Jobs/Appointments
Polaris Bank MD/CEO Retires After Four Years
By Modupe Gbadeyanka
Prolific banker, Mr Tokunbo Abiru, has announced his retirement from Polaris Bank Limited after serving for four years as its Managing Director/Chief Executive Officer.
In an emotion-laden farewell message to the staff of the bank, Mr Abiru explained that he was leaving to enable him to contribute his quota in other areas of the society.
According to him, his retirement is effective August 31, 2020.
In 2016, the Central Bank of Nigeria (CBN) brought the banker into the financial institution after it revoked the operating licence of Skye Bank Plc, which was nationalised into Polaris Bank.
When Mr Abiru was appointed as head of the lender, he was given the mandate to transform the company and make it one of the best in the country.
Four years after, Mr Abiru can raise his shoulders high and boast that with the support of the board, management and staff of Polaris Bank, he has done his best, setting a standard for others to follow.
Sharing his scorecard while serving as the CEO of the bank, Mr Abiru, who has served meritoriously in the banking industry for nearly three decades, noted that, “It gives me great pleasure to say that, with the support of the board, executive management and all of you, we have delivered on the mandate given to us by the Central Bank of Nigeria upon assumption of office in 2016.”
Going down memory lane, he reminded staff of the bank’s poor state before he assumed office in 2016 as the Group Managing Director of the erstwhile Skye Bank.
He noted that all prudential ratios were out of compliance with regulatory requirements, the capital was negative, the loan book was mostly delinquent, while liquidity faced deposit attrition.
Furthermore, the IT infrastructure was dilapidated and employee morale was low, resulting in erosion of public confidence.
He praised the staff for working with him to reverse the trend and bring about an institution that has become a compelling case study in corporate turnaround within Nigeria’s financial services industry.
“We have reversed almost all regulatory ratios for good and currently rank amongst the very best in the industry.
“There can be no better testament to the much-improved state of the bank than the full year 2019 results in which the Bank posted Profit After Tax (PAT) of N27 billion.
“To buttress the fact that this is sustainable, the bank’s first-half 2020 result showed a PAT of over N18 billion, despite the tremendous headwinds brought on by the COVID-19 pandemic,” he said.
“We also commenced the refreshment of the bank’s IT infrastructure, which had largely become outdated and dilapidated due to years of under-investment.
“As a result of the successful completion of the first phase of the IT Refresh Program, which consisted mainly of an upgrade of the infrastructure and digital platforms, and relocation of the bank’s data centres to Tier III data locations as mandated by CBN regulations and in line with global best practices, the bank’s customers are now experiencing significantly improved service delivery.
“In addition, by introducing and committing resources to the agency banking model, we have contributed in no small measure to deepening financial inclusion for the unbanked and under-banked throughout the length and breadth of Nigeria,” he added.
He restated that today’s Polaris Bank has been successfully positioned as a bank of choice in Nigeria due to the work that has been put in by the various stakeholders including the loyal customers of the Bank.
On the issue of leadership succession, Mr Abiru said, “During this period leading to my final disengagement, I will work closely with the CBN, the board of directors and executive management of our bank to ensure a seamless transition and smooth handover to my successor.”
Mr Abiru was appointed the Group Managing Director and Chief Executive Officer of the then Skye Bank in July 2016.
Before his appointment, he had served in several capacities in some of the leading banks in Nigeria’s banking industry, including at one time as an Executive Director in First Bank of Nigeria Plc.
He was at various times appointed as Non–Executive Director in some leading companies, including Econet (now Airtel) Mobile Networks Limited, and FBN Capital Limited (now FBN Merchant Bank Limited).
Mr Abiru has also had a brief stint in public service, having served from 2011 to 2013 as the Commissioner for Finance for Lagos State under the administration of Governor Babatunde Fashola (SAN).
Following the establishment of Polaris Bank in September 2018, the CBN affirmed the performance of the bank’s board of directors, and reappointed Mr Abiru to lead the new bank; a position he held until opting for voluntary retirement from the bank.
Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products for individuals and businesses.
Jobs/Appointments
UAC Foods Elevates CFO Temitope Omodele to CEO
By Adedapo Adesanya
Nigerian fast-moving consumer goods (FMCG) powerhouse, UAC Foods Limited, has promoted its Chief Financial Officer, Mrs Temitope Omodele, to the position of chief executive.
The company, a subsidiary of UAC of Nigeria Plc (UACN), officially made the announcement on its official LinkedIn page.
The ex-KPMG executive has a big task ahead of her, particularly with UAC Foods now a N340 billion revenue company buoyed by its recent acquisition of CHI Limited. With the new appointment, the company positions the seasoned finance executive as the driving force to further increase the value of brands like Gala Sausage Roll, Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.
In its announcement, UAC Foods described the appointment as “an exciting new chapter,” affirming that Mrs Omodele will continue to “drive operational excellence, innovation, sustainable growth and long-term
Mrs Omodele began her career at KPMG Professional Services, where she rose through the ranks, from Senior Associate to Senior Manager, providing audit and assurance services across Nigeria’s financial services, FMCG, power and utilities, and energy and natural resources sectors.
Her time at KPMG was marked by an unusual distinction where she was seconded to the Department of Professional Practice at KPMG Inc. South Africa, gaining cross-border exposure to international standards and methodologies.
Following her return to Nigeria, she helped found the Department of Professional Practice for KPMG Professional Services Nigeria.
She joined the UAC of Nigeria Plc group in September 2020, initially as Technical Accounting and Reporting Lead and quickly advanced to Senior Vice President of Finance, with oversight of group-wide finance operations and reporting for the holding company. In this role, she served as a Non-Executive Director on the Board of Livestock Feeds Plc, a fellow UACN subsidiary.
She was then promoted to the role of Chief Financial Officer at UAC Foods Limited, expanding her operating-company exposure particularly around brand strategy, supply chain economics, and P&L accountability.
Mrs Omodele holds a Bachelor of Science in Accounting from the University of Lagos, supplemented by an Executive MBA from Lagos Business School at Pan-Atlantic University. She further completed Executive Education in data analytics and emerging technologies at the W. P. Carey School of Business, Arizona State University.
She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Fellow of the Association of Chartered Certified Accountants (ACCA).
Originally established as the United African Company in 1879, the company has evolved into one of Nigeria’s oldest and firmest companies. The UAC Foods unit was formally constituted in 2010 through a joint venture with Tiger Brands, the South African packaged food giant. In 2021, UACN acquired Tiger Brands’ minority stake, assuming full ownership and with it, full strategic responsibility for the subsidiary’s future.
The company is best known for its flagship Gala Sausage Roll, which has led Nigeria’s sausage roll market for over 60 years, alongside other popular brands including Supreme Ice Cream, Swan Natural Spring Water, and Funtime Chips.
In 2025, UACN’s consolidated revenue surged further to N340.47 billion, bolstered by the landmark acquisition of CHI Limited (the maker of Chivita juice and Hollandia dairy products), though profitability came under pressure from elevated financing costs tied to that acquisition.
Jobs/Appointments
Tinubu Okays Recruitment of 1,000 Forest Guards in Oyo
By Aduragbemi Omiyale
President Bola Tinubu has approved the recruitment of 1,000 forest guards in Oyo State in collaboration with the state government.
This was disclosed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, in a statement on Sunday.
The recruitment follows a visit to Esiele and Yawota communities in Oriire Local Government Area of Oyo State by a high-powered federal government delegation on Sunday, May 31, 2026.
The team, led by the President’s Chief of Staff, Mr Femi Gbajabiamila, was in the local council following the abduction of pupils and teachers from Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School on May 15, 2026.
Residents of the communities were promised the safe return of the victims. They were also informed that their request for the establishment of a military base in the area would be conveyed to the President for consideration and approval.
In addition, Mr Tinubu has directed a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the abducted pupils and teachers.
Mr Gbajabiamila, while addressing residents in both English and Yoruba, said the President’s decision to dispatch the nation’s top security leadership to the affected communities reflected his determination to deploy every available resource towards securing the victims’ release.
“Mr President is deeply troubled by this incident. Whatever it takes, our children and teachers will be brought back home safely. He has issued all necessary directives and is providing every support required by our security agencies to achieve that objective.
“Your pain and anxiety are understood. By the grace of God, your children will return safely to your arms.
“Mr President also saw the appeals from some parents and community members urging caution in the rescue efforts. Let me assure you that the operation will be intelligence-led and carefully coordinated, deploying both kinetic and non-kinetic measures to secure the safe return of the victims,” he said.
The delegation was also at the palace of the Soun of Ogbomoso land, Mr Ghandi Afolabi Olaoye, to commiserate with him and his people. The group also met with the wife of the deceased school teacher, Mrs Mary Oyedokun, and her two children.
Other members of the team were the National Security Adviser, Mr Nuhu Ribadu; the Inspector-General of Police, Mr Tunji Disu; the Minister of Defence, Mr Christopher Musa; and the Special Adviser to the President on Media and Public Communications, Mr Sunday Dare.
Jobs/Appointments
NCC Appoints Funke Opeke, ipNX’s Olusola Teniola to IPv6 Board
By Modupe Gbadeyanka
The duo of Mr Olusola Teniola and Ms Funke Opeke are now on the newly inaugurated Internet Protocol version 6 (IPv6) council board of the Nigerian Communications Commission (NCC).
The team was constituted as part of a broader industry effort to accelerate Nigeria’s transition to IPv6.
It has Mr Muhammed Rudman as Chairman, Mr Chris Uwaje as Vice Chairman, and Ms Mary Uduma, Mr Gbenga Adebayo, Mr Lanre Ajayi, and Mr Latif Ladid as members.
At the inauguration in Ikeja, Lagos, NCC said it created the group as part of its renewed commitment to accelerating Nigeria’s transition to IPv6, a critical enabler of the country’s digital future.
Speaking on his appointment, Mr Teniola, a director at ipNX, expressed appreciation to the NCC for the opportunity to serve and reiterated the importance of collaborative action in driving Nigeria’s digital transformation.
“The transition to IPv6 is no longer a future consideration; it is an immediate priority for Nigeria’s digital economy. As data consumption grows and emerging technologies such as 5G, IoT, and AI become more pervasive, we must ensure that our underlying infrastructure is scalable, secure, and globally competitive,” he said.
He further emphasised that achieving meaningful IPv6 adoption will require strong alignment across stakeholders, including telecom operators, internet service providers, enterprises, academia, and government.
“This is a collective responsibility. We must invest in capacity building, drive awareness, and create the right policy and regulatory environment to accelerate adoption. Nigeria cannot afford to lag in an increasingly connected world,” he added.
The IPv6 Council Board has been tasked with developing and overseeing the implementation of a national IPv6 strategy, monitoring progress, and providing periodic updates on adoption levels across the country.
The team will also play a key role in addressing infrastructure challenges, strengthening technical expertise, and recommending policy incentives to support nationwide deployment.
Mr Teniola’s appointment reflects ipNX’s continued commitment to shaping Nigeria’s digital ecosystem and advancing the development of resilient, future-ready network infrastructure across the country.
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