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Adesina Gets Presidential Approval for Second Term as AfDB President

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akinwumi adesina world food prize

By Adedapo Adesanya

President Muhammadu Buhari has approved the nomination of Akinwumi Adesina for a second term as the president of African Development Bank (AfDB) ahead of the bank’s election scheduled to hold in 2020.

Mr Adesina disclosed this on Sunday while receiving the Emeka Anyaoku lifetime achievement award presented to him by the Hallmark of Labour Foundation.

During his acceptance speech, he said, “When asked by former President Goodluck Jonathan to serve as Minister of Agriculture, it was duty calling me to the land of my birth.”

“I served Nigeria to the very best of my ability. I thank God that Nigeria’s agriculture sector witnessed a much-needed transformation at the time.

“With the strong support of President Jonathan and the then President-elect, Buhari, we campaigned very hard for the position of the President of the African Development Bank.”

The 60-year old stated that his first nomination was a “Nigeria effort”, as all hands were on deck. This included former presidents and heads of state – Gen. Abdulsalami Abubakar, Gen. Yakubu Gowon, Olusegun Obasanjo, former Vice-Presidents Atiku Abubakar and Namadi Sambo, and, Dr Ngozi Okonjo-Iweala.

“By God’s grace, I was elected President of the African Development Bank on May 28, 2015, exactly 24 hours after my term of office as minister ended.

“The nation jubilated as I became the first-ever Nigerian to be elected President of the bank since its establishment in 1964.

“Once again, Nigeria gave me air in my lungs.”

This has not come as a surprise as he had earlier noted his intentions to contest for a second term in office at the end of the bank’s annual meeting in Malabo, Equatorial Guinea.

“I will run as a candidate to complete the work we have started,” he had said.

“I understand my responsibilities. I do not work for myself. I work with all of my body to fast track the development of this continent with the support of our donors.

“I am driven by Africa and it is not a chore for me.”

Listing the progress made by the bank during his first term, he said 16 million people have been provided access to electricity and 70 million, improved agricultural technologies.

“We have also given nine million people access to finance from private sector companies, provided 55 million people with access to improved transport, and 31 million people with access to water and sanitation.

“In all, 181 million people have directly benefited from our investments. I am proud of all my staff and the Board of Directors whose hard work and relentless support have helped make this happen.

“The African Development Bank has continued to maintain its global AAA rating. Last year, the bank was rated the 4th most transparent institution globally.” He said.

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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Tinubu Appoints Ogunjumi Acting Accountant General as Madein Retires

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Shamseldeen Babatunde Ogunjimi

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.

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CBN Denies Forceful Mass Retirement Amid Restructuring

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CBN IMTOs

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.

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CBN Okays Appointment of Benson Ogundeji as Greenwich Merchant Bank CEO

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Benson Ogundeji 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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