Mainstreet Board Not in Crisis, Says AMCON

The Asset Management Corporation of Nigeria (AMCON) Monday described as false a report from a national newspaper that the Managing Director/Chief Executive Officer of Mainstreet Bank Limited, Mrs. Faith Tuedor- Matthews, had been suspended by the board of directors of the bank.

 Head, Corporate Communications, AMCON, Mr. Kayode Lambo, in a text message to THISDAY Monday, said the corporation was not aware of such development.

Also, Tuedor- Matthews who addressed the media yesterday described the report as malicious.

Mainstreet, which was created in August 2011 through a ‘bridging’ process, is wholly owned by AMCON. The newspaper had alleged that Tuedor- Matthews suspension over alleged misappropriation of funds was after a board meeting last Thursday.

 

However, Lambo said: “As you know Mainstreet is one of the banks fully owned by AMCON and we are not aware any such meeting held. There is no record of such a meeting. We have further spoken with the managing director of Mainstreet Bank and she informed us that no such meeting was held.”

 

Speaking at the media briefing at the end of a board meeting, the Mainstreet Bank boss assured customers of the bank that there was no crisis in the financial institution.

 

“There was no board meeting on that day in the article. The article in its entirety is very malicious. We all know that this is a bank that so much money has been put in for us to turn around, and that is what we have been doing.

 

“It is malicious and intended to make this programme of turning around the bank much more difficult. It creates issues of confidence particularly for our customers. There is no crisis on the board of this bank and it is unfortunate for somebody to allude to something like that,” she added.

A statement from the bank also said: “Our board is intact and Mrs. Faith Tuedor-Matthews is and remains our GMD/CEO.”

 

 

Source: ThisDay