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Finverity Elevates Alex Fenechiu, Symmie Swil

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Finverity

By Modupe Gbadeyanka

The co-founder and former Chief Operating Officer (COO) of Finverity, Mr Alex Fenechiu, has taken over as the Chief Revenue Officer (CRO) of the organisation.

A statement from the firm on Wednesday said Ms Symmie Swil is the new COO and would be expected to provide the company with operational excellence with her impressive track record in business banking.

It was disclosed that her promotion was in recognition of her invaluable contribution as Head of Operations since joining Finverity in 2023.

She has an impressive history of driving significant growth, whilst instilling operational excellence, notably expanding Starling Bank’s business accounts from 150,000 to 430,000 in 18 months.

Since joining Finverity in early 2023, she has been instrumental in building scalable business operations and playing a crucial role in fundraising and financial planning and analysis.

It was stated that these executive changes strengthen Finverity’s leadership team, reinforcing its commitment to operational excellence and robust growth.

The company added that the appointments are critical in ensuring its readiness for scaling and meeting the demands of a rapidly evolving market, particularly as it prepares for the launch of FinverityOS 2.0.

“I am honoured to step into the role of COO at Finverity. I am excited to work closely with Alex and the rest of the team to deliver scalable growth and transform access to supply chain finance.

“I’m looking forward to using my strategy and operational experience from banking and fintech to ensure we can meet our ambitious goals and deliver exceptional service for our clients,” Ms Swil commented on her appointment.

As for Mr Fenechiu, he is expected to focus on driving revenue growth, leveraging his deep understanding of the business and its operations.

“This strategic shift for Symmie and myself is about placing the right people in the right roles to drive Finverity forward. Working with Symmie has been incredible since the day she joined. She is the ideal COO due to her deep understanding of our tech and offerings as well as the complex landscape of banking trade operations.

“Meanwhile, my focus on revenue generation as CRO will hopefully propel us closer towards our ambitious goals of market leaders in SCF solutions,” he stated.

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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Jobs/Appointments

We Sacked Only 450 Workers, Not 900—Kaduna Electric

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Kaduna Electric

By Adedapo Adesanya

The management of Kaduna Electricity Distribution Company (KADECO) has clarified that only 450 staff members, not the reported 900, were disengaged from its service amid a continued strike that has left its franchise state in darkness.

The industrial action, which began on Monday, was initiated by the National Union of Electricity Employees (NUEE) in response to the alleged mass layoff and other grievances, including non-payment of pensions and inadequate work conditions.

The aggrieved union had claimed that 900 of its members were affected by the action of the company.

Business Post earlier reported that workers blocked the entrance to Kaduna Electric’s headquarters, halting operations and leaving residents without power.

NUEE officials have expressed strong opposition to the management’s actions, labeling the planned layoffs as “unacceptable” and emphasising that they will continue their protest until their demands are met.

The management’s letter, dated January 31, 2025, indicated that affected workers were to return company property and would receive their severance packages in due course.

Responding to these allegations, Kaduna Electric said the restructuring, though difficult, was a necessary step to align the company with current market realities and create a more efficient workforce.

The company also said its management has initiated a comprehensive transformation exercise to ensure the company’s long-term sustainability.

“Contrary to claims by labour unions that 900 staff members were affected, the company confirms that “services no longer required” letters were issued to 450 employees.

“This decision was made in response to significant operational and financial challenges that have hindered the company’s ability to meet its market & operational obligations,” the energy firm explained.

It emphasised that this right-sizing initiative alongside capital investment are crucial for implementing impactful measures to improve operations and ensure sustainability.

The company expressed regret over the prolonged power outage caused by the industrial action, which lasted over 24 hours to some of the customers across its franchise, and restated its commitment to resolving labor disputes amicably and restoring normal operations as quickly as possible.

“The management also thanked security agencies for their support during the industrial action, ensuring the safety of personnel and facilities during this challenging period,” it noted, reassuring its customers of its dedication to providing reliable power supply and apologised for the inconvenience caused by the outage.

“The company remains focused on overcoming its current challenges and emerging stronger to better serve its customers and stakeholders,” it said.

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Azubike Emodi Takes Over as New Afriland Properties CEO

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Azubike Emodi

By Adedapo Adesanya

Afriland Properties Plc has appointed Mr Azubike Emodi as its new chief executive, a statement from the chairman of the company’s board, Mr Emmanuel Nnorom, has revealed.

In the statement issued on Tuesday, Mr Nnorom said Mr Emodi is taking over from Mr Uzo Oshogwe, who led the organisation since 2013. He is left the position to take over as the chief executive of Transcorp Hotels Plc.

The chairman noted that Mr Emodi will bring over 20 years of experience spanning financial services, real estate development, and strategic planning.

He described him as a visionary leader that had consistently driven organisational growth and delivered transformative results in several companies, including Royal Bank of Canada, VFD Group, VBank, Anchoria Asset Management, and most recently, Herel Global.

Mr Nnorom said the new Sheriff in town would drive the vision of Afriland Properties, creating from value from its position as one of Nigeria’s largest land banks, adding that the real estate firm will continue to deliver the significant residential and commercial real estate projects in its project pipeline.

“We are delighted to welcome Azubike Emodi as the new Managing Director/CEO of Afriland Properties Plc.

“His vast experience, strategic mindset, and exceptional leadership make him the perfect choice to lead the company’s next growth phase.

“With his expertise, we are confident that Afriland will continue delivering innovative real estate solutions and creating value for stakeholders.

“His leadership aligns seamlessly with our core values of Enterprise, Excellence, and Execution,” he said.

Expressing enthusiasm for the role, Mr Emodi said he was honoured to lead the company at such pivotal time, noting that its strong legacy of innovation and excellence in real estate development was unrivalled.

He expressed the optimism to work with the company’s talented team to drive sustainable growth, create world-class properties, and enhance stakeholder value.

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Oscar Ivara Becomes Spokesman for Tincan Island Command of Customs

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Oscar Ivara Tincan Island Customs

By Bon Peters

The Tincan Island Command of the Nigeria Customs Service (NCS) in Lagos has a new public relations officer (PRO) and he is Mr Oscar Enya Ivara, a Superintendent of Customs by rank.

The PR expert and member of the Nigeria Institute of Public Relations (NIPR) took over the position at a brief ceremony last Friday from SC Ngozi Okwara.

He promised to effectively explore the media landscape in Lagos and team up with his high-flying Area Controller, Mr Frank Onyeka, to keep the command’s activities relevant and engaging and to build trust and accountability with all port operators.

Mr Ivara joined the agency in February 2009 as a cadet inspector and has worked in different capacities, including as a station officer in the Bauchi/Gombe Area Command, patrol officer under the Enforcement Unit of Ogun 1 Area Command, PRO for Bauchi/Gombe Area Command, PRO for Ikorodu Lighter Command, and PRO for Area 1 Command Port Harcourt.

Born on April 6, 1978 in Abi LGA, Calabar, Cross River State, Mr Ivara boasts a BSc in Business Administration, a post-graduate diploma in Public Administration from Ahmadu Bello University Zaria, and an MSc in Customs Administration and Border Management from University of Port Harcourt, Rivers State.

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