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Appointments

Dangote Sugar appoints new Acting Managing Director

The board of Dangote Sugar Refinery Plc has announced the appointment of Ravindra Singh Singhvi as its Acting Managing Director.

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Dangote Sugar Refinery

Earlier today, the board of directors of Dangote Sugar Refinery Plc informed the Nigerian Stock Exchange of the appointment of its Acting Managing Director.

According to a statement signed by the Company Secretary/Legal Adviser and issued to the NSE website, it was announced that Mr. Ravindra Singh Singhvi, Dangote Sugar’s immediate past Chief Operating Officer, is now the company’s Acting Managing Director.

The decision was taken by the company’s board during the company’s meeting on Tuesday 18th June 2019. The appointment took effect on that day.

Ravindra Singh Singhvi

About the Acting Managing Director: Ravindra Singh Singhvi has over 37 years experience in manufacturing, particularly in sugar production, textile products, cement, and petrochemical industries in India.

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Before joining Dangote Sugar Refinery Plc, he was the Managing Director/CEO of NSL Sugar Limited Hyderabad, India, and Managing Director E.I.D Parry Limited, Chennai India.

Equally, he was the president Indo Rama Synthetics India Limited, Birla Group and Executive Director at S Kumar Nationwide Limited among others. He was the national chairman of Power Committee of Indian Sugar Manufacturers Association.

He has helped companies enhance performance optimally and financially. Similarly, Singhvi has helped companies raise loans for projects and working capital from local as well as international banks, particularly in India.

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He has dealt at the level of Central Ministers, Chief Ministers, Principal Secretaries & various govt bodies to draft new policies, laws, etc.

Mr Singhvi oversaw the signing of the Power Purchase Agreement of 550 MW with the Govt of Karnataka State for various sugar companies. He was the Chairman of the Committee for Sugar Association for drafting of the new Sugar Cane Act in the State of Karnataka for fixation of Sugar Cane Price.

He is a chartered accountant with competence in Company Secretary and General Management. He holds a CA from The Institute of Chartered Accountants of India (ICAI) and a CS from the Institute of Company Secretaries of India (ICSI)

READ MORE: Dangote says Nigeria loses 300,000 MT of sugar to smuggling every year

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Ronald Adamolekun is a creative writer with proficiency in journalism, financial reporting, financial analysis and imaginative writing. However, his core competency lies in fiction and short story writing as well as feature writing. He is a graduate of English and Literature from Covenant University, Ota, Nigeria.

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Appointments

9PSB Board appoints Branka Mracajac as CEO

9 Payment Service Bank has announced the appointment of Branka Mracajac as CEO designate.

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The Board of Directors of 9 Payment Service Bank (9PSB) has announced the appointment of Branka Mracajac as the CEO designate. A seasoned Enterprise Resource Planning expert, Branka brings on board, an enviable record of accomplishments in digital financial services and risk management.

Prior to her appointment by 9PSB, Branka demonstrated her ingenuity during her stint at Digital Finance International in Russia and other markets. She is a versatile professional with top management experience of over 15 years in digital finance across 30 markets globally.

The Serbian national has worked in accelerating the adoption of digital payments and facilitated financial inclusion for various markets across Europe and other emerging markets around the world.

The Central Bank of Nigeria recently granted final approval to Nigeria’s digital lifestyle bank, 9PSB, to commence operations in fostering financial inclusion in Nigeria’s banking ecosystem.

With Branka’s leadership and experience backed by a competent and committed board of directors, 9PSB is set to deliver high-end digital banking and financial inclusion services that will make transactions easier, convenient and accessible for people of all social classes in Nigeria.

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Speaking on the appointment of Branka, the Chairman, Board of Directors, 9PSB, Chief Ikenna Kevin Okafor, stated that, “Branka is experienced in business strategy, corporate finance, policy implementation and risk management. I am certain that she will provide strategic leadership which will facilitate financial inclusion and increase financial payment across all market segments in the urban and rural areas of Nigeria.”

Responding to her appointment, Branka stated that “The pace of change in today’s Fintech industry is exceptional and I am delighted to be offered the opportunity to lead 9PSB at this early stage in its development. I look forward to using my experience to launch the 9PSB brand into the Nigerian Fintech market. The goal is to ensure that we are at the forefront of financial inclusion using the most innovative offerings.”

Ahead of the appointment of a CEO, the Board of Directors at 9PSB worked round the clock with a team of consultants who helped in establishing the company in the last 16 months. Members of the 9PSB’s board of Directors include Asega Aliga, Olurotimi Oladimeji Adebanjo, Amina Tukur-Tarfa, Samuel Okwulehie, Mohammed Edewor, Phillips Oki, Simeon Oyakhilome Okoduwa and Chief Ikenna Kevin Okafor, who chairs the board.

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They all come with rich and varied pedigree, which they have deployed at the disposal of 9PSB. Leading the board is Chief Ikenna Kevin Okafor, a philanthropist and the ex-President of the Southern-east chapter of the Lagos Business School Association. On his part, Mr. Asega Aliga is an investment banker, entrepreneur and financial services professional. He is passionate about capacity building and strategic global alliances for Pan-African investment opportunities.

Mr. Olurotimi Oladimeji Adebanjo holds an MBA from the University of Pretoria and is currently the regional director, South and East Africa at e-tranzact Global, South Africa. Serving as the only female on the board, Amina Tukur-Tarfa is a highly engaged individual with over two decades of top flight experience in the areas of HR Recruitment, Operations, Employee Services and Administration. She also has, relevant experience as a HR Generalist and HR Specialist with key areas of knowledge and proficiency.  Equally on the board is Mr Samuel Okwulehie, a Senior Advisor at Boston Consulting Group. He has a vast experience in commercial operations and global logistics gained from many years in the international airline industry.

Mr. Mohammed Edewor (Esq) is a serial entrepreneur and erudite lawyer with over 40 years of business and legal experience. Edewor has vast business interests in telecommunications, banking, manufacturing, oil and gas. Also, on the board is Mr. Phillips Oki an Economist and Fellow of the Institute of Chartered Accountant of Nigeria (FCA). He is a seasoned venture capitalist. Mr. Simeon Oyakhilome Okoduwa brings to the board, his core areas of expertise and experience which includes Corporate & Commercial Law Advisory; Dispute Resolution/ADR; Corporate Governance Audit & Remediation and Doing Business Advisory.

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Appointments

GRI appoints NSE’s Bola Adeeko as board member

Bola Adeeko has been appointed as one of the four new Board Directors of Global Reporting Initiative.

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GRI Appoints NSE’s Bola Adeeko as Board member

The Global Reporting Initiative (GRI), the provider of the world’s most widely used sustainability reporting standards, has announced the appointment of Bola Adeeko as one of its new four Board Directors.

The announcement was made by GRI on Tuesday, 17 November 2020. The appointment of the four new board appointees will take effect from January 2021. Appointments to the Board are on a voluntary basis and members serve a term of three years. The membership is refreshed on a regular basis with a global public call for applications.

Mr. Bola Adeeko is the Divisional Head, Shared Services at the Nigerian Stock Exchange (NSE or The Exchange).

What they are saying

Speaking on the election of Bola Adeeko into GRI, the CEO of NSE, Oscar N. Onyema, said, “Bola’s election is very timely as the need to deepen sustainability reporting in Nigeria and across the African continent becomes more pertinent during the decade of action.  I am very pleased that he would be extending his professional competence to ensure that reporting on impact becomes common practice by many organizations around the world.”

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Commenting on this development, Mr. Adeeko asserted that, “I am honored to be appointed to the Board of the GRI, which remains the ‘gold standard’ in sustainability reporting. The GRI has been an invaluable partner in advancing corporate responsibility in Africa, consistently deepening its engagement with stakeholders. I look forward to joining the returning board members and management team to build on successes recorded to date and promote sustainable business practices to deliver positive change.”

(READ MORE: Egbin Power launches electric buses, bicycles, promotes clean energy)

Why this matters

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Mr. Adeeko’s appointment comes at a time when corporate sustainability is high on the global agenda – reinforced by the impact of the pandemic and the need to quicken progress on the Sustainable Development Goals – all of which emphasizes GRI’s leadership role as an enabler for transparency and accountability.

What you should know

GRI is the independent, international organization that helps businesses and other organizations take responsibility for their impacts, by providing them with the global common language to report those impacts.

Mr. Adeeko currently heads the Shared Services Division of The Nigerian Stock Exchange (NSE), where he is responsible for shaping the technology agenda and driving innovation.

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Appointments

Society for Corporate Governance Nigeria appoints Chioma Mordi as new CEO

Mrs. Chioma Mordi has been appointed as MD/CEO of the Society for Corporate Governance Nigeria.

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The Board of Directors of the Society for Corporate Governance Nigeria has announced the appointment of Mrs. Chioma Mordi as its new Managing Director/Chief Executive Officer.

This announcement was disclosed to Nairametrics in a press release signed by the President and Board Chairman of the institution, Mr. Muhammed. K. Ahmed.

READ: Nigeria not broke, budget to be passed before end of the year – Budget Office

What you should know

Mrs. Mordi had taken over the leadership mantle of the Society on October 7, 2020. She took over from Mrs. Hilda Nkor who is the immediate past CEO of the Society.

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Until her appointment, Mrs. Mordi served as Chief Operating Officer (COO) of the Society for Corporate Governance Nigeria. As COO of the society, she played a crucial role in facilitating key national and international collaborations with prominent institutions such as CBN, NDIC, NSE etc. which further bolstered the reputation of the firm.

READ: Orange launches high speed internet network in Nigeria, Ghana, and 6 others

What they are saying

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Commenting on her appointment, Mr.Muhammed said: “She (Mrs. Mordi) has over 10 years’ experience working in operations, strategic development & execution, programmes curriculum development, partnership engagement, and research experience with a focus on corporate governance and leadership, all at The Society for Corporate Governance Nigeria.

“She has grown through the ranks of the organisation, developing strategic leadership and management capabilities that has prepared her to lead the Society to greater heights of impact and value.”  

READ: Automakers need to create greater value for Nigerians – GAC

An elated Mrs. Mordi, while accepting the role said: “Nigeria is a great nation that the Society will continue to craft strategies in repositioning its corporate governance processes especially in this unique and interesting times.”

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