Stanbic IBTC Rejigs Team to Fortify Market Leadership Position
By Dipo Olowookere
In order to fortify its market leadership position in the financial industry, Stanbic IBTC Holdings Plc has announced the appointments of the Chief Executive Officers (CEOs) and executive directors for its subsidiaries.
The new appointees, who the chief executive of the parent firm, Mr Demola Sogunle, described as highly experienced, diligent and management-savvy, are expected to work to achieve this goal.
“We are delighted to have a pool of highly experienced, diligent and management-savvy individuals at Stanbic IBTC to be entrusted with the responsibilities of driving the next phase of our growth.
“We are certain the group will benefit immensely from their wealth of knowledge and expertise because they understand our processes, values, priorities and growth trajectory, having been intricate parts of the system,” Mr Sogunle said.
According to a statement, the financial institution has appointed, with effect from February 2, 2021, Eric Fajemisin as the Executive Director in charge of Corporate and Transactional Banking, Stanbic IBTC Bank Plc.
He was the CEO of Stanbic IBTC Pension Managers before this appointment and has over 30 years’ financial services experience. He is also a Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation in Nigeria.
Also, the firm has appointed Babatunde Majiyagbe as the CEO of Stanbic IBTC Nominees, a wholly-owned subsidiary of Stanbic IBTC Bank and the first and leading custodial and investor services company in Nigeria for non-pension assets.
In addition, Olumide Oyetan has been made the CEO of Stanbic IBTC Pension Managers. Oyetan has more than 20 years’ experience and has functioned in different roles across the group and Standard Bank.
Furthermore, the company has selected Dare Otitoju as the Executive Director, Investment Management, Stanbic IBTC Pension Managers.
Also, Busola Jejelowo is now the Executive Director, Investments, Stanbic IBTC Asset Management, while Wunmi Ehis-Uzenabor is the new Executive Director, Operations at Stanbic IBTC Asset Management.
Similarly, Emi Agaba-Oloja has been appointed as Executive Director, Stanbic IBTC Trustees and Ibiyemi Mezu as Executive Director, Stanbic IBTC Insurance Brokers.
In the same vein, Akinjide Orimolade was chosen as the CEO of Stanbic IBTC Insurance, while Sakeenat Bakare is now the Executive Director, Business Development at Stanbic IBTC Insurance, with Dunny Semwayo the new Executive Director, Technical, Stanbic IBTC Insurance.
“The appointments are in line with the organisation’s corporate governance structure and succession plan,” the statement from the lender disclosed.
Tinubu Chooses Gbajabiamila as Chief of Staff, Akume as SGF
By Modupe Gbadeyanka
The Speaker of the House of Representatives, Mr Femi Gbajabiamila, has been appointed as the Chief of Staff to President Bola Tinubu.
Mr Gbajabiamila won his re-election into the lower chamber of the National Assembly on February 25, 2023, but with this appointment, he will have to lose his seat in the parliament to coordinate the activities of his new boss.
Also, Mr Tinubu has picked the former Governor of Benue State, Mr George Akume, as the new Secretary to Government of the Federation (SGF).
He is take over from the former occupier of the position, Mr Boss Mustapha, who served under the administration of the immediate past President, Mr Muhammadu Buhari.
Similarly, the former Deputy Governor of Jigawa State, Mr Ibrahim Hassan Hadejia, has been chosen by Mr Tinubu as his Deputy Chief of Staff.
Paxful Announces Roshan Dharia as Interim CEO
By Modupe Gbadeyanka
Mr Roshan Dharia has been appointed as the interim chief executive of Paxful, a leading global peer-to-peer Bitcoin platform.
In a statement issued by the company’s press team, it was disclosed that the appointment of Mr Dharia became effective on Wednesday, May 31, 2023.
Recall that Paxful returned to business some weeks ago after it shut down its operations due to internal issues.
Mr Dharia would be expected to reposition the firm “with the objectives of strengthening operations and exploring strategic alternatives.”
He was most recently a senior executive at TrustToken (now known as Archblock) where he led the DeFi institutional lending business, successfully deploying over $1.5 billion in stablecoin loans to crypto-native companies.
Prior to TrustToken, Roshan founded and built the investment platform PTHL Affiliates, which specialized in the acquisition and turnaround of distressed private companies across multiple industries.
As a seasoned executive, he has held various positions as an investor and investment banker with transactional experience totalling over $30 billion across mergers and acquisitions, financial restructurings, and financings.
The interim CEO, who is highly adept in navigating special situations with complex risk profiles and significant intrinsic value, said he was greatly honoured “to become CEO of Paxful.”
“Over the last eight years, Paxful has been a pioneer in establishing the real use cases of Bitcoin and helping millions of people in the process.
“I look forward to hitting the ground running and building on the innovative technology developed by the Paxful team,” he added.
The Custodian of Paxful, Srinivas Raju, while commenting on the appointment, said, “I’m delighted that Roshan has joined Paxful and will take over day-to-day management of the company. I’m confident under his leadership; the business will keep building a financial system that truly serves the 100 per cent.”
Since its inception in 2015, Paxful has grown to a community of over 12 million users around the world, with billions of dollars traded on the platform over the last eight years.
Abidemi Ademola Leaves Unilever Nigeria Board
By Dipo Olowookere
An Executive Director of Unilever Nigeria Plc, Mrs Abidemi Ademola, has resigned from the board of the conglomerate.
In a notice to the Nigerian Exchange (NGX) Limited on Tuesday, it was disclosed that she would officially exit the board of the organisation on May 31, 2023.
In the statement signed by the Senior Legal Counsel and Company Secretary of Unilever Nigeria, Mrs Afolasade Olowe, the board thanked Mrs Ademola for her service to the firm, wishing her well in her future endeavours.
“This is to notify Nigerian Exchange Limited and the investing public that the Board of Directors of Unilever Nigeria Plc has considered and approved the resignation of Mrs Abidemi Ademola as an Executive Director with effect from May 31, 2023.
The Board of Directors wishes Mrs Ademola all the very best in her future career and would like to express their sincere gratitude to her for the many valuable contributions and legal expertise she brought to the company over a distinguished 27-year career at Unilever.
“Mrs Ademola’s replacement on the Board of Directors of Unilever Nigeria will be announced in due course,” the disclosure said.
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