Tag: new MD

  • JSE listed firm Metrofile Group appoints new MD

    Jetrofile Group, information and records management company listed on Johannesburg Stock Exchange (JSE) has appointed  Babatunde Osho as it’s new Managing Director for Nigeria.

    Before this appointment,  Osho had worked with MCI International as a Senior Manager and NEC 3G Mobile Systems Limited in the UK as Head of Finance before joining MTN in January 2004 as Senior Manager, Business Analysis in the Finance Department. He later went on to become Chief Enterprise Solution Officer for MTN Nigeria and Chief Executive Officer, MTN Liberia.

    Osho brings to Metrofile decades of experience and a proven record of taking customer-centric technology companies to the next level.

    “Osho’s appointment is in line with Metrofile’s global growth strategy”, Pfungwa Gore Serima, Group CEO, Metrofile Holdings Limited said.   “In his new role, he will provide day-to-day leadership to our Nigerian team as we look to expand here and West Africa” he added.

    Speaking on the appointment,  Osho said: “I am glad to join the team at this time because Metrofile group is the leading data management platform in Africa and Nigeria remains an important market with great potential. I look forward to leading this growth initiative in this vital market.’

     

     

  • UAC Foods gets new MD

    The board of UAC Foods Limited has appointed Dr Oladele Ajayi as the Managing Director of the company. UAC Foods Limited is a joint venture company between UAC of Nigeria (UACN) and Tiger Brands Limited of South Africa.

    Ajayi holds a PhD in Mechanical & Process Engineering from the University of Strathclyde, United Kingdom and he is an alumnus of the Advance Management Program of Harvard Business School.

    Prior to his appointment, Oladele was the Special Adviser to the Federal Minister of Industry, Trade & Investment and a Non-Executive Director of GZ Industries.

    In 1989, he had joined Nigerian Breweries Plc as an Assistant Brewer and following several roles in technical, marketing and sales, both in Nigeria and overseas, was appointed Sales Director of Nigerian Breweries Plc. Thereafter, he was appointed Managing Director of Heineken, Hungary and later Managing Director, Central and East Africa sub-regions for Heineken International.

    He also served in many non-executive roles such as Chairman of Sierra Leone Brewery Ltd, Chairman of Brasserries et Limonaderies du Rwanda, External Director of Guinness Ghana Breweries Ltd and Director of Brasserrie de Bourbon, St Dennis, La Reunion.

  • Wema Bank appoints new MD as Oloketuyi retires

    Wema Bank Plc has announced the appointment of Ademola Adebise as its Acting Managing Director/Chief Executive Officer (MD/CEO). Adebise, who was previously the Deputy Managing Director (DMD) of the bank, replaces Segun Oloketuyi effective July 1, 2018.

    Adebise’s appointment is subject to the approval of the Central Bank of Nigeria (CBN). The bank also announced the retirement of Oloketuyi, after almost a decade at the helm of the bank.

    Adebise has been part of the bank’s Executive management team since 2009 and has played a pivotal role in the execution of the Strategic turnaround plan of the Bank. He has over 28 years’ experience in the banking industry (inclusive of four years in management consulting), and has worked in various capacities in Information Technology, Financial Control and Strategic Planning, Treasury, Corporate Banking, Risk Management and Performance Management.

    Before joining Wema Bank, Adebise was Head, Finance and Performance Management Practice at Accenture (Lagos Office) where he led various projects for banks in Business Process Re-engineering, Information Technology and Risk Management.

    He is an alumnus of the Advanced Management Program (AMP) of the Harvard Business School and a holder of a Bachelor’s degree in Computer Science from the University of Lagos. He also holds a Master’s degree in Business Administration (MBA) from the Lagos Business School.

    Adebise is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He is also an Associate of the Chartered Institute of Taxation and Computer Professionals (Registration Council of Nigeria). He is an honorary Member of the Chartered Institute of Bankers of Nigeria (HCIB) and a member of the Institute of Directors.

    The Board of the bank expressed confidence that Adebise’s appointment will lead to the continued transformation and growth of the bank as it positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.

    “On behalf of the Board and Management of the Bank, I want to thank Oloketuyi for his service and wish him the best in his future endeavours,” said Oluwole Ajimisinmi, Wema Bank’s Company Secretary and Legal Adviser.

    Oloketuyi was named MD/CEO of Wema Bank in June 2009, with the task of returning the bank to profitability, following the 2008 banking crisis which saw the collapse of many banks. At the time, Wema Bank had negative retained earnings in excess of N45 billion and was declared a bank in grave financial situation by the regulatory authority.

    However, under his leadership, the fortuneof the bank was completely turned around, leading to the recapitalisation of the bank and its return to profitability. The bank is now positioned to deliver dividends to shareholders.

     

  • Premium Pension gets new MD

    Premium Pension Limited has appointed  Umar Mairami as the new Managing Director.

    In a statement by an official of the Corporate Communication Department and signed by Aliyu Ali, the company said Mairami succeeds Wilson Ideva who formally retired from the company.

    The statement read: “Mairami is a seasoned banker of repute, a distinguished member of the Chartered Institute of Bankers of Nigeria (CIBN). He began his career with the then Habib Nigeria Bank Limited as a Trainee Officer of the Yola branch of the bank. As a professional, Mairami joined the then Intercity Bank Plc in 1999 where he served as an Executive Assistant to the Managing Director. He acquired experience having traversed and headed major strategic core banking groups which comprised Corporate Planning; Corporate Promotions; Credit Administration; Training and other aspects of banking covering Credit Management, Relationship and Branch Management as well as Branch Coordination at the bank’s Head Office.

    “He also served as Deputy General Manager, Group Head Corporate Services covering, Human Resources, Administration, Financial Control and Information Technology departments.

    As a result of the banking reforms of 2004 which ensued fusing of Intercity Bank with eight other banks to form Unity Bank, Mairami was appointed as the bank’s pioneer head of Human Capital Management department. He was also head of Asset Management Committee and subsequently resigned as Head of Operations of the bank’’.

    During his maiden briefing to the members of staff at his assumption of office, Mairami said, during his tenure, the company will be more customer centric in alignment with the vision and mission of the company.

    “We will stay close to our customers and do everything possible to serve them properly, our Customers will be at the beginning, the middle and end of our strategy”.  The new CEO further reiterated the commitment of the management to pay particular attention to capacity development to ensure that PPL staff remain professional.

    “Until his current appointment, he was an Executive Director Business Development and Investment with Legacy Pension Managers Limited.  In the course of his illustrious banking career spanning over two 20 years, he attended several local and international training programs and Business schools across the globe. He was a member of the Education Committee of the Chartered Institute of Bankers of Nigeria as well as Director of Northlink Insurance Brokers Limited.

     

     

  • Ovation, as new MD of Film Corporation engages filmmakers

    Ovation, as new MD of Film Corporation engages filmmakers

    THERE have been conjectures of another misfit in the new leadership of the Nigerian Film Corporation (NFC). But stakeholders in the motion picture industry appeared stunned, last Thursday, during their first meeting with the new Managing Director of the Corporation, Dr. Chidia Maduekwe, at the agency’s Lagos Office, where he showed profound understanding of the challenges facing the film sector.

    Every last line of Maduekwe’s speech was greeted with applause, and what more; a standing ovation at the end of the engagement.

    Now, it appears their fears have been allayed, because the new man spoke to their situations, and assured them of, not just a listening ear, but of government policies that will make their businesses thrive.

    According to Maduekwe, “Our film industry today is a net contributor to our national income. Its key performance indicators in the economy clearly show that if properly funded, it can become the single largest contributor to our national income. Indeed, I can confidently say here that we can move from the present two percent to over 10 percent net contribution to our Gross Domestic Product (GDP) within the next five years.”

    He noted that although the film industry has witnessed remarkable growth and development within the last one decade, its contribution to the national economy and job creation is yet to be fully tapped. “To achieve this,” he said, “we must in the first instance integrate the Nigerian film industry into the present administration’s economic diversification agenda,” adding that the administration of President Muhammadu Buhari is serious in reducing dependence on oil.”

    On the need for self-regulation among practitioners, the NFC honcho said, “I will work with you to ensure that MOPICON (Motion Picture Practitioners Council of Nigeria) comes out in a way that, globally, it would be accepted as a regulatory body of repute.”

    The MOPICON draft bill has been forward to the Minister of Information and Culture, Alhaji Lai Mohammed, who at the beginning of his tenure inaugurated a review committee for same.

    Maduekwe identified some of the challenges of the film industry to include obsolete law, funding, professionalism/ethics, lack of film production facilities, poor distribution and exhibition networks, as well as piracy and intellectual property protection.

    As a way of broadening the distribution platforms, the new NFC man harped on the use of internet and digital marketing as the present and future of movie business. “To advance the boundaries so far established,” he said, “we will collaborate and encourage the Nigerian Communications Commission (NCC) and other service providers to have a dedicated bandwidth access for Nigerian movie industry streaming and marketing. Through this strategy, multiple revenue streams to the creativity of our motion picture practitioners will be better enhanced.”

    On the much talked about piracy scourge, he said: “I believe you will give me your candid and professional advice on the best ways of solving this problem, which I believe has been in the drawing board for over 15 years. We would need to deploy a combination of stiffer legislation and technology to drastically reduce the presence of piracy demons in our industry. It makes nonsense of your creativity, it stiffens your creativity. If by the time you’ve burnt your midnight oil and come up with fantastic work, some other folks in Alaba market just feast on it – or Onitsha market, Kano market, Abuja market or even in Maiduguri market; you can’t rule it out – even Sambisa forest – and mass produce it and sell to Chad and other places – we are saying no to this.  The anti-piracy law by the government shall be on the front burner of the current NFC.”

    He expressed optimism for the positive contributions of Nollywood to the economy and cultural advancement of the country, saying; “South Africa is known for one of the best artillery bomb in the world, but here, we are still producing little firearm armament. But do you know that from Nollywood, you can change the narrative? In the same manner that John Kennedy, who was not a scientist but believed in America said before the end of the decade ‘we’ll put a man in the moon’. It came to pass, did it not? I am standing before you, I am not a professional like you, but we have shared commonality. I am a medical doctor by training. But medicine is not just a science, it is also an art. I and you have shared commonality. I and you believe in one thing, which is it can be great. I and you believe that we can turn things around and make this country greater than it is today, using movies to drive our economy, using movie to drive our technological breakthrough, using movies to drive our social re-engineering in the way we relate to one another, out inter-personal skills, our conduct to one another, using movies to drive away insurgency in our land, all these things are possible.”

    The second phase of the stakeholders’ forum was the introduction of panellists, drawn from among the filmmakers, who engaged other participants on possible solutions to the problems bedevilling the film sector. The exercise, according to Maduekwe, was to develop a roadmap for a new direction in Nollywood.

    “I’ve decided that we shall form three panels among you here to discuss some of these challenges to the Nigerian film industry and urgently come up with practical and applicable recommendation that will form part of our road map to government on how to develop this industry and integrate it into the socio-economic policy of this PMB administration,” he said.

    The NFC boss, who has chosen to hit the ground running, said, “This is action time. The panel will focus on the challenges in the film industry and proffer solutions…Today-today; not tomorrow,” he urged, saying; “No be action una say? We have rolled sound, we have rolled camera, so now is action… We need robust argument, and the audience could oppose the panel when necessary. Let me tell you something, my minister; the Minister of Information and Culture, Alhaji Lai Mohammed, has given me the mandate to come with a roadmap for a new direction in the movie industry that we can take to Mr. President and Mr. President will sign. So, whatever you say today is being recorded so you will not tell me you were not taken along. I want to take every body along!”  He said to a roaring applause.

    The panellists include Mrs. Uche Nwuka, Group Head, Creative Industry Desk at the Bank of Industry (BoI), Ms. Chioma Ude, Founder/CEO of Africa International Film Festival (AFRIFF), Nollywood actress Hilda Dukubo and film producer Opa Williams.

    Others are filmmakers Chris Ekejimbe, Lancelot Oduwa Imasuen, Paul Obazele, Emma Isikaku, Uzor Amadi, Baba Agba, Mrs Peju Adeyemi of Lagos State Film Censorship Board, President of Association of Movie Producers (AMP) Mr. Ralph Nwadike and Chairman of Audio Visual Rights Society, Mr. Bond Emeruwa.

    Other filmmakers at the event include Chief Eddie Ugboma, Kunle Afolayan, Iyen Agbonifo, and Mykel Parish.

  • Unity Kapital Assurance positions for growth with new MD

    Unity Kapital Assurance positions for growth with new MD

    Unity Kapital Assurance Plc has announced the resignation of the Managing Director/Chief Executive Officer, Michael D. Dogo, effective July 20, 2016.

    The Board of Directors, under the leadership of Aisha Azumi Abraham, said it made pre-emptive move to appoint a managing director to position the insurance company for its next growth phase.

    Sources said the board approved and forwarded Olatunji Oluyemi’s name, subject to regulatory approval of the National Insurance Commission (NAICOM), after its 39th Annual General Meeting (AGM) on July 20, at the Reize Continental Hotel, in Abuja.

    Oluyemi has held top positions in the industry and was former managing director of Royal Exchange Assurance.

    “Olatunji Oluyemi is a leader that understands how to work with people, and use knowledge and time to achieve significant results for stakeholders. He is known to have launched initiatives and significantly grow an operations balance sheet over a short period,” the insurance industry source said.

    The Nation learnt the decision to select an industry veteran would reassure investors, as management is focused on building a more efficient insurance firm.

    Unity Kapital Assurance Plc reported a gross premium income of N2.68 billion in 2015.

    The company’s books showed a net premium income of N2.09 billion for 2015 and an underwriting profit of N1.043 billion.

    Present profit is N321.9 million against N98.9 million the preceding year, while basic earnings per share rose 400 percent to five kobo per share from one kobo in 2014.

    The firm’s total assets meanwhile rose to N11.4 billion in 2015 from N10.8 billion in 2014.

    Unity Kapital Assurance came into existence following the insurance regulation of September 2015 which required Insurance Companies to recapitalize to the level of N3 billion for Non Life Companies and N2 billion for Life Companies.

    The firm has developed competences in Bond Insurance, Oil and Gas Insurance, Aviation and Engineering Insurance among others.

    The Board and Management of Unity Kapital Assurance are confident that the new MDs wealth of experience will be a great addition to the firm.

     

  • Skye Bank gets new MD, chairman as CBN takes over

    Skye Bank gets new MD, chairman as CBN takes over

    •‘Depositors’
    funds safe’

    A New helmsman has taken over at Skye Bank Plc. Mr Adetokunbo Abiru, a Harvard Business School graduate who headed Investment Banking at First Bank of Nigeria Ltd., is the Managing Director/CEO.

    Central Bank of Nigeria (CBN) Governor Godwin Emefiele announced the management and board changes, which led to the resignation of Group Managing Director Timothy Oguntayo and Chairman Olatunde Ayeni.

    Muhammad K. Ahmad, the pioneer Director-General/CEO of the National Pension Commission (PENCOM), is the chairman.

    Emefiele, who announced the changes at a media briefing in Lagos, said the regulatory action followed poor liquidity ratio and capital adequacy hitches, as well as rising cases of non-performing loans found to be hurting the lender’s balance sheet positions.

    He said the apex bank decided to act before the problems confronting the lender reached an irreversible state, adding that the appointments are solely to ensure a speedy restoration of the health of the lender.

    Emefiele also announced the sacking of all non-executive directors and independent directors on the board of the bank as well as the deputy managing director and the two longest-serving executive directors. But the more recently appointed executive directors will remain to ensure continuity and smooth transition.

    “These proactive moves have become unavoidable in view of the persistent failure of Skye Bank Plc to meet minimum thresholds in critical prudential and adequacy ratios, which has culminated in the bank’s permanent presence at the CBN lending window. In particular, Skye Bank’s liquidity and non-performing loan ratios have been below and above the required thresholds, respectively, for quite a while,” Emefiele said.

    According to Emefiele, the CBN had several meetings with the management and board of the bank as part of its strategy of close engagement whenever a bank’s financial or governance situation poses potential threats to the overall stability of the financial system.

    “Despite the expectation of relevant regulators, market watchers, financial analysts and interested stakeholders that Skye Bank should be doing much better than it is right now, we have seen about the opposite in reality,” he said.

    Emefiele assured customers and other stakeholders that Skye Bank is not in distress and remains healthy. He said although the bank’s liquidity ratio had been badly hurt, it is not at a point where depositors’ funds are threatened.

    “The CBN hereby assures depositors, shareholders and all relevant stakeholders that there is no reason for concern or panic as we seek their continued cooperation at this time. It is our expectation that the shareholders and remaining executive directors will work seamlessly with the new team to ensure that the fortunes of the bank are restored in the shortest possible time,” he said.

    Emefiele explained that since Skye Bank is a domestic Systematically Important Bank (SIB) with significant interconnectedness, the CBN would be failing in its duties if it does not take immediate action to nip the steadily declining health of the bank in the bud and correct the situation.

    “In view of the long grace period allowed the bank to correct the situation, we came to the conclusion that although the existing board had done its best to steer the ship, it had come to a realisation that it would be unable to bring the bank out of its present precarious situation. Fortunately, and in the overall interest of the bank, the Chairman and some board members have decided to resign their appointments from the bank,” he said.

    Ahmad is a seasoned public sector executive with over 35 years of distinguished experience spanning the public sector and the financial services industry. He is a pioneer member of the staff of the Nigeria Deposit Insurance Company (NDIC) where he became a director.

    He has been on the board of various companies and committees, including banks and not-for-profit organisations.

    Abiru, an accountant, was Lagos State Commissioner for Finance from 2011 to 2013 and is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN).

    Ahmad in a statement expressed optimism about the bank, given its vast potentials and strategic position in the economy. He stated that the bank is well positioned to deepen the retail and commercial banking services in the economy, having put in place the critical building blocks to win in this sector.

    He stated that the immediate priorities of the board and the new management team is to quickly  begin to leverage the huge investment in the enhanced branch network, technology and alternative channels to improve stakeholder value in a sustainable manner.

    He assured the shareholders, customers and depositors of the bank of his commitment to preserve their investments and deposits, while further assuring that the support and backing of the CBN and other relevant stakeholders have been obtained in this respect.