Appointments
McNichols Consolidated Plc appoints Temitope Abefe Adebayo as CFO
Temitope Abefe Adebayo has been announced as the new CFO of McNichols Consolidated Plc.
McNichols Consolidated Plc has announced the appointment of Mr. Temitope Abefe Adebayo as the new CFO of the company with immediate effect.
The appointment was confirmed in a letter by the company dated 12th October 2020, and available on the NSE website – corporate disclosure. The letter was signed by Mrs. Benedicta Sadare, S.E. Nomuoja & Co. Secretaries, on behalf of McNichols Consolidated Plc.
The announcement noted that Mr. Temitope Adebayo is an associate member of the Institute of Chartered Accountants of Nigeria (ICAN), with about a decade of experience as an accountant. The announcement further submitted that the new CFO has served as an accountant in various companies and industries – including manufacturing, supply, hospitality, external audit, and tax consulting.
What you need to know
McNichols Plc is an indigenous home-grown fast-moving consumer brand food and beverage company. The company is “committed to enhancing the quality of life and contributing to a healthier future of Nigerians from ideas to reality.” The company was incorporated on April 26th, 2004, and commenced operations as a food processing and packaging company in April 2005. It is currently engaged in the production of various food and beverage products that include cube and icing sugar, choco, vanilla, milk, and choco custard.
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The company’s shares were listed on the NSE on 18th December 2009. The current share price is N0.47. The shares’ highest price in 52 weeks was N0.50 and the lowest N0.42. A total volume of 455, 455 units were sold in the last seven day’s trades. The shares outstanding are 326.70 million units.
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.
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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.“
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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.
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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.
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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.
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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.
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“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.
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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.
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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.
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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.
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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.
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“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.”
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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.
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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
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