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Kristalina Georgieva to Lead IMF for Second Five-year Term

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Kristalina Georgieva

By Adedapo Adesanya 

The Executive Board of the International Monetary Fund (IMF) has selected Ms Kristalina Georgieva to serve as the organisation’s Managing Director for a second five-year term starting on October 1, 2024.

According to a statement issued by the IMF Press Centre on Saturday, the board’s decision was taken by consensus, adding that it was in line with the selection process established on March 13, 2024.

The board held several discussions, including with Ms Georgieva, the sole candidate nominated for the position, before making its decision.

It said in a follow-up of the meeting held, the Coordinators of the Executive Board, Mr Afonso Bevilaqua, and Mr Abdullah BinZarah, noted that, “In taking this decision, the board commended Ms Georgieva’s strong and agile leadership during her term, navigating a series of major global shocks.

“Ms Georgieva led the IMF’s unprecedented response to these shocks, including the approval of more than 360 billion dollars in new financing since the start of the pandemic for 97 countries.

“Also, debt service relief to the fund’s poorest, most vulnerable members, and a historic Special Drawing Rights (SDR) allocation equivalent to $650 billion.”

The coordinators said under her leadership, the Bretton Wood institution introduced innovative new financing facilities, including the Resilience and Sustainability Facility and the Food Shock Window.

“It replenished the Poverty Reduction and Growth Trust, with the capacity to mobilise concessional loans to its poorest members, and co-created the Global Sovereign Debt Roundtable.

“It also secured a 50 per cent quota increase to bolster the fund’s permanent resources and agreed to add a third Sub-Saharan African chair to the IMF Board.

“Looking ahead, the board welcomes Ms Georgieva’s ongoing emphasis on issues of macroeconomic and financial stability, while also ensuring that the fund continues to adapt and evolve to meet the needs of its entire membership.

‘It recognises her focus on strengthening the fund’s support to its members through effective policy advice, capacity development, and financing.

“The board looks forward to continuing to work closely with the Managing Director.”

In her response, Ms Georgiana expressed her deep gratitude for the trust and support of the fund’s executive board, representing the fund’s 190 members, adding that she was honoured to continue to lead the IMF as Managing Director for a second five-year term.

“In recent years, the IMF has helped our member countries to navigate successive shocks, including the pandemic, war and conflicts, and a cost-of-living crisis.

“We also stepped up our work on climate change, fragility, and conflict, and the digital transition, in line with their increased significance for macroeconomic and financial stability, growth and employment”.

Ms Georgieva said the IMF’s financial support, policy advice, and capacity development work delivered by its exceptional staff had contributed to countries’ capacity to deal with high uncertainty and abrupt shifts in economic conditions.

“We are and will remain a transmission line of good policies for our members.

“We will also continue to strive to be a more effective, incisive, and welcoming place for countries to come together to tackle global challenges.

“I look forward to continuing serving our membership, together with the highly professional and committed staff of the IMF,” she said.

Ms Georgieva, a national of Bulgaria, has been the IMF’s Managing Director since 2019. Previously she served as Chief Executive Officer of the World Bank from January 2017.

From February 1, 2019, to April 8, 2019, she was the World Bank Group Interim President. She previously served at the European Commission as Commissioner for International Cooperation, Humanitarian Aid, and Crisis Response, and as Vice-President for Budget and Human Resources.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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NIMASA Gets New Maritime Guard Commander

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Maritime Guard Commander

By Modupe Gbadeyanka

A new Commander of the Maritime Guard Command has been appointed for the Nigerian Maritime Administration and Safety Agency (NIMASA), and he is Commodore Reginald Odeodi Adoki.

His appointment was approved by the Chief of the Naval Staff, Vice Admiral Idi Abbas, a statement from NIMASA confirmed.

He was chosen to replace Commodore H.C Oriekeze, who has been redeployed by naval authorities.

Commodore Adoki, a principal Warfare Officer specialising in communication and intelligence, brings 25 years of experience in the Nigerian Navy covering training, staff and operations.

As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada. It was under his command that NNS Kada undertook her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.

He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics. He has since earned a Master’s in International Law and Diplomacy from the University of Lagos and an MSc in Terrorism, Security and Policing atthe  University of Leicester, England.

He is currently pursuing a PhD in Defence and Security Studies at the National Defence Academy (NDA). He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the agency, the Director General of NIMASA, Mr Dayo Mobereola, expressed confidence in Mr Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA in strengthening operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

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Japaul Picks Henry Alakhume as Acting GMD

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Japaul

By Aduragbemi Omiyale

Mr Henry Alakhume has been appointed as the group managing director of Japaul Gold and Ventures Plc, a statement issued on Thursday disclosed.

In the notice signed by the company secretary, Chidimma Okolo, it was stated that the appointment of Mr Alakhume is effective today, February 12, 2026.

He is to fill the vacant position left by Mr Akinloye Daniel Oladapo, who resigned with effect from October 13, 2025, with no reason given for his decision to exit the post.

In the disclosure, it was said that Mr Alakhume would remain in office until a substantive GMD is announced by the organisation.

However, the board expressed confidence in the ability of the acting GMD to steer the ship of the company “during this transition period.”

He was described as an experienced executive director of the firm, who will “ensure continuity in leadership and support the company’s strategic objectives.”

“The board of Japaul Gold and Ventures Plc wishes to inform the Nigerian Exchange (NGX) Limited, its esteemed shareholders, and the general public of the appointment of Mr Henry Alakhume as the acting group managing director of the company.

“Mr Alakhume’s appointment takes effect from February 12, 2026, and he will serve in this capacity pending the appointment of a substantive group managing director.

“Mr Alakhume is an experienced executive of the company and has demonstrated strong leadership and operational expertise in his role as Chief Operating Officer.

“The board is confident that his appointment will ensure continuity in leadership and support the company’s strategic objectives during this transition period,” the statement said.

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VFD Group Appoints Martins Akpore to Oversee Finance, Risk Management

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VFD-Group

By Adedapo Adesanya

Nigerian proprietary investment company, VFD Group Plc, has announced the appointment of Mr Martins Akpore as Group Head for Centralised Critical Functions (CCF).

In a statement issued on Wednesday, the company disclosed that Mr Akpore would oversee the group’s centralised functions, including Finance, Audit, Risk Management, Credit and Treasury, with immediate effect.

The appointment is expected to bolster VFD Group’s financial governance and strengthen coordination across its subsidiaries as the company advances its expansion and operational efficiency drive.

“We are pleased to announce the appointment of Martins Akpore as Group Head, Centralised Critical Functions at VFD Group Plc. In this expanded strategic role, Martins will lead and oversee the Group’s centralised functions spanning Finance, Audit, Risk Management, Credit, and Treasury, effective immediately.

“Martins brings to this role a strong professional foundation and deep expertise across core financial disciplines, underpinned by his credentials as a Chartered Accountant, Chartered Tax Professional, and Certified Treasury specialist, as well as globally recognised certifications in financial modelling and valuation. He currently serves as Group Head, Treasury, where he has played a key role in strengthening the Group’s financial and capital management capabilities across the ecosystem,” it said.

“In his new capacity, Martins will be responsible for driving cohesive strategy, governance, and execution across the Centralised Critical Functions, ensuring robust risk oversight, disciplined financial operations, and alignment with the Group’s strategic priorities. He will work closely with subsidiary leadership teams to enhance institutional standards, strengthen accountability, and support cross-ecosystem decision making on critical matters,” it added.

Speaking on the appointment, the Group Managing Director, Mr Nonso Okpala, emphasised the importance of collaboration and execution discipline in delivering the firm’s Vision 2026 ambitions. In line with this, Managing Directors and senior leaders across all subsidiaries are encouraged to partner closely with Mr Akpore to ensure alignment, responsiveness, and shared ownership in achieving the organisation’s objectives.

Formerly trading on the NASD Over-the-Counter (OTC) Securities Exchange, VFD Group made an exit in October 2023 and listed on the Nigerian Exchange (NGX) Limited to strengthen its market position, boost visibility, and create more avenues to source cheap funds for expansion and growth.

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