Appointments
Union Bank of Nigeria Plc announces the appointment of 2 directors
Two Non-Executive Directors have been appointed by Union Bank.
Union Bank of Nigeria Plc has announced the appointment Mr Emeka Anthony Ogbechie and Mr Paul Kokoricha as Non-Executive Directors, with effect from May 27, 2020, and August 28, 2020, respectively.
In the announcement, Emeka Anthony Ogbechie was appointed to replace Mr Dick Kramer, who retired from the Board of the Bank in September 2019 and Paul Kokoricha was appointed to replace Mr Cyril Odu, who passed on in September 2019.
This disclosure is contained in a notification which was sent by Union Bank to the Nigerian Stock Exchange (NSE), esteemed shareholders and other stakeholders and signed by the Company Secretary, Somuyiwa Sonubi.
Mr Ogbechie is a seasoned finance professional with experience in Strategy and Corporate Planning, Portfolio Management and Benchmarking, Financial Reporting, Analytics and Tax Planning, Treasury and Liquidity Management and Cost Optimization.
He is currently the Chief Finance Officer of Capital Alliance Nigeria; a position he has held since 2019. Before joining Capital Alliance Nigeria, Mr Ogbechie had held positions in several local and international organizations including Equity Bank Kenya Limited, UBA Capital Plc, Lagos, Credit Suisse London, Deloitte London, and Ernst & Young, London.
Mr Ogbechie holds a Bachelor of Arts degree in Business Administration from American Intercontinental University and a Master of Science degree in Management from the London School of Economics. He is also a member of the Institute of Chartered Accountants in England and Wales and holds an MBA (Strategy and Finance) from INSEAD.
On his part, Paul Kokoricha is a Partner at African Capital Alliance, a private equity investment management firm. He joined the African Capital Alliance in 2002 as the Chief Finance Officer before making a transition to Fund Manager role in 2004. He has extensive experience in private equity investment management as well as in business turnarounds, transformation and re-organization.
Before he joined African Capital Alliance, Mr Kokorocha worked with Liberty Bank Plc for 8 years as Group Head of Operations with responsibility for Operations and Information Technology across the bank.
He also worked with Arthur Andersen & Co, providing accounting, consulting, and audit services to varied clients in financial services, oil and gas, construction and manufacturing sectors.
Mr Kokoricha is a Director of several companies including Continental Reinsurance, Bankers Warehouse Limited, Fin Insurance and Swift Networks Limited. He is the Chairman of the Board of Private Equity and Venture Capital Association of Nigeria.
He holds a B. SC in Economic from the University of Nigeria, Nsukka and is a Fellow of the Institute of Chartered Accountants of Nigeria.
Appointments
MTN Nigeria announces the appointment of Karl Toriola as CEO designate
MTN Nigeria has announced the appointment of Karl Toriola as new CEO designate, to replace Ferdi Moolman.
The Management of MTN Nigeria Communications Plc has announced the appointment of Mr Karl Toriola as the CEO designate.
This information is contained in a note sent to the floor of the Nigerian Stock Exchange on 26th October 2020 and signed by MTN Nigeria Plc Secretary, Uto Ukpanah.
READ: Africa’s largest telecoms firm, MTN, to divest from its Middle East operations
The note partly reads:
“MTN Nigeria is pleased to inform The Nigerian Stock Exchange (The Exchange), the investing public and other stakeholders, of the appointment of Mr. Karl Toriola as the CEO designate. His appointment is effective 19 March 2021, providing enough time for an orderly handover.“
(READ MORE: MTN launches e-sim, a virtual sim card for more security and quality service)
Since joining the Group in 2006, Mr. Toriola has also held a number of senior operational roles including Chief Technical Officer of MTN Nigeria, CEO Of MTN Cameroon and MTN Group Operations Executive.
Mr. Toriola has at various times in his career in MTN Group, had oversight responsibility of 16 of the Group’s subsidiaries and served on various MTN boards, including MTN Nigeria.
(READ MORE: MTN Nigeria begins N100 billion commercial paper issuance today)
What they are saying
Speaking on the appointment, Dr Ernest Ndukwe OFR, Chairman of MTN Nigeria said, “After a thorough and rigorous selection process, we are delighted to welcome Karl back to MTN Nigeria. Karl Toriola is recognized throughout the industry as a highly experienced and well-regarded business leader.
“With his rich credentials, I am personally pleased that Mr. Karl Toriola is well-suited to lead MTN Nigeria’s Executive Management team through the next stages of growth in the years ahead.”
(READ MORE:MTN Nigeria, Zenith Bank post gains, as investors gain N54.42 billion)
What to expect
Mr. Karl Toriola’s appointment as CEO of MTN Communications Nigeria Plc is effective from 19 March 2021, providing enough time for an orderly handover by Mr. Ferdinand Moolman.
READ: NB Plc to raise additional N20 billion from its N100 billion Commercial Paper
The current CEO of MTN Nigeria, Mr. Ferdinand Moolman, will exit this role with effect from 19 March 2021 and assume a new role as MTN Group Chief Risk Officer. He will remain on the Board of MTN Nigeria in his new role as the MTN Group Chief Risk Officer.
Appointments
TCN MD, Sule Abdulaziz appointed Chairman of West Africa Power Pool
The acting Managing Director of TCN, Sule Abdulaziz, has been appointed the new Chairman of WAPP.
The acting Managing Director of Transmission Company of Nigeria (TCN), Sule Abdulaziz, has been appointed the new Chairman of the Executive Board of West African Power Pool (WAPP). Abdulaziz was nominated by the former Managing Director of Power Holding Company of Nigeria (PHCN), Joe Makoju, who is an honorary member of WAPP.
READ: NNPC signs gas development and commercialization deal with SEEPCO
This disclosure was made by TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah, through a public statement in Abuja on Thursday, October 22, 2020.
In her statement, Mbah revealed that the West African Power Pool was created by Decision A/DEC.5/12/99 of the 22nd Summit of the ECOWAS Authority of Heads of State and Government, and adopted during the 29th Summit of the ECOWAS Authority of Heads of State and Government held in Niamey, Niger.
READ: Indian firm, Ramco signs partnership deal with Nigerian airline
The appointment was made during the 46th meeting of the WAPP Executive Board which was chaired by the Secretary-General of ECOWAS, Ki Sengui, and held through video conference on October 21.
The statement from Mba partly reads, “While making the nomination, Makoju noted that Abdulaziz is an expert in engineering with vast experience in the electricity sector and therefore will perform creditably as the new WAPP Executive Board Chairman.
READ: Continental Reinsurance Plc acquires 100% ownership of its Botswana subsidiary
“His proposal was endorsed by MDs and Director Generals and other members of the board,” she said.
According to the statement, Abdulaziz in his acceptance speech thanked the board members and the honourary members for his nomination as the Chairman of the board and assured them of his total commitment to the overall objective of the regional electricity body.
READ: A bitter family feud has continued to hamper this company’s growth
He also expressed the need to move the pool to the next level of operational efficiency and solicited the support of member utilities, especially members of the executive board in this regard.
Explore Data on the Nairametrics Research Website
He urged members to ensure prompt payment of their contributions to the pool and also continue to collaborate actively with the secretariat to ensure effective and efficient coordination and implementation of all WAPP programmes.
Appointments
First Bank CEO appointed into Bretton Woods Committee
First Bank CEO has been honoured with membership of Bretton Woods Committee (BWC).
Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, has joined the Bretton Woods Committee (BWC) as a member.
This is a sequel to his invitation to the committee as reported by The Vanguard.
READ: COVID-19: FirstBank’s FirstMonie leads the pace in Agent Banking
The BWC membership is strictly by invitation and extended to top influencers from every region of the world. Therefore, Dr. Adeduntan’s invitation is in recognition of his remarkable leadership traits and the impact of his organization in driving financial inclusion in Africa.
READ: Union Bank seals $40 million partnership with IFC
What they are saying
Commenting on his invitation and acceptance, Dr Adeduntan said, “On behalf of the Board, Management, and Staff of FirstBank, I’m deeply honoured to be recognised as a member of The Bretton Woods Committee.
READ: First Bank rewards its Verve card holders with free fuel
“In addition, as a contributor, FirstBank remains committed to the goals of the Bretton Woods Committee. Especially at this time when the role played by business and political leaders is critical to exploring efficient ways of deepening collaboration and inclusion across borders, whilst mitigating the adverse effects of the coronavirus on not just the global economy but on other aspects of the livelihood of every individual and household.
Speaking further he said, “I look forward to working with other members of The Bretton Woods Committee, as we continue to build on the successes achieved over the years. With these, we will make the world a better place.”
READ: Here are the ten highest paid athletes of the decade; one earned $915 million
What you should know
The Bretton Woods Committee was established in 1983 with a goal of creating more awareness for the World Bank, International Monetary Fund, World Trade Organization, and other major development banks. Also, they work towards accelerating economic growth, lessen poverty, and increase financial stability, along with demonstrating the importance of international economic cooperation and fostering collaboration among institutions.
READ: CBN to sanction exporters who default on export proceed number
The Committee’s greatest asset is its global membership, with more than 650 members including leaders in business, finance, academia, foreign government, and non-profit organizations from around the world.
READ: 150 million to fall into extreme poverty by 2021 – World Bank
Nigeria to fix irregular power supply in 40 years- Senate
Just-in: President Buhari reappoints Yakubu as INEC Chairman for second term
GTBank, Cadbury, keep Nigerian Stocks fired up, Investors gain N105.76 Billion
#EndSARS protest: Hoodlums loot 110 tractors in Yola
#EndSARS: ECOWAS calls for protesters to remain peaceful in their demonstrations
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦461/$1
ASUU discloses why it is yet to call off nationwide strike
Guinness Nigeria Plc jostles to improve from its insipid 2020 financial year
CACOVID reacts to looting of food items, explains why distribution of palliatives was delayed
