By Dipo Olowookere
Ecobank Nigeria Limited will in 2022 have a new Regional Executive/Managing Director as a result of the retirement of the current occupier of the seat, Mr Patrick Akinwuntan.
Mr Akinwuntan, a respected banker with many years of experience, will reach his retirement age in January 2022, a statement from the financial institution disclosed.
In view of this, the leading pan-African banking group and parent company of the Nigerian lender, Ecobank Group, has chosen Mr Jubril Mobolaji Lawal as his successor.
However, the appointment of Mr Lawal is subject to the approval of the Central Bank of Nigeria (CBN), the regulatory body of the banking industry in Nigeria.
It was disclosed that Mr Lawal was favoured for the position after a keenly contested selection process, which included both internal and external candidates.
He joins Ecobank having been a versatile senior banking executive and digital transformation specialist for over 28 years with GTBank. He has deep involvement and experience in digital and retail banking, corporate and commercial banking, credit risk management and corporate finance.
His previous experience includes being Executive Director at GTBank, and Non-Executive Director roles at both GTBank Ghana Limited and Nigeria Interbank Settlement Systems Plc.
Mr Lawal led the team that envisioned and implemented GTBank’s retail and digital banking strategy to achieve industry-wide leadership over a 10-year period and he introduced new products and solutions that have helped to deepen payments and access to digital financial services in Nigeria.
He boasts of a Bachelor of Law degree from the Obafemi Awolowo University, Nigeria; B.L. from the Nigerian Law School and a Master of Business Administration from Oxford University, United Kingdom.
He has also attended several executive management and banking specific developmental programmes at leading educational institutions including Harvard Business School, Stanford Graduate School of Business and Institut Européen d’Administration des Affaires (INSEAD).
“We welcome Mobolaji Lawal to the Ecobank Group and we stand to benefit from the extensive experience that he has acquired in various fields across banking, which will play a major role in continuing to rebuild our franchise in Nigeria.
“Nigeria is a key market for us, in which we have seen significant improvement over the past three years as we reposition and leverage upon our pan-African strengths in digital products and services, payments and as the go-to-bank for businesses seeking to grasp the growth opportunities being created by the AfCFTA, across all our markets on the continent.
“I wish Mobolaji the best and assure him of both my support and that of the entire Ecobank Group,” the CEO of Ecobank Group, Mr Ade Ayeyemi, stated.
On her part, the Chairman of Ecobank Nigeria, Mrs Bola Adesola, said she looks “forward to working with Mobolaji and assure him of the full support of the board, management and all the staff of Ecobank Nigeria. The business in Nigeria is on the path of transformation and we are confident that Mobolaji will have a significant impact in advancing our positive trajectory.”
Osita Chidoka Leaves Guinea Insurance Board
By Dipo Olowookere
Former Minister of Aviation, Mr Osita Chidoka, has resigned from the board of Guinea Insurance Plc to concentrate on his private matters.
A statement signed by the company secretary, Ms Chinneye Nwankwo, disclosed that the politician, who was once the Corps Marshal and Chief Executive of the Federal Road Safety Corps (FRSC), served on the board as a non-executive.
During his time on the board, he contributed immensely to the growth of the underwriting company and the team appreciated him for this.
In the notice, Guinea Insurance wished the member of the opposition Peoples Democratic Party (PDP) well in his future endeavours.
“Guinea Insurance Plc wishes to inform the Nigerian Exchange Limited (NGX), its esteemed shareholders and the general public of the resignation of Mr Osita Chidoka from the board of directors of the company.
“The resignation of Mr Chidoka is to enable him more time to pursue his private business. The board recognized his immense contributions, selfless service and commitment to the progress of the company and wished him success in his future endeavours,” the disclosure stated.
Goyal, Pule Join Advisory Board of Sabi
By Modupe Gbadeyanka
The founder of Africa Lighthouse Capital, Bame Pule; and the Head of M&A at Udaan, India, Sapna Goyal have been appointed to the advisory board of Sabi, a leading B2B marketplace serving Africa’s informal economy.
The duo will work with the company and bolster its network and knowledge to help improve the infrastructure for informal business.
According to the co-founder/CEO of Sabi, Anu Adasolum, the two highly talented and strategic business leaders will bring fresh insights and perspectives to the board.
“Their expertise and track record in driving value will be critical for Sabi in our quest to serve the informal economy. We look forward to working together as we maintain our exceptional growth,” Adasolum stated.
Bame Pule established an independent Mauritius-based private equity firm founded in 2012 to invest in and nurture businesses into African champions.
The firm has a particular focus on helping investee companies adopt global best practices regardless of sector, attain benchmarks equivalent to those of global peers, and expand into multiple key African markets.
Prior to founding Africa Lighthouse Capital, Mr Pule worked at Actis Capital, ShoreView Capital, Goldman Sachs in New York, Credit Suisse in New York and Salomon Brothers/Citigroup in Los Angeles.
He pursued bachelor’s degrees in Economics and Political Science (double major) from Pomona College in Claremont, California and was awarded the Pomona Scholar prize for superior academic achievement in 1997 and 1999. Mr Pule also pursued a master’s in business administration (MBA) degree from Harvard Business School in Boston, Massachusetts.
On her part, Sapna has investing experience in early and growth stage internet start-ups in India. Before joining udaan, she worked with Goldman Sachs Investment Partners (GSIP) VC & Growth Equity Fund by being responsible for investments in the Indian internet space.
She also has investing experience in Indian Public Markets as part of a hedge fund at GS. She is passionate about the change internet can bring to India and how it is a great leveller. She is an active angel investor.
Stockbrokers Elect Oluwole Adeosun as New CIS President
By Adedapo Adesanya
The Chartered Institute of Stockbrokers (CIS) has elected Mr Oluwole Adeosun as its new President and Chairman of its governing council.
With his emergence, Mr Adeosun, who was the institute’s former 1st Vice President, succeeds the erstwhile President, Mr Olatunde Amolegbe, at an election held during the institute’s hybrid annual general meeting on Thursday, May 5 in Lagos.
Mr Adeosun will be formally decorated with the paraphernalia of office in a high profile event known as an investiture at a later date this year.
Mr Adeosun, a fellow of the institute and multinational professional, brings on board over two decades of robust experience in the financial market.
A product of the Loyola College, Ibadan, he holds a B.Sc. (Hons) in Business Administration from the University of Ilorin in 1986 and capped it with a Master’s Degree in Business Administration (MBA) and specialises in Finance and Banking from the University of Lagos in 1993.
Mr Adeosun trained at Coopers at Lybrand (Chartered Accountants), now PricewaterhouseCoopers and qualified as a Chartered Accountant in May 1991. He later qualified as a chartered stockbroker and banker.
He has been a long-standing member of the Governing Council of the Chartered Institute of Stockbrokers since April 2013 and has served as the institute’s first Vice President from 2020 to 2022 and second Vice President from 2018 to 2020.
The stockbroker also served as a member of the Finance and General-Purpose Committee of the Chartered Institute of Bankers of Nigeria (CIBN) and its Investment Subcommittee.
The new CIS President is the Managing Director and Chief Executive Officer of Chartwell Securities Ltd., and a fellow of many major professional institutes in Nigeria’s financial services sector, including, the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Bankers of Nigeria (CIBN) and Chartered Institute of Taxation of Nigeria (CITN) amongst others.
Thursday’s AGM witnessed the re-election of Mrs Fiona Ehimie and Mr Adeyemi Aina to the institute’s Governing Council and the election of Mr Ayodeji Ebo and Mrs Elile Olutimayin to the board as well as the election of the 2nd Vice President, Mr Oluropo Dada, as the 1st Vice President.
In his remarks, Mr Amolegbe, the immediate past president of CIS, expressed optimism that he had left behind a team of top-notch professionals that would further advance the growth and development of the institute.
“My priority has always been to enhance the institute’s brand positioning by increasing its visibility via advocacy while putting the members’ welfare on the front burner,” he said.
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