The Board of Directors of Ikeja Hotels Plc has announced the appointment of Mr Theophilus Eniola Netufo as the Acting Managing Director and Chief Executive Officer of the company. This followed the approval by the Securities and Exchange Commission (SEC) with effect from March 23, 2020.
The appointment was announced in a notification which was sent by the company to the Nigerian Stock Exchange (NSE) on March 26, 2020, and signed by Chisom Umeofia on behalf of Punuka Nominees Ltd, who act as the Company Secretary.
Theophilus Eniola Netufo is a chartered accountant with over three decades of experience in accounting, auditing, taxation and general management services in Nigeria.
He started his career as an audit trainee and audit senior with S.S. Akemikhe and Co (Chartered Accountants). He was a financial accountant and later account manager with S.C. Johnson Wax Nigeria Ltd. He was also the financial analysis manager at Coca-Cola Nigeria Limited (Africa Division Officer).
He has worked as the Chief Finance Officer of Ikeja Hotel Group and more recently as the Chief Operating Officer of Ikeja Hotel Plc.
He is a fellow of the Institute of Chartered Accountant of Nigeria (ICAN), a fellow of the Chartered Institute of Taxation, a fellow of the Nigerian Institute of Management, fellow International Institute of Certified Forensic Accountants and also an active member of the Institute of Directors (IOD).
It could be recalled that in May 2017, the Securities and Exchange Commission (SEC) dissolved the board of Ikeja Hotels Plc, ordered a forensic investigation into the affairs of the company and appointed Chief Anthony Idigbe (SAN) as the interim chairman.
The apex capital market regulator sacked the board due to unresolved internal crisis involving some majority shareholders of Ikeja Hotels Plc, in apparent reference to the squabbles within the Ibru family, which holds the largest shareholdings in the company.
This was after the NSE had suspended trading on the shares of the company in November 2016 due to the high-stake dispute in the Ibru family. This was done in order to safeguard the investments of shareholders of Ikeja Hotel Plc following the continued dispute between the major shareholders which has negatively impacted on the company’s governance structure”.
Ikeja Hotels, incorporated in 1972 and quoted on the NSE in 2007, controls a chain of hotels directly and through other subsidiaries and affiliates, including Tourist Company of Nigeria (TCN) Plc and Capital Hotel Plc., Ikeja Hotel, Sheraton Hotel, Ikeja, Lagos. TCN owns Federal Palace Hotel while Capital Hotel owns Abuja Sheraton Hotel. The Ibru family owns the single largest individual shareholding.
Abbey Mortgage Bank announces appointment of 6 Directors
The Central Bank of Nigeria has approved the appointment of 6 Directors of Abbey Mortgage Bank.
Abbey Mortgage Bank has announced the appointment of 6 Directors, including Mr. Madu Hamman as the substantive Managing Director.
The disclosure is contained in a notification, signed by the Bank’s Secretary, Geoff Amaghereon Esq. and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.
What you should know
Five (5) other Directors were appointed by the CBN – 2 Executive and 3 Non-Executive Directors.
The names and portfolios of the Directors are; Mr. Mobolaji Adewumi – Executive Director; Mr. Oladipupo Ayodele Adeoye – Executive Director; Mr. Nonso Okpala – Non-Executive Director; Professor Marius N. Umego – Non-Executive Director; and Brigadier-General John Obasa (rtd) – Non-Executive Director.
The notice also mentioned that all appointments have been approved by the Central Bank of Nigeria.
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.
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.
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”.
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.
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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9PSB Board appoints Branka Mracajac as CEO
9 Payment Service Bank has announced the appointment of Branka Mracajac as CEO designate.
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.
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.
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.