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Elon Musk Names Linda Yaccarino as New Twitter CEO

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Linda Yaccarino

By Adedapo Adesanya

Twitter owner, Mr Elon Musk, has named a new chief executive officer (CEO) of the company just over six months after his controversial takeover of the social media firm.

The billionaire said Ms Linda Yaccarino, the former head of advertising at NBCUniversal, would oversee business operations at the site, which has been struggling to make money.

He said she would start in six weeks while he remains as executive chairman and chief technology officer (CTO).

“Looking forward to working with Linda to transform this platform into X, the everything app,” he wrote on Twitter, confirming the decision a day after he had stoked speculation by writing that he had found a new boss without revealing their identity.

Mr Musk – who bought the social media platform last year for $44 billion – had been under pressure to find someone else to lead the company and refocus his attention on his other businesses, which include electric carmaker Tesla and rocket firm SpaceX.

A graduate of Penn State who now lives outside of New York City on Long Island, she worked at Turner Entertainment for 15 years before joining NBCUniversal, where she oversaw roughly 2,000 people and was involved with the launch of its streaming service.

Ms Yaccarino brings to Twitter a deep background in advertising, which the social media company relies on to make money and which has dropped sharply since Mr Musk’s takeover.

Her extensive advertising background could help repair the damaged relationships between Twitter and advertisers that left the platform following Musk’s chaotic takeover since acquiring Twitter last year.

Mr Musk has been desperate to find ways for the platform to make money to pay off a mountain of debt, and at one point, said that bankruptcy is a possibility.

That is part of the reason why Twitter has rolled out a revamped $8 per month Blue subscription and started charging developers to use its API.

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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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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WTO General Council Reappoints Ngozi Okonjo-Iweala as DG

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Green Hydrogen Ngozi Okonjo-Iweala

By Adedapo Adesanya

The General Council of the World Trade Organisation (WTO) has reappointed its Director-General, Mrs Ngozi Okonjo-Iweala, for a second term, effective  September 1, 2025.

On October 8, the WTO formally commenced the process for appointing its next Director-General, with members given until the 8th of November to submit nominations.

She was elected unopposed after no candidates stepped forward for the position of Director-General had emerged by the nomination deadline, other than the incumbent Director-General.

DG Okonjo-Iweala’s current term comes to an end on August 31, 2025.

She first assumed office as Director-General on March 1 2021, becoming the first woman and first African to lead the WTO.

Her reappointment comes after a special formal meeting of the General Council which started on Thursday, November 28 and culminated on Friday.

The first day of the General Council meeting saw members hear a presentation from Mrs Okonjo-Iweala on her vision for the WTO, followed by a question-and-answer session.

The second day then provided an opportunity for members to decide on the appointment of the next Director-General, to which they gave the Nigerian former finance minister another four years at the helm of affairs.

Speaking on her achievement, the Chairman of the trade body’s council, Ambassador Petter Ølberg of Norway praised her achievements, stating: “The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization.

“Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.”

“As we look ahead, the Council fully supports Dr Okonjo-Iweala’s commitment to ensuring that the WTO remains responsive, inclusive, and results-driven. Her leadership will be critical as the organization continues to advance a resilient, rules-based, and equitable global trading system.”

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