By Aduragbemi Omiyale

Mr Abimbola Oguntunde has been appointed as the new chairman of Sovereign Trust Insurance (STI) Plc.

He was chosen to chair the insurance company at the meeting of the board held on Friday, June 13, 2025, a statement from the firm to the Nigerian Exchange (NGX) Limited, disclosed.

It was revealed that until his appointment, Mr Oguntunde was a non-executive director of the underwriting organisation.

The new chairman is an experienced banker, economist and certified project manager with more than 30 years of experience in the banking industry, managament consulting and the international public sector. He has held top management positions in lkeading financial institutions like UBA, Sterling Bank and Access Bank.

Mr Oguntunde studied Economics at the University of Lagos and graduated with First Class honours and subsequently acquired a Master’s degree in Economics from the same institution. He also holds an MBA in International Banking and Finance with distinction from the University of Birmingham, UK.

The appointee has worked with Sovereign Trust Insurance in specific areas of capital raising, business transformation and reorganisation.

He is the Managing Partner of Devtage Consulting and the chief executive of Devtage Group, a global management consulting, technology, corporate training and development firm.

By Aduragbemi Omiyale

The Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Olufemi Soneye, has resigned from his position, days after he was named Spokesperson of the Year in 2025 by the Nigerian Institute of Public Relations (NIPR),

In a Facebook post on Saturday, the media practitioner thanked his colleagues for the support he received from them since he took the job as the spokesman of the state-owned oil agency almost two years ago, when he replaced Mr Garba Muhammad.

He said it was an honour to serve as the image maker of the NNPC, noting that his decision to step “aside from my role as Chief Corporate Communications Officer of NNPC Ltd” was to “allow me to devote more time to my family and attend to personal responsibilities that now require my closer presence.”

“It has been a profound honour to serve both the company and our country and to contribute in my own way to the ongoing transformation of NNPC Ltd.

“I am deeply grateful for the trust reposed in me, the opportunities granted, and the incredible professionals both within and outside the organisation with whom I have worked.

“I remain a steadfast supporter and ambassador of NNPC Ltd wherever I go. I enjoin you, dear colleagues, to continue your robust, balanced, and constructive reportage to support the company’s noble mission and strategic role in Nigeria’s energy future. With sincere appreciation,” Mr Soneye said in his post.

By Aduragbemi Omiyale

The board of UPDC Plc has settled for Mr Francis Akinyemi Falola as the new Chief Financial Officer (CFO) of the company with effect from June 16, 2025.

His appointment followed the resignation of the former occupier of the position, Mr Grant Akata, a statement filed to the Nigerian Exchange (NGX) Limited on Friday said.

Mr Falola, a graduate of the Olabisi Onabanjo University (formerly known as Ogun State University), possesses extensive experience in financial reporting and tax, treasury management, credit control, financial reviews, financial analysis, auditing, accounting and budgeting.

He started his career with Phoenix of Nigeria Assurance Plc and later joined Custodian and Allied Insurance Limited where he worked in different roles, including Head of Credit Control and Debt Management and Head of Finance and Account.

The new CFO of UPDC is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with over two decades working experience in Finance and Accounting roles.

After obtaining a bachelor’s degree in Accounting, he proceeded to the Lagos State University for a Master of Business Administration (MBA). He also completed a Senior Management Programme from the Lagos Business School (LBS).