Leadership (Abuja)
George Okojie
15 October 2008
The Managing Director of Sterling Bank, Mr. Yemi Adeola has decried the financial crisis in the nation's real sector, saying the country has lost over N4 Trillion to the crisis.
Sterling bank boss who made this amazing revelation in Lagos yesterday, immediately boosted the Lagos State Security Trust with a donation of N100 million from Sterling Bank, harping that it was high time concerted efforts were made to arrest the situation by saving the banks which he pointed out have become endangered species due to attacks by armed robbers.
He said that his organisation was glad to be part of the security rescue process, adding that the sources of funds to government are infinite when it comes to the protection of lives and property .
Adeola said that government alone could not provide the resources, arguing that solution will not come from heaven hence It has become imperative for other people and organisations to come in to help the government to achieve its security objective.
He lamented , ''in the past banks have been raided, people slaughtered and life went on without any form of arrest. We have continued and this should not be so. Of what use are beautiful gardens if we are being chased around by hoodlums.''
He commended the Lagos State security trust fund initiative and the way the funds generated had been utilised by men of proven integrity, challenging corporate organisations to play a role by donating to the fund as part of their corporate social responsibility.
''We have lost about N 4 trillion if we are looking for 2 billion to prevent and combat crime that it is not too much. So we should do everything to equip our policemen to protect us and our properties and stop armed robbers from attacking us.
Receiving the cheque, the Lagos State governor commended the bank for contributing its quota to the funds to enhance the operation of the state security outfit known as the Rapid Respond Squard(RRS).
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