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Appointments

Agusto & Co appoints Yinka Adelekan as new CEO, as Vivien Shobo retires  

Agusto & Co has announced the appointment of Yinka Adelekan has its new Chief Executive Officer following the retirement of Vivien Shobo.

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The management of Agusto & Co has announced the appointment of Yinka Adelekan as its new Chief Executive Officer following the retirement of Vivien Shobo.

Agusto & Co, a credit rating agency, disclosed that Shobo’s retirement would be effective from 31 December 2019.

Vivien’s career at Agusto & Co has spanned over 20 years. She was responsible for leading the expansion initiatives that brought about obtaining Credit Rating Agency licenses from the Capital Market Authorities in Kenya and Rwanda while being a frequent speaker at domestic and Global African capital market conferences.

As part of her contribution to the development of the Nigerian financial market, Vivien has served on various committees including the Securities & Exchange Commission’s Financial Literacy Master Plan Committee, Fixed Income Sub-Committee, and the Capital Market Literacy / Investor Confidence Sub-Committee, where she was the chairperson. She is also the Chairperson of the SEC-registered Credit Rating Agencies Association.

Under the leadership of Viven Shobo, Agusto & Co has successfully rated most of Nigeria’s leading banks and pioneered domestic credit ratings for notable corporates such as Dangote Cement Plc, MTN Nigeria Communications Plc, Lafarge Africa Plc, Nigerian Breweries Plc, Guinness Nigeria Plc, Julius Berger, amongst others.

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However, Agusto & Co has reportedly appointed Yinka Adelekan, an Executive Director, in the company as its new Chief Executive Officer. With over 20 years in the finance industry, Yinka has acquired knowledge in credit ratings, corporate banking, risk management, product development, financial analysis, and information management.

[READ MORE: FBN Holdings appoints new Non-Executive Director)

Agusto & Co’s new Chief Executive Officer holds a BSc. in Banking & Finance from the University of Lagos, Nigeria; an MSc. in Information Management & Finance from the University of Westminster, UK and a Masters in Business Administration from the Manchester Business School (University of Manchester, UK). As reported by This Day, she is a Senior Associate Risk Managers Association of Nigeria (RIMAN) and has attended the leadership program of the Harvard Business School.

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Appointments

Funke Feyisitan-Ladimeji appointed Executive Director, Coronation Merchant Bank

Coronation Merchant Bank Limited has announced the appointment of Funke Feyisitan Ladimeji as an Executive Director of the Bank.

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Funke Feyisitan-Ladimeji appointed Executive Director, Coronation Merchant Bank

The Board of Directors of Nigeria’s leading financial institution; Coronation Merchant Bank Limited has announced the appointment of Funke Feyisitan Ladimeji as an Executive Director of the Bank with effect from November 18, 2020, consequent to the approval of the Central Bank of Nigeria.

Funke joins the Bank from FBNQuest Merchant Bank where she spent eight years as the Chief Operating Officer (COO).  Before now, she was the Executive Director/COO at JP Morgan. Funke has over 30 years’ experience managing a variety of Banking businesses across Markets and Corporate Finance Businesses, across multiple jurisdictions in EMEA (Europe, Middle East and Africa), North America and Asia, and across multiple functional areas, including Financial Control, Complex Product Accounting, Technology, Business Operations and Human Capital in major financial institutions within and outside Nigeria. She is a Fellow of the Institute of Chartered Accountants of England & Wales and holds a Master’s degree in Globalization and a Bachelor’s degree in Economics from Queen Mary and Brunel Universities respectively.

READ: Coronation Merchant Bank records 14% growth in earnings for 2019 FY

As the Executive Director, Funke’s remit will include Compliance, Information Technology, Centralized Operations, Customer Service, Global Trade and Administration functions.  She will also be the Bank’s Executive Compliance Officer.

Announcing the new appointment, the Chairman of Coronation Merchant Bank, Mr Babatunde Folawiyo stated that: “Funke brings to us a rich portfolio of experience garnered over the years in various leadership capacities. She could not have joined us at a more promising time in our journey to becoming an institution renowned for driving transformative solutions across Africa. I am confident her appointment will further strengthen and position the Bank for improved performance”.

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READ: FSDH Merchant Bank obtains license to operate as Customs Duty Collecting Bank

He further stated, “As a Bank, we maintain high corporate governance standards and ensure that Board appointments are in line with global best practices and industry standards. Her appointment follows a long tradition of working with the best and brightest across all levels of our organisation.

Coronation Merchant Bank was established in 2015 to provide wholesale banking to a long-underserved market. The Bank offers Corporate & Investment Banking, Private Banking/Wealth Management and, Global Markets/Treasury Services to its niche clientele. It presently has two branches located in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.

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READ: Restructuring: Plans must pass through legal process from the National Assembly – Tambuwal

The Bank has been the recipient of numerous international and national awards for product innovation and sound corporate governance practices. Some of the international awards it received in 2020 and 2019 include Best Investment Bank in Nigeria by Global Finance, Best Investment Bank in Nigeria by World Finance, Best Investment Bank in Nigeria by Global Banking & Finance Review, Best Investment Bank by Global Business Outlook and Best Investment Bank in Nigeria by International Finance.

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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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