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Appointments

Cornerstone Insurance Plc appoints Ogechi Adeola as Director

Dr Ogechi Adeola has been appointed as an Independent Non-Executive Director at Cornerstone Insurance Plc.

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Cornerstone Insurance Plc has appointed Dr Ogechi Adeola as its new Independent Non-Executive Director, subject to ratification by members at general meeting.

This is according to a notification sent to the Nigerian Stock Exchange platform, dated 24th of February, 2021, as seen by Nairametrics.

READ: United Capital earmarks total dividend of N4.2 billion for shareholders

Dr. Adeola’s profile

Dr. Adeola has over two decades of work and consulting experience in the Nigerian Financial services sectors. She is an Associate Professor of Marketing at the Lagos Business School and an alumna of the Manchester Business School, United Kingdom.

On the other hand, Cornerstone Insurance closed trading today (24th of February, 2021) at the floor of the Nigerian Stock Exchange with a share price of N0.59.

Results from the recently released FY 2020 financials posted by the firm showed that gross premium written increased from N13.06 billion in 2019 to N17.6 billion. However, profit for the period declined to N1.6 billion, from N4.11 billion recorded in 2019.

READ: CWG confirms Adeyipo’s appointment as MD

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What you should know:

Cornerstone Insurance Company Plc is a Nigerian-based insurance company offering services in the life and non-life categories.

It was incorporated on the 26th of July, 2021, initially as a private limited liability and subsequently became a public limited liability after its listing on the Nigerian Stock Exchange in 1997.

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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Appointments

Usman Alkali Baba assumes office as new IG of Police

The FG announced that IGP Usman Alkali Baba assumed duty as the new Inspector General of Police on Wednesday.

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The Federal Government announced that IGP Usman Alkali Baba assumed duty as the new Inspector General of Police on Wednesday.

The FG disclosed this in a statement on Wednesday evening, citing that he is taking over from IGP Mohammed Abubakar Adamu, NPM, who retired after 35 years of meritorious service to the nation.

What the FG is saying

“The handing/taking over of leadership between the former and new Police Chiefs was held in a brief but colourful ceremony at the Force Headquarters, Abuja. The event was climaxed with the symbolic handover of the Nigeria Police flag.

The new IGP, who is the 21st indigenous Inspector General of Police, Ag. IGP Usman Alkali Baba, NPM, psc (+), fdc, a fellow of the National Defence College, hails from Geidam in Yobe State. He was commissioned into the Nigeria Police Force on 15th March 1988 as a Cadet Assistant Superintendent of Police.

He holds a Masters degree in Public Administration (MPA) and a Bachelor of Arts degree in Political Science.

The FG also disclosed that the new IGP believes in the provision of motivational and credible leadership driven by professionalism and strategic planning, all directed at stabilizing internal security and modernizing police operations within the framework of citizens’ consent, trust, and the rule of law.

In case you missed it 

The Federal Government revealed why President Buhari terminated the appointment of the outgoing Inspector General of Police (IGP), Muhammad Adamu, before the expiration of the 3-months extension, saying the ex-IGP’s tenure was terminated following the completion of the selection process for a new Inspector General of Police.

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Appointments

FSDH appoints FCMB Director, Bukola Smith as new Managing Director and CEO

FCMB appoints FCMB Executive Director, as new Managing Director and CEO, to replace Hamda Ambah.

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Bukola Smith, the Executive Director, Business Development, in First City Monument Bank Limited has been appointed by FSDH Merchant Bank as the new Managing Director and Chief Executive Officer of the Lagos based financial institution.

This information was revealed in a recent post made by Smith, the new MD/CEO of the bank via her official LinkedIn account.

Her appointment will take full effect in mid-April, 2021, as she moves to take over from Hamda Ambah who will retire from the bank with effect from April 27th, 2021, after 28 years of service to the company, including four years and three months as the Managing Director of the Merchant Bank.

Smith is expected to take on the full responsibility of leading FSDH Merchant Bank to greater heights of global success, building on the impressive work Ambah has done in the last four years and three months as the Managing Director of the Merchant Bank.

What they are saying

Commenting on her appointment, Bukola Smith said:

“Super excited to announce my appointment as the new MD/CEO of FSDH Merchant Bank from mid-April, 2021. Thus, bringing an end to 14 beautiful and impactful years at FCMB.”

Special thanks go to all my friends and colleagues, who made my time at FCMB an amazing experience.

It is a privilege to take over from a Super Mentor, Hamda Ambah who has done a great job in steering the ship over the years.”

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About Smith

Bukola Smith holds a Bachelor’s Degree in Economics from the University of Lagos, and also holds an MBA from Manchester Business School, University of Manchester, United Kingdom.

Smith was appointed Executive Director, Business Development at First City Monument Bank (FCMB) in 2017, and prior to this, she was the Regional Head, Lagos Region of the Bank.

She has occupied several key positions in FCMB as the Group Head Treasury and Financial Institutions; Divisional Head, Investment Banking and Financial Markets; Director Project and Structured Finance; and Divisional Head, Group Internal Audit, since she joined the bank in 2006.

As the Executive Director in charge of Business Development in FCMB, the bank’s Small and Micro business-focused team moved up to the first position in 2019, to emerge as the best SME supporter in the country – according to a KPMG Customer Service Report 2020.

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