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Olaniran Olayinka Becomes Acting MD/CEO of Keystone Bank

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By Dipo Olowookere

A First-Class Bachelor’s Degree and a Master’s Degree holder in Economics from the prestigious University of Lagos, Mr Olaniran Olayinka, has been appointed as Acting MD/CEO of Keystone Bank Limited.

A statement from the financial institution on Friday disclosed that the appointment of the former employee of PricewaterhouseCoopers was, however, subject to approval by the Central Bank of Nigeria (CBN).

In the statement signed by the Company Secretary & General Counsel, Dr Michael Agamah, it was stated that the new appointment was in line with the lender’s strategic intent to constantly align its corporate structures and processes to support its sustained push for growth.

With his appointment, Mr Olayinka will lead the Keystone Bank’s Executive Management to drive its strategic business and corporate goals leveraging on the robust banking experience garnered over several years across various sectors of the economy.

Mr Olayinka, who is currently an Executive Director, has over 25 years banking experience covering Operations, Human Resources Management, Corporate Banking, Commercial Banking, Retail Banking and Institutional Banking.

He has attended several executive courses and programmes in Banking Operations, Credit, Risk Management, Business Process Re-engineering, and Change Management, amongst others.

Meanwhile, Chairman of Keystone Bank, Mr Umaru Modibbo, disclosed that the appointment of Mr Olayinka as Acting MD/CEO was based on the bank’s corporate philosophy and culture of optimising her human capital through sustained leadership development.

He stated further that the bank will continue to proactively nurture and harness its existing talents to assume leadership roles in the financial institution.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Jobs/Appointments

Tinubu Reappoints Marwa as NDLEA Chairman

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Buba Marwa Against Illicit Drugs

By Modupe Gbadeyanka

The chairman of the National Drug Law Enforcement Agency (NDLEA), Mr Mohammed Buba Marwa, has been reappointed by President Bola Tinubu.

The former Military Administrator of Lagos State has been asked to retain the position for another five-year term.

This information was confirmed in a statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Friday morning.

“Your reappointment is a vote of confidence in your onerous efforts to rid our country of the menace of drug trafficking and drug abuse. I urge you not to relent in tracking the merchants of hard drugs, out to destroy our people, especially the young ones,” President Tinubu was quoted as saying in the statement.

Mr Marwa was first appointed by President Muhammadu Buhari in January 2021, after serving as the Chairman of the Presidential Advisory Committee for the Elimination of Drug Abuse from 2018 to December 2020.

The reappointment means the Adamawa-born former military officer will remain at the helm of the NDLEA until 2031.

Mr Marwa is a graduate of the Nigerian Military School and the Nigerian Defence Academy (NDA).

After his commissioning as a second lieutenant in 1973, he served as brigade major of the 23 Armoured Brigade, Aide-de-Camp (ADC) to Chief of Army Staff, Lieutenant-General Theophilus Danjuma, and academic registrar of the Nigerian Defence Academy. He also served as Deputy Defence Adviser in the Nigerian Embassy in Washington, DC, and later as Defence Adviser to the Nigerian Permanent Mission to the United Nations.

He holds two postgraduate degrees: a Master of Public and International Affairs from the University of Pittsburgh (1983–85) and a Master of Public Administration from Harvard University (1985–86).

His tenure in the NDLEA has been remarkable for many drug busts, including the arrests of 73,000 drug mules and barons and seizures of over 15 million kilogrammes of various hard drugs.

Under his leadership, the agency has also launched nationwide campaigns to address drug abuse.

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Eko Disco Affirms Rekhiat Momoh Substantive CEO

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Rekhiat Momoh

By Adedapo Adesanya

Eko Electricity Distribution Company (Eko Disco) has confirmed Mrs Rekhiat Momoh as its substantive chief executive, following the redeployment of Mrs Tinuade Sanda to WPG Ltd, the core investor of the energy distribution company.

In March 2024, the Board of EKEDC announced the appointment of Mrs Momoh.

According to a statement by the company, Mrs Momoh, who hails from Etsako West Local Government Area of Edo State, brings nearly three decades of experience in Nigeria’s power industry, having served across defunct the National Electric Power Authority (NEPA) and the Power Holding Company of Nigeria (PHCN), which now falls under the balkanised Eko Disco.

The statement said her extensive background spans commercial operations, marketing, distribution management, and customer service, earning her a reputation as a results-driven executive with deep institutional knowledge.

She has held several key roles within Eko Disco, including General Manager (Commercial), Assistant General Manager (Marketing), and District Manager for Orile, Mushin, and Apapa business units positions where she oversaw operational, financial, and commercial activities.

Under her supervision, the company achieved a notable reduction in Aggregate Technical, Commercial, and Collection (ATC&C) losses, dropping from 32.78 per cent in 2017 to 26.82 per cent in 2019.

Mrs Momoh earned her OND in Business Administration and HND in Marketing from Auchi Polytechnic in 1991, followed by an MBA in Marketing from Lagos State University. She is a Fellow of both the National Institute of Marketing of Nigeria (NIMN) and the Nigerian Institute of Management (NIM), recognised in 2019 and 2020, respectively.

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Tinubu Appoints John Nwabueze as Nigeria’s Tax Ombudsman

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tax reform bills

By Adedapo Adesanya

President Bola Tinubu has appointed Mr John Nwabueze as the Nigeria’s tax ombudsman.

His appointment is in accordance with the provisions of the Joint Revenue Board of Nigeria (Establishment) Act, 2025, according to a statement from the presidency on Wednesday.

A Tax Ombudsman is an independent official who investigates and resolves complaints between taxpayers and tax authorities. His appointment comes as Nigeria prepares to fully begin a new tax regime from January 1, 2026.

Mr Nwabueze in his role will ensure fair treatment, mediate disputes, and help prevent unnecessary litigation by offering neutral solutions to all stakeholders. It is also within his duty to identify systemic issues within Nigeria’s new tax administration, recommend improvements, and educate taxpayers about their rights and obligations.

According to the statement, the appointment aligns with President Tinubu’s commitment to implementing far-reaching and sustainable reforms in the tax and revenue administration framework.

Mr Nwabueze, from Oshimili South Local Government Area of Delta State, brings extensive professional and public service experience to the new job.

Prior to his appointment, he served as Managing Partner of a reputable tax advisory firm, Technical Adviser to the Joint Senate Committees on the Federal Capital Territory and Finance of the National Assembly, and Technical Adviser to the Chief Economic Adviser to former President Olusegun Obasanjo, among other significant engagements in both the public and private sectors.

The new tax ombudsman holds a Doctor of Business Administration (Finance) from Walden University, Minneapolis, USA; a Master of Science in Accounting from Strayer University, Washington, D.C.; and dual Bachelor of Science degrees in Accounting and Mathematics from the University of Jos, Nigeria.

President Tinubu congratulated Mr Nwabueze on his appointment and expresses confidence in his capacity to discharge the responsibilities of his office with integrity, diligence, and utmost professionalism.

The federal government noted that the Office of the Tax Ombudsman has been established to strengthen transparency and accountability within the tax system, enhance confidence in tax administration, and provide a structured mechanism for the fair and impartial resolution of disputes between taxpayers and revenue authorities.

The Office shall be responsible for receiving, reviewing, and resolving complaints relating to taxes, levies, regulatory fees, customs duties, excise matters, and other related issues, in accordance with extant laws and regulations, it added.

Mr Tinubu mandated Mr Nwabueze to ensure that disputes are managed in an efficient, impartial, and non-adversarial manner, thereby safeguarding the rights of taxpayers against the arbitrary or abusive exercise of authority by tax officials.

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