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Finverity Picks Symmie Swil as Head of Operations

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Symmie Swil, Head of Operations_Finverity

By Aduragbemi Omiyale

A leader in the trade and supply chain finance digital ecosystem, Finverity, has appointed a former Investec and Starling Bank executive, Ms Symmie Swil, as its Head of Operations, coming a few weeks after the company raised $5 million.

Ms Swil is expected to use her diverse strategy and operational leadership experience gained in both senior fintech and investment banking roles in Finverity.

She will focus on building scalable and efficient operations as the business and its clients’ needs grow, supporting the growth of the funding platform for mid-market corporates, the SaaS offering and the wider business operations.

The firm said Ms Swil’s vast insights and experience of growth opportunities and operational challenges will prove invaluable it scales up its number of corporate and banking clients as well as partnerships.

“I’ve seen the power of technology in transforming legacy banking and revolutionising access to finance,” the new Head of Operations said, adding that, “We take for granted the trade finance that underpins almost everything around us – from avocados on toast to the latest iPhone – but it is still largely governed by paper and inaccessible to most mid-market enterprises.”

“Digitalisation is fast replacing manual, time-consuming, operational processes that are prone to human error, whilst also bringing the benefits of reduced friction that accelerates the allocation of funding.

“However, technology has barely scratched the surface so far. Closing the trade finance gap is arguably the biggest opportunity in fintech right now, and so I’m delighted to be joining Finverity as we continue to make trade finance better, fairer and more accessible for more businesses,” she added.

Also commenting, the chief operating officer and co-founder of Finverity, Alex Fenechiu, welcomed Ms Swil to the company, noting that, “With her track record and contagious, positive energy, she is the perfect fit to lead our operations as we continue to grow our international client base and expand our suite of services.”

The chief executive and co-founder of the organisation, Viacheslav Oganezov, said, “We are very excited to bring Symmie onboard. She is fully behind our mission of helping close the global trade finance gap, and her experience of building out scalable operational processes is paramount to our growth phase.”

While at Starling Bank, a digital bank in the UK, as the Head of SME Banking, Ms Swil played a pivotal role in building the business banking department and tripling the number of business accounts to over 430,000.

Prior to Starling, she spent over 10 years at Investec, where she was Head of Strategy Development and then Deputy COO for Investec’s UK Corporate and Investment business. At Investec, her remits included digital transformation and operational delivery.

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Court Sanctions CHI Limited for Wrongful Employment Termination

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chi limited

By Modupe Gbadeyanka

The termination of the employment of one Mr Bodunrin Akinsuroju by CHI Limited has been declared as unlawful by the National Industrial Court of Nigeria.

Delivering judgment on the matter, Justice Sanda Yelwa of the Lagos Judicial Division of the court held that the sacking of Mr Akinsuroju did not comply strictly with the provisions of the contract of employment and the Employee Handbook.

Consequently, the company was directed to pay him the sum of N2 million as general damages for wrongful termination and N200,000 as costs of action, while Mr Akinsuroju was ordered to return the company’s properties in his possession or pay their assessed market value.

Justice Yelwa found that the contract agreement between both parties clearly required either party to give 30 days’ notice or payment in lieu of notice after confirmation of appointment, and there was no evidence that the employee was given the required notice or paid salary in lieu of notice.

The judge held that failure to comply with this fundamental term amounted to a breach of the contract of employment, thereby rendering the termination wrongful.

Mr Akinsuroju had claimed that the allegation of misconduct against him was unfounded and not established, maintaining that the disciplinary committee proceedings were prejudicial and that the termination of his employment was without justifiable cause and without compliance with the agreed terms of his employment.

In defence, CHI Limited contended that it had the right to terminate the employment of Mr Akinsuroju and that the termination was lawful and in accordance with the contract of employment and the Code of Conduct.

In opposition, counsel to Mr Akinsuroju submitted that the alleged breaches were not proved and that the termination letter took immediate effect without the requisite 30 days’ notice or payment in lieu of notice as stipulated in the letter of appointment and the Employee Handbook, urging the court to hold that the termination was wrongful and to grant the reliefs sought.

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Tinubu Appoints Tunji Disu as Acting Inspector General of Police

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Tunji Disu

By Modupe Gbadeyanka

President Bola Tinubu on Tuesday appointed Mr Tunji Disu as the acting Inspector General of Police (IGP), following the resignation of Mr Kayode Egbetokun.

Mr Disu, an Assistant Inspector General of Police (AIG), was recently moved to the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos.

A statement today by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the President would convene a meeting of the Nigeria Police Council shortly to formally consider the appointment of Mr Disu as substantive IGP, after which his name will be transmitted to the Senate for confirmation.

Mr Tinubu expressed confidence that Mr Disu’s experience, operational depth, and demonstrated leadership capacity would provide steady and focused direction for the Nigeria Police Force during this critical period.

He reiterated his administration’s unwavering commitment to enhancing national security, strengthening institutional capacity, and ensuring that the Nigeria Police Force remains professional, accountable, and fully equipped to discharge its constitutional responsibilities.

Mr Egbetokun was said to have resigned from the position due to pressing family considerations.

President Tinubu, who accepted the resignation letter, expressed his profound appreciation for Mr Egbetokun’s decades of distinguished service to the Nigeria Police Force and the nation. He acknowledged his dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure.

Appointed in June 2023, Mr Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act.

The statement disclosed that his replacement was in view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance.

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Tunji Disu to Become New IGP as Egbetokun Quits

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By Adedapo Adesanya

Mr Tunji Disu, an Assistant Inspector General of Police (AIG), has reportedly replaced Mr Kayode Egbetokun as the new Inspector General of Police (IGP).

Mr Egbetokun resigned from the position on Tuesday after he was said to have held a meeting with President Bola Tinubu on Monday night at the Presidential Villa in Abuja.

President Tinubu appointed Mr Egebtokun as the 22nd IGP on June 19, 2023, with his appointment confirmed by the Nigeria Police Council on October 31, 2023.

Appointed as IGP at the age of 58, Mr Egbetokun was due for retirement on September 4, 2024, upon reaching the mandatory age of 60, but his tenure was extended by the President, creating controversies, which trailed him until his exit from the force today.

Although the police authorities are yet to comment on the matter or issue an official statement about his resignation, the move came amid reports suggesting that Mr Egbetokun has left the position.

Mr Egbetokun’s tenure was marred by a series of controversies; he recently initiated multiple charges against activist Mr Omoyele Sowore and his publication, SaharaReporters, after Mr Sowore publicly described him as an “illegal IGP.”

The dispute escalated into protracted legal battles, with the Federal High Court issuing injunctions restricting further publications relating to the former police chief and members of his family. Critics interpreted these court actions as attempts to stifle dissent and weaken press freedom.

His replacement, Mr Disu, was posted to oversee the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, some days ago.

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