FCMB Gives Reasons Behind Suicide By Its Manager

The management of the First City Monument Bank Plc (FCMB), has revealed that Olisa Nwakoby, a manager, who allegedly committed suicide on Friday, July 29, 2016, in front of Our Lady Star of the Sea Catholic Church, Lekki Peninsula, Lagos State, was battling serious depression due to some personal challenges and had become frustrated with life.

In an official statement released by the bank, it stated clearly that neither the management nor colleagues of the deceased were aware of the challenges, adding that it was working with Nwakoby’s family and the police to unravel the nature of the challenges. Nwakoby who was 44-years-old at the time he shot himself to death over a bad debt estimated at N350 million, was said to be the manager of the bank’s branch in Lekki. It was gathered that the deceased was said to have given out the sum as loan to a bank customer, who allegedly failed to service the loan and he was under serious pressure from the bank’s management to repay the loan and became frustrated as he could not meet the demand. However, the Acting Group Head, Communications and Brand Management of the bank, Lola Egboh, said the suicide had nothing to do with the bank, adding that she did not have the knowledge of any loan, saying the bank would have come to his aid if it was aware that he had emotional challenges. Said she: “It is rather unfortunate that the incident happened. Mr. Nwakoby was a member of staff of the FCMB. We are not aware that he was facing personal challenges, which led to the incident. As a bank that caters to the well-being of its workers, we have counselors who could have helped him. “This came as a surprise to us as it was to the public. It is such a trying time for the family; we have been in touch with them. There is a lot of speculations going on at the moment, a lot of them unfounded. We are working closely with security operatives and his family to understand what could have led to the personal challenges. I am not aware of any loan. I can’t comment on speculations.”