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Renaissance Capital Appoints Akinpelu as Vice President

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By Dipo Olowookere

Mr Adedapo Akinpelu has been appointed by Renaissance Capital, as its Vice President in charge of Investment Banking.

Mr Akinpelu will be working in close collaboration with Renaissance Capital’s well-grounded investment banking team across the continent and wider EMEA.

Renaissance Capital is a leading emerging and frontier markets investment bank.

Mr Akinpelu has over eight years’ combined experience, offering investment, equity capital-raising and mergers & acquisitions advisory services to businesses.

Before joining Renaissance Capital, the new Vice President had worked with QG Investment Africa Management and was responsible for the origination and execution of private equity (direct) investments, covering Healthcare & General Industries Investments across Sub-Saharan Africa.

He also worked at Standard Chartered Bank for over six years, where he focused on equity capital raising and mergers & acquisitions in the FMCG, Agriculture, Healthcare, Telecoms, Industrials and Oil & Gas space in Africa.

He holds a degree in Accounting from the University of Lagos and has been a member of the Association of Chartered Certified Accountants (ACCA) since 2008 and a Chartered Financial Analyst (CFA) charter holder since 2011.

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 dipo.olowookere@businesspost.ng

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Jobs/Appointments

Tinubu Okays Nasir Naeem Abdulsalam as Ajaokuta Steel MD

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Nasir Naeem Abdulsalam

By Modupe Gbadeyanka

President Bola Tinubu has appointed Mr Nasir Naeem Abdulsalam as the Managing Director of the Ajaokuta Steel Company, Kogi State.

A statement from Mr Segun Imohiosen, the Director of Information and Public Relations on behalf of the Secretary to the Government of the Federation (SGF), Mr George Akume, disclosed the appointment took effect from Thursday, April 3, 2025, and is in accordance with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008 as amended.

Mr Abdulsalam, according to statement, has been tasked by Mr Tinubu to leverage his wealth of experience in the steel industry in his new assignment in revolutionising the company to generate important upstream and downstream industrial and economic activities that will position the nation as the industrial hub of Africa in line with the diversification drive of the Renewed Hope Agenda.

Until his appointment, the appointee served as the Technical Adviser to the Minister of Steel Development, Mr Dele Alake, as well as the Special Assistant on Academics to Director General of the National Institute for Legislative and Democratic Studies (NILDS), Professor Abubakar Sulaiman.

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Ayo Sotinrin Takes Over as Bank of Agriculture MD

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ayo sotinrin SAO Group Bank of Agriculture

By Aduragbemi Omiyale

The chief executive of SAO Group, Mr Ayo Sotirin, has been appointed by President Bola Tinubu as the Managing Director of the Bank of Agriculture (BoA).

A statement from the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the appointment is with immediate effect.

In the notice released on Friday, Mr Onanuga said the new BoA chief brings a diverse and extensive background in the private and public sectors to his new role.

He disclosed that Mr Sotinrin’s appointment aligns with the strategy of the administration of Presient Tinubu to revitalise Nigeria’s agricultural sector.

“Mr Sotinrin’s proven ability to mobilise capital, innovate in agribusiness, and collaborate across sectors will be instrumental in repositioning the Bank of Agriculture as a catalyst for food security, sovereignty and rural prosperity,” Mr Tinubu was quoted to have said.

While at SAO Group, an agribusiness company, the appointee’s leadership was marked by groundbreaking agricultural initiatives, including developing a 20,000-hectare oil palm plantation and large-scale poultry, aquaculture, maize, and cassava operations in Ondo State.

He also led SAO Capital, raising over $750 million in infrastructure and development finance, including the landmark $200 million Akure Water Supply Project.

In the public sector, he served as Special Adviser on Environment and Urban Development to the Minister of State FCT from 2011 to 2015.

He had consulted extensively for global development partners such as the World Bank, AfDB, DFID, and USAID and played key advisory roles on federal and state-level projects. His international background includes roles at the Royal Bank of Scotland International, Deutsche Bank, and the UK Environment Agency.

Mr Sotinrin holds an Executive MBA from Said Business School, Oxford University; an Advanced Diploma in Environmental Conservation; and a Master’s in Engineering Business Management from Warwick University.

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Shettima’s Political Adviser Hakeem Baba-Ahmed Resigns

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Hakeem Baba-Ahmed

By Aduragbemi Omiyale

The Special Adviser the Vice-President, Mr Kashim Shettima, on Political Matters, Mr Hakeem Baba-Ahmed, has resigned.

The elder brother to the Vice Presidential candidate of the Labour Party (LP) in the 2023 general elections, Mr Datti Baba-Ahmed, resigned from his position amid growing political tensions with the Minister of State for Defence, Mr Bello Matawalle.

The two personalities have been at loggerheads over political situation in the country, especially as regards the northern part of the country.

Before joining the government of President Bola Tinubu in 2023, the older Baba-Ahmed was the spokesman of the Northern Elders Forum (NEF).

About 12 months ago, Mr Matawalle described NEF as a “political paperweight” for claiming that the northern region regretted voting for Mr Tinubu in the 2023 presidential election.

In his reaction, Mr Baba-Ahmed asked Mr Matawalle to inform the world how he and other northern appointees have been productive rather than attacking the NEF.

Not happy with this, the Minister said it was the duty of all appointees, including Baba-Ahmed, to defend and promote the administration they served.

He emphasized that the role of northern appointees was to support President Tinubu’s government and advance its objectives, or consider stepping down if they could not align with the administration.

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