Jobs/Appointments
Workers Jubilate as Buhari Sacks Investment Tribunal Chairman
By Dipo Olowookere
The removal of Mr Isiah Idoko-Akoh as Chairman of Investment and Securities Tribunal (IST) by President Muhammadu Buhari has been applauded by members of the Amalgamated Union of Public Corporations Civil Service Technical and Recreational Services Employees (AUPCTRE), an affiliate of the Nigerian Labour Congress (NLC).
The sacking of Mr Idoko-Akoh was announced by Permanent Secretary in the Federal Ministry of Finance, Mr Mahmoud Isa-Dutse, who also said the President has approved the appointment of a full-time member of the tribunal, Mr J. I. Udunni, as the new chairman.
The union, at a joint press conference on Friday in Abuja, said President Buhari did well by removing Mr Idoko-Akoh from the position, saying it was long overdue.
According to Chairman of the Abuja chapter of AUPCTRE, Comrade Aliyu Maradun, the former IST Chairman vehemently opposed the progress and actualization of the mandate given by President Mohammed Buhari, on tribunal and its workers.
He said the union engaged the former Chairman at different fora with a view to avoid the tribunal from losing its competence and capability in adjudicating over millions of investors’ cases, as his integrity was in doubt, but nothing came of out the talks.
According to him, “The struggle led to three picketing at the IST premises in order to draw government attention and relevant stake-holders.”
He further said, “It is very unfortunate that the Chairman unilaterally handled IST as if it is his own personal private property without recourse to Civil/Public Service Rules and Constitution of Federal Republic of Nigeria.
“The struggle for emancipation of worker and revival of IST became pertinent, when the union discovered that the tribunal is on the verge of being collapsed by the former Chairman due to his high-handedness, maladministration and high level of corruption in which the union petitioned ICPC, EFCC and Presidential Initiative on Continuous Audit (PICA) for investigation and prosecution.”
Mr Maradun also thanked the Minister of Labour, Employment and Productivity, Mr Chris Ngige; Minister of Finance, Mrs Zainab Ahmed; Attorney General and Minister of Justice, Mr Abubakar Malami, and the securities agencies for acting accordingly to save the IST from collapse.
He assured that, “AUPCTRE would always remain committed to the anti-corruption war of President Buhari and the struggle for the betterment of members who are workers in various institutions of government.”
By Aduragbemi Omiyale
Mr Abimbola Oguntunde has been appointed as the new chairman of Sovereign Trust Insurance (STI) Plc.
He was chosen to chair the insurance company at the meeting of the board held on Friday, June 13, 2025, a statement from the firm to the Nigerian Exchange (NGX) Limited, disclosed.
It was revealed that until his appointment, Mr Oguntunde was a non-executive director of the underwriting organisation.
The new chairman is an experienced banker, economist and certified project manager with more than 30 years of experience in the banking industry, managament consulting and the international public sector. He has held top management positions in lkeading financial institutions like UBA, Sterling Bank and Access Bank.
Mr Oguntunde studied Economics at the University of Lagos and graduated with First Class honours and subsequently acquired a Master’s degree in Economics from the same institution. He also holds an MBA in International Banking and Finance with distinction from the University of Birmingham, UK.
The appointee has worked with Sovereign Trust Insurance in specific areas of capital raising, business transformation and reorganisation.
He is the Managing Partner of Devtage Consulting and the chief executive of Devtage Group, a global management consulting, technology, corporate training and development firm.
By Aduragbemi Omiyale
The Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Olufemi Soneye, has resigned from his position, days after he was named Spokesperson of the Year in 2025 by the Nigerian Institute of Public Relations (NIPR),
In a Facebook post on Saturday, the media practitioner thanked his colleagues for the support he received from them since he took the job as the spokesman of the state-owned oil agency almost two years ago, when he replaced Mr Garba Muhammad.
He said it was an honour to serve as the image maker of the NNPC, noting that his decision to step “aside from my role as Chief Corporate Communications Officer of NNPC Ltd” was to “allow me to devote more time to my family and attend to personal responsibilities that now require my closer presence.”
“It has been a profound honour to serve both the company and our country and to contribute in my own way to the ongoing transformation of NNPC Ltd.
“I am deeply grateful for the trust reposed in me, the opportunities granted, and the incredible professionals both within and outside the organisation with whom I have worked.
“I remain a steadfast supporter and ambassador of NNPC Ltd wherever I go. I enjoin you, dear colleagues, to continue your robust, balanced, and constructive reportage to support the company’s noble mission and strategic role in Nigeria’s energy future. With sincere appreciation,” Mr Soneye said in his post.
By Aduragbemi Omiyale
The board of UPDC Plc has settled for Mr Francis Akinyemi Falola as the new Chief Financial Officer (CFO) of the company with effect from June 16, 2025.
His appointment followed the resignation of the former occupier of the position, Mr Grant Akata, a statement filed to the Nigerian Exchange (NGX) Limited on Friday said.
Mr Falola, a graduate of the Olabisi Onabanjo University (formerly known as Ogun State University), possesses extensive experience in financial reporting and tax, treasury management, credit control, financial reviews, financial analysis, auditing, accounting and budgeting.
He started his career with Phoenix of Nigeria Assurance Plc and later joined Custodian and Allied Insurance Limited where he worked in different roles, including Head of Credit Control and Debt Management and Head of Finance and Account.
The new CFO of UPDC is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with over two decades working experience in Finance and Accounting roles.
After obtaining a bachelor’s degree in Accounting, he proceeded to the Lagos State University for a Master of Business Administration (MBA). He also completed a Senior Management Programme from the Lagos Business School (LBS).
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