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Two Directors Quit Wapic Insurance Board

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wapic insurance

By Dipo Olowookere

Two non-executive directors on the board of one of the leading underwriting companies in Nigeria, Wapic Insurance Plc, have left.

The two directors are Mr Bababode Osunkoya and Mrs Ifeyinwa Osime and the development was confirmed in a notice to the Nigerian Stock Exchange (NSE) on Friday.

The insurer explained that the two members of the board resigned their appointments from the organisation to enable them to focus on their new roles.

Recently, Mr Osunkoya was appointed as the new Chairman of Wapic Life Assurance Limited, while Mrs Osime was put on the same company’s board as an independent non-executive director.

“Wapic Insurance Plc hereby informs the Nigerian Stock Exchange (NSE) and the investing public of the resignation of Mr Bababode Osunkoya and Mrs Ifeyinwa Osime from the board of the company effective August 18, 2020.

“Mr Bababode Osunkoya was recently appointed as the Chairman board of directors of Wapic Life Assurance Limited where Mrs Ifeyinwa Osinme also serves as an independent non-executive director.

“These resignations are to enable both Mr Bababode Osunkoya and Mrs Ifeyinwa Osime adequately focus on their roles on the board of directors of Wapic Life Assurance Limited,” the statement signed by Ms Mary Agha, the company secretary, said.

In the disclosure, Wapic Insurance thanked the duo for their contributions to the growth of the company since they joined the board over six years ago.

“The board of directors and management of Wapic Insurance Plc express their appreciation to Mr Bababode Osunkoya and Mrs Ifeyinwa Osime for the invaluable commitment, experience and insight which they brought to the board deliberations,” the notice said.

While Mr Osunkoya was appointed to the board of Wapic Insurance Plc on January 1, 2013, and Mrs Osime joined on April 30, 2014, and according to the firm, they both “made strong contributions to the company in its strategic planning and growth.”

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

Odenigbo Succeeds Morgan as Nigerian Breweries Corporate Affairs Director

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Uzodinma Odenigbo Nigerian Breweries

By Aduragbemi Omiyale

A new Corporate Affairs Director has been appointed by Nigerian Breweries Plc and he is Mr Uzodinma Odenigbo, who succeeds Ms Sade Morgan, elevated to a global role as Heineken’s Corporate Affairs Director for Africa and the Middle East.

A statement from the leading brewer disclosed that Mr Odenigbo would assume the new role from Thursday, May 1, 2025.

The new image-maker of Nigerian Breweries boasts an MBA and a PhD in Mass Communications with a passion for building emotional connections, discovering new frontiers and leading an active lifestyle.

Since joining the firm in 2017, Mr Odenigbo has been responsible for Public, External and Government Affairs, first as Public Affairs Manager for the South of Nigeria. He has subsequently led the critical public affairs agenda pan-Nigeria while also providing strategic direction for the Regional Corporate Affairs Managers.

Significantly, he delivered a comprehensive stakeholder engagement and communications framework as part of the project team for implementation of the 2024 Nigerian Breweries business recovery plan, achieving zero business disruption and negative media coverage amongst other critical outcomes.

As part of his personal development plan, he was in July 2024 selected for an important Short Term Assignment (STA) as Corporate Affairs Director, Brarudi, where he joined the local Management Team.

Between July 2024 and March 2025, he successfully led the Corporate Affairs agenda for Brarudi, driving the launch of a reputation campaign anchored on sustainability, elevated internal communications with positive impact on climate scores, championed the Optimal Business Climate agenda with concrete results on export, local sourcing and the ongoing advocacy to avoid negative excise impacts from tax harmonization in the EAC region.

Over the period in Burundi, he further enhanced the CA team capabilities and operationalized the 2025 CA playbook to position the team to meet critical deliverables even after his return to Nigeria.

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MTN Nigeria Appoints Egerton Idehen Chief Broadband Officer

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Egerton Idehen

By Aduragbemi Omiyale

MTN Nigeria now has a new Chief Broadband Officer (CBBO) and he is Mr Egerton Idehen, who joined the organisation in 2002 as a Call Centre Agent.

The leading technology company disclosed in a statement that the appointment of Mr Idehen is effective April 2025.

The appointee holds an MBA from Nanyang Technological University, Singapore, and a Postgraduate Certificate in Business Administration from the University of Leicester, UK. He is currently pursuing a Doctorate in Business Administration (DBA) in Spain.

His executive training includes advanced programs at UC Berkeley, Wharton School, and Georgetown University, which have equipped him with cutting-edge insights in leadership, finance, and public policy.

Commenting on the development, the chief executive of MTN Nigeria, Mr Karl Toriola, said, “Our vision at MTN is to always prioritize our customers.

“Egerton has been instrumental in our customer-centric approach to service delivery. He is exceptionally qualified for the role as we aim to expand our fibre penetration in Nigeria, ensuring superior connectivity for our customers.

“I am confident that MTN will benefit immensely from his extensive experience, his proven track record in developing successful strategies, and his ability to drive business growth and create value.”

After joining the firm in 2002, Mr Idehen quickly advanced to Call Centre Manager. He has held various pivotal roles, including Customer Relationship Manager for the High Value Segment, Regional Head and Senior Manager of Customer Care, Senior Manager of Consumer Billing, Credit, and Digital Support, and General Manager of Customer Operations.

Through his foresight and expertise in scaling operational efficiency, Mr Idehen expanded MTN’s service agent workforce from 1,000 to over 10,000 in just two years. This expansion ensured seamless support for over 70 million customers through the pioneering Service Everywhere initiative.

During his tenure as High Value Segment Manager, he increased MTN’s premium customer portfolio by 3 per cent, reduced churn by 5 per cent, and met call centre performance targets with 80 per cent service levels and 90 per cent answer rates, all while keeping agent attrition below 4 per cent.

His innovative approach also led to a 50 per cent improvement in service levels and a 15 per cent reduction in operational costs by strategically outsourcing 1,500 call centre seats and 5,000 agents.

Mr Idehen has been a pioneer in digital transformation within the Customer Relations and Experience function, increasing digital customer interactions from under 5 per cent to 64 per cent and launching Africa’s first fully digital telco retail store.

He also spearheaded the design and launch of MTN’s flagship airport lounge, widely regarded as Nigeria’s finest, significantly enhancing the brand experience for high-value customers and reinforcing MTN’s premium positioning. He has received several accolades, including the Best Team Manager Award and recognition for Customer Service Excellence.

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World Bank Appoints Dangote to Private Sector Investment Lab

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Aliko Dangote Private Sector Investment Lab

By Modupe Gbadeyanka

The World Bank Group has appointed a Nigerian businessman, Mr Aliko Dangote, to its elite group, the Private Sector Investment Lab, tasking him to drive investment and job creations in emerging economies.

The World Bank announced Mr Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

With this appointment, Mr Dangote has joined a select group of global business leaders, which include the chief executive of Bayer AG, Mr Bill Anderson; the chairman of Bharti Enterprises, Mr Sunil Bharti Mittal; and the chief executive of Hyatt Hotels Corporation, Mr Mark Hoplamazian.

In his acceptance of the honour bestowed on him, the African industrialist reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, noting the transformative potential of such initiatives in developing markets.

“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies.

 “This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies.

“Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions,” Mr Dangote stated.

The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies—supporting its sharpened focus on job creation as a central pillar of global development.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.

“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate,” the president of the World Bank Group, Mr Ajay Banga, stated.

Mr Dangote established the largest conglomerate in West Africa, the Dangote Group, with interests spanning cement, fertiliser, salt, sugar, and oil.

The organisation employs over 30,000 people and is the largest taxpayer in Nigeria—contributing more in taxes than all of Nigeria’s banks combined. It is also the country’s largest employer after the government.

The $20 billion Dangote Petroleum Refinery & Petrochemicals, the group’s flagship project, stands as the largest single private investment in Africa.

In addition to his business interests, Mr Dangote leads the Aliko Dangote Foundation (ADF), the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The foundation primarily focuses on child nutrition, while also supporting interventions in health, education, empowerment, and disaster relief.

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