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Banker earning N470m a year suspended for stealing sandwich at staff canteen


banker suspended

A senior banker with America’s multinational investment bank and financial services corporation, Citigroup, has been suspended for allegedly stealing sandwiches from the staff canteen.

Paras Shah, 31, who reports said is likely to have been earning a seven-figure salary was, before his suspension, Citigroup’s head of high-yield bond trading for Europe, the Middle East and Africa.

He was removed from the position last month.

The bank suspended him following numerous allegations that he had been stealing food from its headquarters at Canary Wharf in east London, the Financial Times reported.

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It is unclear how many sandwiches Shah is alleged to have stolen, or over what period the alleged thefts took place.

The allegations come despite his role as one of Europe’s highest-profile credit traders.

The employee review website Glassdoor says the average salary for a credit trader is £183,740, but DailyMail reported that Shah is likely to have earned far more than that given his senior role at Citi.

A banking source told the Press Association news agency that those in similar positions at other banks could earn more than £1million (N470 million at N470 exchange rate).

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It was Shah’s job to match buyers and sellers of risky company debt and according to his LinkedIn profile he is skilled in securities, trading and risk management.

His suspension came weeks before senior staff at Citi were due to be paid their annual bonuses.

Shah’s profile shows he graduated from the University of Bath in 2010 with a degree in economics after attending the Latymer grammar school in Edmonton, north London.

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He joined HSBC’s fixed-income trading division scheme that year and spent seven years with the bank before joining Citi in 2017.

Shah’s profile shows he was promoted to head of Europe, Middle East and Africa high-yield credit trading after only two months with Citi.

Citigroup declined to comment to the Financial Times.


JUST IN: Governing Council sack UNILAG Vice Chancellor



National Universities Commission

The Vice-Chancellor of the University of Lagos (UNILAG), Professor Olawatoyin Ogundipe, has been sacked by the governing council of the institution.

His removal was announced during a meeting of the Governing Council of the institution which held at the National Universities Commission (NUC) building in Abuja today.

Seven members voted for the removal of Ogundipe (UNILAG Vice-Chancellor) while four voted against. One of the members voted that he should rather be placed on suspension.

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The meeting was presided over by its Pro-Chancellor and Chairman of Council, Dr Wale Babalakin (SAN).

Recall that the council chairman, Babalakin and the UNILAG Vice-Chancellor, Prof Toyin Ogundipe, have been at loggerheads over some issues relating to the running of the school.

The face-off led to the last-minute suspension of this year’s graduation ceremonies of the school.

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Based on the development, ASUU, UNILAG chapter under the leadership of Dr Dele Ashiru, held a Congress where Babalakin was declared unwelcomed on campus.

When the Council attempted to hold a meeting a few weeks ago, ASUU also fixed its congress for the foyer of the Council Chambers and the Council called off it’s meeting due to that.

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As a fallout of the matter, four senior professors in the school including Prof. Lai Olurode issued a statement lambasting ASUU’s stance and saying that the action amounted to overzealousness on the part of the union.

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Student who created Goodluck Jonathan’s parody account, freed after 82 days in detention



Olusola Babatunde, the final year student of Ladoke Akintola University and social media influencer who was arrested for creating a parody Twitter account of former President, Goodluck Jonathan has been released after spending 82 days in detention.

Media personality and Convener of #RevolutionNow protest, Omoyele Sowore announced his release via Twitter.

He tweeted;

#FreeShola has just been released from @PoliceNG detention in Abuja after more than 2 months for creating a parody account in the name of ex-President @GEJonathan, the former Pres. has also agreed to discontinue the bogus criminal trial. G-thanks to all! #RevolutionNow

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Recounting his experience while in detention, Olusola said;

 “There was no social distancing in detention. I guess the people in the cells are exceptional. It is like COVID-19 doesn’t infect them and this is despite the fact that new suspects are brought in every day without testing.

“However, we had an incident just once. There was a Chinese man who was a gold miner who fell ill. He was taken to a hospital and tested positive for COVID-19, so he was hurriedly released.

“He was in the Force Intelligence Bureau department so only the suspects in that cell were tested. We were all at risk of getting infected with COVID-19.

“It wasn’t easy. I spent 82 days in detention, and I was transferred to three different cells. I wore the same clothes for 82 days.”

The student who expressed disappointment that he was arrested despite being one of Goodluck Jonathan’s biggest supporters, added;

“The funny thing is that I even tweeted good things about Goodluck Jonathan a few weeks before my arrest. I said Jonathan’s administration was better than that of the current president. So, I was shocked but this is Nigeria.”

When asked if he was still a fan of Jonathan, Olusola jokingly said “May God help us.”

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Spending money on a girl doesn’t make her love you- Reno Omokri tells men



Nigerian Lawyer and social media commenter, Reno Omokri has advised guys to stop spending money on a girl because he wants her to love him.

In one of his many nuggets he shared on social media posts, Reno Omokri said that such a relationship is parasitic.

According to him, guys who do such are only feeding the greed of a lady.
“Dear men,

No matter how much you water a dead plant, it wont produce flowers. Stop spending money on a girl because you want her to love you. That is not how love grows.

“You are only watering her greed. A girl that loves you will love you for you. ‪It is not love. It is a parasitic relationship! Emancipate yourself from financial chemistry!”, he wrote.


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See Tweet below;


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