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Corporate Governance Society Inducts Polaris Bank Chairman



Corporate Governance Society Inducts Polaris Bank Chairman

By Dipo Olowookere

Chairman of Board of Directors of Polaris Bank Limited, Mr Muhammad Ahmad, has been inducted as an honorary fell of the Society for Corporate Governance Nigeria (SCGN).

Mr Ahmad was honoured in recognition of his unblemished professional records in the public and private sectors as well as positive contributions to the socio-economic development of Nigeria, the body said.

During the 2018 President’s Dinner/Induction Ceremony of SCGN held in Lagos recently, the Polaris Bank chairman was described as an astute professional with impressive footprints across various public-sector organisations and financial services institutions where he played strategic roles and acted as the catalyst for the entrenchment of good corporate governance.

Speaking at the ceremony, President of SCGN, Mr Pascal Dozie, said the conferment of the honorary fellowship on Mr Ahmad and three other recipients was in line with the key objective of the body.

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“The Society is a registered, not for profit organisation and is committed to the development of corporate governance and best practices. Leadership, accountability, collaboration, diversity and quality, integrity of character remain the pillar of this organisation. Since its inception 13 years ago, the Society has contributed to the development of good corporate governance in this country. The society prides itself in research work some of which have been published in the journal of corporate governance”, he said.

Responding on behalf of the other fellows, Chairman of Polaris Bank expressed delight at the recognition and said they would continue to remain the ambassadors of professional excellence.

“For every society, there are professional standards. And professional standards worldwide are more onerous. Therefore, for us, we are taking additional responsibility. Having been made fellows, what it means is that we should be consistent; we should ensure that whatever the Society for Corporate Governance Nigeria stands for, we should stand for as well”, he affirmed.

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Commenting, Group Managing Director/CEO of Polaris Bank, Mr Tokunbo Abiru, said the award was a celebration of the exemplary leadership capabilities of the Polaris Bank’s Chairman.

“On behalf of the management and staff of Polaris Bank, I congratulate our amiable chairman on this well-deserved honour and recognition by the highly respected Society for Corporate Governance Nigeria. Under Ahmad’s leadership, we see a rewarding, bright future for our bank”, he said.

A man of many great accomplishments, Ahmad boasts about 35 years distinguished professional experience leading and working in various public-sector organisations and financial services institutions in Nigeria.

Amongst others, he was the pioneer Director General/Chief Executive Officer of the National Pension Commission, and also a pioneer staff of the Nigeria Deposit Insurance Corporation (NDIC), where he rose through the ranks to become the Managing Director.

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He has served on the boards of various corporate and not-for-profit organisations including a Non-Executive Director of FBN Holdings Plc until 2017. He has also served on various presidential committees including a member of the Presidential Committee for the North East Intervention (PCNI).

Mr Ahmad holds a Masters Diploma in Innovation and Strategy from the University of Oxford and has also attended courses and programmes in various first-rate business and management schools, including Harvard Business School, IMD and INSEAD. Ahmad is a recipient of the Nigeria national honour – Officer of the Order of the Niger (OON).

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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FCT Administration Disburses N2.6bn to Area Councils, Others



FCT Administration Area Councils

By Adedapo Adesanya

The Federal Capital Territory Administration (FCTA) has disbursed a total of N2.6 billion to the six Area Councils in the FCT and other stakeholders as their share of statutory allocation for the month of June 2021,

The figure shows that there was a minimal drop in revenue from N2.7 billion disbursed in the month of May to N2.6 billion in the month of June.

This was disclosed by the FCT Minister of State, Mrs Ramatu Tijjani Aliyu, who presided over the 155th Joint Account Allocation Committee (JAAC) meeting.

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She appealed to council chairmen and stakeholders to show understanding and make judicious use of the allocation.

The minister explained that the decline in the allocation was a result of the drop in the statutory revenue allocation from the federation account.

Giving a breakdown of the spending, the sum of N773.6 million was made available for distribution to the six area councils, while the sum of N1.9 billion was made available to other stakeholders, bringing the total sum to N2.6 billion.

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However, distribution to area councils shows that the Abuja Municipal Area Council (AMAC), received N188.5 million, while Gwagwalada got N177.6 million and Kuje received N108.5 million.

Also, Bwari Area Council received N84.7 million, Abaji got N117.5 million and Kwali received N97.1 million bringing the total sum to N773.6 billion disbursed to the six area councils.

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Furthermore, distribution to other stakeholders includes Primary Teachers which gulped N1.6 billion, 15 per cent Pension Funds took N226.5 million, One per cent Training Fund gulped N26.6 million, while 10 per cent Employer Pension Contribution gulped N107.8 million, bringing the total sum to N1.9 billion.

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Geodrill Supports Tamale SHS Science Lab Complex



Geodrill Lab Complex

Geodrill Ghana Limited, an exploration drilling go company in the mining sector, has presented a cheque of GH¢150,000 to the OLD TAMASCANS Association (OTA) in Accra.

The amount is Geodrill’s contribution towards equipping the Tamale Senior High School Science Laboratory complex to a state-of-the-art facility for use by the current and future students of the school.

Mr Beninett Yaw Quist Awume the Interim Chairman of the Old Tamascans received the cheque from the CEO of Geodrill in the presence of some alumni of the school.

Making the Presentation, the Chief Executive Officer of Geodrill Ghana Limited, Mr Dave Harper, explained that the donation forms part of the Company’s Corporate Social Responsibility (CSR) and also as a way of giving back to society.

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Mr. Harper revealed that Tamale Senior High School was picked because of the good relationship that he shares with one Dr Ali, a prominent member of Old Tamascans.

The company recently also made a cheque donation of GH¢150,000 to Support the Achimota Senior High School Science Lab Complex.

Mr Dave Harper encouraged other companies to take their Environment, Social and Governance (ESG) obligations seriously and support worthy institutions to fulfil their mission. He expressed hope that science education in Tamale Secondary School, would set the students on the path to successful adult careers so that they can contribute meaningfully to the development of Ghana.

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He furthered that Geodrill was committed to being a socially responsible company that actively promotes social causes such as education, training of Ghanaian youth and also to provide support for science laboratories in schools in Ghana.

Receiving the cheque, the Interim Chairman of the OLD Tamale secondary school Association, TAMASCANS, Mr. Beninett Yaw Quist Awume, expressed his profound gratitude to Geodrill Ghana Limited towards helping equip Tamale Senior High School Science Laboratory Complex.

According to him, the donation is very dear to their heart. He promised that they will make good use of the money and make sure that the project gets completed on time. “It will come to completion and we will look back and say Geodrill Ghana Limited has helped Tamale Senior High School to progress,” Mr Awume

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Mr Awume, also called on other Institutions, Non-governmental Organizations and Civil Society Organizations to emulate Geodrill’s example.

“We look forward to receiving more donations from other companies to sustainably fund the provision of science education and other programs for the benefit of our students,” he said.

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Osinbajo, Jonathan, Others for GbaramatuVoice 6th Anniversary



Osinbajo Cryptocurrency Trading

By Modupe Gabdeyanka

Several top personalities led by the Vice President of Nigeria, Mr Yemi Osinbajo, will be at the 6th anniversary of GbaramatuVoice Newspaper slated for Tuesday, August 10, 2021, by 10:00am, at the Eko Hotels and Suites, Lagos State.

Other important guests expected at the ceremony include former president Goodluck Jonathan, Governor Babajide Sanwo-Olu of Lagos State, Governor Douye Diri of Bayelsa State and Governor Ifeanyi Okowa of Delta State.

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A statement issued by the Publisher and CEO of the newspaper, Mr Jacob Abai, stated that other dignitaries for the anniversary lecture/Niger Delta awards include traditional rulers, captains of industries within and outside the country, executives of International Oil Companies (IOCs) operating in the country, public office holders from the Niger Delta region, leaders of specialized groups in Nigeria, among others.

He said the anniversary/lecture has its central theme as Dwindling State of Crude Oil Demand in the Global Market: The Way Forward, noting that it will centre on critical new research themes as sustainable development goals in the Niger Delta. Its deliberations will address all spectra of analyses including the oil and gas industry.

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Mr Abai further said the event, the third in the series, comes after similar ones held at Transcorp Hilton, Abuja, the Federal Capital Territory (FCT) and Hotel Presidential, Port Harcourt, Rivers States.

It has a rich history of promoting national unity, recognizing the good works of various individuals that have positively imprinted their names in various areas of endeavours while contributing to the life chances of humanity.

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List of eminent Awardees made up of Nigerians and Non-Nigerians drawn from different sectors of human endeavours through rigorous but transparent process shall be made known to the general public in due course.

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