Banking
Meyer Plc Appoints New Managing Director, Secretary
By Modupe Gbadeyanka
One of the leading paints manufacturers in Nigeria, Meyer Plc, has announced the appointment of Mr Bamidele Akinnola as its new Managing Director.
According to a statement issued by the company, Mr Akinnola was appointed for the position on October 1, 2016.
It was also disclosed that Mrs Ifetola Fadeyibi was appointed the Company Secretary on November 8, 2016, revealing further that both appointments were approved by the Board of Directors on November 8, 2016.
According to the statement, Mr Akinnola started his career in 1995 with Cadbury Nigeria Plc, where he spent about 15 years.
His career in the multinational company offered him unique opportunities to acquire relevant experiences in General Business Management, Strategy Development & Execution, Manufacturing, Quality, Health, Safety & Risks, Supply Chain Management, Project Management, Sales Operations and People Management.
In 2007, he was appointed Manufacturing Manager in charge of the Confectionery Business unit and had a short stint as a consultant between October 2010 and December 2011 with Jetstar Consulting Ltd, Lagos a consulting firm providing Technical consulting services to a broad spectrum of clients across FMCG, Processing, Printing and Packaging businesses.
In February 2012, Mr Akinnola joined UAC Foods Limited as General Manager, Operations and in July 2012, he was appointed General Manager, Supply Chain in an expanded role that included Procurement, Manufacturing, Sales Operations, Logistics and Distribution.
Before joining Meyer Plc in October 2016 as Managing Director, he had a brief stint with Dansa Foods Limited as General Manager, Operations and later as acting Managing Director.
Mr Akinnola is said to be a highly focused and result-driven individual with an unwavering passion for excellence. He has over 20 years’ experience across various industries. As a professional, he has achieved leadership roles in various areas of functional responsibilities in the corporate environment with track record of outstanding achievements.
He holds a Bachelor degree in Microbiology from the University of Lagos and a MBA degree in Operations Management. He also holds professional certificates in Supply Chain Management from Canada & the USA. He has attended various developmental programs both within and outside the Country.
He belongs to a number of professional bodies including: Nigerian Institute of Management (NIM), Supply Chain Management Association (SCMA, Canada), Council of Supply Chain Management Professional (CSCMP, America) and Nigerian Institute of Food Science & Technology (NIFST). He is also a Fellow of the Institute of Logistics Management of Nigeria (ILMN).
On her part, Mrs Ifetola Fadeyibi graduated from Obafemi Awolowo University lIe-lfe, Osun State with a second class upper degree in Law in 2000 and was called to the Nigerian Bar in 2002. She began her legal practice as an intern at the Law Firm of Chris Ogunbanjo & Co. in 2000. She joined the Law Firm of Jackson, Etti & Edu in 2002 under the National Youth Service Corp programme and rose to the position of an Associate in the Firm till May 2008.
Thereafter, she joined the Company Secretariat and Legal Department of Capital Express Assurance Ltd (a life insurance company) in July 2008 as an Assistant Manager. In 2012, she briefly worked in the law firm of Kola Awodein SAN & Co, and later became the Company Secretary of Afromedia Pic. in August 2012, where she worked before her appointment with Meyer Pic. as Company Secretory.
She has cognate experience of over 14 years in legal and company secretarial services. She is a member of the Nigerian Bar Association and an Associate of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
