₦airaland Forum

The 2020 edition of Africa CEO Forum comes up in Abidjan, Cote d’Ivoire from March 9 to 10, with national telecommunication company, Globacom, partnering the organizers, Jeune Afrique Media Group and Rainbow Unlimited, to package the 8th edition of the forum. The annual event is gathering of the continent’s top business leaders.

Themed: “Capitalism for the many, a new horizon for the African private sector” the conference has Globacom as its officially accredited Diamond Partner.

Globacom which is sponsoring the forum for the second year running expressed its delight to join the gathering of executives and investors, heads of governments, Chief Executive Officers (CEOs), international investors, experts and high-level policy makers to brainstorm on ways of mobilising African businesses to champion private sector-led growth on the continent.

The company is equally optimistic that its partnership with Jeune Afrique Media Group on the 2020 edition would provide the platform for participants to work out modalities towards improving intra-African trade and investments, thus boosting the continent’s economic potentials.

Speaking on the 2020 edition, organisers of the forum, Jeune Afrique Media Group, stated that “1,800 business leaders, heads of government and policy makers will gather to rethink the role of African capitalism in this age of digital disruption with its attendant economic and political uncertainties”.

It added that “The Forum will encourage debate and address tough questions such as: How far should African companies focus their strategy on reducing inequalities, combating climate change, training and creating decent jobs for the continent’s youth? How can such goals be balanced with the challenges of international competition and fast-changing trading alliances? What resources and intelligence do companies and their leaders need to navigate the accelerating technological and social changes that are revolutionising the business landscape?”

Over 800 chief executives of multinational companies and 1,800 participants from 70 countries attended the 2019 edition of Africa CEO Forum which was held in Kigali, Rwanda.

An FCT High Court in Jabi, Abuja has suspended Adams Oshiomhole as the national chairman of the All Progressives Congress (APC).

Justice Danlami Senchi, on Tuesday, ordered Oshiomhole to step down pending the determination of the substantive suit seeking his perpetual removal as the APC chairman.

More detail soon…

Today, one of the fastest growing financial service providers in Nigeria, Heritage Bank Plc, is celebrating 7 years of its existence.

Established with an excellent service culture hinged on partnering with customer to create wealth, the lender has continued to provide seamless banking experience, accurate and relevant information to its customers across Nigeria.

For Heritage Bank, it’s been seven years of creating, preserving and transferring wealth to its teeming customers across the country.

The Beginning

A story began on March 4, 2012; a story of hard-work and determination when IEI Investments Ltd acquired Societe Generale Bank of Nigeria license from the Central Bank of Nigeria, CBN, after meeting all requirements by Nigeria’s apex bank. Heritage Bank Plc was born and began its operations in Nigeria as a regional bank on March 14, 2013.

After acquiring the license and structure of the old Societe Generale Bank of Nigeria which was closed down by the CBN for failing to meet the new capital requirements of N25 billion or $155 million for a national bank in January 2006, Heritage Bank returned 100% of existing SGBN account holders’ money which were frozen at the closure of the SGBN. This move brought a lot of smiles to the faces of former account holders with majority of them having confidence to continue to bank with Heritage. This was the beginning of a success story of a man bank that was dead for 10years before it was resurrected by Mr. Ifie Sekibo and his team.

After 1year it began commercial operations, Heritage Bank became the center of the biggest event in the Nigerian banking sector. In October 2014, the Assets Management Corporation of Nigeria (AMCON) announced that Heritage Bank had emerged winner of the bid for the acquisition of the defunct Enterprise Bank. Heritage Bank had successfully met all the terms and conditions set by the CBN and AMCON towards owning 100% shares in Enterprise Bank.

Heritage Bank which entered the market just a year defied all banking tenets and was able to withstand the might of top established players like Access Bank, Fidelity Bank, (then Skye Bank – now Polaris, Diamond Bank – Access) and others to win the bid for the acquisition of Enterprise Bank which also saw it inherit over 160 branches, over 177 ATMS, and 2000 POS terminals spread across major markets and commercial centers in the country. This move automatically transformed Heritage Bank from a regional bank to a national bank.

Still, as big a move as it was, it remained just one of the many strategic moves to change the banking industry and Heritage Bank has made a lot of them since it began operations in 2013.

With a management focused on innovation and a unique philosophy to create, preserve and transfer wealth to its customers, Heritage Bank found itself in a fiercely competitive banking environment but it remained guided by passion, resilience, innovation and a brand architecture that exuded quality service, performance and sheer excellence.

Heritage Bank introduced a zero Cost of Transaction to its customers in April 2013, implying that there would be no hidden charges as it continued its quest for 100% customer satisfaction. Heritage Bank also set a standard when it launched its pilot ‘Corner Shop’ to cater for traders at the Gbagada Plank Market in Gbagada Estate, Lagos to ease banking. The ‘Corner Shop’ was widely received and appreciated by the Gbagada traders as it saved them the time and money to visit a bank branch kilometers away.

Heritage Bank was not done yet. The bank went further to prove its trend setting profile by introducing Nigeria’s first pioneer portable POS solution named ‘PortaPOS”. The Heritage PortaPOS which is free to all Heritage Bank customers can accept all EMV chip and PIN cards, MasterCard, Verve and Visa cards. It is portable and light as a regular mobile phone and has a long lasting and rechargeable battery. It also syncs to phones and printers via Bluetooth technology!

Heritage Bank has found its feet quickly on the floor of the Nigerian Banking sector and recorded over 200% increase in the number of customers since 2013. It remains committed to its customers and continues to search for new heights to attain in the Nigerian banking sector and that is why the bank is considered the fastest growing bank in Nigeria.

The Heritage Bank story is increasingly becoming a case study in corporate governance, leadership, vision and excellence.

Amid the bank’s audacity to dare and succeed, industry watchers have continued to ask; how are they doing it? The answers may not be far from the fact that this is one bank whose leadership team continues to exude the charismatic Midas touch of Ifie Sekibo and his team that has proven repeatedly that whatever he touches turns into gold.

Creating Value Through Financial Services

Over the years, the Central Bank of Nigeria (CBN) had tried to encourage the profit-oriented banks to take financial services to the next level by reducing their focus on the Oil and Gas sector but rather focus on SMEs, Agriculture and Mineral Resources among others that will drive the Nigerian economy.

As a bank that knows his onions, Heritage Bank Plc in partnership with African Export-Import Bank and Zamfara State Government signed a Memorandum of Understanding, (MoU) worth $1billion aimed at exploring the enormous resources in the state’s which includes Mining and Agriculture, a development which is a fundamental shift from the Nigerian banking services.

Perhaps, the $1billion MoU is the largest deal any state and a financial service provider has ever entered in Nigeria. So, it is considered an audacious initiative which Heritage Bank, a relatively new but highly innovative and daring bank is part of. The MoU is addressing the missing link in making a big deal out of the massive opportunities in the Zamfara mining and agriculture.

Speaking during the signing of the MoU in Abuja, the Managing Director/Chief Executive Officer, Heritage Bank, Ifie Sekibo, said the collaboration among the institutions would promote and fast-track activities that would help Zamfara explore its untapped resources for the benefit of its people and the nation’s economy. The initiative, he added, would help unlock massive opportunities inherent in solid minerals and support efforts on local content promotion, facilitate industrial development and export development. Sekibo, explaining Heritage Bank’s involvement in the partnership, said, “It is a game-changer that will drive formidable economic growth for the state government and will serve as a backbone to the economy through job creation.”

Support for ICT Hub in Africa

As part of its efforts to support Nigeria’s aspiration and roadmap to become a leading Information Communication Technology (ICT) Hub in Africa, Heritage Bank doled out the sum of $40, 000 grants to winners of the maiden edition of HB Innovative Lab.

The maiden edition of Heritage Bank Innovation Lab Accelerator programme (HB-LAB) tagged, ‘Demo Day,’ is a 12-week programme, expected to provide technology start-ups seeking additional investments to progress and accelerate market introduction/adoption of their solutions with co-working and internet resources, guidance and mentorship with finch start-ups founder and seed funding. However, the bank’s commitment is to create enabling environment, resources and support required to innovate and accelerate impactful solutions with the potential to radically improve financial Inclusion/Intermediation, health, automobile, agriculture, and other related problems affecting critical sectors of the economy.

At the grand finale of the programme, Trep Labs-Real Drip emerged the winner with the most compelling solution won the N10million, whilst Ladipomarket.com.ng won the sum of N5million prize, as the 1st runner-up, which is equivalent of $40, 000.

Speaking at the event, the MD/CEO of the bank, Ifie Sekibo, said the bank knew it was in the best interest of the country to pay attention to the development of technology and industrial sector as the future of the country lies in the hands of its youth.

He noted that although in Nigeria, technology startups still account for a relatively small share of all businesses, but they have an outsized impact on economic growth, because they provide better-paying, longer-lasting jobs than other start-ups, and they contribute more to innovation, productivity, and competitiveness.

The Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan participated as a keynote speaker in the Annual FinTech & InsureTech Summit held at Sofia Event Center, Bulgaria on 27 February 2020. The FirstBank Chief delivered a keynote speech on the topic “Banks and Clients, the New Story of Empowerment, Value Creation and Technologies”

The summit served as a platform for in-depth knowledge sharing, networking, partnerships and collaborations amongst participants with a view to showcase products across various industries thereby promoting foreign investment amongst countries.

The summit had over 700 global leading finance practitioners, decision-makers from the financial sector notably; banks, payment providers, insurance and pension companies, IT experts, founders of FinTech companies, government and regulatory associations from all over the world.

Deliberations in the course of the conference centred on various topical issues that would deepen financial inclusion and innovation capabilities, improve speed to market with digital innovation product and services and sustainable financial system where finance delivers positive ecosystem.

In delivering the keynote address, Dr. Adeduntan highlighted that; “FirstBank is at the forefront of banking industry innovation, making sure that it leverages innovation to deliver shareholder value and improve customer experience with the latest FinTech innovations and new trends in the Financial Services space.

“In other to deepen innovation capabilities and improve speed to market with digital innovation product and services, FirstBank established its digital innovation lab to adopt agile development approach in its operations. The Bank has also developed a robust telco-agnostic mobile money wallet to potentially defend its business from the incursion of BigTechs and FinTechs into the core banking space. I believe that there is a significant opportunity for value adding strategic cooperation and collaboration between Nigerian and the Bulgarian Banking and FinTech communities.”

The Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan participated as a keynote speaker in the Annual FinTech & InsureTech Summit held at Sofia Event Center, Bulgaria on 27 February 2020. The FirstBank Chief delivered a keynote speech on the topic “Banks and Clients, the New Story of Empowerment, Value Creation and Technologies”

The summit served as a platform for in-depth knowledge sharing, networking, partnerships and collaborations amongst participants with a view to showcase products across various industries thereby promoting foreign investment amongst countries.

The summit had over 700 global leading finance practitioners, decision-makers from the financial sector notably; banks, payment providers, insurance and pension companies, IT experts, founders of FinTech companies, government and regulatory associations from all over the world.

Deliberations in the course of the conference centred on various topical issues that would deepen financial inclusion and innovation capabilities, improve speed to market with digital innovation product and services and sustainable financial system where finance delivers positive ecosystem.

In delivering the keynote address, Dr. Adeduntan highlighted that; “FirstBank is at the forefront of banking industry innovation, making sure that it leverages innovation to deliver shareholder value and improve customer experience with the latest FinTech innovations and new trends in the Financial Services space.

“In other to deepen innovation capabilities and improve speed to market with digital innovation product and services, FirstBank established its digital innovation lab to adopt agile development approach in its operations. The Bank has also developed a robust telco-agnostic mobile money wallet to potentially defend its business from the incursion of BigTechs and FinTechs into the core banking space. I believe that there is a significant opportunity for value adding strategic cooperation and collaboration between Nigerian and the Bulgarian Banking and FinTech communities.”

TheMomentng learnt the Nigeria Supreme Court on Tuesday dismissed the hearing on the application filed by the sacked governor of Imo State, Emeka Ihedioha.

Ihedioha who challenged the judgement of the apex court order that sacked him as the governor of the state.

A seven-man panel of the apex court led by the Chief Justice of Nigeria, Justice Tanko Muhammad, said the court’s ruling on the application filed by Ihedioha.

The CJN led the panel when the court in its judgment delivered on January 14, 2020, sacked Ihedioha of the Peoples Democratic Party as the governor and declared Uzodinma of the All Progressives Congress as the true winner of March 9, 2020, governorship election in Imo State.

Justice Kudirat Kekere-Ekun, who delivered the lead judgment, declared Uzodinma as the winner of the election after restoring the results of the poll allegedly excluded from the final results, which gave Ihedioha victory.

...Reports profit before tax of ₦231.7 billion

Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2019 to the Nigerian and London Stock Exchanges.A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria.
Profit before tax stood at ₦231.7billion, representing a growth of 7.5% over ₦215.6billion recorded in the corresponding year ended December 2018.The Bank’s Loan Book grew by 19.0% from ₦1.262trillion in December 2018to ₦1.502trillion in December 2019, while customers’ deposits increased by 11.4% to ₦2.533trillion from ₦2.274trillion in December 2018.The Bank maintained a well-structured and diversified balance sheet with Total assets and Shareholders’ Funds closing at ₦3.759trillion and ₦687.3Billion respectively.
Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 22.5%. In terms of Assets quality, NPL ratio improved to 6.5% in December 2019 from 7.3% in December 2018 while Cost of Risk (COR) remained flat at 0.3%.Complementing the improvement noted in NPLs, the Bank maintained adequate Loan Loss coverage of 126.6% for Lifetime Credit Impaired Loans (NPLs) compared to 105.1% recorded in December 2018.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said: “At GTBank, we exist to provide excellent service to our customers and generate the returns that our shareholders expect. Our strong financial performance in 2019 demonstrates that we are delivering on both fronts. We achieved healthy growth across all our major businesses despite varying degrees of uncertainty and volatility, and we are making progress in positioning our business for long-term growth in the face of a rapidly changing competitive landscape.”
He further stated that; “Underpinning our strong financial performance is our commitment to being there for our customers when it matters most. That is why, powered by the fundamental strength of our brand, and guided by our strategy of putting our customers at the centre of everything we do, we will continue to design and deliver financial services that not only solves our customers’ real pain points but also leaves them better after every interaction.”Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of financial ratios i.e. Post-Tax Return on Equity (ROAE) of 31.2%, Post-Tax Return on Assets (ROAA) of 5.6%, and Cost to Income ratio of 36.1%.
These ratios reflect the experienced Management, and efficient Balance sheet structure coupled with operational efficiency of the Bank.
The Bank is proposing final dividend of ₦2.50k per unit of ordinary share held by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2019 final year to ₦2.80k per ordinary share.
In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years.
Some of the awards include Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine (2019), Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine (2019), Bank of the Year.
Nigeria from the Banker Magazine (2018), Most Innovative Bank from the African Investor (2018), and Best Digital Banking Brand in Nigeria from the Global Brands Magazine (2018).

The first couple to get checked out of the Ultimate reality TV show is Michael and Cherry.

After spending three weeks in the Love Pad, the couple with the hashtag #MiCherry got the least amount of votes and had to kiss the chances of winning the show goodbye.

The other housemates who were up for eviction are Obi and Ebi, Iyke and Theresa, Slyvia and Chiddy Banks…

Prior to joining the reality TV show, Michael was a broadcast content creator who’s plan was to find the love of his life in the Ultimate Love reality show. However, he thinks if he meets someone immediately, he knows if they are going to far instantly…we hope he did.

For the 30-year-old medical doctor, Cherry, she hoped to fall hopelessly in love during her stay in the love pad. While chatting with Dakore at the live eviction show, she revealed that she had found her man in Michael.

The evicted Love guests were allowed to play the game of jeopardy. In the game, they had the chance to take along the box they came to the house with or choose from two other label boxes.

After the 20 seconds time frame, Michael and Cheery picked their original box. The box contained a 350 thousand naira gift from the show to the couple.

The 2020 edition of the reality show had kicked off on February 9, 2019, pitting sixteen “love guests” against one another, in what was described as an “interesting love story.”

The winning couple is expected to be rewarded with a lavish traditional wedding ceremony and a house should they commit to getting married. They are also to get a cash prize of N5 million.

Senior lawyer and human rights activist Femi Falana SAN has spoken on the dangers of the Buhari administration flouting the law setting up the agencies of the federal government.

Speaking at a lecture to mark the Third Anniversary of the administration of Ondo State Governor Rotimi Akeredolu in Akure on Wednesday, February 27, Falana said the administration is flouting the law setting up the Niger Delta Development Commission (NDDC) by appointing an interim management committee for the agency.

The rights activist noted that the administration’s actions on the NDDC and other such agencies where the laws have been subverted leave the actions in these agencies open to litigation, a point that has been raised by rights groups and lawyers since the government set aside the Board for the Interim Management Committee (IMC).

In Falana’s words, “The management of the economy includes the appointment of personnel, the board members. These agencies that are owned by the country have the appointment of board members made alone by the president; it is not quite right and I know that you can make a case. It is so bad that some of the appointments have nothing to do with the law.” On the NDDC, he says that the Act provides that “there shall be 19 members of the Board of NDDC, one of them shall come from the state, but what has happened sir?  . . . The President decided to jettison the Board and appointed an interim committee. I am submitting here that there is no provision in the NDDC Act for an interim committee.”

He also came down hard on the administration for appointing more directors for the NNPC than the Act provides for, including the appointment of the Chief of Staff to the President Abba Kyari as a member of the Board. He said these appointments leave the decisions of the agencies open to litigation adding that: “the danger is that any contract signed by that body can be set aside. Anybody can go to court and say that some of those who took part in the meetings are not known to law and so, do something.”

The position pointed out by the senior lawyer raises grave concern for the forensic audit and other actions being managed by the interim management committee of the NDDC, which experts say can be questioned because the IMC is not known to law. The president who had appointed the Board was on the verge of inaugurating it when the Niger Delta Minister, Godswill Akpabio announced the appointment of a 3-man IMC which was supposed to stay for three months. The IMC is now into its fifth month and many indigenes of the Niger Delta region believe that it is part of a game plan to run the multi-billion naira agency without broad representation and with minimal oversight from the National Assembly and stakeholders in the region, a point alluded to by Falana. He added that he was also surprised that the Senate decided to pass “the budget of NDDC after the embarrassing appointment of interim committee.”

A section of Falana’s comments which has gone viral, reads thus (unedited): “I am submitting that the management of the economy includes the appointment of personnel, the board members of these companies. These agencies that are owned by the country have the appointment of board members made alone by the President it is not quite right and I know that you can make a case. It is so bad that some of the appointments have nothing to do with the law. I take NNPC, the cash cow.

“The NNPC by virtue of Section 1 of its Act shall have six members. Today, it has nine members, including somebody who put his own name there – the Chief of Staff to the President. The danger sir, learned senior advocate, the danger is that any contract signed by that body can be set aside.

“Anybody can go to court and say that some of those who took part in the meetings are not known to law and so, do something. NDDC, this concerns Ondo State. There shall be 19 members of the Board of NDDC, one of them shall come from the state, but what has happened sir? The Ninth Senate, Senator Adetunmbi you were one of those who screened and when it was time for the President to inaugurate them he decided to jettison the Board and appointed an interim committee. I am submitting here that there is no provision in the NDDC Act for an interim committee. Ondo State must be one of the states that should question the appointment of the interim committee. Two, the Senate surprised all of us when it decided to pass the budget of NDDC after the embarrassing appointment of interim committee.”

Earlier in the year, it was announced that Dr. Adesola Adeduntan, the Chief Executive Officer, First Bank of Nigeria Limited had been honoured with the coveted and renowned Cranfield School of Management Distinguished Alumnus of the year Award 2020.

The recognition which was celebrated across Nigeria – the highpoint being the commendation by the country’s President, Muhammadu Buhari – was recently presented to Dr. Adeduntan by Professor Sir Peter Gregson, FREng, MRIA, DSc, Chief Executive and Vice-Chancellor, Cranfield University at The Royal Society, London.

With the saying, behind every successful man there is a strong woman; an elated Mrs. Adenike Adeduntan – wife of Dr. Adesola Adeduntan – was at the presentation to support him through the ceremony.

Also in attendance were Mrs. Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank and Mr. Samuel Aiyere, CEO, FBN Bank UK, amongst others.

The Award is the School’s highest honour and recognises those individuals who have achieved significant success within their industry and sector while upholding the highest standards in business practise.

The astute banker has carved a niche for himself by positioning the FirstBank brand as a clear leader in promoting financial inclusion in Nigeria given the significant strides the bank has made in reaching the underbanked and un-banked population designed to reduce poverty and importantly bolster economic growth and development of Nigeria.

As a global thought leader, Adeduntan is well-sought after and has shared his experience and expertise at notable events across the world espousing and even envisioning financial inclusion in the next 125 years.

First Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of Year 2019 award at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held recently at Transcorp Hilton, Abuja.

The four-day event, comprising conference and award dinner, is acclaimed to be Nigeria’s Government official platform for the petroleum industry gathering which has evolved to become Africa’s premier business and technology conference for not just oil and gas but for other industries in the economy, notably; maritime, automobile, banking and finance, power (electricity), pipelines, LNG, infrastructure, engineering and construction amongst others.

Speaking on the award, the Bank’s Chief Executive Officer, Dr. Adesola Adeduntan said, “we take pride in this recognition, as it represents the nation’s identification with our leading role in promoting the growth of the oil and gas industry. We remain steadfast on being the financial partner of first choice to Nigerians and, indeed across Africa as we collectively strive towards the continued growth of the economy at large”

The event had in attendance; Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited, represented by Mrs. Bashirat Odunewu, the Bank’s Group Executive, Energy & Infrastructure as a panelist to deliberate the topic “What are the key challenges when it comes to managing risk and generate sustainable long-term in-country value development environment”. Other speakers in the panel were Mrs. Olayemi Anyanechi, Managing Director, Partners Sefton Fross; Bank Anthony Okoroafor, Chairman, Petroleum Technology Association of Nigeria (PETAN); Mr. Bitrus Bako Nabasu, Permanent Secretary, Ministry of Petroleum Resources; and Patrick Olinma, Executive Director, Oil & Gas Commercial, Total E&P Nigeria Ltd.

Over 5000 individuals and Corporate bodies from across 43 countries including; Dr. Sun Xiansheng, Secretary, General, International Energy Forum (IEF); Jean-Marc Thystère Tchicaya, Minister of Hydrocarbons, Republic of the Congo; Dr. Omar Farouk Ibrahim, OPEC Governor for Nigeria; Jens FrolichHolte, State Secretary, (International Development) Ministry of Foreign Affairs, Norway; Carri Lockhart, SVP Portfolio and Partner Operated Development and Production International Equinor; Gabriel Mbaga Obiong Lima, Minister of Mines and Hydrocarbons Republic of Equatorial Guinea and Magda Chambriand, Former CEO, National Agency of Petroleum Natural Gas and Biofuels Government of Brazil amongst others, participated in the event.

FirstBank has over the years supported public and private players in the oil and gas industry which has been the mainstay of the Nigerian economy, post-independence. With its “Oil and Gas Contract Finance products”, the Bank finances the Oil & Gas value-chain by providing Advisory/Agency services, Acquisition Finance/Reserve based lending to indigenous oil producing companies, trade Finance for crude oil export and refined product import and contract finance for oil service companies ranging from simple hospitality to complex turnkey Engineering, Procurement and Construction, amongst other tailor-made treasury and cash management solutions.

In demonstration of its commitment to consistently promote and support the growth and development of the economy and also to deepen its foothold in the retail sector, Keystone Bank Limited recently held another edition of its capacity building training for its customers in Abuja and its environs.

According to the lender, the programme tagged ‘Spark Up Your Brand 2.0’ which was launched in July 2019 and is part of the bank’s corporate social responsibility (CSR) initiatives, is designed to teach start-ups on how to position their brands for business growth and make them attractive to investors and for profitability.

Speaking on the initiative, Keystone Bank head of CSR, Izore Bamawo said: “SMEs are established drivers of the strongest economies and Nigeria cannot be an exception. With over 15 million SMEs dotting the Nigerian landscape, we are poised to ensure our customers in this segment actively grow their businesses through our partnerships and focused initiatives in the segment, and that is why we have strong support for the MSME sector.

“Keystone Bank is one of the financial institutions that have long-running support for the growth and development of small businesses in Nigeria because of the recognition of critical roles of MSMEs as vital agents of economic development and transformation.

“May I reemphasize that this programme is a demonstration of the bank’s commitment to leverage business growth opportunities pivotal in accelerating the process of economic and social development, which is one of the global millennium development goals.

“Our target is at delivering top-of-mind value propositions to enable the entrepreneur’s position their brands for profitability,” Bamawo noted.

At the event held on 14th February 2020 at the popular Rock View Hotel, Wuse II, participants were offered a free website alongside mentorship sessions by experts who shared deep insights on varied aspects of marketing and brand management.

Keystone Bank, a technology and service-driven commercial bank offering convenient and reliable solutions to its customers, has a full-fledged SME banking division which over the years has developed various engagement programmes focused on empowering entrepreneurs.

The Tax Appeal Tribunal, Lagos Zone, has ordered Ecobank to pay at least N1.6 billion to the Federal Inland Revenue Service (FIRS) as its company income tax for 2016.

The tribunal declared as illegal, the decision of Ecobank Nigeria Limited to pay N5.5 billion as dividends to its shareholders ”in a year the bank claimed it made no taxable profit and rather declared losses from its banking operation.”

According to a release by the Director, Communications and Liaison Department, FIRS, Abdullahi Ahmad, the tribunal reached the decision in its judgment dated February 20, 2020 which it delivered in Appeal No. TAT/LZ/CIT/024/2018.

Consequentially, Ecobank must now pay at least N1.6 billion to the FIRS as company income tax for the year in dispute – 2016

“Ecobank had dragged the Federal Inland Revenue Service (FIRS) to court over the insistence of the Service that the bank must pay in full its excess dividend tax liability of N2,079,375,000, inclusive of interest and penalty for the Year of Assessment (YOA) 2016.

“But ECO Bank argued that the dividend it paid out was tax-exempt as N4,372,244,556 out of the total sum was “profit from bonds and treasury bills”, which was not taxable based on the provisions of the Company Income Tax (Exemption of Bonds and Short-Term Government Securities) Order, 2011,” the FIRS said in the statement.

The bank after reportedly admitting to only making N1.1 billion “trading profits” from other business sources, decided that it would only pay N351 million tax to the FIRS.

The bank was said to have paid the service after some months of delay.

However, FIRS “demanded the immediate payment of the outstanding excess dividend tax liability of N1,311,673,367” from the bank, which impasse led to suit before the tax tribunal.”

Spokesperson of the bank, Austin Osokpor on Wednesday said he does not ”have prior knowledge of the case”.

“I don’t know about it at all before this time,” he said on the telephone.

He promised to react once he is able to clarify the story.

Ecobank’s ‘argument’
Meanwhile, according to the FIRS statement, the bank presented three issues for determination, namely whether the FIRS “was correct to assess the Appellant to tax under Section 19 of CITA when the income earned was “from Bonds, Treasury Bills, and other Government Securities”.

“Whether the FIRS misdirected itself by failing to take account the CIT paid by the Appellant and whether by the rules of Interpretation of Statutes, the Respondent has erred in law in its application of Section 19 of CITA.”

In its consideration of the three issues raised, the tribunal reportedly resolved them in favour of the FIRS.

It held that “companies that invest in bonds will, by virtue of the tax exemption, become liable to pay excess dividend tax on their profits.”

The court maintained that “if the tax exemption granted by the order creates an excess dividend situation, Ecobank or any other company should be liable to pay excess dividend tax on the same income that otherwise would have been exempted from tax.”

“A liability to pay excess dividend tax arises where a company that seeks to pay dividends has no taxable profit as in the instant case but has the distributable profit that is higher than the taxable profit,” the tribunal said.

The tribunal also said that the FIRS properly directed itself by not failing “to take into account the sum already settled by the Appellant” (Eco Bank) in the Service’s “total assessment of N1,663,500,000.”

Addressing the final issue for determination, the tax tribunal headed by Ado-Baba Ahmed, resolved all issues raised in favour of the FIRS.

It declared that the Ecobank “appeal fails and is hereby dismissed

By Abiye Tolofari

The sack of Ms Joi Nunieh on Wednesday February 19th 2019, barely four months after she was appointed Acting Managing Director of Niger Delta Development Commission (NDDC) is yet another chapter in the quagmire that the agency has been plunged into since Godswill Akpabio was appointed the Minister of Niger Delta and handed supervision of the agency. The sack, which was announced in a terse statement signed by President Buhari’s Special Adviser on Media and Publicity, also announced a new acting managing director and two new members of the Interim Management Committee (IMC) set up by Akpabio on October 29, 2019.

While no reasons were given for Nunieh’s sack, reports indicate that in addition to questions over her National Youth Service Corps discharge certificate, which critics say she does not have and may well indicate that she never did the compulsory one-year service, allegations of financial impropriety, lack of financial prudence and conflict of interest in certain transactions played a role in her sack. There was also overwhelming signs that she had fallen out with Akpabio and the minister had promised to deal with her, a threat he obviously made good on. Well, Akpabio appointed, Akpabio sacked. Period.

Nunieh does not deserve pity and it is no surprise that there are no murmurs anywhere because she made herself available for Akpabio’s scheme to be used to scuttle the constitution of a proper Board for the commission with the reward of heading the interim management committee. It is particularly shameful because she did this just after she was announced as a member of the Board appointed by President Buhari to represent Rivers State and had made an appearance before the Police Federal Investigation Bureau for scrutiny as demanded of all nominees.

That board was eventually approved by the senate on November 5th 2019, a week after the IMC was set up. She sold herself cheap and got just what she deserved. Hers is the case of a classical use-and-dump.

While one is tempted to sit back and say that Nunieh deserves what has come her way having made herself an accomplice in Akpabio’s scheme to personally control the NDDC through the interim management committee just when the president had appointed a substantive board and sent the names for screening by the senate, her sack and the appointment of new members into the IMC barely four months after the committee was set up renews the questions over the propriety of the ad-hoc arrangement which the minister has trumpeted as necessary to supervise the forensic audit. The appointment drew protests from various groups in the region who wondered why a board that was nominated should be so whimsically set aside for a committee answerable only to the minister.

Groups such as the Ijaw Youth Council, Urhobo Progressive Movement, Itsekiri Progressive Front, Oron Movement and several influential voices were loud in protesting, insisting that the IMC was Akpabio’s plan to control the agency directly. Eric Omare, president of Ijaw Youth Council, the foremost youth association in the Niger Delta, said in a press statement issued on October 29 2019, the day the Nunieh committee was announced: “The activities of Chief Akpabio since his appointment as Minister of Niger Delta Affairs have led to instability and confusion in the Niger Delta region especially with respect to the management of the NDDC. We make bold to state that Akpabio’s intention in setting up an interim management committee with one of his political loyalist Chief Ibanga Bassey Etang as Acting Executive Director, Finance and Administration is to use the NDDC to promote personal aggrandizement at the expense of the development of the Niger Delta region.”

The allegations of sleaze that has attended the work of the committee since it was appointed would seem to justify this fear and make clear why the IMC should be scrapped immediately and a board inaugurated for the NDDC. There is indeed a feeling of déjà vu after the crisis that has hit the IMC.

The sack of Nunieh has exposed the grey underbelly of the NDDC under Akpabio and how it has continued in the tradition of fraud and waste.

According to one report, ‘The reason that was given for the appointment of the Interim Management Committee (IMC) and the stay of the Board was the need to cleanse the NDDC. So much PR (public relations) capital had been made out of corruption in the NDDC with Nunieh herself not failing to grab the spotlight to highlight one major discovery of fraud or the other. No sooner had she come in than the commission paid one Cyrus and Jenny Limited, a company in which she is a director.

The company was paid N326.3 Million for a contract it got in 2016 for emergency repair of Beeri Internal roads in Khana LGA of Rivers State. A search by whistleblowers at the Corporate Affairs Commission in December 2019 listed her as a director of the company. This was two months after she had been appointed acting MD of the NDDC, which is against the public service rule that demands her resignation of any company of which she is a director. Whistle blowers who raised the alarm also alleged that she ordered the payment even when the company had not shown a compliance certificate and at a time when the NDDC had stayed action on paying contractors pending the verification of their jobs.’

Eyebrows were also raised when it was reported that the Interim Management Committee raised the monthly imprest of the directors from N40m to N51m for the acting MD and N28m each to N40m each for the two EDs, amid allegations of a cash-for-contract-verification sleaze at the NDDC, with a sub-plot of a battle between Akpabio and Nunieh for the spoils from desperate contractors seeking to be verified before the audit. The question to ask is what an MD office which operations is skeletal for now being an interim management need N51 million monthly for? Or, an acting ED, N40 million monthly?

When the Interim Management Committee was announced by Chief Akpabio on October 29, 2019, he said it would last no more than six months, yet it has already spent four months and auditors are yet to commence their work.

Rather, the federal government has announced that the audit would last nine months, taking the whole IMC ad-hoc arrangement to 13 months if the contraption is allowed to continue. This shows a clear lack of interest in following the law setting up the commission. It is without a doubt part of a grand design by the minister to continue to run the agency like a one-man institution where he hires and fires committee members like he desires.

This design was clearly exemplified by the decision to set up committees to undertake the verification of contracts and more committees to process items which are best left to the forensic auditors to perform because, in the end, they muddle up the documents and make cumbersome the job of getting at the root of the NDDC waste but which serve well to elongate Akpabio’s one-man intervention in the agency and make it his own instrument to dispense favours, as well protect his interests in the commission given that as Governor of Akwa Ibom State he nominated some of the people who are the subject of the forensic audit, including a chairman and a managing director and executive directors.

There are three principal grounds why the presidency must disband the IMC. One is that the IMC is a one-man operation of Akpabio and does not represent the diverse states and groups as provided for in the NDCC Act.

The Act provides for representation from all nine states and non-oil producing geopolitical zones. The second reason is that the IMC has proven to be a complete waste of resources and all it does is provide jobs for the boys. It is just a sitting committee which collects outrageous allowances. The third is that the story with Nunieh has shown that the IMC does not even have the integrity to supervise an audit. In any case no serious auditor worth its salt needs an IMC to know how to go about its job.

President Buhari can still remedy the situation at the NDDC by disbanding the committee and inaugurating a proper board for the commission because the Niger Delta states are in dire need of development intervention. The fact that previous boards messed up is not a reason to lockdown an agency.

After all, as President Buhari is used to say the 16 years of the PDP was a waste, yet his administration was not set aside for an interim national government to right the wrongs of the 16 years of the so-called waste. The president should realize that the buck stops at his desk and the shenanigans of Akpabio at the NDDC will loom large as a failing if he fails to check the minister’s missteps and allow for the inauguration of a proper board for the NDDC.

Tolofari, a commentator on public affairs, lives in Port Harcourt

Mastercard has appointed Ifeoma Dozie as its Director, Area Marketing for sub-Saharan Africa.

The appointment, according to a statement from the company, is “in line with Mastercard’s commitment to advance gender equality and women empowerment.”

Dozie, who has had over 17 years’ experience driving marketing strategy internationally, brings a wealth of expertise to the role and will be based in Mastercard’s regional head office in Lagos, Nigeria, it added.

It stated that as Director Area Marketing for Sub-Saharan Africa, Dozie is responsible for driving Mastercard’s marketing and communications strategy across the region, and leveraging her knowledge of the market to drive Mastercard’s business performance.

Commenting on her appointment, Raghav Prasad, the Divisional President of Mastercard Sub-Saharan Africa, said: “Our investments in Africa demonstrate our continued commitment to driving a world beyond cash and bring more people into the formal economy. “

At Mastercard, our people are one of our most important investments. This is why we are thrilled to welcome Ifeoma Dozie to our Sub-Saharan African team.

“With a wealth of experience in all aspects of traditional and digital marketing and a clear understanding of the region’s diversity and the innovative transformation of our brand, Ifeoma will play an invaluable role in engaging consumers, using marketing as a business driver for both Mastercard and its customers.”

Before joining Mastercard, Dozie was the Senior Regional Marketing Manager for Heineken in the Africa, Middle East and Eastern European region, where she was responsible for the development of strategic business plans and capability building.

Prior to that, she worked as the brand’s Portfolio Director in the UK, as Global Marketing Manager in its Netherlands office, and as the Marketing Manager of Nigerian Breweries Plc. She holds a law degree from the University of Bristol, UK and a master’s degree in international business from King’s College, London.

The statement further noted that Dozie is also passionate about girls’ education in Nigeria and actively participates in mentorship programmes.

The Supreme Court has upheld its judgement which sacked David Lyon of the All Progressives Congress (APC) as the governor-elect of Bayelsa State.

Recall the apex court, on February 13, sacked Lyon of the APC barely 24 hours to his inauguration.

A five-member panel of the apex court led by Justice Mary Odili nullified Mr Lyon’s election on the grounds that his deputy, Biobarakuma Degi-Eremienyo, presented false information to the Independent National Electoral Commission(INEC) to aid his qualification for the November 16 governorship election in State.

Subsequently, the court ordered INEC to declare the party with the highest number of lawful votes and geographical spread the winner of the election. The candidate of the Peoples Democratic Party, Douye Diri, was later sworn in as governor.

This was sequel to a suit filed by the candidate of the Peoples Democratic Party(PDP), Douye Diri, against the APC candidates and INEC, seeking the disqualification of the APC deputy governorship candidate.

The ruling has since generated outrage among Nigerians. While many say the court was wrong to have made the judgement, others believe otherwise.

The Economic and Financial Crimes Commission, Ibadan zonal office, has arraigned an ex-banker, Akinwole Dosunmu, alongside his wife, Motunrayo, before an Oyo State High Court sitting in Ibadan for the alleged theft of N2,740,300.92 from Sterling Bank Plc.

Akinwole, a staff member of the bank, and his wife, a customer and beneficiary in the bank’s third party acquirer scheme, were arraigned on Tuesday, February 18.

The bank’s third party scheme is a marketing strategy through which relatives and friends of the marketing agents are awarded commission for bringing new customers to open and operate new accounts with the bank.
According to the bank, Akinwole, a marketer, was appointed to coordinate the third party scheme.
The bank said, “Apart from the commission on account opening, the referral also enjoys a certain percentage on the saving made through the accounts every month.”
However, while reviewing activities under the scheme in 2016, the bank allegedly discovered that some of the accounts appropriated to Motunrayo as a third-party acquirer, were fraudulently tagged to her by her husband.
Investigation revealed that the accounts were not sourced by the couple, but by other third-party agents.
According to the petition filed by the bank, the couple dubiously benefited N2, 740,300.9292 as commission paid to Motunrayo through the scheme.
The couple were arraigned on 16 counts bordering on stealing, contrary to Section 390 (9) of the Criminal Code Laws Cap. 38, Laws of Oyo State, 2000.

Count one of the charge read, “That you, Akinwole Dosunmu and Motunrayo Dosunmu, between July 2015 and April 2016 in Ibadan, within the jurisdiction of this court, did commit an illegal act, to wit, stealing of the aggregate sum of N1,280,554.38 property of Sterling Bank Plc under the guise that the account of one Odediran Oluwafemi and An Nee (a corporate account) were generated by Motunrayo Olanike Dosunmu, thereby, committing an offence.”
The defendants, however, pleaded not guilty to the charges preferred against them.
Counsel for the EFCC, Ifeanyi Agwu, applied for a date for trial.

However, the defence counsel, J. B. Olaoye, informed the court that he had filed applications for bail on behalf of the accused persons.
Justice Ladiran Akintola adjourned the case till Friday, February 21 for hearing of the bail applications.

The Minister of Niger Delta Affairs, Godswill Akpabio, may have pushed for the removal of Joy Nunieh as the acting managing director of the Niger Delta Development Commission (NDDC).

Mr Akpabio’s ministry supervises the NDDC.

Sources close to both Mr Akpabio and Ms Nunieh said the relationship between the two individuals became rancorous lately to a point that the former NDDC chief refused to pick the minister’s telephone calls.

President Muhammadu Buhari on Wednesday named Kemebradikumo Pondei, a professor of medicine, as a replacement for Ms Nunieh.

Mr Pondei is to serve as acting managing director of the troubled NDDC until the completion of a planned forensic audit of the agency.

Besides Cairo Ojougboh and Ibanga Etang who remain acting director (projects) and the acting director (finance and administration) respectively, Mr Buhari also expanded the interim management committee to include a former Vice President of African Development Bank, Cecilia Akintomide, and one Caroline Nagbo as members.

Mr Akpabio’s relationship with the sacked NDDC chief was fraught with mutual suspicion and powerplay, according to people familiar with the matter.

“The expected cooperation was not there (between the ministry and the NDDC),” a source close to Mr Akpabio told PREMIUM TIMES.

Some sources said Ms Nunieh stayed away from the first tripartite meeting between the NDDC interim management, the lead forensic consultant, Messrs Olumuyiwa Basiru & Company, and the ministry of Niger Delta Affairs in January in Abuja.

The two other directors in the NDDC attended the meeting, the sources said.

“Some people in government suspect that she may not give the needed cooperation for the forensic audit to be done timeously.

“You know the government does not want the interim management to drag on with the forensic audit for too long,” the source said. “If you don’t cooperate with them and they don’t conclude the work on time, it means your tenure will continue.”

One source said the relationship between Ms Nunieh and Mr Akpabio remained frosty for several weeks.

She said the former NDDC chief later tried to break the ice between her and the minister when an uncomplimentary story about her surfaced in some newspapers in January.

We could not verify the authenticity of the allegations against Ms Nunieh in the publications.

Ms Nunieh was said to have reached out to Mr Akpabio at the Port Harcourt airport sometime in January while the minister was on his way to a sporting event at the Federal Government College, Port Harcourt.

Inside the VIP lounge at the airport, the former NDDC chief was said to have requested a peaceful settlement of her conflict with the minister.

“It had nothing to do with contract-award,” the source said of the disagreement between the minister and the former acting managing director of the NDDC.

“The interim management committee is not supposed to be awarding contracts, their job was to supervise the forensic audit,” she said.

“No comment!” Says Ms Nunieh.
When contacted Ms Nunieh’s media aide, Ibanga Isine, for comments, he said the former acting managing director of the NDDC had no comment for now and that she would issue a statement at “an appropriate time”.

However, an official in the commission who did not want his name mentioned said Mr Akpabio fought Ms Nunieh because of her principled and uncompromising position on the affairs of the NDDC.

The source corroborated the claims that Ms Nunieh did not answer or return Mr Akpabio’s telephone calls at times rough that she stayed away from a tripartite meeting with the lead forensic consultant.

“The woman stayed away from the meeting with the audit firm because she was insisting that the World Bank and the National Financial Intelligence Unit should be involved to supervise the forensic audit since the firm handling it was handpicked by the minister,” he said.

Ms Nunieh is a longtime political ally to President Buhari but it is believed that Mr Akpabio may have contributed to her appointment in the NDDC.

Efforts to reach Mr Akpabio for this report were not successful. Calls to his known telephone number did not go through and he is yet to respond to a message sent to him,

Mr Akpabio, a former governor of Akwa Ibom State, said last year that the NDDC was bedeviled by corruption, so much so that the commission was being seen as an automated teller machine (ATM) where people could just walk in to pick cash.

Mr Akpabio later made a shocking revelation claimed that the NDDC ‘abandoned’ $70 million in a bank for 13 years, while hundreds of its projects remain abandoned and uncompleted across the oil producing states, partly due to non-release of funds.

Keystone Bank Limited, Nigeria’s most innovative banking services provider, has restated its commitment to environmental sustainability as it recently embarked on tree planting campaign.

According to the lender, the event which saw staff of the bank plant trees at the Nigeria Conservation Foundation in Lagos, is in line with its bid to further align with the Sustainable Development Goal 15, which stresses the call by the United Nations to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss and ultimately for environmental sustainability.

Commenting on the initiative, Keystone Bank executive director, Adeyemi Odusanya said: “As a bank, our goal is to lead the movement promoting environmental sustainability in Nigeria and we are clearly going to sustain that.

“One of the ways to sustain this initiative is by planting trees to preserve the environment. Tree planting remains a strong tool to tackle the effect of climate change. Climate change is the most significant material risk to the future because it poses most devastating threat to human survival.

“Keystone Bank fully aligns itself with the UN ideology.

“We cannot live a healthy life, conduct business and create wealth amidst a sick environment. Hence, this gesture is our commitment towards a sustainable future that will benefit all,” Odusanya noted.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

President Muhammadu Buhari has approved the appointment of Prof. Kemebradikumo Daniel Pondei as the Acting Managing Director of Niger Delta Development Commission, NDDC.

Professor Pondei is taking over from the present Acting Managing Director, Barrister Joi Nunieh

This was contained in a statement signed by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina in Abuja on Wednesday.

The statement read, “President Muhammadu Buhari has approved the enlargement of the Interim Management Committee (IMC) of the Niger Delta Development Commission (NDDC) from three to five.

”The five members of the committee are now: Professor Kemebradikumo Daniel Pondei, who is the Ag. Managing Director, replacing Barrister Joy Nunieh; Dr Cairo Ojougboh, Ag. Executive Director (Projects); Mr Ibanga Bassey Etang, Ag. Executive Director (Finance and Administration); Mrs Caroline Nagbo (Member); and Cecilia Bukola Akintomide, OON, a former Vice President with African Development Bank, (Member).

“Prof K.D Pondei, the new Ag. Managing Director, is a Professor of Medicine at the Niger Delta University, and former Provost, College of Health Sciences of the institution.”

President Buhari had earlier approved that the Interim Management Committee would be in place till the forensic audit of the NDDC was concluded.

My wife was pregnant and so was I

By Ayo Alonge

Let's just say pregnancy fell on my wife and I was caught responsible for it.
I will confess. My wife was actually pregnant and so was I.
But, how?
Well, I was practically working as a midwife all through the process. Alas, I was actually pregnant too, just like my wife was.
The difference is that while she was carry the pregnancy in her tommy, I was carry it about on my head, like gala, so to speak.
I soon found out that nursing a pregnant woman all alone is more like an 8 to 5 paid job, especially when there is no housemaid around to help out. The husband material in you will pop up, by default.
And then, I was helping out with chores, by compulsion. If you are the emotional type like me, you don't even want to watch her do chores. Most times, I resume kitchen duties.
How I hate washing dishes!
By force, I learnt gentlemanliness, patience and obedience to all her commands. Those were the times she would demand ofada rice, assorted fruits, unripe plantain with garden egg sauce, amala from Yakoyo spot in Surulere, name it. One of the occasions, I became a regular caller on the pepper soup joint in the neighbourhood.
That would have been fine but for the fact that she started to poke everything that entered her mouth, after all the wahala involved in the process of getting it. That was during the first trimester.
Soon, the endless vomiting and feverish condition set in. Then I was told she had Hyperemesis Gravidarum.
"Doc, what is that," I asked in anxiety.
"Not too worry, it's just a condition at the early stage of pregnancy characterised by severe nausea, vomiting, weight loss, and electrolyte disturbance," he replied.
Then came the delivery date.
A naturally soft-spoken person, for the very first time in the marriage, yelled at me.
"Put on that AC!", she yelled at me like you would do to a kid.
My legs slipped, as I shivered and staggered around her ward, looking for the stupid remote which was nowhere to be found.
Right under my nose, I watched her cry in intense labour, as tears rolled down her eyes, but the man in me kept pushing back my version of tears. Otherwise, who would have consoled who?
Then it was time for her to push. We were in it together right in the labour room. How would I have given an eyewitness account reportage?
As my heart beat faster on a per second basis, I entered the labour room with my cold feet and my heart in my mouth.
Finally, on just two pushes, right under my nose, and on the dot of 8:34pm, our bundle of joy and my carbon-copy arrived safely.
It's a boy!

There is no reprieve yet for the Wema Bank Plc and its seven officials cited for contempt, as a Federal High Court sitting in Lagos, Southwest Nigeria reinforced its order compelling the said official to appear before the court on Tuesday to explain why committal to prison order should not be made against them.

When the matter was mentioned on Monday, only the Secretary of the bank, Johnson Lebile was present.

Other officials of the bank charged for contempt are Ademola Adebise, managing director; Moruf Oseni, deputy managing director; Wole Akinleye, executive director and Folake Sanu, executive director.

Lebile told the court that the chairman of the bank, Babatunde Kasali travelled abroad, why other Directors ordered to appear before the court today are not available.

He explained to the court that the bank refused to obey the order of the court to pay the judgement sum because the bank had filed an appeal against the ruling of the court and also filed stay of execution of the judgement of the court.

However, the lawyer to the bank officials cited for contempt, Mr. Wemimo Ogunde, suggested to the court that he could advise Wema Bank to pay the judgement sum into the account of the Chief Registrar of the court, since there was appeal against the judgement of the court and application for stay of execution of the said judgement and other pending application so that the outcome of the appeal would not be made nugatory.

However, the counsel to Heritage Bank, Chief Ajibola Aribisala SAN, in a counter argument told the court that the business of the day was for the parties cited for contempt to appear before the court to explain why they should not be sent to prison for flagrant disobedience of order of the court.

He urged the court to issue bench warrant against those officials that were not in court, while the Company’s Secretary present in court should be sent to prison to show that the court was not a toothless bulldog.

In his reaction, Ogunde, while citing certain rules of the court said last Friday, the court issued order compelling the officers of Wema Bank cited for contempt to appear before the court and that by virtue of the rule of the court Sundays and public holidays were not to be counted, saying that in view of this provision, the time for them to appear would expire tomorrow.

The presiding Judge of a Federal High Court Chukwujekwu Aneke sitting in Lagos south west Nigeria has ordered that Wema bank Plc and its six officials cited for contempt for disobeying the order of the court should appear before the court on Monday 17th day of February, 2020 to explain why they should not be sent to prison for flagrant disobedience of the extant positive orders of the court.
The affected officials of the bank are the Managing Director Ademola Adebise,the Chairman Babatunde Kasali, Deputy Managing Director Moruf Oseni, Executive Director Wole Akinleye Executive Director Folake Sanu and the Company Secretary Johnson Lebile.
The order of the court was sequel to two different similar garnishee suits filed before the court by a Lagos lawyer Chief Ajibola Aribisala SAN on behalf of Heritage bank, the first one against Ondo state Government and the Attorney General of the state, and the second one against Idanre local Government Universal Basic Education Authority, Ondo state Government and Attorney General of Ondo state
Heritage bank having obtained judgement against the two parties at an Ondo state high court in the sum of N1billion out of which N600million has been paid leaving balance of about N600million,while the judgement against Idanre local Government Universal basic Education Authority is in the sum of N405,431,460 .98
Heritage bank then initiated garnishee proceeding against the parties in the two suits.
On 6th of December 2019 the court made the order nisi against Wema bank Plc absolute attaching the principal judgement sum Of 134,034,175.41,Wema bank Plc,thereafter deposed to affidavit that Ondo state Government has N744,771,993.3 standing to its credit and same has been attached in compliance with the order of the court,but the bank refused to comply with the order of the court to pay the money despite the demand made by Chief Aribisala SAN on behalf of Heritage bank.
However Wema bank in its response letter claimed not to comply with the order of the court based on the notice of Appeal and Motion for stay of execution filed by the Ondo state Government at the court of appeal.
Thereafter Heritage bank caused the Registrar of the court to issue form 48, Notice of consequence of disobedience of order of the court against the officers of the bank cited for contempt, still the order of the court was not obeyed,hence the need for the issuance of form 49 asking the parties cited for contempt to show cause why order of committal should not be made against them for flagrantly disobeying the orders of the court.
On the 5th day of February, 2020 when the matter came up for hearing, Chief Ajibola Aribisala SAN, in his argument and submission before the court contended that it is obvious that parties cited for contempt are not in court and that the court must compel their presence in court, he then urged the court to issue bench warrant against official of Wema bank Plc cited for contempt to compel them to appear in court.
However the counsel for the official of Wema bank cited for contempt, Mr Wemimo Ogunde SAN contended that the form 49 was filed and served on the parties and before then Wema bank has already filed an application for stay of execution pending appeal and that the record of appeal has already been entered at the court of appeal.
Consequently,after listening to the two parties the court adjourned till 14th February 2020, for ruling.
Justice Aneke in his ruling relating to the two suits said “The said appeal lodge by the parties cited for contempt has nothing to do with the form 49 served on them for their failure to comply with the order of the court in respect to the order made absolute against Wema bank Plc.
Accordingly, the parties cited for contempt are hereby given 72hours from today till Monday 17th of February, 2020 to appear before the court to explain why committal order would not be made against them for flagrant disobedience of the extant positive orders of the court.

…as Primate host UN 75th anniversary flag-off ceremony



It was yet another day of glory and honour for servant of God and founder and spiritual head of INRI Evangelical Spiritual Church, Lagos, Primate Elijah Babatunde Ayodele.

It was time for his 60th birthday thanksgiving and hosting of the United Nations 75th anniversary flag off ceremony. It was, indeed, a day of double celebration given series of honours bestowed on the popular cleric on the occasion.

For his humanitarian exploits, hospitality, generosity and, most particularly, his immense contribution to world peace, the United Nations honoured Primate Ayodele with the ‘Eminent Ambassador of Peace’ award presented to him amidst ovation by a top UN representative, Ambassador Chinedu Anthony, who presented a similar award to T. D. Jakes in Nairobi, Kenya earlier this year.

According to the UN representative, World Peace President, Per Stafsen “our conversation is geared towards assembling 10 million Nigerian voices that will engage the United Nations with the opinion and suggestion that will strengthen their global mandate for the future we want and the United Nations we need.” Buttressing the UN’s point, Sanwo-Olu who was represented by Commissioner for Home Affairs, Olanrewaju Anofiu Elegushi commended the UN on the promotion of peace.

“We all agree that basic needs are important. They should continue to provide for the war zone countries. They should also have future plans to help tackle unknown diseases. They should have future diseases in mind to save humanity,” he stated.

The celebration that kicked off as early as 8 o’clock in the morning of February 14, 2020, did not come to a close until 7 o’clock in the evening after the last church member had left the church premises, venue of the event.

The stage was set with the INRI church’s musical band led by Dotun Future, a fast-rising Juju music crooner. The regular INRI choristers provided soft music while the programme anchored by seasoned event compere, Soji Omotayo, progressed in earnest.

At 10.30 in the morning, the space provided to accommodate guests for the event was already filled to capacity and had extended to also fill the one-storey church building and the adjoining spaces in the area.

However, there was a sudden, rowdy movement of crowd at 11.56 in the morning. The crowd streaming toward the stage had first created panic with some thinking that probably there was a disagreement. Not until the movement halted by the VIP tent that it became clear the crowd had attended the arrival of Fuji music icon and the newly-installed Maiyegun of Yorubaland, King Wasiu Ayinde Marshall a.k.a. K1 de Ultimate.

K1, with the help of his armed police guards, was ushered to the high table by Primate Ayodele’s personal security detail when the crowd hailing him was becoming uncontrollable. The Fuji music king was the prized guest of the day.

Representatives of the Lagos State governor, Mr. Anofiu Elegushi who is the commissioner for home affairs; the United Nations World Peace team led by their president, Ambassador Per Stafsen; representatives of other important personalities some Southwest governors’, were already seated before K1’s arrival, while the representatives of the Ooni of Ife, Oba Adeyeye Ogunwusi and Sultan of Sokoto joined the table few minutes later. Hon. Samsideen Abiodun Olaleye, the executive chairman of Isolo LCDA, was represented by the executive secretary of the Council.

Ayodele, who has always described himself as ‘friend of the press’, got two surprise paybacks on the occasion for being truthful to his words. Two professional groups from the fourth estate of the realm honoured him in a most surprising way.

The Lagos State Online Media Publishers (LASOMP) headed by Mr. sola Animashaun who is the publisher of City News magazine, published a special edition in honour of the man of God’s birthday with each member dedicating an eulogy to his honour.

In similar fashion, the Celebrity Journalists Publishers Association of Nigeria (CJAN), led by Mr. Joshua Uloko who is the publisher of City Pride magazine, honoured Primate Ayodele with a certificate as the association’s Patron.

Expressing positive feelings at the honours, the renowned prophet commended the media, particularly the groups that found him worthy of being awarded, appreciating them for regularly promoting the ingenuity in him and his ministry, while he promised to continue in the course of charity and promoting peace in Nigeria and beyond.

The 2020 Thanksgiving event was rounded up on Saturday, February 16, with the presentation of the UN special number plate to Primate Ayodele by Amb. Per Stafsen at a brief ceremony in Lagos.

Aside being known for releasing prophetic messages on a regular basis most of which are fulfilled, Primate Ayodele has also been focusing his energy on providing help to the poor with his charity arm, INRI Widows Foundation, as well as supporting the spiritual and pastoral work of even fellow pastors and churches outside his ministry.

Remarkably, Ayodele’s birthday falls on Valentine ’s Day known as ‘day of love’. So, amidst other programmes of the day, the prophet extended humanitarian gestures to many, including members of his ministry, police, musicians, actors, running into N20 million while he promised to earmark a special day to empower journalists before the end of 2020.

Maiyegun Wasiu Ayinde was later invited to the stage where he acknowledged his friendship with Primate Ayodele who he said had provided spiritual assistance to his career for 35 years.

“I have known Primate Ayodele for 35 years. That was when we were both very young. He would render spiritual assistance to me and would not show IP or contact me until about the next three months when he had other spiritual messages to deliver. He never asked for anything in return from me and so I developed special interest. That was how we became close friends but a lot of people didn’t know I even knew him,” K1 narrated to the amazement of the audience and thereafter donated the sum of N4m in support of the ministry’s humanitarian efforts.

He, thereafter, honoured Ayodele with beautiful tunes from the repertoire of his old and new songs with which he urged the man of God to keep on doing his best to serve mankind.

Other side attractions at the event were performance by Fuji music star, Muri Alabi Thunder and cultural performance by the ‘INRI wives of Jesus’.

The presiding Judge of a Federal High Court Chukwujekwu Aneke sitting in Lagos south west Nigeria has ordered that Wema bank Plc  and its six officials cited for contempt for disobeying the order of the court should appear before the court on Monday 17th day of February, 2020 to explain why they should not be sent to prison for flagrant disobedience of the extant positive orders of the court.

The affected officials of the bank are the Managing Director Ademola Adebise,the Chairman Babatunde Kasali, Deputy Managing Director Moruf Oseni, Executive Director Wole Akinleye Executive Director Folake Sanu and the Company Secretary Johnson Lebile.

The order of the court was sequel to two different similar garnishee suits filed before the court by a Lagos lawyer Chief Ajibola Aribisala SAN on behalf of Heritage bank, the first one against Ondo state Government and the Attorney General of the state, and the second one against Idanre local Government Universal Basic Education Authority, Ondo state Government and Attorney General of Ondo state

Heritage bank having obtained judgement against the two parties at an Ondo state high court in the sum of N1billion out of which N600million has been paid leaving balance of about N600million,while the judgement against Idanre local Government Universal basic Education Authority  is in the sum of N405,431,460 .98

Heritage bank then initiated garnishee proceeding against  the parties in the two suits.

On  6th of December 2019 the   court made the order nisi against Wema bank Plc absolute attaching the principal judgement sum Of 134,034,175.41,Wema bank Plc,thereafter deposed to affidavit that Ondo state Government has N744,771,993.3 standing to its  credit and same has been attached in compliance with the order of the court,but the bank refused to comply with the order of the court to pay the money despite the demand made by Chief Aribisala SAN on behalf of Heritage bank.

However Wema  bank in its response  letter claimed not  to comply with the order of the court based on the notice of  Appeal and Motion for stay of execution filed by the Ondo state Government at the court of appeal.

Thereafter Heritage bank caused the Registrar of the court to issue form 48, Notice of consequence of disobedience of order of the court against the officers of the bank cited for contempt, still the order of the court was not obeyed,hence the need for the issuance of form 49 asking the parties cited for contempt to show cause why order of committal should not be made against them for flagrantly disobeying the orders of the court.

On the 5th day of February, 2020 when the matter came up for hearing, Chief Ajibola Aribisala SAN, in his argument and submission before the court contended that it is obvious that parties cited for contempt are not in court and that the court must compel their presence in court, he then urged the court to issue bench warrant against official of Wema bank Plc cited for contempt to compel them to appear in court.

However the counsel for the official of Wema bank cited for contempt, Mr Wemimo Ogunde SAN contended that the form 49 was filed and served on the parties and before then Wema bank has already filed an application for stay of execution pending appeal and that the record of appeal has already been entered at the court of appeal.

Consequently,after listening to the two parties  the court adjourned till 14th February 2020, for ruling.

Justice Aneke in his ruling relating to the two suits  said “The said appeal lodge by the parties cited for contempt has nothing to do with the form 49 served on them for their failure to comply with the order of the court in respect to the order made absolute against Wema bank Plc.

Accordingly, the parties cited for contempt are hereby given 72hours from today till Monday 17th of February, 2020 to appear before the court to explain why committal order would not be made against them for flagrant disobedience of the extant positive orders of the court.

A Federal High Court in Lagos on Thursday ordered the remand of four directors of Petrol Union Oil and Gas Company Ltd., over alleged £2.556 billion fraud.

The defendants are: Abayomi Kukoyi; Kingsley Okpala, Chidi Okpalaeze and Emmanuel Okpalaeze.

The judge, Mohammed Liman, ordered the remand of the defendants at a custodial centre after their arraignment on a seven-count charge of fraud preferred by the Economic and Financial Crimes Commission (EFCC).

The charge is marked FHC/L/46c/2020.

The defendants are charged alongside one Isaac Okpala, described as deceased.

They were alleged to have committed the offences from 1994 to 2007.

The anti-graft agency alleged that they fraudulently procured a Barclays Bank cheque for £2.556 billion made payable to Gladstone Kukoyi and Associates on the pretext that it was meant for the construction of three refineries and petrochemical complex in Nigeria.

They were also alleged to have, sometime in April 2007 uttered a statement of account in the name of Goldmatic Ltd., purportedly issued by the Central Bank of Nigeria (CBN), falsely claiming that the CBN had in its custody 2,159, 221, 313.54 pounds in favour of Goldmatics Ltd.

The EFCC also accused the defendants of forging a Barclays Bank cheque dated December 29, 1994 for £2.556 billion made payable to Gladstone Kukoyi and Associates, purporting the said cheque to be meant for foreign investment in the construction of three refineries and petrochemical complex in Nigeria.

The commission equally alleged that the defendants attempted to obtain money by false pretences by demanding £2.556 billion from the Union Bank of Nigeria and the CBN as proceeds of the Barclays Bank cheque.

EFCC said the alleged offences contravene the provisions of Sections 1(2), 1(2)(a) of the Miscellaneous Offences Act of 1990.

The commission also noted that the alleged offences contravene the provisions of Sections 467(2)(I), 468 and 501of the Criminal Code Act of 2004.

The defendants, however, pleaded not guilty to all the counts.

After their pleas, EFCC prosecutor, Rotimi Jacobs (SAN), asked the court for a trial date.

He had prayed the court to remand the defendants.

The defendants, however, through their counsel, informed the court that they filed bail applications.

The judge adjourned the case until February 19 for hearing of the bail applications.

He ordered that the defendants should be remanded pending the outcome of the bail applications.

Fast rising gospel music sensational singer, Philadelphia Ekesiena, well known by the stage name Philadelphia Kes, has released her debut single titled, He Came Through.

The song according to the Delta State native is a sincere appreciation to God, who has unswervingly shown Himself strong in her life and remained faithful to her year in year out.

Commenting on what inspired the title of song, Philadelphia Kes said: “There was a time in my life where depression, regular mood swings were the order of the day. Then my cousin came up with the song and we co-wrote it; and that was how I was able to really express myself through the lyrics of the song.”

She stated that the song took about five years to come manifestation: “Because we had the song since my university days and decided to revamp it four years after graduation. As we maintain a heart of gratitude in this season, this powerful song will stir up a wellspring of love in our hearts to appreciate God like never before.”

On her journey into music, the gospel act says, “I literary grew up in church, joined the children’s choir at a very tender age and became one of the best at the time. While in high school, I still kept at it and during university days was when I knew singing was my thing and decided to do it for real. I had my B.Sc in International Economics from Ternopil National Economic University, Ukraine.”

What informed your choice of gospel music over secular?

“I grew up in church and gospel music is everything I‘ve known as a child up until now, even though I’m a wide listener and I listen to diverse genres. So, the love for gospel came naturally. Growing up as a child I did music for fun, I didn’t think of becoming a professional someday but I kept sharpening up the craft.

“Like I said, it was when I went to the university to study and became an economist that I realised that my love for music is beyond just doing it for fun and that I’d like to do it full time. So my undying love for music inspired my decision to go into it fully.”

Assessing the Nigerian gospel music industry, the gospel singer said, “Gospel music in Nigeria is still growing; it’s got a lot of potential even across West Africa and the entire world. What we have so far are a lot of very talented gospel artistes but need help in the area of awareness, promotion, distribution and production.”

“Radio stations, TV stations and other media platforms need to promote us more. That way we will get the maximum coverage. We need exposure. So the gospel music industry in Nigeria is coming up and we ‘ve got room to improve but we are doing well,” she added.

Asked how she intend to navigate and stand out in the overcrowded Nigerian gospel industry, the third of six children says, “I have a sound I’m set to project, I want to be as original as possible, with that I’m sure I’ll stand out and in turn break even.”

For her good music, achieving a set goal, and a couple of other things gives her joy, while she is easily turn you off by lies, deceit, bad smell.

Where do you see yourself in five years?

“I see myself proclaiming the name of Jesus around the world and anywhere my feet step on. I’m sold out to making Jesus famous through my songs as that is the whole essence of salvation. I hope to own or co-own a record label someday where I can sign upcoming artistes to relief them from some of the stress I’m passing through now, and make music making becomes easier and fun-filled.”

Commenting on the challenges as a gospel artiste and how she copes with them, Philadelphia Kes said, “Really, it’s not easy putting out good music; I mean the whole process of producing, engineering, promoting. Having to keep up with the financial commitments has been a major challenge but somehow God makes a way and things are sorted

A fan of Efe Nathan, one of Nigeria’s widely celebrated female gospel artistes, and American praise and worship leader, Maranda Curtis, who she hopes to be like someday.

“I love Maranda Curtis; when I grow up I want to be like her. I love Efe Nathan as well; her vocal strength is one, which I covet. So I keep working hard every day.”

What other talents do you have outside music?

“I’m very good with clothes; fashion generally such that I have plans to set up a fashion outfit soonest.”

On if she scared that gospel music could only bring fame and not sustainable income, the light skinned has this to say: “I am never scared. As a child of God we are not meant to be. I have plans for show business and the more technical side of the industry. Being famous for the RIGHT reason is good and I am sure sustainable income will come with the territory God willing.

“Gospel music is gaining popularity and positive attention to Nigeria. A few Nigerian artistes are already representing us well and there is room for more artistes. Many artistes are now working with reputable record labels who can help improve and promote their work positively. We are making progress and by the way thanks to media outlets like yourselves for the love and support you continue to shower on us,” said Kes.

Is she in any relationship? What does she think about having a relationship at this stage of her career? “I am currently not in a relationship as I just want to concentrate on my career for now. I have a very loving and supportive family. Growing up my parents noticed that I was always humming and sometimes singing to songs so they encouraged me and I developed it with the help of vocal trainers and other professionals,” she concluded.

The Peoples Democratic Party (PDP) has asked Adams Oshiomhole, national chairman of the All Progressives Congress (APC), to be mindful of his utterances over the judgement of the supreme court on the Bayelsa governorship election.

The supreme court had sacked David Lyon, candidate of the APC in the March election, ordering the Independent National Electoral Commission (INEC) to issue certificate of return to the candidate with the second highest number of votes.

PDP came second in the election and is expected to be favoured by the ruling.

But at a press conference in Abuja on Thursday, Oshiomhole said Duoye Diri, the PDP candidate did not meet the requirements of being sworn in as governor.

The APC chairman said the implication of the ruling is that from Friday, the state would be without a governor.

However, Kola Ologbondiyan, spokesman of the opposition party, said the APC national chairman is plotting to foist violence on Bayelsa.

Ologbondiyan asked Oshiomhole whom he described as “factional national chairman” to steer off Bayelsa on Friday.

“The people of Bayelsa state know as a fact that the Independent National Electoral Commission (INEC) under our laws, cannot take instructions from any individual, let alone a factional national chairman of a dysfunctional political party like the APC,” he said in a statement.

“The PDP, as a law-abiding party, counsels Oshiomhole to rein in himself and desist from all odious designs against Bayelsa state, her people and government.

“The PDP also calls on the people of Bayelsa state to remain calm as their mandate has been restored and cannot be taken away by the ranting of any individual who has no stake whatsoever in the wellbeing of his own home state.”

It is often more convenient to possess the ashes of great men than to possess the men themselves in their lifetime. But in Tony Elumelu’s case, the reality is remarkably different; Nigeria is extremely lucky to possess Elumelu. This is because the maverick banker elevates fiscal management and entrepreneurship to an art form, for the benefit of the country.

The excellence of his art however, lies in its intensity; Elumelu is specially gifted at taming the odds and making all disagreeable evaporate like mountain dew on grains of sand. And he does not have to force it; he simply faces challenges with courage, matchless equanimity and devotion to beauty and truth.

Predictably, his ascent to the top was never a walk in the park. It required paying his dues and shunning the frivolous. Hence you would never find Elumelu concentrating on anything beyond business and philanthropy.

Yes, frequently likened to a champion and oftentimes, a business genius, Tony Elumelu effortlessly depicts the image of a modern day General of Commerce. Tony, among other things, projects a benevolent culture of industry and humanity. Through unparalleled modesty and hard work, he dispels the notion that entrepreneurial success constantly conflicts with excellent citizenship of humanity.

Mr. Chairman, as he is respectably called, also understands that to be a man of honour and substance requires indeterminate exploits at dawn through dusk in honest industry. He knows that honour and longevity, like celery, flourishes in the dark shade – far from the blaze of disconcerting neon lights.

However, being a symbol of African enterprising spirit of passion, unadulterated commitment, resilience and hardwork has not been without commensurate accolades.

No doubt, the recent appointment of four women into top executive and non-executive directorship positions in Transcorp underscores the predilection of Elumelu, Chairman, Heirs Holdings, the parent company of Transcorp, for identifying excellent female leaders and promoting them to important leadership positions.

Being the father of five beautiful girls is enough reason for Tony Elumelu, chairman of the UBA Group, to have a soft spot for women. But for one of Africa’s most successful entrepreneurs, it goes beyond that. In an era when companies are being forced to redress inequality within their teams, Elumelu has proved to be sensitive and serious about gender equality. And he is leading the charge of the few men giving women a shot at leadership positions.

Recently, the Transnational Corporation of Nigeria Plc, where Elumelu is also chairman, announced significant appointments to its board and executive management. Owen Omogiafo was appointed as President/Group Chief Executive Officer with effect from March 25, 2020. She will succeed Valentine Ozigbo, who is retiring to pursue a career in public service. Omogiafo is currently the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality.

Also appointed is Dupe Olusola as the MD/CEO of Transcorp Hotels Plc. Olusola is currently the Group Head, Marketing, at United Bank for Africa Plc and has over 21 years of corporate experience including being the former MD/CEO of Teragro Juice Concentrate Plant. Helen Iwuchukwu, currently the Group Company Secretary of Transcorp Plc, has been appointed as an Executive Director/Chief Operating Officer of the company.

Other appointments are; Christopher Ezeafulukwe, hitherto the Executive Director, Business Development and Legal, Transcorp Plc, as the MD/CEO of Transcorp Power Plant, Ughelli; and Okaima Ohizua as Executive Director/Chief Operating Officer of Transcorp Power Ltd. Elumelu was quoted as saying that he was confident that the newly appointed chief executives and non-executive directors would further strengthen Transcorp’s mission of improving lives across Nigeria.

However, these gender-sensitive appointments are not peculiar to just Transcorp. In UBA and other companies that Elumelu has controlling or considerable stakes, the story is the same. In UBA, women like Foluke K. Abdul-Razaq, Owanari Duke, Erelu Angela Adebayo and Angela Aneke serve as non-executive directors while Noellie Tiendrebeogo, Sarata Kone, Chioma Mang, Nkechi Arizor and Adesola Yomi-Ajayi serve as chief executive officer, UBA in Burkina Faso, Cote D’Ivoire, Gabon, Liberia and New York respectively.

Amie Ndiaye Sow and Abiola Bawuah are the Regional CEO 1 and 2, West Africa. Back home, Bola Atta, Dupe Olusola and Patricia Aderibigbe are Group Heads, Corporate Communication, Marketing and Human Resources respectively. Emem Usoro is the Directorate Head Abuja & North Central Bank.

At Africa Prudential, Mrs Eniola Fadayomi, MFR, serves as Chairman while Uzoamaka Oshogwe, is the Managing Director/CEO, Afriland Properties. Likewise, at Avon Healthcare Limited, Dr Awele Vivien Elumelu is the chairperson while Adesimbo Ukiri is the Chief Executive Officer. At the Tony Elumelu Foundation, the leading African philanthropy committed to empowering African entrepreneurs, Ifeyinwa Ugochukwu serves as CEO. Appointed in 2018, Ugochukwu is the first African to become the Chief Executive Officer of the Foundation.

According to Elumelu, “These appointments demonstrate our commitment to nurturing talent and rewarding success. We have a deep pool of highly qualified and dedicated employees, who can be challenged with more responsibility in attaining our corporate vision.

“We remain committed to diversity and inclusion; are delighted by the depth and quality of experience that this leadership team brings to our group. These appointments further indicate our internal succession capacity and strong corporate governance practices.”

Highlife music legend, Sir Victor Olaiya, has died.

HE died at age 89.

He died after a brief illness.

He died at the Lagos University Teaching Hospital on Wednesday.

His death was announced by the Managing Director of Evergreen Music Company Ltd, Bimbo Esho.