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Stanbic IBTC Announces Board Shakeup, Expects Fresh Ideas

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Stanbic IBTC Yinka Sanni Euromoney Awards

By Modupe Gbadeyanka

One of the leading financial powerhouses in Nigeria, Stanbic IBTC Holdings Plc, a member of Standard Bank Group, has announced changes to its board of directors.

The company, in a statement on Monday, explained that the move was part of its effort to consolidate on its impressive financial performances and market leadership across the financial services spectrum.

The firm stressed that the appointments are expected to bring fresh thinking and ideas as well as energy into the group’s operations, stating that those chosen cut across the Stanbic IBTC Group, including Stanbic IBTC Bank, Stanbic IBTC Asset Management Limited, Stanbic IBTC Pension Managers Limited, and Stanbic IBTC Insurance Brokers Limited.

According to the statement, Mr Adekunle Adedeji has been promoted to the position of executive director at Stanbic IBTC Holdings Plc with effect from February 22, 2019.

It was disclosed that Mr Adedeji, who has over 20 years’ experience, is also Stanbic IBTC Group’s Chief Financial Officer.

He had a similar experience with Stanbic Ghana and has worked with Ernst & Young, belonging to several professional institutes, including the Institute of Chartered Accountants of Nigeria (ICAN).

Also appointed by the company is Mr Barend Johannes Kruger, who is now a non-executive director for Stanbic IBTC Bank effective from May 20, 2019, following the receipt of all required regulatory approvals.

Mr Kruger had previously been appointed to the board of Stanbic IBTC Holdings Plc in January 2019 and will now serve on both the Holding Company and the bank boards as a non-executive director.

Mr Kruger is a chartered accountant with over 30 years’ experience in the financial services industry.

Another person appointed to the board of the bank, following regulatory approvals, was Ms Rabi Isma as an independent non-executive director, effective from May 9, 2019.

Ms Isma has extensive experience in the telecoms industry with 9Mobile and Etisalat Sri Lanka. She has previous worked for the British Council in Nigeria and served as special adviser to the  governor  of Kano State.

Ms Isma has multiple certifications and has attended several executive programmes, both at the Harvard and Michigan Ross Business Schools, United States of America.

Also appointed is Mrs Bunmi Dayo-Olagunju as an Executive Director in charge of Operations for Stanbic IBTC Bank.

Prior to this, Mrs Dayo-Olagunju was Deputy Head of Operations and also previously served as Chief Executive of Stanbic IBTC Asset Management Limited, the group’s asset management subsidiary.

She has over 20 years of hands-on experience in the financial services industry having worked in different capacities across the subsidiaries of Stanbic IBTC Group.

Similarly, Mr Dele Sotubo replaced Mrs Dayo-Olagunju as Chief Executive of Stanbic IBTC Asset Management Limited effective February 12, 2019; Mr Olumide Oyetan was appointed Executive Director, Investments, Stanbic IBTC Pension Managers Limited with effect from March 1, 2019;  Mr  Charles Emelue was appointed Executive Director, Operations, Stanbic IBTC Pension Managers Limited on April 1, 2019 while Ms Sakeenat Bakare was appointed Executive Director for Stanbic IBTC  Insurance  Brokers  Limited, effective February 26, 2019.

The statement described the appointed persons as highly qualified and experienced to deliver results in their new roles.

Chief Executive of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, while commenting on the appointments,  said, “We are pleased to entrust these individuals with new responsibilities and look forward to benefiting immensely from their wealth of knowledge and experience as we enter the next phase of our growth.

“In filling these roles, we identified our priorities and these individuals fit into our growth objectives.”

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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Tinubu Appoints Tunji Disu as Acting Inspector General of Police

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Tunji Disu

By Modupe Gbadeyanka

President Bola Tinubu on Tuesday appointed Mr Tunji Disu as the acting Inspector General of Police (IGP), following the resignation of Mr Kayode Egbetokun.

Mr Disu, an Assistant Inspector General of Police (AIG), was recently moved to the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos.

A statement today by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the President would convene a meeting of the Nigeria Police Council shortly to formally consider the appointment of Mr Disu as substantive IGP, after which his name will be transmitted to the Senate for confirmation.

Mr Tinubu expressed confidence that Mr Disu’s experience, operational depth, and demonstrated leadership capacity would provide steady and focused direction for the Nigeria Police Force during this critical period.

He reiterated his administration’s unwavering commitment to enhancing national security, strengthening institutional capacity, and ensuring that the Nigeria Police Force remains professional, accountable, and fully equipped to discharge its constitutional responsibilities.

Mr Egbetokun was said to have resigned from the position due to pressing family considerations.

President Tinubu, who accepted the resignation letter, expressed his profound appreciation for Mr Egbetokun’s decades of distinguished service to the Nigeria Police Force and the nation. He acknowledged his dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure.

Appointed in June 2023, Mr Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act.

The statement disclosed that his replacement was in view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance.

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Tunji Disu to Become New IGP as Egbetokun Quits

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tunji disu new IGP

By Adedapo Adesanya

Mr Tunji Disu, an Assistant Inspector General of Police (AIG), has reportedly replaced Mr Kayode Egbetokun as the new Inspector General of Police (IGP).

Mr Egbetokun resigned from the position on Tuesday after he was said to have held a meeting with President Bola Tinubu on Monday night at the Presidential Villa in Abuja.

President Tinubu appointed Mr Egebtokun as the 22nd IGP on June 19, 2023, with his appointment confirmed by the Nigeria Police Council on October 31, 2023.

Appointed as IGP at the age of 58, Mr Egbetokun was due for retirement on September 4, 2024, upon reaching the mandatory age of 60, but his tenure was extended by the President, creating controversies, which trailed him until his exit from the force today.

Although the police authorities are yet to comment on the matter or issue an official statement about his resignation, the move came amid reports suggesting that Mr Egbetokun has left the position.

Mr Egbetokun’s tenure was marred by a series of controversies; he recently initiated multiple charges against activist Mr Omoyele Sowore and his publication, SaharaReporters, after Mr Sowore publicly described him as an “illegal IGP.”

The dispute escalated into protracted legal battles, with the Federal High Court issuing injunctions restricting further publications relating to the former police chief and members of his family. Critics interpreted these court actions as attempts to stifle dissent and weaken press freedom.

His replacement, Mr Disu, was posted to oversee the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, some days ago.

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NIMASA Gets New Maritime Guard Commander

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Maritime Guard Commander

By Modupe Gbadeyanka

A new Commander of the Maritime Guard Command has been appointed for the Nigerian Maritime Administration and Safety Agency (NIMASA), and he is Commodore Reginald Odeodi Adoki.

His appointment was approved by the Chief of the Naval Staff, Vice Admiral Idi Abbas, a statement from NIMASA confirmed.

He was chosen to replace Commodore H.C Oriekeze, who has been redeployed by naval authorities.

Commodore Adoki, a principal Warfare Officer specialising in communication and intelligence, brings 25 years of experience in the Nigerian Navy covering training, staff and operations.

As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada. It was under his command that NNS Kada undertook her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.

He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics. He has since earned a Master’s in International Law and Diplomacy from the University of Lagos and an MSc in Terrorism, Security and Policing atthe  University of Leicester, England.

He is currently pursuing a PhD in Defence and Security Studies at the National Defence Academy (NDA). He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the agency, the Director General of NIMASA, Mr Dayo Mobereola, expressed confidence in Mr Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA in strengthening operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

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