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Tag: Directors

  • Fired CBN directors turn down Cardoso’s offer to return as consultants

    Fired CBN directors turn down Cardoso’s offer to return as consultants

    Some directors recently fired by the Central Bank of Nigeria (CBN) have rejected the offer made to them by the bank’s leadership to return as consultants.

    Recall that over 500 staff have been sacked since the assumption of Olayemi Cardoso, who was appointed the bank’s governor by President Bola Tinubu in September 2023.

    Cardoso, who wanted a clear departure from the mismanagement that took place during the tenure of his predecessor, Godwin Emefiele, embarked on a clean sweep of the CBN staff while planning to inject new hands into the system.

    While the many of the staff were summarily dismissed, many of the directors were advised to voluntarily resign “so that they won’t be disgraced through sack and in order for them to receive their benefits”.

    Speaking further, a source said due to the economic challenges in the country, especially as it relates to the stability of the naira and forex, the CBN has been struggling as it seriously needs the experience of some of the directors who were unceremoniously shown the way out.

    According to him, the leadership of the bank reached out to some of the sacked directors to return and work as consultants but they rejected the offer.

    “Honestly, I must tell you the CBN governor is trying his best. Those working in the CBN will tell you the man is working round the clock to ensure things don’t get out of hand. I won’t lie about that. However, what people want is result. If you are doing your best and yet no result to show for it, it means your best is not good enough”.

    “However, the mass sack of the staff he has embarked upon, especially the directors have gravely affected the operations of the CBN. Many of these directors were holding key strategic positions such as financial policy and regulation, statistics, trade and exchange and so on. Some of the vacant positions are yet to be filled”.

    “The bank leadership recently wrote to some of the sacked directors and asked them to return and work as consultants. I know two of them who turned down the offer.

    They said the CBN governor should go and look for consultants himself as he was the one that unjustly sacked them”

    “They said he (Cardoso) reached out to them to work as consultants because he knew they had something to offer. When you know the experience of these directors are needed at this critical time in our nation’s economy, why sack them in the first place?” our source said.

    The National Assembly has already taken up the issue as the House of Representatives has directed its Committee on Banking and other Financial Institutions to investigate the circumstances leading to the mass sack.

  • 74 directors bow out of FCTA, FCDA

    74 directors bow out of FCTA, FCDA

    No fewer than 74 Directors have bowed out of the Federal Capital Territory Administration (FCTA) and Federal Capital Development Authority (FCDA), having clocked 60 years of age or 35 years in service.

    FCT Minister, Mr Nyesom Wike, stated this in Abuja on Sunday, at an event organised in their honour.

    Wike said that the FCT Administration would continue to tap from their experience and expertise to accelerate growth and development in the federal capital, Abuja.

    Represented by the acting Permanent Secretary, FCTA, Mr Udom Atang, the minister expressed optimism that the wealth of experience of the retirees would be of great value to the administration.

    He said that the batch of the retirees were among the earliest staff of the FCTA and FCDA, and, therefore, played crucial roles in building Abuja from the scratch to its current state.

    He said that because of their institutional knowledge and experience, the FCTA would be reaching out to them for in-house training to coach and mentor the younger ones.

    According to him, nobody can do it better than those “who have been here before.”

    The minister restated the FCTA’s commitment to improve welfare of staff under the “Renewed Hope” agenda of the current administration.

    Also speaking, the acting Director, Reform Coordination and Service Improvement, Dr Jumai Ahmadu, commended the retirees for dedicating a significant portion of their lives to public service.

    “These directors have exhibited exemplary leadership, dedication, and professionalism throughout their tenure, serving as beacons of integrity and commitment to the welfare and progress of the FCTA.

    “Their unwavering dedication has contributed to the advancement of our administrative processes, the implementation of crucial policies, and the successful execution of numerous projects that have transformed the landscape of the FCT,” Ahmadu said.

    Some of the retirees who spoke to journalists on the sideline of the event, encouraged those still in service to build on their achievements for accelerated growth and development of the territory.

    One of them, Dr. Matthew Ashikeni, urged those in service to focus more on adding value to the system, rather than what they can gain from it.

    Ashikeni, who retired as Director, Special Duties at the FCT Health and Environment Secretariat, also tasked the government to invest more in primary health care to attain universal health coverage.

    The News Agency of Nigeria (NAN) reports that the 74 retirees bowed out of service in the third and fourth quarter of 2023.

  • FG appoints 46 new directors for aviation agencies

    FG appoints 46 new directors for aviation agencies

    The federal government has named 46 new Directors to oversee agencies within the Ministry of Aviation and Aerospace Development.

    In statement signed by the Head of Press and Public Affairs at the Federal Ministry of Aviation and Aerospace Development, Odutayo Oluseyi, on Thursday, said, the appointment is coming a week after the Federal Government sacked Chief Executives of Aviation agencies followed by directors in the ministry.

    The statement reads:

    “In line with the Renewed Hope Agenda of Mr. President Bola Ahmed Tinubu, the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, CON, FCIArb. (U.K), has released the list of newly appointed Directors of the Agencies under the Ministry.

    “All the newly appointed Directors are to get in touch with the Director, Human Resource Department of the Ministry of Aviation and Aerospace Development to collect their letters of appointment as the appointment is with immediate effect.

    “Also a new Directorate called the Cargo Services has been created at the Federal Airport Authority of Nigeria to ameliorate issues besetting the sector.”

    Ministries and Agencies Affected
    The agencies involved are the Federal Airport Authority of Nigeria (FAAN); Nigeria Metrological Agency (NiMET); Nigeria Airspace Management Agency (NAMA); Nigeria Civil Aviation Authority (NCAA) and Nigeria Safety and Investigation Bureau (NSIB).

     

  • Retirement gale sweeps through INEC, affects 10 Directors

    Retirement gale sweeps through INEC, affects 10 Directors

    Ten directors of the Independent National Electoral Commission (INEC)  in charge of various departments have formally retired after reaching the obligatory retirement age of 60 years old, while some had to retire after attaining  35 years in service.

    This was made known on the INEC official data on Sunday.

    INEC National Commissioner, Prof. Mohammed Adams, congratulated the directors on their retirement during the send-off ceremony on Sunday in Abuja.

    “As you retire you shouldn’t at any time worry yourself about the past, but the future.

    “Don’t think this is the end of the road. This is the beginning of another journey in your lives because you are all professionals in your respective fields,” he said.

    Adams urged them to spend their retirement years doing meaningful work that would pay well.

    He told active-duty personnel not to be afraid of retirement, but to carve out a niche for themselves in whatever capacity they found themselves.

    “We should be happy with whatever position you find yourself; be grateful to God and create a niche for yourself,” he said.

  • PSR: Directors snub FG, refuse to exit service

    PSR: Directors snub FG, refuse to exit service

    The Ministry of Information and Culture issued a fresh circular directing Directors affected by the new Public Service Rule(PSR) 2021 to immediately exit the service but about 10 directors in the Federal Capital Territory Administration who have spent over eight years in office have failed to proceed on mandatory retirement almost one month after the newly revised Public Service Rules became operational.

    The recent circular addressed to “All Directors/Heads of Unit” of the Ministry of Information on behalf of the Permanent Secretary by Ms Equere E( HRM), the affected Directors were instructed to handover in accordance with the revised PSR.

    The circular dated August 17, under the heading ”Implementing The Revised Public Service Rule” reads:

    “In furtherance to our earlier circular ref. No FMCT/PS/010/11/113 dated 10″ August, 2023 on the above subject matter and in compliance with PSR 021210.

    “I am directed to request you to as a matter of urgency, hand over to the next most senior officer in your office and proceed immediately on your pre-retirement training.

    “You are hereby kindly requested to accord this matter the urgency it deserves.

    “Please accept the assurances of the permanent secretary sincere regards.”

    The directors were said to have spent between nine and 12 years on the directorate cadre and were required to turn in their letter of retirement in compliance with the PSR which took effect from July 27, 2023.

    The new rule was expected to affect over 500 directors who have stagnated in their positions for eight years or more.

    Recalled that the Head of Civil Service of the Federation, Folashade Yemi-Esan had in a memo dated July 27, addressed to all Permanent Secretaries, Accountant-General of the Federation, Auditor-General of the Federation and Heads of Extra Ministerial Departments, ordered strict compliance with the revised rules.

    The new rules also introduced a tenure policy for permanent secretaries who are now required to spend four years in office which is renewable subject to performance.

    According to The Punch, sources at the FCTA said the Director of Human Resource Management, Bashir Muhammad, and his counterpart at the Christian Pilgrimage Board, Dabara Vingo and others who were affected by the rule have yet to vacate office almost a month after the directive became operational.

    It was gathered that Muhammad recently requested a three-month tenure extension from the FCTA Permanent Secretary, Olusade Adesola.

    An official stated, ‘’No fewer than 10 directors who have spent between nine and 12 years in office have refused to vacate office or retire as stipulated by the revised PSR. In fact, the Director of Human Resource Management has just asked the permanent secretary for three months’ extension in office.

    ‘’Though the request has not been granted, everyone in FCTA is worried by the refusal of the concerned officials to comply with the rules. We are hoping the FCT Minister, Nyesom Wike would intervene speedily.’’

    Ironically, Muhammad had in a circular dated August 9, 2023, drew the attention of the leadership of the FCT Administration to the HoS directive on the implementation of the PSR.

    The letter with reference number: FCTA/HRM/ 141145/Vol.I was addressed to the Executive Secretary, Federal Capital Development Authority; Secretaries, Mandate Secretariats; Heads of Departments, Agencies and Parastatals, Coordinators and Directors, FCTA Common Services Department and all staff.

    It read, ‘’I am directed to refer you to the circular number: HCSF/SPSO/268/T3/2/37 of 27th July, 2023 from the Office of the Head of Service of the Federation and to inform you that the revised Public Service Rules has become operational in the services of FCTA with effect from 27th July, 2023.

    ‘’In this regard, you are to ensure full compliance with all the provisions of the revised PSR, particularly the provision of section 020909 on tenure policy for directors or its equivalent on Grade Level 17. Please, ensure strict compliance with the contents of this circular.’’

    Muhammad could not be reached on Thursday as calls to his phone indicated it was switched off.

    However, the FCTA Director of Press, Muhammed Sule, explained that the concerned officials had been directed to retire via a circular.

    A source at the Federal Ministry of Health said that all the directors affected by the tenure policy have retired as directed by the Head of Service.

    “For instance, the Director, Public Health, Federal Ministry of Health, Dr Morenike Alex-Okoh has left; the Director of Family Health, Dr Boladale Alonge has gone, and many others. The ones I know personally that have retired are about seven,” the source said.

  • Seplat takes immediate steps to counter interim court orders against its officers

    Seplat takes immediate steps to counter interim court orders against its officers

    Nigeria’s leading oil and gas Company; Seplat Energy said it was already aware of moves to promote certain media publications to the effect that the Federal High Court, presided by Hon. Justice I. E. Ekwo, sitting in Abuja in suit number FHC/ABJ/CS/626/2023 – Juliet Gbaka & 2 others v. Seplat Energy Plc & 13 others has granted ex parte Interim Orders against Seplat Energy and some of its Officers.

    In a statement on Thursday, Mrs. Chioma Afe of Seplat Communications & External Affairs, said “the Interim Orders, which are yet to be served on the Company or any of the affected Officers, primarily restrain the Board Chairman, the named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company.

    “The Company, as a law-abiding entity, has defended against the Interim Orders by immediately filing an Appeal and a Motion for Stay of Execution of the Orders. Seplat Energy has been advised by its legal team that the Interim Orders, which are yet to be served on the Company or its officers, cannot be enforced until the Court of Appeal has heard and determined the Appeal and application for Stay of Execution.

    “This petition is a third in the series of duplicative petitions filed by purported minority shareholders between March and April 2023, as part of orchestrated attempts to damage the Company in response to its unrelenting efforts to improve corporate governance by eliminating related party transactions and implementing other corporate governance initiatives.”

    The Company previously announced that:
    • The Federal High Court in Lagos, presided over by Hon. Justice Aneke, in Moses Igbrude & 4 ors V. Seplat Energy & 2 ors, has vacated the ex parte Interim Orders that required the Company’s CEO to step aside.

    * The Federal High Court in Abuja, presided over by Hon. Justice Ekwo, in Federal Republic of Nigeria V. Seplat Energy & 8 ors, formally dismissed the Immigration Charge against the Company and some of its Officers, and fully discharged all named Officers. This discharge followed the Notice of
    Withdrawal/Discharge filed by the Director Legal of the Nigeria Immigration Service and the company’s cooperation with the immigration authorities.

    • The Federal High Court in Abuja, presided over by Hon. Justice Ekwo, in Boniface Okezie & 4 ors. V. Seplat Energy & 9 ors, refused to grant to the Petitioners’ request to grant ex parte Interim Orders restraining the Company from holding its AGM. Seplat Energy remains relentless in its commitment to governance and operational excellence.

    It is interesting to note that Hon. Justice I. E. Ekwo has presided over three out of the four cases involving Seplat and some minority shareholders.

    The Company is poised to diligently continue to defend against these deliberate court actions, and remains confident and hopeful that the courts will appropriately address these unending litigations on the same.

  • NAFDAC: New acting D-G to convene meeting with directors

    NAFDAC: New acting D-G to convene meeting with directors

    The acting Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Dr Monica Eimunjeze, will on Tuesday convene a meeting with the directors of the agency.

    The Director of Public Affairs of the agency, m, told newsmen in an interview on Saturday that the meeting is for the D-G to disclose her areas of focus.

    He said that the NAFDAC D-G would also seek the support of the directors to excel in her new task of piloting the agency’s affairs.

    Abubakar said “the new D-G wants to hit the ground running, this is why she has decided to convene a meeting with directors of the agency on Tuesday, Nov. 22.

    “She wants to touch on what will be the focus of her administration, using the SWOT analysis and move in quick succession.

    “What I mean by SWOT analysis is for her to look at the Strength, Weaknesses, Opportunities and Threats for the agency.

    “The meeting will also be looking at gap analysis, this is the process companies use to compare their current performance with their desired, expected performance and look whether we are meeting our expectations.

    “All these will be geared toward improving the system.”

    The appointment of Eimunjeze followed the expiry of the tenure of Prof. Mojisola Adeyeye on Nov. 2.

  • INEC redeploys 2 RECs, 8 directors

    INEC redeploys 2 RECs, 8 directors

    The Independent National Electoral Commission (INEC) has redeployed two Resident Electoral Commissioners (RECs) and eight directorate level members of staff.

    The commission disclosed this in a statement by National Commissioner and Chairman, Information and Voter Education Committee, Festus Okoye in Abuja on Tuesday.

    The redeployed RECs according to Okoye were Dr Cyril Omorogbe from Cross River to Akwa-Ibom; and Dr Alalibo Sinikiem from Edo to Rivers.

    The eight directors redeployed were Paul Omokore from Planning and Monitoring Department, Headquarters to be the Director of ICT at the Headquarters, Abuja.

    Also the Director of ICT, Chidi Nwafor has been redeployed from the headquarters to Enugu as the state Administrative Secretary.

    Similarly, Mr Chima, the Administrative Secretary, Anambra State was directed to resume as the Director, Planning and Monitoring Department, Headquarters, Abuja; while Mr Jude Okwuanu, the Administrative Secretary of Enugu State, has been moved to Anambra State as the state Administrative Secretary.

    Others include Usman Wase, the acting Director, Human Resource Management, Headquarters redeployed as acting Administrative Secretary, Nasarawa State; while Mr Salisu Garba the Director in the Electoral Operations Department was deployed to take over as Director Procurement, Headquarters, Abuja.

    The commission also redeployed the acting Administrative Secretary, Waziri Zanna FCT, to be acting Director, Human Resource Management, Headquarters, Abuja.

    The statement also said that Godwin Edibo, the acting Administrative Secretary of Nasarawa State is to resume as the acting Administrative Secretary of FCT.

    Okoye explained that the redeployment was in line with the extant policy.

    He said that the redeployments/postings take immediate effect, while handing and taking over should be concluded on/or before Friday Aug. 26.

    Okoye recalled that on March 24, the commission redeployed 385 members of staff nationwide.

    He said that redeployment and posting was a routine exercise.

  • Buhari nominates 4 persons as CBN board directors [Full names]

    Buhari nominates 4 persons as CBN board directors [Full names]

    President Muhammadu Buhari has nominated four persons for appointment as Non-Executive Directors of the Board of the Central Bank of Nigeria (CBN).

    This is contained in a letter dated July 21 and read at Tuesday’s plenary by Senate President, Ahmad Lawan.

    Buhari in the letter, said that the request was made in accordance with section 10(3)(a) of the Central Bank of Nigeria (Establishment) Act 2007.

    The nominees included: Prof. Mike Obadan (South-South), Prof. Justitia Nnabuko (South-East), Prof. Ummu Jalingo (North-East), and Mr Adeola Adetunji (South-West).

  • ASO Savings & Loans Plc Repositions – Holds AGM, Shareholders ratify appointments of seven new Directors.

    ASO Savings & Loans Plc Repositions – Holds AGM, Shareholders ratify appointments of seven new Directors.

    In its bid to remain the Mortgage Bank of choice in Nigeria, ASO Savings & Loans Plc on Wednesday held its 16th and 17th Annual General Meeting in the ancient Commercial City of Kano.

    The AGM which was held to approve the accounts of 2013 and 2014 financial year and also ratify the appointment of RISIKATU LADI AHMED as Managing Director/CEO by shareholders based on approval by the Central Bank of Nigeria effective from 1st of May, 2021.

    The shareholders also ratified the appointment of seven new executive directors namely Abdul kofarsauri (Non -Executive), Umar IIiya Damagum (Non – Executive), Isiyaku Ismaila (Non – Executive), Daniel Dayo kunle (Independent director) and Henry Semenitari (Independent director)
    and two executive directors namely Richard Femi Bello and Enesi Makoju.

    The shareholders by consecus appointed the Boardroom guru and President of the Association of the Advancement of the Rights of Shareholders, Dr Umar Faruk to act as interim Chairman of the AGM.

    All decisions ratified at the AGM by shareholders were done through proxy attendance.

    The reconstituted Board, whose membership has been described by Finance industry experts as professionals with cognate experience, exposure and integrity are set to to reposition the bank and take it to greater heights with best industry practice and corporate governance.

    Since May 2021, under the leadership of Risikatu Ladi Ahmed,
    the bank has witnessed a positive turn around in its fortunes through an aggressive loan recovery drive and implementation of new business plan to revitalize and bring the bank back to the path of growth and profitability.

    The meeting received, approved and adopted the company’s Audited Accounts for the year ended 31st December 2013 and those of the year ended 31st December, 2014. This was also done through Proxy Attendance as the Shareholders had already indicated their votes by completing and submitting their respective Proxy Forms.

    The shareholders elected three of their members- Ibrahim Oruma, Asya Abdullahi Umar and E-Amin Bello-as Shareholders’ Representatives on the Audit committee.

    ASO Savings & Loans Plc shareholders are optimistic that the bank is on the path of transformational change back to a leading Mortgage power house in the provision of Housing solutions in the country.
    Risikatu Ladi Ahmed is the first female Managing Director/ CEO of the bank and one of the 9 Female CEOs in banking that have been described as breaking the glass ceiling.