Clarifying the Facts: Truth About Obinna Oriaku’s Employment at First Bank

Abia State government’s tendency to resort to character assassination against dissenting voices, rather than providing logical explanations, if any exist, has led to the recent ridiculous attempt to distort facts surrounding the professional engagement of Mr.  Obinna Oriaku with First Bank Nigeria Ltd in 2010. It is important to set the record straight for posterity and for the benefit of those unfamiliar with the sequence of events.

Mr. Obinna Oriaku began his banking career in 1998 as a young graduate at FSB International Bank in Lagos. He quickly distinguished himself through outstanding performance, earning commendations from his supervisors. His competence and dedication paved the way for a steady rise within the banking sector.

He subsequently moved to Citizens International Bank, where he worked under the direct supervision of Dr. Kingsley Ononugbu, the current APC State Chairman. His journey continued through Diamond Bank (Enugu branch), FCMB, and finally BankPHB, consistently building a track record of professional excellence.

By 2006, Obinna Oriaku while with Bankphb Ltd had become the official banker to the Enugu State Government, managing major state accounts during the tenure of His Excellency Chimaroke Nnamani. Current Enugu State Governor, Peter Mbah was then the  Commissioner for Finance.

That trusted relationship continued under Governor Sullivan Chime from 2007 to 2015, during which time Oriaku served the state with integrity and professionalism.

In 2009, the Central Bank of Nigeria (CBN) under Sanusi Lamido Sanusi initiated sweeping reforms in the banking sector, which led to the removal of several bank MDs, including Mr. Atuche of BankPHB. This shift destabilised the Enugu State account, as the new leadership at BankPHB couldn’t keep up with the existing strategic relationships.

While efforts were underway to retain Enugu State’s banking business amidst better offers from competing banks, Governor Sullivan Chime attended the burial of President Umaru Musa Yar’Adua in Katsina, where he met Dr. Alex Otti, who was also present with Governor Rotimi Amaechi of Rivers State.

On their return flight with a Rivers State private jet, Governor Amaechi formally introduced Alex Otti, praising his management of Rivers State accounts at First Bank. This conversation laid the groundwork for Enugu State’s eventual decision to move its accounts to First Bank Nigeria Ltd.

Upon returning to Enugu, Governor Chime directed the state’s financial team to begin transitioning to First Bank. However, there was initial hesitation, with key stakeholders including the Accountant General, Mrs. Eunice Ugwu, and Chief of Staff, Ifeoma Nwaobodo, considering alternatives such as Fidelity Bank or Access Bank.

Despite these deliberations, Governor Chime remained firm in his position. He insisted that First Bank must retain Mr. Obinna Oriaku as the Relationship Manager for the Enugu State account. The state government made it explicitly clear that it was not interested in working with any other officer.

First Bank, however, initially failed to meet the terms of the negotiation with Mr. Oriaku, who subsequently rejected the offer. In response, the Enugu State Government formally instructed the Ministry of Finance to halt the change of doimicilation to First Bank until the issue was resolved.

This prompted First Bank to revise its offer to align with the expectations previously discussed. Only then was the relationship successfully moved from BankPHB to First Bank, with Mr. Oriaku in charge.

It is therefore misleading and frankly dishonest, for anyone to suggest that Alex Otti “offered a job” to Obinna Oriaku out of sympathy, ethnic solidarity, or personal generosity. Mr. Oriaku was never out of a job; in fact, it was his professional value that compelled Enugu State to make his retention a condition for the banking relationship.

During the Five  months that Mr. Oriaku worked under Alex Otti at First Bank, he proved so effective that Otti deployed a now-late Executive Director of defunct Diamond bank to Enugu to negotiate a move of the state’s account to Diamond Bank. Oriaku declined the offer, choosing instead to remain at First Bank until the end of Governor Chime’s administration.

Following that, First Bank through the support of another seasoned banker Elder UK Eke GMD of FirstBank Holdco Plc, then seconded Mr. Oriaku to serve as Commissioner for Finance in Abia State, during which time he continued to draw his salary from First Bank for four full years as he served Pro bono. His appointment was based on merit and integrity, not on patronage.

Dr Alex Otti, did not stumble on Oriaku during an interview session and decided to extend favour for being either  Ngwa or Abian. Instead, Oriaku was a condition attached for the growth he witnessed while in FirstBank. 

It is unfortunate that Governor Alex Otti has resorted to using this professional history that he mischievously twisted as a deflection from pressing questions about corruption and misgovernance in Abia State. By twisting facts, he seeks to discredit a man who has built a solid career grounded in performance, loyalty, and professionalism.

This clarification becomes necessary not to engage in political drama, but to ensure that the truth is documented and preserved, especially when public servants are being wrongfully smeared to distract from the real issues affecting the people.

Culled from yet to be punished Memoir on his transition from banking hall to Executive council chamber Umuahia .