A bank manager working with a notable financial institution in the country has reportedly shot himself in the head.
The banker, Olisa Nwakoby, killed himself in front of his priest on Friday in the Lekki area of Lagos state.
Reports say Nwakoby, a branch manager with First City Monument Bank (FCMB) had approved a bad loan which was the source of his worries.
According to sources, Nwakoby was the approving officer of a loan that the debtor was not paying back and was in trouble with the bank.
With pressure mounting on all sides and apprehension over sullying his family name, the bank manager and father of a 10-year-old daughter shot himself in the head, dying instantly.
The deceased bank manager, Nwakoby was the son of Chief Patrick Oguejiofor Nwakoby who was a former chairman of First Bank of Nigeria Plc.
Bank Manager Commits Suicide Over Bad Loan
Chief Nwakoby was a successful lawyer , politician and a highly respected community leader before his death.
Reports however indicate that there was no foul play.
According to the reports, the banker had met with his priest for a confession before the incident.
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Mr. Nwakoby had told him to inform his wife to take care of their child and then proceeded to literally blow his brains out.
According to a source privy to the happenings,
“It was later discovered that he took money from the bank, N350million.
“And the money started creating problems for him. He killed himself.”
The Central Bank of Nigeria (CBN) had recently raised alarm about the rising trend of non-performing loans in the fiancial industry.
This led to the recent sacking of some members of the board of Skye Bank.
The CBN had indicated that it would investigate such bad loans.