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Fezoua Becomes GE Africa CEO as Ireland Retires

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By Modupe Gbadeyanka

General Electric (GE) has announced the appointment of Farid Fezoua as the President and CEO of GE Africa.

This followed the retirement of the former occupier of the position, Mr Jay Ireland, effective September 30, 2018, after 38 years of service.

“It has been a great honour to build GE Africa” said Jay Ireland. “The past 7 years in Sub-Saharan Africa have been the most rewarding of my 38 years in GE. The opportunities across many sectors, the optimism, the energy and entrepreneurial nature of the people have all contributed to a wonderful experience.

“I am extremely proud of the value we have created together with our customers and partners. I want to thank all 2600 employees in the region for their support and commitment to making GE a valued partner for the development of infrastructure in Africa.”

Over the course of his career, Ireland held several leadership positions in GE. He led GE Asset Management (GEAM), a global investment firm with about US$120 billion in assets under management at the time.

He was President of NBC Universal Television Stations and Network Operations where he had overall executive responsibility for NBC Universal’s 10 television stations, the Telemundo network and its 16 Spanish language television stations.

Before joining NBC in 1999, he had been the CFO of GE Plastics. Ireland started his career with General Electric in 1980 in its Financial Management Program after 3 years as a US Army Officer.

Ireland plays a significant external role advocating for investment in Africa. He is the Chair of the US President’s Advisory Council on Doing Business in Africa.

He is also Co-Chair of the US Africa Business Centre – launched in 2015 to lead the U.S. business community’s engagement with Africa’s regional economic communities, the private sector, and small and medium-sized enterprises (SMEs).

Ireland was a member of the African Development Bank’s special panel on accelerating the implementation of its ten-year strategy. He was a recipient of the Africa investor Magazine’s ‘International Business Leader of the Year’ award in 2012 and 2013 and in October 2017, he was awarded the ‘Princeton in Africa’ medal for his innovative leadership and dedication to high-impact investments and growth opportunities across Africa.

“Jay has been an inspiring leader, colleague and role model over the course of a remarkable 38 years with the Company” said Alex Dimitrief, President and CEO GE Global. “He has had a spectacular career. Under Jay’s leadership, GE has tripled its annual revenues in Sub-Saharan Africa and established a strong bench of African executives leading the company’s businesses on the continent. GE remains firmly committed to Africa. Farid’s excellent track record of leading GE Healthcare across Africa makes him the right choice to lead the next phase of GE’s strategy and growth in the region.”

With a career spanning almost 28 years, Farid Fezoua has been leading GE Healthcare’s business growth in Africa since 2012. He has led the development of major large-scale modernization programs with public and private sector project development/partnerships across Africa.

Farid joined GE in 2003 to lead customer financing efforts for GE Healthcare’s Middle East, Africa and Turkey Region. In 2005, he was appointed Regional Executive for GE Capital Markets Corporate, leading customer and project finance for all GE businesses in the Middle East and Africa.

Prior to joining GE, he held several senior positions in international banks. He started his career at BCEN-Eurobank, Paris (subsidiary of the Russian foreign trade Bank). He then went on to serve as Deputy Head of Commodity and Trade Finance at B.A.I.I. (Banque Arabe et Internationale d’Investissement, a subsidiary of BNP specialized in trade and investment in the MENA region). He was also the Assistant General Manager & Head of Correspondent Banking and Trade Finance at the Arab Banking Corporation, Paris Branch.

Farid has extensive experience in the financing of trade and investment flows across the Middle East, Africa and Europe. He has developed a strong track record of infrastructure project development & financing in the field of power, transportation & healthcare as well as business operations & management.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Lagos Assembly Names Four New Principal Officers After Obasa Ouster

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lagos assembly land use charge

By Adedapo Adesanya

The Lagos State House of Assembly on Friday named four new principal officers, following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.

Mr Obasa, who was ousted as Speaker in absentia, a position he has held for the last nine years, was replaced by Mrs Mojisola Meranda (APC-Apapa 1).

Mr Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.

The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.

The House also dissolved all the standing committees inaugurated by the former speaker.

On Friday, Mrs Meranda, while presiding over plenary as Speaker, said the appointment of new officers arose from the change in the leadership of the House.

“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.

“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.

Before Mr Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.

Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Mr Setonji David was the Deputy Chief Whip.

Business Post reports that three lawmakers, primarily Mr Obasa, Mr Adams and Mr Akinsanya, were absent at the first plenary presided over by the new leadership.

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CBN Okays Inclusion of Three Directors to Fidelity Bank Board

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Fidelity Bank Saturday banking

By Aduragbemi Omiyale

Fidelity Bank Plc has received the authorisation of the Central Bank of Nigeria (CBN) to appoint three directors to its board, a statement from the lender has disclosed.

Business Post reports that the bank picked Mr Abdullahi Sarki Mohammed as an independent non-executive director, Ms Obiaku Augusta Okam as a non-executive director, and Mr Sufiyanu Ibrahim Garba as an executive director, all effective January 14, 2025.

The company disclosed that the three directors were chosen to strengthen its leadership in a strategic move to sustain its impressive performance, as Mr Isa Mohammed Inuwa and Mr Chidi Agbapu retired from the board as an independent non-executive director and a non-executive director, respectively.

The chairman of Fidelity Bank, Mr Mustafa Chike-Obi, in a notice to the Nigerian Exchange (NGX) Limited, welcomed the appointees to the board and looked “forward to leveraging their extensive experience to drive the bank’s strategic objectives and further its growth trajectory.”

Mr Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.

On her part, Ms Okam boasts more than 30 years of impressive experience across the banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).

As for Mr Garba, he has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.

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Institute Names Olam Agri as Top Employer in Nigeria, Switzerland, Eight Others

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Olam Agri food commodities

By Modupe Gbadeyanka

A leading player in the agribusiness sector, Olam Agri, has been recognised as a Top Employer in Nigeria, Switzerland and eight other countries.

This recognition was from the Top Employers Institute, which is a global authority that recognises excellence in people’s practices.

It is the fifth straight year the company is named as a Top Employer in the African continent, highlighting its status as a global employer of choice.

“At Olam Agri, we foster a purpose-driven workplace where employees thrive. We empower our team to create meaningful contributions to our company, customers, communities, and the environment.

“Guided by our entrepreneurial spirit, we encourage ownership, innovation, and excellence. We embrace diversity and create an inclusive environment where everyone feels valued, respected, and empowered to succeed,” the Chief Human Resources Officer at Olam Agri, Sriram Subramanian, stated.

The other eight nations Olam Agri was recognised as a Top Employer are Cameroon, Côte d’Ivoire, Ghana, Mozambique, Senegal, South Africa, Australia, and The Netherlands.

The Top Employers Institute recognises an organisation’s dedication to a better world of work through excellent HR policies and people practices.

The programme has certified and recognised over 2,400 Top Employers in 125 countries/regions across five continents. The survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more.

“Consistency in a not-so-consistent world? In a time of rapid change, where technological, economic, and social factors continually reshape our world, these extraordinary times bring out the best in people and organisations.

“This year’s Top Employers Certification Programme showcases the resilience of the certified Top Employers 2025, who consistently prioritise the growth and wellbeing of their people, as they enrich the world of work. We are proud to celebrate these people-first leaders and teams as the Top Employers for 2025!” the chief executive of Top Employers Institute, Mr David Plink stated.

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