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VFD Group Strengthens Board With Four New Directors

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VFD Group

By Modupe Gbadeyanka

The board of VFD Group Plc has been strengthened with the appointment of four new directors, who are expected to use their wealth of experience to move the company forward.

The Chairman of VFD Group, Mr Olatunde Busari, said he was excited with the “diversity of complementing competencies and functional experience has contributed immensely to our success and with the new directors, we believe they would continue to reiterate this and build our achievements in the years to come.”

On his part, the GMD/CEO of the firm, Mr Nonso Okpala, said the new directors, who have a combined experience of over 50 years across several fields including telecommunications, engineering, risk, and financial services, “have made remarkable careers and run successful businesses and the addition of such combination of experience to an already robust board will have an even more profound immediate effect on our deliberations and businesses.”

Business Post gathered that appointed were Folajimi Adeleye as Executive Director in charge of Finance, John Okonkwo as Executive Director and Chief Operating Officer, while the duo of Kelvin Orogun and Femi Akinware joined the board as non-executive directors.

Folajimi Adeleye joined VFD Group in 2018 as Group Financial Controller before his appointment as Executive Director. He is an Economics major and has experience spanning over 12 years across banks, primary mortgage institutions, asset management, pension fund administrators and not-for-profit organizations. Prior to joining VFD Group Plc, Folajimi had worked at One Finance and Investments Limited (now Carbon) and KPMG.

Before the new appointment, John Okonkwo was the Chief Financial Officer at Heirs Holdings Limited and was previously the Head of Business Assurance & Compliance in the same company. Prior to joining Heirs Holdings Limited in June 2012, he was a Manager in the Internal Audit, Risk & Compliance Services division of KPMG. John is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and has many years of experience in Finance, Audit, Risk Management, Sustainability Services and Corporate Governance Services.

Kelvin Orogun runs Cashpot, a money remittance company in London and Lagos, which he set up after a career in banking and other financial services in Nigeria. He is a Computer Science graduate with an MBA from Cass Business School – City University London and is also a Non-Executive Director at Anchoria Asset Management limited.

Femi Akinware brings on board 24 years of accomplished leadership in telecoms. He holds an MBA and BSC in Electronics and Computer Engineering and has spent 15 years working on mergers and acquisitions, asset building, corporate development, business re-engineering, IT Consultancy, and business start-ups.  Mr Akinwale is currently the CEO of COMENERGY.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Joseph-Amedu Heads National Blood Service Commission

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National Blood Service Commission

By Adedapo Adesanya

The Federal Government of Nigeria has established the National Blood Service Commission (NBSC) to replace the National Blood Transfusion Service (NBTS) to coordinate, regulate and ensure the provision of safe, quality blood transfusion services.

This information was contained in a statement issued by Mr Abdullahi Haruna, the commission’s Head of Media and Publicity over the weekend in Abuja.

He explained that the NBTS was formerly a unit under the Department of Hospital Services in the Federal Ministry of Health, which was passed by the National Assembly and assented to by President Muhammadu Buhari.

According to him, Dr Omale Joseph-Amedu, the National Coordinator, would serve as the Acting Director-General of the agency in line with the provisions of the Act establishing the organisation.

“[The] commission has the statutory mandate to coordinate, regulate and ensure the provision of safe, quality blood transfusion services on a country-wide basis within the national health plan.

“Therefore, the commission is legally mandated to ensure proper compliance with the National Blood Service Guidelines and standards.

“It will also maintain a system of quality assurance at all levels of service, encourage research in all aspects of blood transfusion services and promote the rational use of blood, blood products and alternatives to blood where appropriate.

“The commission which takes effect immediately as National Blood Service Commission (NBSC) has communicated that its new name and status more aptly reflects the mandate of ensuring the availability of safe, quality and adequate blood services to all Nigerians,” the statement added.

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NDLEA Boosts Anti-Drug Fight with Fresh Narcotic Assistants

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Narcotic Assistants

By Adedapo Adesanya

The National Drug Law Enforcement Agency (NDLEA) has strengthened the war against drug abuse and trafficking with the addition of hundreds of newly trained narcotic assistants to the workforce of the agency.

This was disclosed by the Chairman/Chief Executive of the NDLEA, Mr Buba Marwa, on Saturday at the passing out parade and closing ceremony of the training of Narcotic Assistants Course 3 at the NDLEA Academy, Kotton Rikus in Jos, Plateau State.

“Today’s ceremony signposts yet another of the agency’s efforts towards the War Against Drug Abuse (WADA) campaign, and the total eradication of illicit drugs and their effects in Nigeria,” said Mr Marwa who was represented by the agency’s Secretary, Mr Shadrach Haruna.

“In particular, this training and passing out ceremony aligns with my vision of a well-motivated, visible, and proactive workforce that is service-ready to meet the dreams and aspirations of the founding fathers of the agency and that of the nation in general,” he added.

Stating that Narcotic Assistants Course 3 of 2021 is the largest of the cadre and the first-ever course in over 25 years, Mr Marwa explained that the process leading to the training started in 2019 but was put on hold because of the COVID-19 pandemic.

He stressed that the agency has lived up to its mandate and the accompanying challenges in the past eight months, and challenged the new narcotic assistants to join their colleagues already in the field across Nigeria fighting the drug war.

“The training has prepared you physically, mentally, and psychologically for the demanding tasks ahead. You must, henceforth, keep in mind that you are on national assignment in the fight against the drug pandemic,” Mr Marwa stated.

“You are going to be assaulted and tempted psychologically and physically, subtly and brashly by merchants of this nefarious trade; you will be offered money and other forms of gratification, but I call on you all to cultivate the will, guts, and coping skills required to reject these temptations and allow for effective discharge of your duties,” he further said.

The ceremony, which was concluded with the presentation of awards to the best performing cadets in eight different categories, was well attended by officials of other government agencies, as well as lawmakers and traditional rulers, among others.

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20% of Full-Time Workers in Nigeria Lost Jobs in 2020—Report

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full-time workers

By Adedapo Adesanya

A new report has disclosed that at least 20 per cent of full-time workers in Nigeria lost employment during the COVID-19 pandemic in 2020.

The report tagged The Impact of COVID-19 on Business Enterprises in Nigeria was jointly released by the United Nations Development Programme (UNDP) and the National Bureau of Statistics (NBS) on Tuesday.

Sampling 3,000 businesses via in-depth interviews across both formal and informal sectors in major industries of the economy, the report assessed the impact of COVID-19 on business enterprises in the country.

“While there have been promising signs of recovery this year, COVID-19 has had an outsized socio-economic impact on Nigeria,” it said.

“From disruptions in supply chains to ongoing supply and demand shocks and a drop in consumer confidence, these challenges are expected to leave a lasting impact on the businesses and enterprises that make up the backbone of the economy,” it added.

The report also highlighted the significant decline in revenue faced by enterprises and establishments across the country due to the pandemic.

It indicated that 81 per cent of enterprises interviewed, experienced a decline in revenue and 73 per cent stated that they faced liquidity challenges due to secondary impacts of the pandemic in 2020.

Data from the report showed that the median loss in revenue remained at 44 per cent, in comparison to 2019 revenues while about 60 per cent of enterprises surveyed experienced an increase in operational costs, with the price of raw materials and logistics being the top two contributors to the increase.

Other operational challenges included access to credit and capital, high expenditure on utilities, and inadequate social safety net, especially for informal enterprises.

In addition, the report revealed that one in three business enterprises surveyed indicated that some businesses have permanently closed due to operational challenges resulting from the pandemic.

According to the report, businesses are likely to continue experiencing the impact of the pandemic even after the easing of public health measures.

Despite reduced restrictions at the time of the interviews, 74 per cent of enterprises still reported a decrease in production levels when compared to the same time in 2019.

In his remarks, the new Statistician-General of the Federation and Head of the NBS, Mr Simon Harry, highlighted the importance of the survey results.

“As the economy begins to show signs of gradual growth, this report contains important information that can guide policymakers in their interventions to mitigate the negative socioeconomic impacts of COVID-19 in the country,” he said

“I wish to thank UNDP for collaborating with the National Bureau of Statistics on this important report and I urge other development partners to emulate this worthy endeavour by partnering with the Bureau in matters relating to data generation in the country.

“Although the report findings highlight the complex challenges the economy continues to face because of COVID-19, it also tells a powerful story of innovation, resilience, and strength as Nigerian businesses leverage their ingenuity to adjust to this new normal,” he added.

On his part, UNDP Resident Representative, Mr Mohamed Yahya said, “As Nigeria mobilises to recover from the devastating health and socio-economic impact of the pandemic, this report will be a critical tool in informing targeted policymaking and programme interventions for both medium and long-term planning as the country rebuilds.”

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