Jobs/Appointments
Buhari Okays Masanawa as MD of NSPMC
By Modupe Gbadeyanka
The appointment of Mr Abbas Umar Masanawa as the Managing Director of Nigeria Security Printing and Minting Company (NSPMC) has been approved by President Muhammadu Buhari.
This followed the recommendation by the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, in a memo dated August 28, 1018 to the President.
In the memo, Mr Emefiele confirmed that the tenure of the current Managing Director, Mr Joseph Ugboh, and Executive Director (Finance), Abbas Masanawa, had ended in August 2018, having taken over as executive management members of the company in 2014, turning around the firm from a loss making organisation to a profit making entity.
“Upon the takeover, the company returned to profitability with profit before taxes of N611 million, N4.6 billionn and N12.1 billion during financial years ended 2015, 2016 and 2017 respectively,’’ the CBN chief said in his memo.
He informed the President that based on that, it would be necessary to make someone from the team, Mr Masanawa, the new head of NSPMC.
Mr Emefiele also recommended the appointments of Mr Abubakar Sule Minjibir, Mr Chris Orewa and Mr Tunji Kazeem as Executive Directors of the company, which were also approved by President Buhari.
Mr Masanawa, a graduate of Ahmadu Bello University, Zaria, obtained his postgraduate degree in Business Administration from University of Maiduguri in 2000.
He worked briefly with FSB Bank before joining Zenith Bank where he worked for about 17 years.
He rose to the position of Deputy General Manager before his appointment in 2014 as the Special Assistant and Chief Liaison to the Governor of CBN in September 2014.
Mr Masanawa has undergone various courses on Leadership, Organisational Management, Strategic Thinking and Finance in Harvard Business School, USA; London Business School UK, SAID Business School Oxford, among others.
Mr Tunji Kazeem holds a B. A. Economics and Accounting from Rutgers University, New Jersey, USA and Masters Business Administration with specialisation in Investment Management from Columbia Business School, New York.
He has a deep knowledge of revenue model and balance sheet of financial institutions and inherent risks from his varied experience that spanned over two decades and had worked as a Senior Risk Manager with LMC Group, New York.
Mr Chris Orewa holds a Bachelor’s Degree in Engineering and a Masters in Business Administration and had worked as an industrial engineer in England as well as a Quality Assurance for Ford Motor in Canada and Auditor, Unilever Canada.
He has over 30 years’ experience at managerial level and his career cuts across many disciplines of quality assurance, production and engineering.
Minjibir obtained a B. SC. Degree in Chemistry from Bayero University, Kano, and acquired postgraduate degrees in Business Administration with emphasis on Financial Management.
He is a Harvard trained General Management Executive and a fellow of Institute of Management Consultant.
The Nigeria security printing and minting company is wholly owned subsidiary of the CBN with sole responsibility to produce Nigeria’s currency and a range of other important security documents.
Jobs/Appointments
Tinubu Appoints Ogunjumi Acting Accountant General as Madein Retires
By Adedapo Adesanya
President Bola Tinubu has appointed Mr Shamseldeen Babatunde Ogunjimi as the Acting Accountant General of the Federation (AGF).
This was contained in a statement on Tuesday by presidential spokesman, Mr Bayo Onanuga.
“His appointment is effective immediately following the pre-retirement leave of the incumbent AGF, Mrs Oluwatoyin Sakirat Madein,” a part of the statement read.
“In announcing Madein’s successor, President Tinubu ensures a seamless transition in the administration of Nigeria’s treasury and consolidates the implementation of the present administration’s treasury policy reforms,” the statement added.
Mr Onanuga said Mr Ogunjimi brings over 30 years of extensive experience in financial management across the public and private sectors.
He described the appointee as a career civil servant and the most senior director in the Office of the Accountant General of the Federation (OAGF),
“He has held significant positions, including Director of Funds at the OAGF and Director of Finance and Accounts at the Ministry of Foreign Affairs.
“A chartered accountant, certified fraud examiner, chartered stockbroker, and chartered security and investment specialist, Mr Ogunjimi’s academic qualifications include a Bachelor of Science (BSc) in Accountancy and a Master’s in Finance and Accounting,” the statement added.
According to Mr Onanuga, President Tinubu expressed his confidence in his appointment, saying, “The Office of the Accountant General of the Federation is pivotal to our nation’s treasury management operations. Mr Ogunjimi’s wealth of experience and notable competence will ensure the continued effectiveness of this vital institution as we advance our economic reform agenda.”
President Tinubu also commended the outgoing Accountant General of the Federation, Mrs Madein, for her dedication and selfless service to the nation.
After reaching the civil service’s statutory retirement age, Mrs Madein is retiring effective March 7, 2025.
Jobs/Appointments
CBN Denies Forceful Mass Retirement Amid Restructuring
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirement as part of efforts by Governor Yemi Cardoso to restructure the workforce of the organisation.
In a statement released on Wednesday, the Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff.
According to the statement, the decision to implement the exercise was the outcome of extensive consultations with the bank’s Joint Consultative Council (JCC), a body representing staff interests.
Mrs Sidi Ali explained that the EEP, a longstanding policy previously accorded to the executive cadre, has now been made available to eligible staff at all levels.
“For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres. Following these discussions, management decided to meet this popular demand,” she said in the statement.
Addressing concerns about potential repercussions for staff who decline the package, Mrs Sidi Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.
She further emphasized that the initiative is an internal corporate matter designed to promote career development for staff.
According to wide spread reports, there have been plans to retire approximately 1,000 employees by the end of the year with a payoff estimated to cost over N50 billion.
The mass retirement, which was announced in a circular issued three weeks ago, mandates affected employees to apply for the Early Exit Package (EEP).
The statement allegedly warned employees with less than one year of service or unconfirmed appointments to refrain from applying for the program, noting that the application would remain open until December 7, with an effective exit date of December 31, 2024.
It was reported that the entire EEP was valued at N50 billion.
Jobs/Appointments
CBN Okays Appointment of Benson Ogundeji as Greenwich Merchant Bank CEO
By Modupe Gbadeyanka
The Central Bank of Nigeria (CBN) has approved the appointment of Mr Benson Ogundeji as the chief executive of Greenwich Merchant Bank Limited.
The board of the financial institution for businesses had picked Mr Ogundeji as its substantive CEO but awaited the authorisation of the banking sector regulator.
He brings over three decades of extensive banking experience to this role as a seasoned financial services professional, who previously served as Executive Director at Greenwich Merchant Bank from July 2020, where he played a pivotal role in the bank’s successful transition from the legacy Greenwich Trust Limited to a merchant bank.
In this capacity, he provided oversight for Corporate Banking, Treasury and Global Markets.
Throughout his career, Mr Ogundeji has demonstrated exceptional expertise in business development and operational excellence.
Before joining the firm, he held various senior leadership roles at prominent financial institutions, including Ecobank Nigeria, GTBank, and other notable banks, where he consistently displayed exceptional leadership skills.
His appointment comes at a crucial time as Greenwich Merchant Bank commences the next phase of its growth plans. Having related closely with the new CEO, as an Executive Director and acting CEO in the last four years, the board has expressed confidence about his ability to lead the bank in delivering our strategic goals.
“The board is pleased to announce the appointment of Benson Ogundeji as our Managing Director/Chief Executive Officer,” the chairman of Greenwich Merchant Bank, Mr Kayode Falowo, stated.
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