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Tag: managing director

  • C&F Porter Novelli appoints Tony Ajero as Managing Director

    C&F Porter Novelli appoints Tony Ajero as Managing Director

    Leading strategic communications firm, C&F Porter Novelli, has announced the appointment of the Rev. Canon Anthony Ajero as its Managing Director and Chief Executive Officer effective November 1, 2022.

    A consummate professional, Canon Ajero has more than three decades of post-graduation experience both on the agency and client sides with a specialization in public relations-led integrated marketing communications.

    Commenting on the appointment, Mr. Nn’emeka Maduegbuna, Chairman of C&F, said “the Board of Directors is pleased to welcome Canon Ajero, with his wealth of experience, to lead the management and staff of our premier and evolving consultancy.

    “He takes the helm at an inflection point when the Agency’s new thinking coalesces Public Relations, Reputation Management, and Purpose.”

    Mr. Maduegbuna added that “the Board looks forward to an even more glorious season for our multiple award-winning consultancy.”

    Similarly, Mr. Kelechi Nwosu, Supervising Director of the firm which serves as the hub for West Africa in the 60-nation Porter Novelli network, explained “for obvious reasons, our choice of MD/CEO was painstaking.

    “Coming at this time when C&F is celebrating the global network’s 50th anniversary, we are building upon the firm’s acclaimed leadership position in the industry.”

    Mr. Nwosu added that “with this appointment, the strength of our global network, our proven strategic tools, and talented team, clients and partners worldwide can expect even more impactful contributions to the multiple bottom lines.”

    Canon Ajero had his undergraduate education at the famous Jackson School of Mass Communication of the University of Nigeria; and his MSc in Mass Communication from the University of Lagos, Akoka.

    He started his career at Patike communication before moving to Insight, and later Taijo Wonukabe.  He would subsequently head the corporate affairs function in the then Standard Trust Bank (now UBA), First Atlantic Bank, and Broad Bank.

    He has attended numerous courses locally and internationally, and is a much-sought-after speaker on marketing communications, and volunteering, among others.

  • FMBN gets new CEO

    FMBN gets new CEO

    Hamman Madu has been appointed the new managing director of the Federal Mortgage Bank in the reconstitution bank.

    The appointment was approved by President Muhammadu Buhari, with a view to repositioning the bank as a core banking institution with core competence in mortgage finance.

    Recall that the President had, in January this year, appointed Mr Ayodeji Ariyo Gbeleyi, a Chartered Accountant and a well-known financial expert as Chairman of the Board.

    In the new Board, Hamman Madu representing the Northeast zone with a background of over 30 years in the mortgage industry is the Managing Director/ Chief Executive Officer.

    Other members are: Umar Zubaida, Executive Director, Finance and Corporate Services representing the Northwest zone; Chukwuma Kingsley, Executive Director, Business Development & Portfolio Management (BD&PM) representing the Southsouth zone; Mustapha Lukman Olayiwola, Executive Director, Loans & Mortgage Services (L&MS) representing the Northcentral zone; Asein Abimbola from the Southwest zone representing the Federal Ministry of works and Housing; Ejezie Sandra Nkechi, Southeast, representing the Public as well as two representatives of the Central Bank of Nigeria.

    The appointment of the Board takes effect from April 13, 2022 with the exception of the Chairman, Mr Ayodeji Ariyo Gbeleyi whose appointment took effect from January 5, this year.

     

  • CORRUPT PRACTICES: World Bank sanctions SoftTech IT Solutions and Services Ltd, Isah Kantigi

    CORRUPT PRACTICES: World Bank sanctions SoftTech IT Solutions and Services Ltd, Isah Kantigi

    An information technology and services company, SoftTech IT Solutions and Services Ltd, and its Managing Director, Mr Isah Kantigi, have been sanctioned by the World Bank for alleged corrupt practices.

     

    The firm, which was involved in the National Social Safety Nets Project, was sanctioned for 50 months while the managing director was sanctioned for 60 months.

     

    This was contained in a statement titled ‘World Bank Group debars SoftTech IT Solutions and Services Ltd. and its managing director’, which was published on the bank’s website on Wednesday.

     

    The statement read in part, “The World Bank Group today announced the 50-month debarment of SoftTech IT Solutions and Services Ltd., an information technology solutions company based in Nigeria, and the 60-month debarment of its managing director, in connection with corrupt practices as part of the National Social Safety Nets Project in Nigeria.

     

    “The debarments make SoftTech and Mr Isah Kantigi, a Nigerian national, ineligible to participate in projects and operations financed by the World Bank Group.”

  • IMF removes age limit for position of managing director

    The International Monetary Fund (IMF) has approved the removal of the age limit for the position of IMF managing director, paving the way for Kristalina Georgieva to head the multilateral lender.

    Since 1951, the IMF’s bylaws had prohibited the appointment of a candidate aged 65 or over as managing director.

    It had also prohibited the managing director from serving past his/her 70th birthday, the IMF executive board said in a statement.

    The board of governors has approved the proposal by the executive board to remove the age limit for the position of IMF managing director, it said.

    The amendment, effective immediately, brings the managing director’s terms of appointment into line with those of members of the IMF executive board, which the managing director chairs, and those of the president of the World Bank, who are not subject to an age limit, the executive board said.

    The 66-year-old Georgieva, a Bulgarian national, served on the European Commission and has been the Chief Executive Officer of the World Bank since January 2017.

    So far, the only candidate, Georgieva was selected by the European Union to lead the IMF after narrowly defeating former Dutch Finance Minister, Jeroen Dijsselbloem.

    The position of IMF chief has always been held by Europeans while the head of the World Bank has traditionally been American, an informal arrangement that has stayed in place for over seven decades.

    In July, Christine Lagarde announced her resignation from the IMF position with effect from Sept. 12, shortly after she was nominated for the presidency of the European Central Bank (ECB), triggering a selection process for the global lender’s next managing director.

    Nominations to the position closed on Sept. 6 and the IMF executive board intend to complete the selection process by Oct. 4.

  • Buhari sacks NDDC board, appoints acting managing director

    President Muhammadu Buhari on Friday sacked the governing board of Niger Delta Development Commission (NDDC). He also approved the appointment Professor Nelson Braimbraifa as an acting Managing Director for the commission.

    The President, following a Federal Executive Council (FEC) resolution, has equally vested the supervisory role of the commission in the Minister of Niger Delta Affairs.

    Also appointed as Acting Executive Director (Finance and Administration) of NDDC is Chris Amadi, while Samuel Adjogbe, an engineer, becomes acting executive director (projects).

    The appointments take immediate effect, a statement by presidential spokesperson, Femi Adesina, said.

    The dissolved board was appointed in July 2016 with Victor Ndoma Egba a former Senate leader as chairman and Nsima U. Ekere, now the governorship candidate of the All Progressives Congress as managing director/ chief executive officer.

    Other members of that board were Mene Derek (Executive Director Finance And Administration), Adjogbe Samuel (Executive Director Projects), Frank George (Akwa Ibom State Representative), Prof. Nelson Brambaifa (Bayelsa State Representative), Sylvester Nsa (Cross River State Rep.), Ogaga Ofowodo (Delta State Rep.), Uwuilekhue Saturday (Edo State Rep.), Harry Dabibi (Rivers State Rep.) and Bernard Banfa (North Central Rep.)

    The rest were Mohammed Yahaya (North East Rep.), Mustapha Dankadi (North West Rep.), Abdul Kazeem Bayero (Ministry Of Environment Rep.) and Dr Mahmoud Isa-Dutse, (Federal Ministry Of Finance Rep.).

    Mr Ndoma-Egba had taken over from Bassey Ewa-Henshaw, also from Cross River State.

    Mr Ewa-Henshaw-led Board was sacked by the federal government on July 16, 2015. That board went to court to challenge the action, arguing that by virtue of sections 2, 3 and 5 of the NDDC Act, they were entitled to four-year unbroken tenure from December 16, 2013, to December 15, 2017.

    The outcome of that case is unknown at this time.

    The NDDC was established in 2000 to facilitate rapid, even and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative and politically peaceful.

     

  • Sterling Bank appoints new Managing Director

    Sterling Bank Plc has appointed Abubakar Suleiman as its new Managing Director/ Chief Executive Officer (CEO). The new bank chief was before his appointment, the bank’s Executive Director, Finance & Strategy, a role he has served in since May 2012.

    The lender also announced that its founding Director and long-serving CEO, Yemi Adeola, has notified the Board of Directors of his desire to retire with effect from 1 April 2018 after over 14 years of service on the Board.

    Adeola’s banking career started in the then Nigeria International Bank Ltd now Citibank Nigeria Ltd in 1988 where he served in various capacities and rose to the position of Executive Director in 1998, one of the youngest officers and indeed one of the first Nigerian nationals to be appointed in that capacity with the Citigroup Inc’s Nigeria unit between February 1998 and May 2003.

    In July 2003, Adeola became the Deputy Managing Director (DMD) of our legacy component, Trust Bank of Africa Limited. He was instrumental to the formation of Sterling Bank in 2006, served as Integration Director in the immediate post-merger phase and up until 2007 as Executive Director covering Commercial & Institutional Banking and later Corporate Banking prior to becoming CEO.

    Chairman of the Board of Directors, Sterling Bank Plc, Asue Ighodalo, said: ‘In 2008, Adeola was appointed to the role of substantive CEO. Since that appointment, he has overseen a period of strong growth in market share and profitability with the institution moving from the 23rd ranked bank measured by assets to the top half of the domestic banking market”.

    Additionally, Adeola and his team have navigated multiple economic and banking credit cycles with great skill, sound judgment and outstanding professionalism often thriving in the most difficult conditions evidenced by the emergence of the Bank as a consolidator in the 2009 to 2011 cycle despite its modest capital base and distribution footprint at the time, and its continuing success in growing organically thereafter.

    “More than anything else, Adeola’s legacy is reflected in the excellent professional reputation of the Bank;” the stability of its Board and Management – something rarely seen in merged institutions; and the overall strength of its institutional governance, all of which are achievements that I have no doubt that the new leadership team will build upon and extend even further”

    Continuing, he said: “On behalf of the Board and all our colleagues, I thank first and foremost his family for their sacrifice, and Adeola himself for his outstanding service to the bank and exceptional leadership while trusting that we can continue to call upon his counsel as ‘Emeritus CEO’, notable shareholder and friend of the Bank”.

    Suleiman said: “I am deeply humbled but delighted to be stepping into the CEO role at this time. Over the past decade under Adeola, our share of the banking market has grown significantly, and our brand has become established in the marketplace. I look forward to working with the Board and my colleagues in Management towards building on the excellent foundation already in place to deliver superior value for the benefit of all our stakeholders’.

    Adeola said: ‘Our bank has grown materially in all respects over the past decade moving from being a marginal player on the fringes, to an established operator trusted by millions of people today. The achievements highlighted by the Chairman in his remarks have required huge personal sacrifice on the part of many people. I am extremely grateful to all of them for their support and know that Suleiman and his team can continue to count on this support in the months and years to come”.

  • Germany says IMF plans to stay involved in Greek bailout talks

    The managing director of the International Monetary Fund (IMF) has reassured German Finance Minister Wolfgang Schaeuble that IMF plans to remain constructively engaged in talks about aid for Greece, his spokesman said on Friday.

    The spokesman told newsmen at a regular government news conference during the World Economic Forum in Davos.

    “The IMF Managing Director, Christine Lagarde spoke with Schaeuble about the Greek bailout programme and told him that the IMF was aiming to continue its participation,’’ he said.

    Schaeuble, however, denied a report in Bild newspaper that Berlin was preparing for a deal without the global lender, which has said it will join the deal only if it includes significant debt relief.