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Wema Bank Appoints Moruf Oseni New MD/CEO as Ademola Adebise Retires

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Wema Bank Moruf Oseni

By Aduragbemi Omiyale

The Deputy Managing Director/Chief Executive Officer of Wema Bank Plc, Mr Moruf Oseni, has been elevated to the position of the MD/CEO following the retirement of Mr Ademola Adebise.

In a statement on Friday, the bank said Mr Adebise will retire from his current position on March 31, 2023. However, he will be proceeding on terminal leave from January 2, 2023.

The outgoing MD/CEO of Wema Bank joined the board of the financial institution over 13 years ago. He took over the helms of affairs in June 2018 from Mr Segun Oloketuyi.

Under his leadership, Mr Adebise has expanded the lender’s footprints to other locations in Nigeria, improving the performance of the bank and spearheading the first dividend payment in 13 years.

Since then, he has ensured consistent dividend payments over the last four years, with the organisation growing its total assets by 155 per cent from N470 billion to over N1.2 trillion and deposits growing by 214 per cent from N350 billion to N1.1 trillion.

He initiated the partnership with the Bank of Africa to support its customers across the African continent, which has increased the bank’s market share and customer base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3 per cent of industry volumes.

Wema Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. Its rating by agencies was upgraded to BBB investment grade.

Further, the bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came top in the KPMG Digital Scorecard for leading retail banks in Nigeria, and this was based on in-depth insights into the state of user experience on retail banks’ digital channels.

In addition, the bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. Wema Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.

The Chairman of the board, Mr Babatunde Kasali, in a statement, thanked Mr Adebise on behalf of the board and management for his service and wished him the best in his future endeavours.

Meanwhile, the appointment of Mr Oseni as the MD/CEO of Wema Bank is subject to the approval of the Central Bank of Nigeria (CBN).

Mr Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience, with more than 16 years at senior and executive management levels. The banker was an executive director for six years and DMD for the last four years and has demonstrated the capacity to lead the bank.

He presently has responsibility for the Digital Optimization Directorate, which includes the Digital, Retail, Treasury, Operations, and Technology Divisions.

Mr Oseni is also the Executive Compliance Officer of the bank and supervised the launch of ALAT.

Before joining Wema Bank, he was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, he was a Vice President at Renaissance Capital and an Associate at Salomon Brothers/Citigroup Global Markets in London.

The new MD/CEO holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.

Also, Wema Bank has appointed Mr Wole Akinleye as the new DMD. He has over 32 years of banking experience and presently oversees Corporate Banking and South West Business Directorate for the company.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and, subsequently, a master’s degree in Business Administration (Finance) from the same University.

Further, Wema Bank has appointed Mr Tunde Mabawonku as an executive director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services.

He has a master’s in finance from the London Business School and a first degree in Economics from the University of Ibadan. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and an honorary member of the Chartered Institute of Bankers (HCIB).

These appointments, according to the financial institution, take effect from April 1, 2023, and are subject to the approval of the CBN and other regulatory authorities.

Jobs/Appointments

Abiola Bawuah Emerges First Female UBA Africa CEO

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Abiola Bawuah

By Aduragbemi Omiyale

A Ghanaian national, Mrs Abiola Bawuah, has been appointed as the first female chief executive for UBA Africa, a statement from the financial institution has said.

With her appointment, she joins the group board as an executive director, overseeing the organisation’s operations across the African continent, outside Nigeria.

According to the disclosure from the lender, the appointment of Mrs Buwuah demonstrates its commitment to diversity, bringing the total number of female directors in the UBA Group Board to eight.

Prior to her appointment, Mrs Bawuah was Regional CEO of West Africa, supervising the group’s operations in nine subsidiaries, including Benin, Burkina Faso, Cote d’Ivoire, Ghana, Guinea, Liberia, Mali, Senegal, and Sierra Leone. She previously held the role of the CEO of UBA Ghana.

“Abiola has contributed significantly to the growth of UBA Africa for close to a decade. She brings a wealth of experience in commercial banking and stakeholder engagement.

“It also gives me great pleasure that with her appointment, the UBA Group Board has now become a majority female board,” the Group Board Chairman of UBA Plc, Mr Tony Elumelu, said.

Also, UBA Group has appointed Mr Chris Ofikulu as the Regional CEO of UBA West Africa. The appointee has over two decades of banking experience spanning corporate, commercial, and retail banking.

In addition, Mr Uzoechina Molokwu will take on the role of Deputy Managing Director (DMD) of UBA Ghana, subject to local regulatory approvals. He was previously the Executive Director for Business Development at UBA Côte d’Ivoire and has over 23 years of banking experience.

Further, Mr Ayokunle Olajubu has been asked to take charge of UBA Liberia, subject to local regulatory approvals. He currently drives compliance across African subsidiaries and comes with 30 years of banking experience in Nigeria and other African countries, including Sierra Leone, Cote D’Ivoire and the Gambia.

In the statement, UBA disclosed that Ms Theresa Henshaw has been appointed as CEO of UBA UK, subject to local regulatory approvals. She was previously the DMD, Business Development, UBA America and joined the Group as ED, Business Development at UBA UK.

Similarly, Mr Usman Isiaka, currently the CEO of UBA Sierra Leone, will be the Deputy CEO of UBA America, subject to local regulatory approvals, while Mr Adeyemi Adeleke, the former CEO of UBA UK, is now the Group Treasurer. He will be working to unlock the immense value in the Group’s multi-jurisdictional balance sheet, leveraging on its presence in 24 countries within and beyond Africa.

Meanwhile, UBA has announced the retirement of Mr Samuel Oni, an independent non-executive Director, from the board following the expiration of his tenure.

He joined the UBA Group in January 2015 and served on the board of the group for eight years.

In the statement, Mr Elumelu thanked him for his commitment, leadership and extensive contributions to the UBA Group, wishing him the best in all his future endeavours.

UBA operates in 19 African countries beyond Nigeria, in addition to global operations in New York, London, Paris and the UAE. The company provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

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How to Improve the Efficacy of Your Remote Workforce

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remote workforce

With the increasing prevalence of remote work, companies are looking for ways to make the most of their remote workforce and maximize its efficacy. As such, businesses must understand how to improve the performance of their remote teams and find effective strategies to ensure successful outcomes.

1. Effective Communication

Clear and consistent employee voice needs to be included in improving the efficacy of a remote workforce. Employers should incorporate feedback from their employees, such as through hosting employee surveys or questionnaires, to get an idea of what is working, what could use some improvement, and how they can make the remote working experience better for everyone.

It is standard employee input that will help to eliminate any potential issues before they arise. Additionally, employers should aim to foster a sense of community amongst their team members by organizing virtual meetings or check-ins where issues can be openly discussed and reliably addressed. This fosters meaningful communication between teammates and encourages creative ideas that benefit the team.

2. Appropriate Training

Another way to enhance the performance of your remote workforce is by providing appropriate training and development opportunities. Companies should ensure that all remote workers have access to the same educational materials they would receive if they worked in an office environment.

By giving employees access to online classes or webinars, businesses can ensure that their employees are up-to-date with the latest advancements in their field. Companies should also consider offering incentives or rewards when goals are met to give staff an extra incentive for performing better than expected.

3. Creating a Sense of Community

Something else employers should focus on when trying to improve the efficacy of their remote workforce is creating a sense of community amongst team members. Although this may be harder due to the physical distance between members, there are still plenty of ways for organizations to foster workplace friendships and build trust within teams – holding virtual happy hours or game nights are just some examples of what can be done remotely. Regular catch-ups allow team members to get comfortable with one another, encouraging collaboration and creativity when working together on projects.

4. Track Employee Progress

In addition, employers should consider taking measures that keep track of employee progress so they can more accurately measure performance levels among individuals regularly. Utilizing time-tracking apps or automated attendance reports are just some solutions businesses can implement which help them identify any potential issues early on with greater accuracy. Setting clear objectives and measurable outcomes also provides teams with something tangible they can aim toward while helping managers identify areas where additional support is required.

5. Keep Morale High

Employers must keep morale high amongst their remote staff by recognizing successes often while acknowledging challenges they face along the way – big and small wins! Showing appreciation through compliments or praise goes a long way towards making staff feel appreciated even though they might not physically be present every day like those who work out of an office environment would be.

Employers can also create awards programs that recognize outstanding performances throughout different departments or particular milestones achieved by individuals. These initiatives not only help boost morale but can also act as motivation for others striving towards achieving similar feats within the company too!

6. Access to All the Appropriate Tools

Finally, ensure your remote workers have access to all the tools to do their job effectively and efficiently. This means having a reliable internet connection and up-to-date hardware such as computers or laptops. Investing in cloud storage solutions such as Dropbox or Google Drive can enable collaboration among team members worldwide.

Furthermore, if certain applications or software programs are required for certain tasks, make sure those are readily available for your employees so that there won’t be any unnecessary delays or roadblocks along the way.

Conclusion

Improving efficiencies amongst your remote workforce requires careful consideration from both employer and employee alike – it’s crucial for companies who wish for success out of this venture! With technology growing ever more advanced every day now more than ever before, there exists plenty of solutions available that facilitate better communication and collaboration amongst teams no matter where each member may reside geographically. Taking advantage of such advances will go far towards helping organizations reach greater heights quicker than they thought possible beforehand.

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JTI Nigeria Remains Top Employer for 4th Consecutive Year

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Top Employer in Nigeria JTI Nigeria

By Aduragbemi Omiyale

For the fourth consecutive year, the Nigerian subsidiary of Japan Tobacco International (JTI), Habanera Limited, has been recognised as a Top Employer, while the parent firm retained its position for the 9th consecutive year.

This latest certification recognises the excellent working condition provided at the organisation as excelling in each of the assessment categories, which included outstanding HR policies and practices, employee well-being, diversity and inclusion and exceptional learning and development opportunities.

Speaking on this year’s recognition as a Top Employer in Nigeria, the General Manager of JTI’s entity in Nigeria, Mr Thomas Adams, said, “We are extremely delighted to be recertified by Top Employer Institute as a Top Employer both in Nigeria and globally. This award is a confirmation of the efficiency of our people policies, which continue to create an optimal environment for our talents to grow, thrive and fulfil their potential.”

Mr Adams further stated that, “At JTI, investment in our people is at the heart of everything we do. From the provision of equal opportunities, an open environment, and development programmes to general employee well-being initiatives, we continue to offer the right resources for our people to attain their personal and career aspirations.

“This latest award will push us to continue prioritising our people by keeping them safe, engaged and inspired towards ensuring JTI remains a great place to work for our valued talents and an attractive destination for future talents.”

The Top Employer certification is awarded by the Top Employers Institute, which conducts an annual international audit of leading employers around the world.

The research firm assesses participating companies in nine key areas: talent strategy, workforce planning, on-boarding, learning and development, performance management, and leadership development.

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