviling crisis, some customers of the bank, small and medium enterprises in particular, are reportedly withdrawing their money to safer banks over fear of imminent distress.

According to inside sources in the bank, the bank has lately lost some customers (depositors) who are edgy about their deposits and have lost trust in the bank because of huge job losses and unethical industrial practices currently going on in the bank.

Sources also revealed that for the second month, over 100 branch managers of the bank are placed on suspension without pay for having non performing loan ratio above 5%.

However, it was gathered that these loans were duly approved and interests earned by the bank. Some of the managers told our correspondent that they did not book most of the loans but the loans were referred and booked by other senior staff who are walking about freely.

According to Labour laws, suspension of a worker without pay should not exceed two weeks but the bank initially issued letters of suspension for 30 days. After the expiration, the suspension without pay continued for another two months without further advise to the staff.

Some of the staff who spoke to newsmen said the management of the bank insisted that staff “on suspension must come to work daily and are drilled for performance review on a daily basis with the managing director presiding over the weekly meetings which lasts late into the nights.”

According to reports, some aggrieved staff of the bank have dragged the bank before the

National Industrial Court in Lagos and Abuja. Some of the aggrieved staff have also declared a mass protest against the bank on Tuesday next week. It was learnt that the protest would be nationwide.

It was reported that because of the obvious signs of distress in the bank, a number of individuals and SMEs have closed their accounts with the bank and moved their deposits to safer banks.

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APFSPN Set To Host Inaugural Town Hall Meeting And Induct New Members

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APFSPN Set To Host Inaugural Town Hall Meeting And Induct New Members

……APFSPN Town Hall Meeting and Induction of New Members Set for June 17

The Association of Professional Food Service Providers of Nigeria (APFSPN) has announced plans to host its Inaugural Town Hall Meeting and New Members Induction Ceremony on Wednesday, June 17, 2026, at the Professor Wole Soyinka Centre for Arts and Culture, Iganmu, Lagos.

The landmark event, themed “The Business Behind the Plate,” is expected to bring together stakeholders across Nigeria’s food service ecosystem, including caterers, restaurant owners, event food service providers, culinary professionals, food entrepreneurs, policymakers, and development partners to discuss the future of the industry and strengthen professional collaboration. 

Speaking at a media briefing ahead of the event, the newly elected President of APFSPN, Mr. Tobi Fletcher, said the Association was established to address the longstanding absence of structure, institutional support, and unified representation within Nigeria’s rapidly growing food service industry. 

According to him, despite being one of the most vibrant sectors of the economy, the food service industry has operated for too long without a coordinated voice capable of driving standards, recognition, and sustainable growth.

“APFSPN exists to professionalise the food service industry. We exist to give caterers, food vendors, restaurant owners, event food service providers, and every professional who works behind the plate a platform for growth, recognition, and collective strength.” — Tobi Fletcher, President, APFSPN

He explained that the theme of the event, “The Business Behind the Plate,” reflects the economic realities and entrepreneurial ecosystem surrounding food service delivery in Nigeria.

“Behind every plate of food served at an event, in a restaurant, or at a corporate function, there is a business, a dream, and a livelihood. More importantly, over 90 percent of our members are women who wake up every day to build sustainable businesses and contribute meaningfully to the economy. APFSPN is here to ensure that these businesses are supported, protected, and celebrated.” — Tobi Fletcher, President, APFSPN

Also speaking at the press briefing, the Vice President of APFSPN, Mrs. Ibidunni Layade, emphasised the Association’s commitment to capacity building and the welfare of its members. She noted that APFSPN is not merely a professional body but a support system designed to elevate the standards of food service delivery across Nigeria.

“Our members are the backbone of Nigeria’s hospitality and events industry. What APFSPN offers is a structured pathway for them to access training, mentorship, business development resources, and a community that understands their unique challenges. This Town Hall Meeting is the beginning of that journey — a space where every food service professional can have a voice and be heard.” — Ibidunni Layade, Vice President, APFSPN

Mrs. Layade further stated that the induction of new members at the event underscores the Association’s rapid growth and the hunger within the industry for formal recognition and collective representation. 

The Events Director of APFSPN, Ms. Temi Adelana, took the media through the programme of events for the Town Hall Meeting. She outlined a carefully curated agenda designed to combine ceremony, knowledge sharing, and networking.

“The event will commence at 9:00 AM with the arrival and registration of guests, followed by the opening ceremony, the presidential address, the keynote by our Guest Speaker, and the formal induction of new members. We have also incorporated panel discussions, an exhibition showcase featuring food service businesses, and structured networking sessions to ensure that every attendee leaves with tangible value and new connections.” — Temi Adelana, Events Director, APFSPN

Ms. Adelana added that the choice of the Professor Wole Soyinka Centre for Arts and Culture as the venue reflects the Association’s desire to position the food service industry within the broader narrative of Nigerian creativity, culture, and enterprise.

The event will also feature the formal induction of new members, reinforcing the Association’s commitment to building a professional body dedicated to excellence, ethics, innovation, and capacity development in Nigeria’s food service sector.

In further demonstration of the growing relevance of the Association, APFSPN disclosed that the event will attract international delegations and representatives from the Canadian Trade Commission and the Italian Trade Agency.

The Guest Speaker for the event is Former Minister of Information, Lai Mohammed; Aare (Dr.) Abisoye Fagade, DG/CEO of NIHOTOUR, while the Special Guest of Honour is High Chief Lai Labode, Aare Ona of Egbaland, and other top dignitaries.

With over 500 food service professionals and stakeholders expected in attendance, the event is positioned to become a defining moment for the industry and a launchpad for stronger institutional engagement.

Calling on the media to amplify the industry’s story, Fletcher described the gathering as more than an event.

“You are not merely covering an event; you are witnessing the beginning of a movement. We urge the media to help tell the story of the women and men who feed this nation and an industry that is ready to be recognised and taken seriously.” — Tobi Fletcher, President, APFSPN

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21-Year-Old Woman Dies After Staff Allegedly Forget Safety Rope During Brazil Bridge Jump (VIDEO)

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21-Year-Old Woman Dies After Staff Allegedly Forget Safety Rope During Brazil Bridge Jump (VIDEO)—-Tragic rope-jump accident in São Paulo leaves young woman dead as authorities detain six people and launch an investigation into safety failures.

A 21-year-old woman has died after being launched from a bridge during a rope-jump activity without being attached to the required safety rope in the Brazilian city of Limeira, São Paulo state. The victim, identified as Maria Eduarda Rodrigues de Freitas, fell approximately 40 metres after staff allegedly failed to secure her safety equipment before the jump.

The fatal incident occurred at the Ponte do Esqueleto trail, a popular destination for adventure sports enthusiasts. Video footage circulating on social media reportedly shows instructors carrying the woman to the jump platform before releasing her. Moments later, witnesses can be heard shouting that the rope had not been attached.

Emergency responders, including firefighters and paramedics, rushed to the scene but were unable to save her. She was pronounced dead at the site of the accident. Authorities say witness statements indicate a critical safety lapse may have occurred before the jump.

Brazilian police detained six individuals connected to the operation as investigators began examining the circumstances surrounding the tragedy. Reports indicate that some workers attempted to leave the area following the incident before being located by authorities.

The companies linked to the rope-jump operation have come under intense scrutiny as officials investigate potential negligence and safety protocol violations. The case has reignited debate over safety standards in Brazil’s growing extreme-sports industry.

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