Following her appointment as Director-General of the Jigawa State Investment Promotion Agency, Mrs. Furera Isma Jumare has resigned her role as Independent Non-Executive Director on the Board of Union Bank of Nigeria Plc. This in line with regulatory guidelines precluding certain categories of public servants from serving on boards of banks and other financial institutions.

Commenting on the Mrs. Jumare’s resignation, Board Chair, Mrs. Beatrice Hamza-Bassey, said:

“Since joining the Board in May 2017, Furera has been an invaluable voice in the Boardroom. Her experience and professional counsel directly contributed to our wins in recent years and in helping us navigate challenging times. She also served studiously as the Chair of the Board Governance Committee and Member of the Board Audit and Risk Management Committees. On behalf of the Board, I thank her for her diligent service and wish her much success as she answers the call of service to her State.”

Chief Executive Officer, Mr. Emeka Emuwa, said:

“Furera’s appointment is a clear acknowledgement of her experience and accomplishments in her long career including in her role as Director with Union Bank. The Board and Management are grateful for her service and wish her the best in her new role.”

 Mrs. Jumare’s resignation is effective immediately.

Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country.

As the largest banking institution in Nigeria, it is not unlikely that we may be seen as a target in circumstances such as these. This is rather unfortunate as we believe far-reaching reform is necessary and we have said as much on a number of occasions across our platforms.

In the process of change, some pain will be borne by all and some anger may well be misdirected. We understand this as a part of the process of the struggle.

We have a large staff strength and an even larger customer base who may be affected by any disruption and this would be a pity as a number are also contributing in many ways to ensure that voices are heard and required action is taken.

We have been consistent in our message on the need to end all brutality and carry out necessary reforms. We will continue to lend our voice accordingly.

The Nigerian Stock Exchange (“NSE” or “The Exchange”) will host an Oil and Gas sector webinar on Tuesday, 20 October 2020.

With the theme, Perspectives of Operators and Industry Experts Post-COVID-19, the webinar will bring together key players across the entire oil and gas value chain to discuss the impact of the COVID-19 pandemic on the sector as well as its reactions to global trends, government policies, funding dynamics, key challenges and potential shifts. Interested participants can register to attend at  http://bit.ly/nse-oilandgas-webinar.

The event will be headlined by the Honourable Minister for State for Petroleum Resources, Chief Timipre Marlin Sylva; the Director-General, Securities and Exchange Commission (SEC), Dr. Lamido Yuguda; and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari. It will feature a stellar line-up of global speakers across the public and private sector who will analyse global trends and insights that will shape the future of the Nigerian oil & gas sector, provide recommendations for policymakers, and identify opportunities for long-term growth and expansion.

Speaking about the webinar, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON, noted that, “The impact of the COVID-19 pandemic continues to be felt across diverse industries globally and the oil and gas industry is no exception. Today, the COVID-19 crisis has accelerated what was already shaping up to be one of the industry’s most transformative moments, the impacts of which will likely be felt throughout oil’s global supply chains and ripple into other parts of the energy sector. Nonetheless, oil and gas will remain a multi-trillion-dollar market for decades given its role in supplying affordable energy. The question of how to create value in the new normal is therefore fundamental and one that we hope to discuss in this webinar. We envision that the insights gathered at the forum will lead to actionable solutions that can chart a more sustainable future for the oil and gas sector.”

Some of the other confirmed speakers for the event include  CEO, Seplat, Mr. Roger Brown; CEO, Niger Delta Exploration and Production, Dr. Layi Fatona; Chief Investment Officer, Global Energy, International Finance Corporation (IFC), Mr. Olivier Mussat;  Deputy Director, Securities and Investment Services, SEC, Mr. Abdulkadir Abbas; President Association of Issuing Houses of Nigeria/CEO Vetiva Capital Management, Mr. Chuka Eseka; Executive Chairman, Àrgentil Capital Partners, Mr. Adekunle Adedeji; CEO, Ardova Plc, Mr. Olumide Adeosun; CEO, Eterna Plc (Rtd), Mr. Mahmud Tukur; CEO, Axxela Group, Mr. Bolaji Osunsanya; Co-Founder/Partner, Verod Capital, Mr. Eric Idiahi; CEO, Stanbic IBTC Capital, Mr. Funso Akere; Head, Oil & Gas Coverage Renaissance Capital UK, Mr. Alex Burgansky; Oil and Gas Industry Expert, Ms. Rolake Akinkugbe Filani; and Partner and Energy Industry Leader for West Africa, PricewaterhouseCooper (PwC), Pedro Omontuemhen.