Jobs/Appointments
Tether Makes Management Changes to Drive Full Audit, Transparency Focus
By Adedapo Adesanya
Tether, the pioneer of the stablecoin industry and issuer of USD₮, has announced the appointment of Mr Simon McWilliams as Chief Financial Officer (CFO) as the company takes a historic step toward a full financial audit.
The latest move will also see Mr Giancarlo Devasini, the visionary behind USD₮, transition from CFO to Chairman of the Group.
Mr McWilliams, a seasoned finance executive with over 20 years of experience leading large investment management firms through rigorous audits, will spearhead Tether’s further commitment to transparency and regulatory readiness.
With the appointment of Mr McWilliams, Tether is making a firm commitment to completing a full audit, a crucial step in raising industry standards and strengthening regulatory engagement.
Tether has already set the benchmark for stablecoin transparency through quarterly attestations with BDO, the top five leading global independent accounting firm, a full audit will ensure greater financial integrity and verification of reserves.
The audit is a crucial step in Tether’s broader strategy to expand across the institutional financial system. Over the past several months, Tether has been preparing for these moves, underscoring its commitment to transparency and regulatory engagement.
As part of its global expansion, the company recently relocated to El Salvador after securing a Digital Asset Service Provider (DASP) license.
“These developments reinforce Tether’s operational foundation and position it for future growth. As policymakers and institutions assess the evolving role of stablecoins, Tether is positioning itself as a trusted partner in strengthening the global reach of the U.S. dollar,” it said it a statement shared with Business Post on Monday.
Speaking on the latest move, Mr Paolo Ardoino, CEO of Tether, said, “Simon’s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency.
“With his leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement.”
For Mr Devasini, in his new role, he will focus on macroeconomic strategy, guiding Tether as it continues to support the US financial system while advancing digital asset adoption globally.
“We are profoundly grateful for Giancarlo’s unwavering dedication, groundbreaking innovation, and inspiring leadership,” said Mr Ardoino. “His visionary approach has been pivotal in shaping Tether into the industry leader it is today. As he steps into his new role as Chairman, we are confident that his strategic insight will continue to drive the company’s long-term vision and success.”
Tether, founded in 2014, is the company that created stablecoin technology, which now powers a $220 billion industry and is of strategic interest to several institutions and governments, including the US.
Tether is now the 18th largest holder of US government debt, with over $113 billion in US Treasury holdings, it has surpassed major economies such as Germany and the United Arab Emirates (UAE).
By Aduragbemi Omiyale
A Senior Advocate of Nigeria (SAN), Mr Anthony Ikemefuna Idigbe, has been appointed to the board of PZ Cussons Nigeria Plc as an independent non-executive director.
A regulatory notice to the Nigerian Exchange (NGX) Limited by the company disclosed that the appointment of Mr Idigbe took effect from Thursday, March 27, 2025.
However, this appointment, according to the statement signed by the company secretary, ALSEC Nominees Limited, is subject to ratification at the next Annual General Meeting (AGM) of the organisation.
The appointee, a Senior Partner at PUNUKA Attorneys and Solicitors, has over 40 years of experience in corporate governance, insolvency, business restructuring, arbitration, dispute resolution, privatization, capital markets, mergers and acquisitions, and oil and gas.
The graduate of Law from the University of Ife in 1982, was elevated to SAN in July 2000.
He is a member of the Board of Directors (Trustees) of the Canadian Association of Nigerian Lawyers (CANL); Chairman of the Board of Trustees of Dominican University, Ibadan; Fellow of the Institute of Directors Nigeria (IOD), INSOL International, the Chartered Institute of Arbitrators, London, the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) and the International Bar Association (IBA).
In addition, he is a member of the Association of International Energy Negotiators (AIEN), London Court of International Arbitration (LCIA); Lagos Court of Arbitration (LCA), International Chamber of Commerce, Nigeria (ICCN), American Bankruptcy Institute (ABI) and International Insolvency Institute (III).
Mr Idigbe chaired Capital Hotel Plc from 2017 to 2022 and currently chairs Ikeja Hotel Plc and The Tourist Company of Nigeria Plc, all listed on the NGX, until two were delisted, according to business strategy.
He is a director of Royal Exchange Plc, listed on NGX and chaired the Statutory Audit Committee of Seplat Energy Plc from 2015 to 2023, which is listed on NGX and the London Stock Exchange (LSE).
The new board member was elected the President of the Asaba Chambers of Commerce, Industry, Mines and Agriculture (ASACCIMA) in 2022, and President of the Delta Association of Chambers of Commerce, Industry, Mines and Agriculture (DACCIMA) on 12 December 2022.
He was appointed the National Legal Adviser for the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) in May 2023.
He established the Capital Market Solicitors Association (CMSA) and chaired the 2017 Nigeria Bar Association (NBA) Legal Profession Regulation Review Committee, which reviewed the regulation of the legal profession in Nigeria.
In 2013, he was appointed the National Coordinator for Nigeria, World Bank Global Forum of Law, Justice, and Development Project on Treatment of Shareholders’ Rights in Insolvency of Companies (2013 to 2014); and in 2012 a Member of the Petroleum Revenue Special Task Force set up by President Goodluck Jonathan.
In addition, he chaired the Technical Drafting Committee for the Bill that became the Investment and Securities Act 2007. He recently chaired the review committee for the same law, resulting in the Investment and Securities Bill now Act. As a consultant to the Bureau of Public Enterprises, he and the now Hon Justice Nnamdi Dimgba drafted the Federal Competition and Consumer Protection Commission Bill now Act relating to anti-trust and competition law in Nigeria.
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.
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.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN