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FAAN Recruitment scandal, Nigerians hit with over 60% delayed and cancelled domestic flights in 2018, Nigerian Airlines, delayed flight, Air travellers may soon witness fare hike due to VAT increase  FAAN Recruitment scandal, Nigerians hit with over 60% delayed and cancelled domestic flights in 2018, Nigerian Airlines, delayed flight, Air travellers may soon witness fare hike due to VAT increase 
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COVID-19 Update in Nigeria

On the 12th of April 2021, 44 new confirmed cases and 1 death was recorded in Nigeria.

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Appointments

Veritas Kapital Assurance Plc appoints new Executive Director 

Wole Onasanya has been appointed as the substantive Executive Director of Veritas Kapital Assurance Plc.

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Veritas Kapital Assurance Plc appoints new MD/CEO , Wole Onasanya is Veritas Kapital Assurance Plc’s new Executive Director 

Wole Onasanya has been appointed as the substantive Executive Director of Veritas Kapital Assurance PlcOnasanya’s appointment came after the resignation of Oyinlade Olalekan who previously served in the position. 

In a notification sent to the Nigerian Stock Exchange (NSE), shareholders, stakeholders and the investing public at large, the insurance company declared that the National Insurance Commission (NAICOM) approved Onasanya’s appointment.  

Consequently, Onasanya’s appointment took effect from Friday, September 20, 2019.  

[READ MORE: Ecobank Nigeria makes senior management appointments]

Profile: Wole Onasanya is an experienced insurance, strategy and finance executive with over two decades of experience in Nigeria and the United States.  

He worked as a Director at the New York office of American International Group (AIG) and as an investment banker with Credit Suisse in New York City where he closed several corporate transactions. He began his career as an analyst at the Lagos Office of Arthur Andersen (Now KPMG) and went on to work as an investment associate with Ocean and Oil Holdings where he worked on corporate development and M&A transactions. 

Before his appointment at Veritas Kapital Assurance Plc, he served as the Chief Financial Officer of Ellah Lakes Plc.  

He earned an MBA from Kellogg School of Management in the United States and a Bachelors degree in Economics (second class upper) from the University of Ibadan. He is a Chartered Accountant with the Institute of Chartered Accountants of Nigeria (ICAN). 

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His areas of expertise include insurance product development and pricing; corporate transaction execution; insurance strategy development and implementation, and strategic planning.   

A look into the Company’s financials: Veritas Kapital Assurance Plc financial statements for the financial year ended December 31, 2018, shows a 40% increase in the company’s gross premium. 

[READ ALSO: International Breweries appoints a new Director]

The group’s gross premium rose from N2.4 billion in 2017 to N3.3 billion in the period under review, indicating an additional N922 million. 

Veritas Kapital also recorded growth in its Net Premium which grew by 17% in 2018, hitting N1.9 billion up from N1.7 billion recorded in the 2017 financial year. Its loss after tax dropped to N695.2 million from N700.6 million in 2017.  

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Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Appointments

Usman Alkali Baba assumes office as new IG of Police

The FG announced that IGP Usman Alkali Baba assumed duty as the new Inspector General of Police on Wednesday.

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The Federal Government announced that IGP Usman Alkali Baba assumed duty as the new Inspector General of Police on Wednesday.

The FG disclosed this in a statement on Wednesday evening, citing that he is taking over from IGP Mohammed Abubakar Adamu, NPM, who retired after 35 years of meritorious service to the nation.

What the FG is saying

“The handing/taking over of leadership between the former and new Police Chiefs was held in a brief but colourful ceremony at the Force Headquarters, Abuja. The event was climaxed with the symbolic handover of the Nigeria Police flag.

The new IGP, who is the 21st indigenous Inspector General of Police, Ag. IGP Usman Alkali Baba, NPM, psc (+), fdc, a fellow of the National Defence College, hails from Geidam in Yobe State. He was commissioned into the Nigeria Police Force on 15th March 1988 as a Cadet Assistant Superintendent of Police.

He holds a Masters degree in Public Administration (MPA) and a Bachelor of Arts degree in Political Science.

The FG also disclosed that the new IGP believes in the provision of motivational and credible leadership driven by professionalism and strategic planning, all directed at stabilizing internal security and modernizing police operations within the framework of citizens’ consent, trust, and the rule of law.

In case you missed it 

The Federal Government revealed why President Buhari terminated the appointment of the outgoing Inspector General of Police (IGP), Muhammad Adamu, before the expiration of the 3-months extension, saying the ex-IGP’s tenure was terminated following the completion of the selection process for a new Inspector General of Police.

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Appointments

FSDH appoints FCMB Director, Bukola Smith as new Managing Director and CEO

FCMB appoints FCMB Executive Director, as new Managing Director and CEO, to replace Hamda Ambah.

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Bukola Smith, the Executive Director, Business Development, in First City Monument Bank Limited has been appointed by FSDH Merchant Bank as the new Managing Director and Chief Executive Officer of the Lagos based financial institution.

This information was revealed in a recent post made by Smith, the new MD/CEO of the bank via her official LinkedIn account.

Her appointment will take full effect in mid-April, 2021, as she moves to take over from Hamda Ambah who will retire from the bank with effect from April 27th, 2021, after 28 years of service to the company, including four years and three months as the Managing Director of the Merchant Bank.

Smith is expected to take on the full responsibility of leading FSDH Merchant Bank to greater heights of global success, building on the impressive work Ambah has done in the last four years and three months as the Managing Director of the Merchant Bank.

What they are saying

Commenting on her appointment, Bukola Smith said:

“Super excited to announce my appointment as the new MD/CEO of FSDH Merchant Bank from mid-April, 2021. Thus, bringing an end to 14 beautiful and impactful years at FCMB.”

Special thanks go to all my friends and colleagues, who made my time at FCMB an amazing experience.

It is a privilege to take over from a Super Mentor, Hamda Ambah who has done a great job in steering the ship over the years.”

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About Smith

Bukola Smith holds a Bachelor’s Degree in Economics from the University of Lagos, and also holds an MBA from Manchester Business School, University of Manchester, United Kingdom.

Smith was appointed Executive Director, Business Development at First City Monument Bank (FCMB) in 2017, and prior to this, she was the Regional Head, Lagos Region of the Bank.

She has occupied several key positions in FCMB as the Group Head Treasury and Financial Institutions; Divisional Head, Investment Banking and Financial Markets; Director Project and Structured Finance; and Divisional Head, Group Internal Audit, since she joined the bank in 2006.

As the Executive Director in charge of Business Development in FCMB, the bank’s Small and Micro business-focused team moved up to the first position in 2019, to emerge as the best SME supporter in the country – according to a KPMG Customer Service Report 2020.

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