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Critics Question Aisha Ahmad’s Qualification for New CBN Job

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By Dipo Olowookere

Since Thursday, October 5, 2017, when President Muhammadu Buhari announced Mrs Aishah Ahmad, as the new Deputy Governor of the Central Bank of Nigeria (CBN), there have been controversies trailing the young woman.

Mrs Ahmad was appointed to replace Mrs Serah Alade, who retired in March 2017 as the Deputy Governor of the CBN in charge of Economic Policy.

She is expected to assume duty as CBN deputy governor immediately after her confirmation by the Senate.

A report by Premium Times has said Mrs Ahmad was ‘controversially’ promoted to the position of an Executive Director of Diamond Bank Plc few hours to her announcement for the new CBN job.

But the lender, when contacted by the newspaper, gave a dodgy response to this issue.

Rather than make a categorical comment on when Mrs Ahmad was raised from her position as deputy general manager to executive director, Mr Mike Omeife, Head of Media Relations at the bank, merely said she had been executive director at the bank “for a while”.

He maintained that based on her wealth of experience, she is qualified to be appointed to the new position.

Until her appointment, Mrs Ahmad, a holder of Master of Science, M.Sc degree in Finance & Management from the Cranfield School of Management, United Kingdom (2006-2007) and a Master of Business Administration, MBA in Finance, University of Lagos (1999-2001), was the executive director (Retail Banking) at Diamond Bank Plc.

She is the chairperson, executive council of Women in Management, Business and Public Service, WIMBIZ, a Nigerian non-profit organization focused on issues affecting the interest of women professionals in business, particularly those promoting leadership development and capacity building to engender growth.

Since her appointment, there had been controversies, especially on social media, over her qualification for the CBN job.

SCANTY DETAILS

But in a chat with PREMIUM TIMES on Tuesday, Mr Omeife said the new CBN deputy governor had been an executive director at Diamond Bank “for a while”.

When asked of the specific date, he explained that he might not immediately have the details but he was confident she had been appointed executive director “for a while”.

Our sources maintained Mr Omeife “was economical with the truth”.

Checks by PREMIUM TIMES revealed that details of the bank’s annual report showed that as at December 2016, Mrs Ahmad held the position of Head, Consumer and Privilege Banking. The two executive directors listed in the report are Chizoma Okoli, Executive Director Business Development, and Chiugo Ndubisi, Executive Director/Chief Financial Officer.

Similarly, in its quarterly reports for March and June 2017, the names of the two aforementioned officials remained as executive directors.

Meanwhile, checks on the disclosure platform of the Nigerian Stock Exchange, NSE, for possible announcement of Mrs Ahmad’s elevation also yielded no result as no such disclosure was made throughout 2017.

When contacted on the telephone on Monday, the media officer of the NSE, Joseph Kadiri, could not immediately give response to the request.

He, however, told PREMIUM TIMES to forward the request to him via email and promised to send to appropriate quarters for reply. More than 24 hours after the request was sent with reminders, PREMIUM TIMES has not gotten any response.

But Mr Omeife, Tuesday, suggested that disclosure of Mrs Ahmad’s appointment as ED may not necessarily be made to the Nigerian bourse.

“From the financial services perspective, the CBN handles issues involving people from ED (position) up (wards),” he said.

When asked about the alleged double promotion the new CBN official reportedly enjoyed on the day she was appointed by President Muhammadu Buhari, Mr Omeife said he knew nothing about such development.

“I don’t know about that; all I am meant to understand is that the president appointed her as CBN deputy governor and sent her name to the Senate for approval. I don’t know about that (issue of double promotion).

“But I know she is eminently qualified to be the CBN deputy governor and I am expecting young Nigerians to applaud her,” he said, in reference to Mrs Ahmad’s academic and professional antecedents.

He, however, said further enquiries should be directed to the CBN.

But PREMIUM TIMES’ efforts to reach the CBN were futile. Isaac Okorafor, the apex bank’s spokesperson, did not answer or return calls to his known number. He also did not reply to a text message sent to him.

PRIVILEGE BANKING VS ECONOMIC POLICY

Many commentators alleged that her promotion to the position of executive director at Diamond Bank Plc was ‘fast-tracked’, a few hours to the announcement of her name by the Nigerian government.

Insiders at the bank told PREMIUM TIMES she was promoted executive director hours to the announcement of her appointment to the CBN position. There was a company-wide announcement to that effect, our sources said.

However, the CBN Act does not require that an appointee to that position must be an executive director of a bank, and it is not clear why she had to be controversially upgraded.

Section 8 sub-section 1 of the CBN Act 2007 states, among others, that: “The Governor and Deputy Governors “shall be persons of recognised financial experience and shall be appointed by the President subject to the confirmation of the Senate.”

Some commentators argue that Mrs Ahmad’s expertise may not be the kind of skills needed at the CBN. She is better known for overseeing privilege banking, securing accounts from high net-worth individuals, and providing private client services to wealthy customers. Her understanding of economic policies remained unclear.

Abdul Mahmud, an Abuja-based attorney, said of the appointment, “That she replaces Sarah Alade as Deputy Governor of CBN in charge of economic policy- monetary policy, financial market, etc, before her retirement, makes her catapult curious.

“With a background in accounting and professional training in consumer banking, you would ask: what was her appointor thinking? She is not a monetarist, there is nothing in her CV that shows that she is nuanced in monetary economics.

“Well, with another misfit, Emefiele, at the helm of CBN, who has been accused of doing wash wash -printing more naira notes- an Emefiele-esque Quantitative Easing (QE) -to address liquidity problem and creating the more serious problem of inflationary pressure- a process of policy catalyzation really- you will understand why the oracle has consistently argued that the government projection of the Economic and Recovery Growth Plan (ERGP) to reduce the inflation rate from 19% to 0% by 2020 is a pipe dream.

“Brace up for harder, perilous, and more difficult economic times.”

Source: Premium Times

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 [email protected]

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Jobs/Appointments

UAC Foods Elevates CFO Temitope Omodele to CEO

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Temitope Omodele

By Adedapo Adesanya

Nigerian fast-moving consumer goods (FMCG) powerhouse, UAC Foods Limited, has promoted its Chief Financial Officer, Mrs Temitope Omodele, to the position of chief executive.

The company, a subsidiary of UAC of Nigeria Plc (UACN), officially made the announcement on its official LinkedIn page.

The ex-KPMG executive has a big task ahead of her, particularly with UAC Foods now a N340 billion revenue company buoyed by its recent acquisition of CHI Limited. With the new appointment, the company positions the seasoned finance executive as the driving force to further increase the value of brands like Gala Sausage Roll, Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In its announcement, UAC Foods described the appointment as “an exciting new chapter,” affirming that Mrs Omodele will continue to “drive operational excellence, innovation, sustainable growth and long-term

Mrs Omodele began her career at KPMG Professional Services, where she rose through the ranks, from Senior Associate to Senior Manager, providing audit and assurance services across Nigeria’s financial services, FMCG, power and utilities, and energy and natural resources sectors.

Her time at KPMG was marked by an unusual distinction where she was seconded to the Department of Professional Practice at KPMG Inc. South Africa, gaining cross-border exposure to international standards and methodologies.

Following her return to Nigeria, she helped found the Department of Professional Practice for KPMG Professional Services Nigeria.

She joined the UAC of Nigeria Plc group in September 2020, initially as Technical Accounting and Reporting Lead and quickly advanced to Senior Vice President of Finance, with oversight of group-wide finance operations and reporting for the holding company. In this role, she served as a Non-Executive Director on the Board of Livestock Feeds Plc, a fellow UACN subsidiary.

She was then promoted to the role of Chief Financial Officer at UAC Foods Limited, expanding her operating-company exposure particularly around brand strategy, supply chain economics, and P&L accountability.

Mrs Omodele holds a Bachelor of Science in Accounting from the University of Lagos, supplemented by an Executive MBA from Lagos Business School at Pan-Atlantic University. She further completed Executive Education in data analytics and emerging technologies at the W. P. Carey School of Business, Arizona State University.

She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Fellow of the Association of Chartered Certified Accountants (ACCA).

Originally established as the United African Company in 1879, the company has evolved into one of Nigeria’s oldest and firmest companies. The UAC Foods unit was formally constituted in 2010 through a joint venture with Tiger Brands, the South African packaged food giant. In 2021, UACN acquired Tiger Brands’ minority stake, assuming full ownership and with it, full strategic responsibility for the subsidiary’s future.

The company is best known for its flagship Gala Sausage Roll, which has led Nigeria’s sausage roll market for over 60 years, alongside other popular brands including Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.

In 2025, UACN’s consolidated revenue surged further to N340.47 billion, bolstered by the landmark acquisition of CHI Limited (the maker of Chivita juice and Hollandia dairy products), though profitability came under pressure from elevated financing costs tied to that acquisition.

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Tinubu Okays Recruitment of 1,000 Forest Guards in Oyo

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Forest Guards

By Aduragbemi Omiyale

President Bola Tinubu has approved the recruitment of 1,000 forest guards in Oyo State in collaboration with the state government.

This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, in a statement on Sunday.

The recruitment follows a visit to Esiele and Yawota communities in Oriire Local Government Area of Oyo State by a high-powered federal government delegation on Sunday, May 31, 2026.

The team, led by the President’s Chief of Staff, Mr Femi Gbajabiamila, was in the local council following the abduction of pupils and teachers from Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School on May 15, 2026.

Residents of the communities were promised the safe return of the victims. They were also informed that their request for the establishment of a military base in the area would be conveyed to the President for consideration and approval.

In addition, Mr Tinubu has directed a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the abducted pupils and teachers.

Mr Gbajabiamila, while addressing residents in both English and Yoruba, said the President’s decision to dispatch the nation’s top security leadership to the affected communities reflected his determination to deploy every available resource towards securing the victims’ release.

“Mr President is deeply troubled by this incident. Whatever it takes, our children and teachers will be brought back home safely. He has issued all necessary directives and is providing every support required by our security agencies to achieve that objective.

“Your pain and anxiety are understood. By the grace of God, your children will return safely to your arms.

“Mr President also saw the appeals from some parents and community members urging caution in the rescue efforts. Let me assure you that the operation will be intelligence-led and carefully coordinated, deploying both kinetic and non-kinetic measures to secure the safe return of the victims,” he said.

The delegation was also at the palace of the Soun of Ogbomoso land, Mr Ghandi Afolabi Olaoye, to commiserate with him and his people. The group also met with the wife of the deceased school teacher, Mrs Mary Oyedokun, and her two children.

Other members of the team were the National Security Adviser, Mr Nuhu Ribadu; the Inspector-General of Police, Mr Tunji Disu; the Minister of Defence, Mr Christopher Musa; and the Special Adviser to the President on Media and Public Communications, Mr Sunday Dare.

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NCC Appoints Funke Opeke, ipNX’s Olusola Teniola to IPv6 Board

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olusola teniola ipNX

By Modupe Gbadeyanka

The duo of Mr Olusola Teniola and Ms Funke Opeke are now on the newly inaugurated Internet Protocol version 6 (IPv6) council board of the Nigerian Communications Commission (NCC).

The team was constituted as part of a broader industry effort to accelerate Nigeria’s transition to IPv6.

It has Mr Muhammed Rudman as Chairman, Mr Chris Uwaje as Vice Chairman, and Ms Mary Uduma, Mr Gbenga Adebayo, Mr Lanre Ajayi, and Mr Latif Ladid as members.

At the inauguration in Ikeja, Lagos, NCC said it created the group as part of its renewed commitment to accelerating Nigeria’s transition to IPv6, a critical enabler of the country’s digital future.

Speaking on his appointment, Mr Teniola, a director at ipNX, expressed appreciation to the NCC for the opportunity to serve and reiterated the importance of collaborative action in driving Nigeria’s digital transformation.

“The transition to IPv6 is no longer a future consideration; it is an immediate priority for Nigeria’s digital economy. As data consumption grows and emerging technologies such as 5G, IoT, and AI become more pervasive, we must ensure that our underlying infrastructure is scalable, secure, and globally competitive,” he said.

He further emphasised that achieving meaningful IPv6 adoption will require strong alignment across stakeholders, including telecom operators, internet service providers, enterprises, academia, and government.

“This is a collective responsibility. We must invest in capacity building, drive awareness, and create the right policy and regulatory environment to accelerate adoption. Nigeria cannot afford to lag in an increasingly connected world,” he added.

The IPv6 Council Board has been tasked with developing and overseeing the implementation of a national IPv6 strategy, monitoring progress, and providing periodic updates on adoption levels across the country.

The team will also play a key role in addressing infrastructure challenges, strengthening technical expertise, and recommending policy incentives to support nationwide deployment.

Mr Teniola’s appointment reflects ipNX’s continued commitment to shaping Nigeria’s digital ecosystem and advancing the development of resilient, future-ready network infrastructure across the country.

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