Jobs/Appointments
FCMB’s Ladi Balogun Becomes Legacy Pensions Chairman
By Modupe Gbadeyanka
Group Chief Executive Officer of FCBM Group, Mr Ladi Balogun, has been appointed Chairman of Legacy Pension Managers (Legacy Pensions) Ltd.
His appointment followed completion of the acquisition of 88 percent stake of Legacy Pension by FCMB.
Mr Balogun was until March last year the Chief Executive Officer of First City Monument Bank (the retail and commercial banking subsidiary of FCMB Group).
He has over 23 years’ experience in the financial services industries in Europe, the United States of America and Africa.
Mr Balogun also holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and a Masters in Business Administration (MBA) from Harvard Business School, United States of America.
His appointment in 2007 as the Managing Director of FCMB Limited saw the transformation of the firm from an investment bank to a prominent mid-tier Nigerian commercial bank and financial services group.
By 2017, the banking group had 10,000 employees and contract workers, 4.3 million customers, 200 branches and a banking subsidiary in the United Kingdom.
During this period, FCMB also birthed what became the country’s leading micro-lending institution, Credit Direct Limited.
Mr Balogun serves on the board of several FCMB Group companies and chairs the board of Credit Direct Limited. He also serves as Chairman of Tenet Investment Company, a private equity investment firm, focused on the food and agri-business value chain in West Africa.
Also appointed by Legacy Pensions was Mr James Ilori to the board. He has vast experience in Research, Business Development, Risk Management, and all areas of the investment decision-making process acquired from leading organisations in Nigeria and the United Kingdom.
Before his appointment as the Chief Executive Officer of First City Asset Management (FCAM) in 2014, he worked as a fixed income fund manager with Crown Agents Investment Management in the United Kingdom.
Mr Ilori, who is a CFA Charter holder, has successfully propelled FCAM to become a top-rated wealth management company. It provides services that cut-across collective investment schemes such as mutual funds and investment plans predominantly for retail investors, as well as specialised discretionary portfolio management, for high net-worth individuals and institutional investors, within and outside Nigeria.
Mr Ilori will also serve on Legacy’s investment committee as the pension fund manager seeks to continue its strong investment performance track record, whilst diversifying its portfolio.
A statement by Legacy Pensions said the board appointments have received the approval of the National Pension Commission.
Legacy Pensions has over N230 billion assets under management, which grew by 22 percent in 2017. It has over 350,000 pension contributors, whom it serves from 48 locations across the country.
The appointments signal Legacy Pension’s intent of tapping into the investment and distribution synergies that FCMB Group brings to Legacy Pensions.
The company hopes to leverage on the network and pedigree of FCMB Group Plc and its subsidiaries, which include First City Monument Bank Limited, FCMB Capital Markets, CSL Stockbrokers Limited, CSL Trustees Limited, First City Asset Management Limited, FCMB Microfinance Limited and now, Legacy Pension Managers Limited.
The acquisition, according to Legacy Pensions, received the approval of the Central Bank of Nigeria (CBN), the National Pension Commission, and the Securities and Exchange Commission (SEC) in November 2017.
Jobs/Appointments
NMDPRA CEO Farouk Ahmed, NUPRC Boss Gbenga Komolafe Resign
By Adedapo Adesanya
The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has resigned alongside his counterpart at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe.
Based on the development, President Bola Tinubu has asked the Senate to confirm new chief executives for the two agencies.
The President’s request was contained in separate letters to the Senate on Wednesday, according to a statement signed by Mr Bayo Onanuga, the Special Adviser to the President on Information and Strategy, late on Wednesday.
Both officials were appointed in 2021 by former President Muhammadu Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).
To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Mrs Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Mr Saidu Aliyu Mohammed as CEO of NMDPRA.
Mr Ahmed’s resignation comes amid a high-profile conflict with businessman, Mr Aliko Dangote, who alleged that the NMDPRA chief and his family were living beyond their legitimate means, citing millions of Dollars allegedly spent on overseas schooling for his four children.
Mr Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.
Mr Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.
His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.
He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).
He played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.
Jobs/Appointments
Transcorp Hotels Picks Awele Elumelu as Board Chair
By Adedapo Adesanya
Transcorp Hotels Plc has appointed Mrs Awele Vivien Elumelu as the chair of its board, effective January 1, 2026.
Her appointment follows the scheduled retirement of the current chairman, Mr Emmanuel N. Nnorom.
Mrs Elumelu, a medical doctor with an MBBS from the University of Benin (UNIBEN) and clinical experience in Nigeria and the United Kingdom, brings extensive experience in healthcare, insurance, corporate governance, and philanthropy. She is married to the chairman of Transcorp Plc, Mr Tony Elumelu.
She currently chairs Avon Healthcare Limited, a Nigerian health maintenance organisation, and Avon Medical Practice, a network of hospitals and clinics.
She also chairs Heirs Insurance Brokers and serves as a founding Director of Heirs Holdings Limited. Her executive education includes programmes at Harvard Business School, IMD Switzerland, and the London School of Economics.
According to a statement, her appointment highlights a strategic focus on integrating innovation, wellness, and responsible business practices into Transcorp Hotels’ operations. Mrs Elumelu is also a trustee and co-founder of the Tony Elumelu Foundation, through which she has supported more than 24,000 African entrepreneurs with training, seed capital, and mentorship, while advancing gender inclusion.
Commenting on the appointment, Mr Elumelu tasked his wife to deliver value to stakeholders.
“We are delighted to welcome Dr Awele Elumelu as the board chair of Transcorp Hotels. Her distinguished track record perfectly aligns with our ambition to redefine hospitality through innovation, wellness integration, and responsible business practices. Her strategic insight will be invaluable, as we continue to elevate guest experiences and deliver sustainable value to all stakeholders,” he said.
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc. The firm manages prominent properties including the Transcorp Hilton Abuja and the recently launched 5,000-seat Transcorp Centre. It is part of Transcorp Group’s diversified investments across power, hospitality, and energy sectors in Africa.
Jobs/Appointments
Falade to Head NLNG as Mshelbila Quits to Lead Gas Exporting Countries Forum
By Adedapo Adesanya
The Board of Directors of the Nigeria LNG Limited (NLNG) has appointed Mr Adeleye Falade as its new chief executive. He is to assume office in April 2026.
Mr Falade joins NLNG from Brunei LNG, where he has been serving in a similar position.
His appointment follows the exit of Mr Philip Mshelbila after more than four years of leadership to assume the position of Secretary-General of the Gas Exporting Countries Forum (GECF) in Doha, Qatar. He will officially leave the company on December 31, 2025.
Last weekend, a send-off ceremony was held in Abuja at the weekend to mark the end of the tenure of Mr Mshelbila and was graced by NLNG Directors, executives from shareholder companies, dignitaries from the public sector and energy industry in Nigeria, members of NLNG management, and representatives of various staff groups.
Speaking about the outgoing NLNG helmsman, Mr Olakunle Osobu, NLNG’s Deputy Managing Director, in his remarks described Mr Mshelbila as a man of distinction, an accomplished professional whose expertise spans medicine, environmental health, strategic business leadership, and global gas diplomacy.
He revealed that the outgoing MD stepped in during a period of unprecedented challenges, from the aftermath of COVID-19 and severe flooding that disrupted gas pipelines to vandalism and force majeure declarations by suppliers.
Mr Osobu stated that the global energy turbulence following the Russia–Ukraine war added further strain, but noted that despite these hurdles, NLNG pursued its sustainability goals with courage and innovation.
“Understanding that NLNG needed multiple supply sources, especially with current challenges, Mshelbila championed a bold and strategic pivot to expand NLNG’s feed-gas base beyond the shareholder joint-venture supply chain.
It was also revealed that under his leadership, NLNG negotiated and signed long-term Gas Supply Agreements (GSAs) with six third-party gas suppliers in August 2025. These GSAs commit to delivering an estimated 1,290 million standard cubic feet per day (mmscf/d) of feed-gas to NLNG, a historic step for the Company, marking a seismic shift,”.
Mr Osobu stated that Mr Mshelbila had championed innovation with a forward-looking approach, inspiring NLNG’s workforce to strengthen their commitment to emissions control and environmental stewardship, adding that Mr Mshelbila redefined NLNG’s business model through its transformation programme, building foundations for future sustainability and value creation.
In her remarks, Mrs Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, said, “Thank you for your selflessness, for the steadiness of your leadership, for the clarity of your vision, and for the values that guided your every step. You led with humility, yet you inspired greatness. You carried the weight of challenges with calm resolve. You charted a path toward sustainability long before it became fashionable.”
On his part, Mr Mshelbila expressed profound gratitude to NLNG’s shareholders, Board of Directors, staff, and industry partners for their support throughout his tenure.
He praised the Company’s enduring culture of innovation and excellence and affirmed that he would carry these values into his new role at GECF, where he will promote natural gas as a sustainable and reliable energy source.
As Secretary-General of GECF, Mr Mshelbila will strengthen dialogue between gas-producing and gas-consuming nations, advancing stability in the international gas market.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn











