The Acting Managing Director of Balogun Fulani Microfinance Bank, Mr. Issa Muhammed Erubu has been suspended indefinitely, THE INFORMANT247 reports.
He was directed to go on suspension with immediate effect and handover all documents and properties to the head of operations, Mr. Balogun Yunus Yinka Ayefele, who is the most senior officer, at a Board meeting today.
According to reliable source, the suspension is in relation with alleged mismanagement of funds, embezzlement, insurbordination and other gross misconducts against the banking rules.
