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Ayodeji Ebo Moves to Greenwich Merchant Bank from Afrinvest

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Ayodeji Ebo

By Dipo Olowookere

The Managing Director of Afrinvest Securities Limited, Mr Ayodeji Ebo, has moved to the newly licenced Greenwich Merchant Bank.

Business Post reports that Greenwich Merchant Bank is a subsidiary of Greenwich Trust Limited, an authorised investment banking company in Nigeria.

Mr Ebo left his position at Afrinvest to join the new organisation as the Senior Economist/Head of Research and Strategy.

The respected analyst, who is armed with over 14 years’ experience in the financial market, was appointed the Managing Director of Afrinvest Securities, a top stockbroking firm in the country, in 2017. The firm is a subsidiary of Afrinvest (West Africa) Limited.

Greenwich Merchant Bank commenced operations in October 2020 and it plans to position itself as the go-to institution for providing financial services to both local and international clienteles.

According to the Managing Director of Greenwich Merchant Bank, Mr Dele Babade, the company intends to offer value to its clients as well as expand rapidly.

“The key focus would be on being a local bank that meets international standards in customer service, professionalism and ethics which we intend to scale up over the next few years and as we have said beyond Nigeria.

“We may be small for now, but the intention is that we would punch beyond our weight. So, there is in place a five-year strategy which we would continue to reshape and finetune as we proceed,” he said.

Mr Babade added that, “In addition to serving clients in Nigeria, we want to be known as the first point of call or window into Nigeria for international investors who are seeking entry into Nigeria either as Direct Foreign Investment (DFI) or multilateral funders to Nigerian businesses via our debt advisory team.

“Secondly to portfolio equity investors, whether institutional or retail especially institutional investors via our stockbroking team in GSL, strategic investors hoping to buy into Nigerian companies via our advisory team and diaspora investors looking to invest via our asset management businesses.”

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 dipo.olowookere@businesspost.ng

Jobs/Appointments

Outrage as NNPC Appoints French-Swiss National to Head Oil Trading Business

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Jean-marc cordier oil trading business

By Adedapo Adesanya

Nigeria’s oil company, the Nigerian National Petroleum Company (NNPC) Limited, has appointed Mr Jean-Marc Cordier, a former Vice President of the Abu Dhabi National Oil Company (ADNOC), to head its oil trading business.

This was disclosed in a statement signed by Mr Garbadeen Muhammad, the Chief Corporate Communications Officer of the organisation, saying Mr Cordier joined as the Head of its oil trading arm, NNPC Trading Limited.

He said Mr Cordier’s appointment was in furtherance of the ongoing repositioning drive in the company toward improved growth, better performance and service delivery.

According to the company, the renowned international oil trader, a French/Swiss national, holds a Master’s degree in Corporate Finance with Distinction from Paris 9 University.

“[Mr] Cordier comes into the role with a rich background spanning over 30 years in physical oil, oil derivatives and risk management with significant experience in reorganizing and creating a trading business,” he said.

He spent 24 years with Elf Trading/Total Trading in various positions as Trader, Trading Desk Manager in Geneva and four years as the Global Trading Manager at Addax Energy in Geneva.

At ADNOC in Abu Dhabi, UAE, he served as Vice President, Middle Distillates, Senior Vice President of Risk Management, Senior Team Member in charge of building the trading activity for ADNOC and the launch of ADNOC Global Trading (AGT) in December 2020,” he said.

Mr Muhammad said that Cordier had since assumed duty.

Business Post understands that the French-Swiss national’s appointment has sparked outbursts from stakeholders who complained that it doesn’t align with the promises of the Petroleum Industry Act (PIA), which promises more Nigerian involvement in the country’s oil company.

While some argued that expatriates have always held posts in oil companies, others said NNPC should endeavour to promote the local content drive of the federal government.

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Jobrole Introduces Flexible HR Plan for SMEs

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Chigbo Okeke Jobrole Flexi HR Plan

By Modupe Gbadeyanka

An outsourced human resources (HR) management solution designed to accelerate the activities of small and medium enterprises (SMEs) in the country has been introduced by a leading talent management company in Nigeria, Jobrole Consulting Limited.

This plan, called Jobrole Flexi HR, will enable small business owners to navigate common HR challenges while focusing on core business operations.

It is an integrated human resources and business solution designed to meet the administrative needs of Nigerian small businesses and help them grow from sole proprietorships to flourishing organizations with select employees and clientele lists.

Jobrole Consulting is reputed for its wide-ranging human resources solution for high business performance, and this new package further cements its status in the industry.

The Director of Strategy and New Market at Jobrole Consulting, Mr Chigbo Okeke, informed newsmen that the Jobrole Flexi HR plan was to justify that people are a strategic resource for every business.

According to him, no matter how large or small a business is, there is always a need to use effective HR strategic planning techniques to manage the company’s resources and minimize human resources issues.

“We are excited to introduce Jobrole Flexi HR plan to the Nigerian SME market. This is an outsourced HR management solution that assists start-ups and other small-to-medium-sized businesses in reducing operational issues such as staff identity risks, recruitment turnaround time, hiring costs, and developing HR policies for your organization.

“These HR activities are vital business functions, strategic to the operational success of all businesses. We help our clients carry out these tasks and get them done without a hitch while they face their core business operations,” he said.

Mr Okeke added that, “Nigerian small businesses must prioritize building a comprehensive human resources programme into the company’s overall business strategy.”

This, he said, is critical to increasing their bottom line and capable of strengthening their organization’s competitive advantage.

Some Flexi HR deliverables include staff recruitment, onboarding and documentation, employee background checks, performance management, payroll management, and HR policy development.

He urged small business owners in Nigeria to take into account that the HR role is key to their operations, noting that with the changing nature of the work environment in recent years, it is now very clear that the role of HR is very significant for small and bigger businesses because the value one or a few employees add to the business’s performance is quite significant and immeasurable.

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Former NBS Chief Yemi Kale Joins KPMG Nigeria as Chief Economist

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Yemi Kale KPMG Nigeria

By Aduragbemi Omiyale

The former chief executive officer of the National Bureau of Statistics (NBS), Mr Yemi Kale, has joined a leading audit firm, KPMG Nigeria, as a partner and chief economist.

Mr Kale was also Nigeria’s Statistician General of the Federation between 2011 and 2021 and was very respected for how he projected the agency as a reputable stats agency.

In a post on Thursday, KPMG said Mr Kale would lead the company’s view on macroeconomics and enhance the breadth of our solutions involving economic modelling and macroeconomic analysis in private and public sector clients.

“The partners and staff of KPMG Nigeria are pleased to welcome Dr Oyeyemi Kale to our firm as he assumes the role of Partner and Chief Economist of KPMG Nigeria.

“Yemi holds a B.Sc. Honours degree in Economics (first class), Addis Ababa University, and an http://M.Sc. (Distinction) and PhD in Economics from The London School of Economics and Political Science.

“He has deep experience, gained from both the private and public sector, in macroeconomic analysis, financial, economic and investment research and fiscal and macroeconomic policy advisory.

“From 2011 to 2021, he served as the Statistician General of the Federation/Chief Executive Officer of the National Bureau of Statistics (NBS).

“As our Chief Economist, Yemi will lead the firm’s view on macroeconomics and enhance the breadth of our solutions involving economic modelling & macroeconomic analysis in private and public sector clients,” the announcement read.

Under his watch, the stats office released data that were favourable and unfavourable to the ruling government with fear.

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