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

By Adedapo Adesanya  President Bola Tinubu has approved the appointment of 12 persons to serve in the Federal Civil Service Commission (FCSC) to be led by Mr Tunji Olaopa as Chairman. According to a statement by President Tinubu’s spokesperson, Mr Ajuri Ngelale, on Friday, the appointment of the members into the commission is subject to the confirmation of the Nigerian Senate. He said that upon confirmation, the new FCSC leadership is expected to commence work with effect from November 30, 2023, following the expiration of the tenure of the current Federal Civil Service Commission Chairman and membership on November 29,

By Adedapo Adesanya President Bola Tinubu has approved the appointment of three new Executive Commissioners to serve in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). He also approved the redeployment of one current Executive Commissioner along with these three personnel who will take up their duties after their confirmation by the Nigerian Senate. The new executives are: Mr Bashir Indabawa — North West — Executive Commissioner, Exploration & Acreage Management Mr Kelechi Ofoegbu — South East — Executive Commissioner, Corporate Services & Administration (Redeployed) Mr Enorense Amadasu — south south — Executive Commissioner, Development & Production Mr Babajide Fasina —

By Modupe Gbadeyanka Mr Olasupo Olusi has been appointed by President Bola Tinubu as the new Managing Director and Chief Executive Officer of the Bank of Industry (BoI). He is to replace the former occupier of the seat, Mr Kayode Pitan, who resigned from the lending institution for small and medium-sized business owners in the country. In a statement issued by his aide on Media and Publicity, Mr Ajuri Ngelale, the President tasked the new BOI chief executive to ensure that Nigerians, who are operating all sizes of enterprises across sectors, are given fair and equitable access to much-needed support

By Aduragbemi Omiyale Two new independent non-executive directors have been appointed to the board of a sector-agnostic proprietary investment company, VFD Group Plc. The firm, which publicly trades its stocks on the Nigerian Exchange (NGX) Limited, confirmed this development in a statement. The appointees joining the board comprising highly respected professionals are Ms Rashida Saleh and Ms Nneka Okekearu. The statement disclosed that the appointments became effective on Wednesday, October 25, 2023, though subject to shareholder approval at the next Annual General Meeting (AGM) of the organisation. VFD Group, which said the addition of the duo underscores its commitment to

By Modupe Gbadeyanka World’s largest beverage company, Coca-Cola, today announced that its Board of Directors has approved unanimously the recommendation of Chairman and Chief Executive Officer Muhtar Kent for an evolution of the company’s senior leadership structure. Under the new structure, company veteran James Quincey, President and Chief Operating Officer, will succeed Kent as CEO, effective May 1, 2017. Kent will continue as Chairman of the Board of Directors. The Board intends to nominate Quincey to stand for election as a director at the 2017 Annual Shareowners Meeting in April. “Managing The Coca-Cola Company to ensure our long-term growth requires

By Dipo Olowookere Transactions at the Nigerian stock market ended on Friday on a positive note with investors smiling with N180.8 billion gain at the close of trading activities. Unlike yesterday, when the All-Share Index (ASI) went down by 1.56 percent, it rose today by 1.32 percent after gaining 502.38 points to close at 38,436.08 points. The market capitalisation on Friday appreciated by N181 billion to settle at N13.678 trillion, while the Year-to-Date (YtD) return closed at 43.02 percent. Business Post reports that the volume and value of equities transacted today recorded significant rise with investors trading a total of

By Nneka Okumazie The suddenness of things that happen in this world that the mind cannot understand or that knowledge cannot explain is a constant reminder of much – beyond the known, or seen. The edge that every life is, remains disregarded until something goes wrong. The roles of caution and safety are indispensable, but sometimes limited, in the moment of tragedy. It is often like time should reverse or the move shouldn’t have been made. The feeling of powerlessness overtakes – with hard pain and unbearable grief. There are questions, and there’s anger. There is the reasoning of the

By Ahmed Rahma To tackle food insecurity in the state, the Nasarawa State government has donated 400 hectares of farmland to the United Nations Development Programme (UNDP) for agricultural purposes. The Special Adviser to the Governor on Non-governmental organisations and Development Partners, Ms Munirat Abdullahion, handed over the land to the implementing partners at the project sites in Awe and Keana Local Government Areas of the state. According to her, 300 farmers each from Jangwa, Ribi, Giza and Kadarko in Awe and Keana Local Government Areas have been selected and are currently undergoing training in the modern methods of animal

By Dipo Olowookere The stock market in Nigeria recorded a week-on-week decline of 2.56 per cent as investors’ appetite waned, with traders preferring to watch if prices will further crash before taking a buying decision. This low investor confidence depleted the All-Share Index (ASI) to 37,658.26 points from 38,648.91 points and deflated the market capitalisation to N19.627 trillion from N20.143 trillion. Last week, which had a five-day trading session, only 1.0 billion shares worth N10.3 billion were traded in 17,165 deals in contrast to the 981.2 million shares valued at N10.4 billion traded in 15,001 deals in the preceding week

By Dipo Olowookere Group CEO of First City Monument Bank (FCMB) Plc, Mr Ladi Balogun, has disclosed that the financial powerhouse hopes to grow its loan by 5 to 10 percent in the 2019 fiscal year. Mr Balogun made this disclosure on Tuesday during the company’s FY 2018 analyst call in Lagos, which was monitored by Business Post. According to him, apart from the 5-10 percent loan growth the bank is targeting in 2019, the lender hopes to see its fees and commissions record strong growth in the year. He further stated that FCMB is anticipating a 20 percent rise

By Ebitonye Akpodigha Former spokesman to the immediate past President Goodluck Jonathan, Mr Reuben Abati, has been apprehended by the Economic and Financial Crimes Commission (EFCC). Mr Abati, a journalist, was arrested by the anti-graft agency on Monday. He is being questioned over his alleged role in the embezzlement of over $2.1 billion meant for the purchase of arms to fight terrorism in the north eastern part of Nigeria by the last administration. Mr Abati was accused of receiving part of the said money from former National Security Adviser (NSA), Mr Sambo Dasuki, who is now being tried by the

By Modupe Gbadeyanka FBN Capital Limited, the Investment Banking and Asset Management subsidiary of FBN Holdings Plc, will hold its Annual Investors’ Conference on Thursday, October 27, 2016, at the Eko Hotels & Suites, Victoria Island, Lagos. Key government functionaries, business leaders and senior executives in both the public and private sectors of the economy will be at the event. The conference, our correspondent gathered, is a combination of presentations and interactive sessions. FBN Capital Limited, it was further learnt, put up this programme in line with its commitment to provide a platform that will facilitate interaction for identifying sustainable