Connect with us
nairametrics
UBA ads

Appointments

Meet Dr. Lamido Yuguda, the new SEC DG

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a CFA charter holder, and also holds a Certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland.

Published

on

Lamido Yuguda

President Muhammadu Buhari, on Tuesday, brought an end to the 2-year long controversy surrounding the office of the Director-General of the Securities and Exchange Commission (SEC). He did this when he sent a letter to the Senate requesting the house to ratify the appointment of Dr Lamido Yuguda as Commission’s new DG.

Yuguda is an economist, banker and investment manager, with over 30 years’ experience in financial services. Let us take a closer look at Yuguda’s pedigree.

UBA ADS

He began his career with Central Bank of Nigeria back in 1984, just shortly after he graduated from the Ahmadu Bello University, Zaria. He was employed as a Senior Supervisor of the Foreign operations department, which manages Nigeria’s external debt records.

READ ALSO: Nigeria’s External Reserves plunge to $40.3 billion as devaluation concerns brew

In 1985, he moved to the Banking Supervision Department and had the task of handling bank licensing and prudential regulations.

GTBank 728 x 90

In 1988, another in-house reshuffling exercise took him to the Debt Conversion Committee Secretariat to manage the Nigerian Debt Conversion Programme together with the pioneer staff in the secretariat.

He moved back to the Foreign Operations Department in 1992, and soon after became the Senior Manager of the Investment Office. Again, his responsibilities included managing Nigeria’s external debt service, as well as managing the investment of the CBN’s external reserves in a liquid portfolio of cash, fixed-term deposits, and foreign government treasury bills.

READ ALSO: Nigeria spends $1.31 billion to service external debt in 2019

onebank728 x 90

Following a secondment, he joined the International Monetary Fund (IMF) in Washington DC, the USA in 1997, as an economist in the Africa Department. In this position, Yuguda assessed the economic policies and management of balance of payment support programmes in IMF member countries.

In 2001, he returned to the CBN to lead a team of staff to restructure and diversify the CBN’s growing FOREX reserve portfolio. Together with this team, a new investment policy was adopted with the introduction of new asset classes, the appointment of a reputable global custodian and asset managers.

Yuguda successfully upgraded the CBN’s in-house fixed-income trading and settlement capabilities and left a state-of-the-art portfolio management system as his legacy.

app
GTBank 728 x 90

By 2010, he became Director of the Reserve Management Department. He is credited with the strong risk-aware investment culture in the department, and also instilled a disciplined approach to investment evaluation.

READ MORE: UPDATE: Fitch downgrades Nigeria’s IDR to “B”, says CBN’s remedial policy not enough

After 32 years at the apex bank, he voluntarily retired in 2016. He has been a member of the Board of the Securities and Exchange Commission, and will now resume as its DG.

devland

Yuguda has a Bachelor of Science in Accounting from Ahmadu Bello University, Zaria, having graduated in 1983. He later obtained a Master’s degree in Money, Banking, and Finance from the University of Birmingham, UK, in 1991.

Get the Nairametrics App

app

He has attended leadership training at notable business schools like Harvard, INSEAD, IMD, Saïd, Wharton, Haas, and London.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a CFA charter holder, and also holds a Certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland.

Patricia

Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Appointments

Ecobank Transnational appoints Alain Nkontchou as new Chairman

“I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated.”

Published

on

Alain Nkontchou

Ecobank Transnational Incorporated (ETI) has announced the appointment of Alain Nkontchou as its new Chairman of the board of directors.

Nkontchou, who is Camerounian by nationality, has been serving as an Independent Non-Executive Director of the pan-African banking group since 2015. A statement made available to the Nigerian Stock Exchange (NSE) confirmed that his latest appointment took effect on June 30, 2020.

UBA ADS

The Camerounian is taking over from Nigeria’s Emmanuel Ikazoboh, whose six-year tenure as Chairman of Ecobank’s holding company ended last month, even as he just reached the retirement age of 70.  The company also noted that the new appointment is in tandem with its Articles of Association.

READ ALSO: Alphabet’s Loon launches solar-powered internet balloons in Kenya 

While reacting to his own appointment as Chairman, Alain Nkontchou said he is quite honoured and that he was looking forward to working with the rest of the board members.

GTBank 728 x 90

“I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated. Having served on its Board since 2015, I have seen Ecobank’s resilience and its proud history, built on strong foundation to secure the Bank’s future success. I look forward to working with the Board and Executive team as we continue our journey ahead and I know that we are well-placed to navigate through the current environment and set the standards in financial services for our customers across Africa. I would also like to express my thanks to my predecessor, Mr Emmanuel Ikazoboh, for his leadership of the Board and to wish him all the best for the future,” he said.

Alain Nkontchou co-founded Enko Capital Management LLP, a London-based asset management company with Johannesburg office. He currently serves as the Managing Partner and of the firm which specialises in prospecting investment opportunities in Africa.

READ ALSO: Cornerstone Insurance’s board will meet July 22nd to consider 2 important issues

onebank728 x 90

Prior to this time, ETI’s newly-appointed Chairman was a Non-Executive Director at Laurent Perrier champagne between 1999 and 2009. He was also the Managing Director of Credit Suisse’s Global Macro Trading from 1995 to 2008. He held a similar role at JP Morgan Chase & Co.

Meanwhile, from 1989 to 1994, Nkontchou worked with Chemical Bank first in Paris and then New York. At the bank, he rose through the ranks to become the Vice- President, Head of Trading, and Sales. Apparently, he is an accomplished business executive.

Alain Nkontchou obtained an MSc in Electrical Engineering from Supélec and P.M. Curie University, Paris, and another MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris).

app
GTBank 728 x 90

READ MORE: Seplat gives notice of board meeting, to consider Q2 financial result


It should be noted that ETI’s stock closed yesterday’s trading session on the Nigerian Stock Exchange with a share price of N4.80. The share price gained by +1.05% to appreciate from its previous close of N4.75. Year to date, ETI’s share price has declined by about 22%.

devland
Patricia
Continue Reading

Appointments

Seplat appoints Emeka Onwuka as CFO

Onwuka has over 30 years’ experience in financial services across Sub-Saharan Africa. 

Published

on

Seplat appoints Emeka Onwuka as CFO

Seplat Petroleum Development Company Plc. has appointed Mr. Emeka Onwuka as Chief Financial Officer and Executive Director, Lagos, and London.

The appointment takes effect from August 1, 2020.

UBA ADS

The appointment was announced in a notice sent to the Nigeria Stock Exchange on Friday and has been ratified by the company’s board of directors.

According to the notice which was signed by the company secretary and chief governance compliance officer, Mrs. Edith Onwuchekwa, the Board of Seplat is confident that “the wealth of knowledge and experience Onwuka brings will be a great addition to the Company”.

Mr. Onwuka has over 30 years’ experience in financial services across Sub-Saharan Africa. Mr Onwuka is a Partner at Andersen Tax Nigeria and holds various Board positions as Chairman; FMDQ Securities Exchange Limited; Director FMDQ Holdings Limited; Director, Ecobank Nigeria Limited; and Director, Bharti Airtel Nigeria.

GTBank 728 x 90

He was also the former Group Managing Director /CEO of Diamond Bank Plc and former Chairman of Enterprise Bank Limited.

READ MORE: This is what Ngozi Okonjo-Iweala is up against

He is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Nigeria, and a Fellow of Chartered Institute of Taxation of Nigeria.

onebank728 x 90

Mr. Onwuka received his B.SC. in Political Science from the University of Nigeria, Nsukka, and holds an MBA from the University of Benin.

Explore Economic Research Data From Nairametrics on Nairalytics

He is an alumnus of the Lagos Business School, Wharton Business School and Harvard Business School.

app
GTBank 728 x 90

Onwuka also holds the Nigerian National Honor, Officer of the Order of the Niger (OON).

 

devland
Patricia
Continue Reading

Appointments

Segun Agbaje elected into PepsiCo Board of directors

Mr. Agbaje will join the Board and the Audit Committee effective July 15, 2020.

Published

on

GTB releases FY result for 2019, grows PBT by 7.5%

Segun Agbaje, the Managing Director of Guaranty Trust Bank of Nigeria has been elected as an independent member of the Board of Directors of PepsiCo, the American owners of popular beverage, Pepsi and Moutain Dew.

According to the press release seen by Nairametrics, the Board of Directors elected Segun Agbaje as an independent member of the Board. Mr. Agbaje, 56, will join the Board and the Audit Committee effective July 15, 2020.

UBA ADS

In his remark, PepsiCo Chairman and CEO Ramon Laguarta expressed delight in welcoming Mr. Agbaje to the PepsiCo Board.

READ ALSO: BankTech War: Segun Agbaje says GTBank not afraid of Fintech

“Segun is a well-respected and proven business leader with a deep understanding of complex businesses and fast-growing markets, particularly Sub-Saharan Africa where we recently acquired Pioneer Foods as part of our strategy to expand in the region. His experience in business transformation and passion for delivering consumer value will serve PepsiCo well as we continue our journey to be the global leader in convenient foods and beverages by winning with purpose,” Laguarta said.

GTBank 728 x 90

PepsiCo recently acquired Pioneer Foods, makers of Butterfield Bread. Pioneer Foods also acquired a major stake in Food ConceptPioneer, a leading baked goods company. Food Concepts are also the owners of the popular Chicken Republic quick-service restaurant chain in Nigeria.

The Chair of PepsiCo’s Board’s Nominating and Corporate Governance Committee, Daniel Vasells remarked,

“We look forward to Segun joining the PepsiCo Board and to the valued global perspective he will add to our team..His knowledge and experience of embracing and scaling new technologies and critical capabilities will be valuable as we continue to invest in opportunities that create shareholder value and deliver long-term sustainable growth.”

onebank728 x 90

Segun Agbaje also currently serves as a director of MasterCard Advisory Board Middle East and Africa. He holds a Bachelor of Science in Accounting and a Masters in Business Administration from the University of San Francisco.

Patricia
Continue Reading
Advertisement
Wealth.ng
Advertisement
Advertisement
Patricia
Advertisement
Advertisement
devland
Advertisement
GTBank 728 x 90
Advertisement
devland
Advertisement
devland
Advertisement
Patricia
Advertisement
financial calculator
Advertisement
devland
Advertisement
app
Advertisement