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Stanbic IBTC Expresses Confidence in New Director Barend Kruger

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stanbic ibtc bank

By Dipo Olowookere

The board of directors of Stanbic IBTC Holdings Plc has expressed hopes that Mr appointment of Mr Barend Johannes Kruger as a non-executive director of the company will bring about a positive turnaround.

Mr Kruger was admitted to the board of Stanbic IBTC after receiving the “required regulatory approvals,” the firm said in a statement last week.

It was disclosed that the appointment became effective from Friday, January 18, 2019.

In the statement signed by Chidi Okezie, the Company Secretary, the board said it was “pleased to welcome Mr Kruger,” who it said the company “will undoubtedly benefit immensely from his wealth of experience.”

This is because Mr Kruger has had an extensive career in the financial services industry spanning over 30 years.

He joined the Standard Bank Group (SBG) in 1985, taking up various roles in Standard Corporate and Merchant Bank (SCMB).

Between 2006 and 2008, he held the position of Chief Executive of Global Corporate & Investment Banking (CIB) and assumed the position of Deputy Group Chief Executive of SBG in 2009.

From March 2013 to September 2017, Mr Kruger was Joint Group Chief Executive of SBG alongside Mr Sim Tshabalala. 

He recently retired as an Executive Director on the Boards of SBG and Standard Bank of South Africa on December 31, 2018.

Prior to his retirement, he was responsible for the leadership, management and governance of Africa Regions; guiding the digitization of the group; the group’s relationship with its strategic partner ICBC; helping with the management of the Group’s risks; and key client relationships.

Mr Kruger is an alumnus of the University of Pretoria where he obtained a Bachelor of Commerce (Honours) degree. He has undertaken the Harvard Business School, Boston, Advanced Management Programme and is also a Chartered Accountant.

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

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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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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