Jobs/Appointments
Venture Capital Leader Kola Aina Joins EFInA Board
By Adedapo Adesanya
Enhancing Financial Innovation and Access (EFInA) Limited has announced the appointment of the founding partner and General Partner of Ventures Platform, an African seed-stage venture capital firm, Mr Kola Aina, to its board of directors.
EFInA, a financial sector development organisation, is funded by the Bill and Melinda Gates Foundation to promote financial inclusion in Nigeria, with the vision of becoming the leader in facilitating an all-inclusive, growth-promoting financial system.
Mr Aina has played a core role in advancing financial inclusion across Nigeria and Africa through his venture capital firm’s investments in fintech companies, such as PiggyVest, which have provided financial services to over 5 million underserved individuals, contributing to a 13.5 per cent increase in financial inclusion in Nigeria, a statement said.
He will join other distinguished EFInA board members, including Dr Agnes Olatokunbo Martins, former Director at the Central Bank of Nigeria; Mr Olu Akanmu, former President and Co-CEO of OPay-Nigeria; Professor Janice Olawoye, Professor of Rural Sociology, University of Ibadan; and Mrs Saude Amina Atoyebi, former Deputy Chief of Staff (Administration) in Kaduna State Government.
In addition to financial inclusion, Mr Aina and his team at Ventures Platform foster entrepreneurship, create jobs, optimise supply chains, and empower founders to develop market-creating innovations that address Africa’s complex challenges while accelerating digital transformation across the continent’s startup ecosystem.
Speaking on the new addition, Dr Martins, the Chairman of the Board, said that Mr Aina’s venture capital firm – Ventures Platform strategically invests in fintech innovations that can deepen financial inclusion across the continent and his appointment to the board is a pleasant and strategically beneficial decision that the African financial sector will forever be grateful for.”
“We are delighted to welcome Kola Aina to the EFInA Board. Kola has been a pivotal figure in the African tech ecosystem, funding financial innovations that align with our mission to promote income growth for the bottom 40 per cent of the population and foster social and economic inclusion, as outlined in SDG 10 on Reducing Inequalities. Kola’s experience in entrepreneurship, mentorship, and backing fintech giants that have significantly improved financial inclusion will be invaluable as we strive to create a more inclusive financial sector,” she added.
On his part, Mr Aina said, “I am thrilled to join the EFInA board. EFInA is a critical market enabler that has been a key driver of financial inclusion and a champion of the unbanked. The organisation’s reports and research have been credible sources of information for key stakeholders of the economy, and I’m proud to be part of a gathering of intellectuals who are committed to steering the nation’s approach to financial inclusion in the right direction.
“I look forward to working closely with my fellow board members and contributing to the achievement of our goal in Nigeria and across Africa. I remain committed to our collective ambition of promoting an inclusive financial sector that serves the excluded and underserved in Africa.”
A significant portion of Mr Aina’s venture fund (37.5 per cent) is currently dedicated to fintech companies, aiming to increase access to financial services, credit, and digital banking solutions for underserved populations.
Through these investments, Mr Aina and his team at Ventures Platform are bridging the financial inclusion gap and reducing inequalities, the statement added.
Portfolio companies like PiggyVest, Moni, Traction App, and Shekel Mobility, currently backed by Ventures Platform, serve over 4.5 million users, providing increased access to savings accounts, capital, credit histories, and financial management tools primarily for underserved, unbanked, and underbanked individuals and entrepreneurs across Africa.
Jobs/Appointments
CBN Denies Forceful Mass Retirement Amid Restructuring
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.
Jobs/Appointments
CBN Okays Appointment of Benson Ogundeji as 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.
Jobs/Appointments
WTO General Council Reappoints Ngozi Okonjo-Iweala as DG
By Adedapo Adesanya
The General Council of the World Trade Organisation (WTO) has reappointed its Director-General, Mrs Ngozi Okonjo-Iweala, for a second term, effective September 1, 2025.
On October 8, the WTO formally commenced the process for appointing its next Director-General, with members given until the 8th of November to submit nominations.
She was elected unopposed after no candidates stepped forward for the position of Director-General had emerged by the nomination deadline, other than the incumbent Director-General.
DG Okonjo-Iweala’s current term comes to an end on August 31, 2025.
She first assumed office as Director-General on March 1 2021, becoming the first woman and first African to lead the WTO.
Her reappointment comes after a special formal meeting of the General Council which started on Thursday, November 28 and culminated on Friday.
The first day of the General Council meeting saw members hear a presentation from Mrs Okonjo-Iweala on her vision for the WTO, followed by a question-and-answer session.
The second day then provided an opportunity for members to decide on the appointment of the next Director-General, to which they gave the Nigerian former finance minister another four years at the helm of affairs.
Speaking on her achievement, the Chairman of the trade body’s council, Ambassador Petter Ølberg of Norway praised her achievements, stating: “The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization.
“Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.”
“As we look ahead, the Council fully supports Dr Okonjo-Iweala’s commitment to ensuring that the WTO remains responsive, inclusive, and results-driven. Her leadership will be critical as the organization continues to advance a resilient, rules-based, and equitable global trading system.”
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