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Sulaiman Adedokun to Lead Meristem as Wole Abegunde Retires

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Wole Abegunde

By Dipo Olowookere

A leadership change has occurred at one of the leading investment firms in Nigeria, Meristem Securities Limited, with the Group Managing Director, Mr Wole Abegunde, leaving the position.

Mr Abegunde is retiring from active service in the company on December 31, 2024, after attaining the age of 60 on September 22, 2024.

In a note to clients of Meristem, he announced his deputy, Mr Sulaiman Adedokun, as his successor, describing him as a trusted member of the team.

According to him, Mr Adedokun, who has almost two decades of experience in the financial services sector, will continue to fly the flag higher.

“I write to you today with a deep sense of gratitude and reflection. Over the last 20 years, I have had the honour of leading Meristem Securities Limited through times of change, challenges, and achievements. Our unwavering mission to help you grow and preserve your wealth remains stronger than ever.

“Building a resilient and enduring institution means planning for a future that transcends any one individual. Just as we advise our clients to plan for the future, we must embody these same principles on our journey to a lasting legacy.

“Having turned 60 on September 22, 2024, and attaining the official retirement age in Meristem, it is with great confidence that I announce my retirement as Group Managing Director, effective December 31, 2024.

“It is also with immense pride that I announce Sulaiman Adedokun, the current Deputy Managing Director, a trusted and respected leader with almost 20 years of dedicated service at Meristem, as my successor.

“Be assured that under Sulaiman’s leadership, Meristem will continue to prioritise your financial well-being, while also delivering the level of service and expertise you have come to expect. I remain a shareholder and strategic partner, providing support to Sulaimon and the leadership team.

“Whilst thanking you for the privilege of being a part of your financial journey, I am excited to witness the next phase of Meristem’s evolution, confident that it will be as committed to your success as ever,” the message sighted by Business Post said.

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 [email protected]

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Tinubu Appoints Ogunjumi Acting Accountant General as Madein Retires

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Shamseldeen Babatunde Ogunjimi

By Adedapo Adesanya

President Bola Tinubu has appointed Mr Shamseldeen Babatunde Ogunjimi as the Acting Accountant General of the Federation (AGF).

This was contained in a statement on Tuesday by presidential spokesman, Mr Bayo Onanuga.

“His appointment is effective immediately following the pre-retirement leave of the incumbent AGF, Mrs Oluwatoyin Sakirat Madein,” a part of the statement read.

“In announcing Madein’s successor, President Tinubu ensures a seamless transition in the administration of Nigeria’s treasury and consolidates the implementation of the present administration’s treasury policy reforms,” the statement added.

Mr Onanuga said Mr Ogunjimi brings over 30 years of extensive experience in financial management across the public and private sectors.

He described the appointee as a career civil servant and the most senior director in the Office of the Accountant General of the Federation (OAGF),

“He has held significant positions, including Director of Funds at the OAGF and Director of Finance and Accounts at the Ministry of Foreign Affairs.

“A chartered accountant, certified fraud examiner, chartered stockbroker, and chartered security and investment specialist, Mr Ogunjimi’s academic qualifications include a Bachelor of Science (BSc) in Accountancy and a Master’s in Finance and Accounting,” the statement added.

According to Mr Onanuga, President Tinubu expressed his confidence in his appointment, saying, “The Office of the Accountant General of the Federation is pivotal to our nation’s treasury management operations. Mr Ogunjimi’s wealth of experience and notable competence will ensure the continued effectiveness of this vital institution as we advance our economic reform agenda.”

President Tinubu also commended the outgoing Accountant General of the Federation, Mrs Madein, for her dedication and selfless service to the nation.

After reaching the civil service’s statutory retirement age, Mrs Madein is retiring effective March 7, 2025.

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CBN Denies Forceful Mass Retirement Amid Restructuring

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CBN IMTOs

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirement as part of efforts by Governor Yemi Cardoso to restructure the workforce of the organisation.

In a statement released on Wednesday, the Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff.

According to the statement, the decision to implement the exercise was the outcome of extensive consultations with the bank’s Joint Consultative Council (JCC), a body representing staff interests.

Mrs Sidi Ali explained that the EEP, a longstanding policy previously accorded to the executive cadre, has now been made available to eligible staff at all levels.

“For some time, staff representatives through the JCC had called on management to approve the early exit package for all cadres. Following these discussions, management decided to meet this popular demand,” she said in the statement.

Addressing concerns about potential repercussions for staff who decline the package, Mrs Sidi Ali reaffirmed management’s commitment to supporting employees’ professional growth and well-being, describing the concerns as unfounded.

She further emphasized that the initiative is an internal corporate matter designed to promote career development for staff.

According to wide spread reports, there have been plans to retire approximately 1,000 employees by the end of the year with a payoff estimated to cost over N50 billion.

The mass retirement, which was announced in a circular issued three weeks ago, mandates affected employees to apply for the Early Exit Package (EEP).

The statement allegedly warned employees with less than one year of service or unconfirmed appointments to refrain from applying for the program, noting that the application would remain open until December 7, with an effective exit date of December 31, 2024.

It was reported that the entire EEP was valued at N50 billion.

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CBN Okays Appointment of Benson Ogundeji as Greenwich Merchant Bank CEO

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Benson Ogundeji Greenwich Merchant Bank CEO

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) has approved the appointment of Mr Benson Ogundeji as the chief executive of Greenwich Merchant Bank Limited.

The board of the financial institution for businesses had picked Mr Ogundeji as its substantive CEO but awaited the authorisation of the banking sector regulator.

He brings over three decades of extensive banking experience to this role as a seasoned financial services professional, who previously served as Executive Director at Greenwich Merchant Bank from July 2020, where he played a pivotal role in the bank’s successful transition from the legacy Greenwich Trust Limited to a merchant bank.

In this capacity, he provided oversight for Corporate Banking, Treasury and Global Markets.

Throughout his career, Mr Ogundeji has demonstrated exceptional expertise in business development and operational excellence.

Before joining the firm, he held various senior leadership roles at prominent financial institutions, including Ecobank Nigeria, GTBank, and other notable banks, where he consistently displayed exceptional leadership skills.

His appointment comes at a crucial time as Greenwich Merchant Bank commences the next phase of its growth plans. Having related closely with the new CEO, as an Executive Director and acting CEO in the last four years, the board has expressed confidence about his ability to lead the bank in delivering our strategic goals.

“The board is pleased to announce the appointment of Benson Ogundeji as our Managing Director/Chief Executive Officer,” the chairman of Greenwich Merchant Bank, Mr Kayode Falowo, stated.

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