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Prof Ibiyemi Olatunji-Bello Emerges New LASU VC

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Ibiyemi Olatunji-Bello

By Adedapo Adesanya

Professor Ibiyemi Olatunji-Bello has been appointed as the ninth substantive Vice-Chancellor (VC) of the Lagos State University (LASU), putting an end to the institution’s leadership crisis, which started this year.

Prior to the expiration of Mr Olarewaju Fagbohun, the institution’s eighth VC, whose tenure expired on January 11, the state’s premier university had been in crisis, which spurred Governor Babajide Sanwo-Olu to cancel a previous appointment procedure in response to petitions.

According to an earlier statement, “After a thorough evaluation and investigation of the various complaints, Mr Governor, in his capacity as the Visitor to the university, ordered the cancellation of the process.”

A few months later, the Governor inaugurated a 13-member governing council for LASU, following the report of a special panel constituted to resolve the crisis that was holding the appointment of the varsity’s 9th vice-chancellor.

Now, the appointment of Mrs Olatunji-Bello has heralded a new dawn in the state-owned university.

The new LASU VC attended the University of Ibadan (UI) from 1982 to 1985 where she bagged a BSc in Physiology.

In 1987, she was awarded MSc (Physiology) at the University of Lagos (UNILAG). In 1998, she bagged a PhD in Physiology after a six-month research training at the University of Texas Health Science Center in the US, 1994.

She rose from an assistant lecturer (1988 to 1991), lecturer II (1991 to 1996), lecturer I (1996 to 1999), and senior lecturer (1999 to 2005) to become an associate professor (2005 to 2007) at the College of Medicine in UNILAG.

The academic assumed duty as the first professor of physiology at the LASU College of Medicine in October 2007.

She also held several professional and administrative positions both at UNILAG and LASU. Until her election as the first female deputy vice-chancellor of LASU, she was the first substantive head of the Department of Physiology at LASU.

She is a member of many professional bodies and was the first female second vice president, Physiological Society of Nigeria (PSN), and the first vice president. She is also the first female to hold that position up to the year 2019.

She is married to Mr Tunji Bello, the Lagos State Commissioner for Environment and Water Resources and they have three children.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Finance Minister Suspends Ahmed Idris for Unhindered Investigation

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suspend Ahmed Idris

By Aduragbemi Omiyale

To allow for a “proper and unhindered investigation,” the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has suspended the embattled Accountant General of the Federation (AGF), Mr Ahmed Idris.

Mr Idris was asked to stay from office over his arrest by the Economic and Financial Crimes Commission (EFCC) on Monday for an alleged N80 billion fraud.

In a statement issued on Monday, the EFCC claimed that the AGF failed to honour invitations sent to him to explain what he knows about the matter, prompting his arrest.

According to the agency, Mr Idris committed the alleged act by taking “funds through bogus consultancies and other illegal activities using proxies, family members and close associates.”

“The funds were laundered through real estate investments in Kano and Abuja,” the statement further stated.

The arrest of the nation’s chief accountant has generated reactions from various quarters, prompting the Minister to suspend him on Wednesday.

In a letter confirming the suspension today, the Minister said the AGF is not expected to have any contact official in his office except for any disciplinary hearing that may be advised and will not receive any salary while on suspension.

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Osita Chidoka Leaves Guinea Insurance Board

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Osita Chidoka

By Dipo Olowookere

Former Minister of Aviation, Mr Osita Chidoka, has resigned from the board of Guinea Insurance Plc to concentrate on his private matters.

A statement signed by the company secretary, Ms Chinneye Nwankwo, disclosed that the politician, who was once the Corps Marshal and Chief Executive of the Federal Road Safety Corps (FRSC), served on the board as a non-executive.

During his time on the board, he contributed immensely to the growth of the underwriting company and the team appreciated him for this.

In the notice, Guinea Insurance wished the member of the opposition Peoples Democratic Party (PDP) well in his future endeavours.

“Guinea Insurance Plc wishes to inform the Nigerian Exchange Limited (NGX), its esteemed shareholders and the general public of the resignation of Mr Osita Chidoka from the board of directors of the company.

“The resignation of Mr Chidoka is to enable him more time to pursue his private business. The board recognized his immense contributions, selfless service and commitment to the progress of the company and wished him success in his future endeavours,” the disclosure stated.

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Goyal, Pule Join Advisory Board of Sabi

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Sabi B2B marketplace

By Modupe Gbadeyanka

The founder of Africa Lighthouse Capital, Bame Pule; and the Head of M&A at Udaan, India, Sapna Goyal have been appointed to the advisory board of Sabi, a leading B2B marketplace serving Africa’s informal economy.

The duo will work with the company and bolster its network and knowledge to help improve the infrastructure for informal business.

According to the co-founder/CEO of Sabi, Anu Adasolum, the two highly talented and strategic business leaders will bring fresh insights and perspectives to the board.

“Their expertise and track record in driving value will be critical for Sabi in our quest to serve the informal economy. We look forward to working together as we maintain our exceptional growth,” Adasolum stated.

Bame Pule established an independent Mauritius-based private equity firm founded in 2012 to invest in and nurture businesses into African champions.

The firm has a particular focus on helping investee companies adopt global best practices regardless of sector, attain benchmarks equivalent to those of global peers, and expand into multiple key African markets.

Prior to founding Africa Lighthouse Capital, Mr Pule worked at Actis Capital, ShoreView Capital, Goldman Sachs in New York, Credit Suisse in New York and Salomon Brothers/Citigroup in Los Angeles.

He pursued bachelor’s degrees in Economics and Political Science (double major) from Pomona College in Claremont, California and was awarded the Pomona Scholar prize for superior academic achievement in 1997 and 1999. Mr Pule also pursued a master’s in business administration (MBA) degree from Harvard Business School in Boston, Massachusetts.

On her part, Sapna has investing experience in early and growth stage internet start-ups in India. Before joining udaan, she worked with Goldman Sachs Investment Partners (GSIP) VC & Growth Equity Fund by being responsible for investments in the Indian internet space.

She also has investing experience in Indian Public Markets as part of a hedge fund at GS. She is passionate about the change internet can bring to India and how it is a great leveller. She is an active angel investor.

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