All Posts in "Day: January 31, 2024"

Femi Otedola now Chairman, FBN Holdings

By Favour Nnabugwu

 

Nigerian businessman, Femi Otedola has emerged as the Chairman, Board of Directors of First Bank of Nigeria (FBN) Holdings.

The financial institution disclosed this in a corporate filing on the Nigerian Exchange Limited (NGX), notifying investors of the new development.

The appointment was confirmed after a recent meeting of the board where Otedola succeeded Alhaji Ahmad Abdullahi.

The institution said Otedola’s appointment is effective January 31, 2024.

FBN Holdings added that Otedola came on its board on August 15, 2023, as a non-executive director and described him as a visionary entrepreneur.

“He is a visionary entrepreneur with a track record of pioneering businesses, growing and transforming corporations. His first foray into the downstream sector of the oil and gas industry began with Zenon Petroleum and Gas Limited thus disrupting and redefining standards in the industry. He thereafter initiated the purchase of majority shareholding in the then African Petroleum Plc in May 2007 and became the Chairman of the Board on 25 May 2007.

“His vision transformed African Petroleum Plc into Forte Oil Pic (FO PIc). The company grew in leaps and bounds to become a model of the possibilities inherent in Nigeria, winning numerous accolades in recognition of the successful business turnaround, diversified portfollo, prompt financial reporting, strong corporate governance, and Investment of choice within the oil and gas industry.

In December 2018, he divested from the company by selling his shareholdings to the Ignite Consortium led by Prudent Energy Services Limited and handed over in June 2019 after completing the transaction,” FBN Holdings said

Patoma Admin by — January 31, 2024 in Banking & Finance 0
We have uncovered religious sect laundering money for terrorists – EFCC Chairman

By Favour Nnabugwu

 

 

The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede, has revealed that the anti-graft agency uncovered how a religious sect in Nigeria is laundering money for terrorists.

This was as he also revealed that another religious body was found to be protecting a money launderer after some money suspected to have been laundered was traced to the organisation’s bank account.

Speaking during a public engagement on youth, religion, and the fight against corruption, as well as the launch of the fraud risk assessment project for ministries, departments, and agencies, Olukoyede stated that the EFCC was investigating a N13bn fraud case when it discovered that N7bn of the N13bn was linked to a religious body’s bank account.

He noted that religious organisations, institutions, sects, and bodies have been found culpable of money laundering.

Olukoyede said, “A religious sect in this country had been found to be laundering money for terrorists.”

He, however, noted that the religious organisation quickly obtained a restraining order to prevent the EFCC from probing its leaders.

“We were able to trace some laundered money to a religious organisation, and when we approached the religious organisation about it and we were carrying out our investigation, we got a restraining order stopping us from carrying out our investigation,” he said.

Olukoyede further said the commission will not give up on the investigation as it is appealing the restraining order to recover the stolen funds.

The one-day event is aimed at addressing the challenges of youth involvement in cybercrimes and how religion could be used as a weapon for their reorientation.

The event, themed “Youth, Religion and the Fight Against Corruption,” featured the launch of the Interfaith Preaching and Teaching Manual developed by the Interfaith Anti-Corruption Advisory Committee of the Commission as a resource to promote abhorrence for corruption among adherents of Islam and Christianity.

The EFCC’s Fraud Risk Assessment Prevention and Control Project for Ministries, Departments and Agencies was also launched at the event.

Patoma Admin by — January 31, 2024 in News 0
DG ADMAC visits DG/CEO NiMet as both exchange ideas

By Favour Nnabugwu

 

 

The Director General of the African Centre of Meteorological Application for Development (ADMAC), Andre Kamga Foamouhoue, on Wednesday, paid a courtesy visit on Professor Charles Anosike, the Director General of Nigerian Meteorological Agency, NiMet, as both exchanged ideas

During the visit, Professor Anosike and Mr Foamouhoue exchanged ideas on meteorology, climate change and the socioeconomic impact, as it affects Africa.

Mr Foamouhoue also used the occasion to brief the DG/CEO of NiMet of the activities of ADMAC.

Professor Anosike assured that NiMet will continue to partner ACMAD because of the importance of the services it provides. He also said that it is important for member countries to continue to support the continental body to strengthen its operations.

Patoma Admin by — January 31, 2024 in Others 0
NiMET DG seeks collaboration with other agencies on disaster risk reduction, climate change

By Favour Nnabugwu
The Director General and Chief Executive Officer of Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, has called for collaboration amongst relevant agencies with a view to disaster risk reduction and climate change adaptation.
Speaking in Abuja today, Prof. Anosike at the ‘Technical Workshop On Sendai Framework Monitoring And Reporting’, organized by the National Emergency Management Agency (NEMA) in collaboration with the United Nations Development Programme (UNDP), and the United Nations Disaster Risk Reduction (UNDRR).
According to Prof. Anosike, “Disasters pose significant challenges to our nation, and we must work together to enhance our coordination mechanism with disaster risk reduction and climate change adaptation for better understanding and communication of cost benefit. By fostering partnerships and collaboration, we can collectively strengthen Nigeria’s resilience and effectively mitigate the impacts of disasters”.
Professor Anosike said that the Nigerian Meteorological Agency (NiMet) recognizes the vital role it plays in providing accurate and timely weather information, forecasting, and climate services.
“By utilizing the Sendai Framework Monitor, we can develop data-driven strategies that will lead to informed decision-making, more resilient communities, and sustainable development”, Professor Anosike concluded.
Patoma Admin by — January 31, 2024 in Aviation 0
CAMCONIA Chairman, Segun Bankole, seeks NAIPE support for industry growth

CAPTION

Chairman, CAMCONIA, Segun Bankole with  Ifesinachi Okpagu, Vice Chairman, flanked by members of CAMCONIA at the inaugural meeting for year 2024, at the NIA Secretariat, Victoria Island, Lagos

 

By Favour Nnabugwu

 

 

The Newly elected Chairman of Corporate Affairs Managers Committee of the Nigerian Insurers Association (CAMCONIA), Mr Segun Bankole, has solicited the cooperation, support and partnership of members of the Nigerian Association of Insurance and Pension Editors (NAIPE) with CAMCONIA to achieve its mandate.

The CAMCONIA Chairman who is also the Deputy General Manager, Corporate Communications & Investor Relations, Sovereign Trust Insurance Plc, made the appeal during a special hangout with NAIPE executives and select members of the association in Lagos at the weekend.

Segun Bankole, Chairman, CAMCONIA (8th from left 1st row) with Ifesinachi Okpagu, Vice Chairman (5th from right), flanked left and right by members of CAMCONIA at the inaugural meeting for year 2024, at the NIA Secretariat, Victoria Island, Lagos.

While commending NAIPE Members for their support and collaboration over the years, Mr Bankole appealed for the Journalists to support his tenure as a CAMCONIA Chairman to succeed and contribute to the growth of the industry

“I need the media community to make me excel, make the industry shine. That is basically what prompted my decision that let me have a hang-out with my people.

“Thank you all for the collaboration and partnership over the years. I joined Sovereign Trust Insurance in 2007, and from then till now you guys have not for one day let me down. I just said, in a very convivial way, not all about work and work, let us have time to also relax, and share very lovely moments and that is basically why we are here.

“I am also happy that we are now one united family, that for me is a big thing, and good enough your coming back together brought me as a Chairman of CAMCONIA and I know that I cannot do it alone. I need the media community to make me excel, to make the industry shine, and become great. That is basically what prompted my decision that let’s have a hang-out with my people.

“This is just to say thank you. We are in 2024, we will not agree to any bad thing. Together we will make the industry thrive and flourish because we need that relevance in the financial sector.

“Over the years you guys have done so well in terms of insurance and pension reporting and it can only get better because there is always room for improvement. We will all work together and I promise you that this 2024, it is going to be a different me. It is going to be a different relationship with NAIPE.

Thank you so much for honouring my invitation despite your tight schedules. May God continue to keep our relationship together in one big united family,” Mr Bankole prayed.

NAIPE members also spoke on the attitude of some Corporate Communication Managers of some insurance companies whom they said have turned themselves to ‘Semi-gods’ even refusing to answer their calls or respond to text messages.

They urged CAMCONIA leadership to talk to their members about the need for them to see themselves as gateway/liaison officers to journalists not the other way.

They also noted that it is easier for them to speak to the Managing Director of an insurance firm for an appointment than speak with a Corporate Communication Manager.

“You see when you talk about relationships, it should be mutually beneficial – I help you to do your job, you also help me to do my job. We need the cooperation of your members. Take this message to your members. It is easier as a journalist to reach out to an Executive or the MD of an insurance company for any appointment than to reach out to some Corporate Affairs or Corporate Communication Managers because they see themselves as ‘semi-gods’. You will call somebody or send a text message even though you want to ask them about an issue concerning their company; they will snub your call and will not respond to your text message. At the end of the day, when trouble comes, they will turn around and blame the journalist. This shouldn’t be. Tell them that we need them to come on board for us to work together as true partners in this business,” said an NAIPE member.

The Chairperson of NAIPE, Mrs Nkeche Naeche-Esezobor, congratulated Mr. Bankole on his election as CAMCONIA President and called on NAIPE members to support him.

“We already know who Bankole is. He is a friend of the house. Anyway, we can support him, please let’s do so, not only for him to succeed as a CAMCONIA Chairman, but for the growth of the insurance industry we are covering.

“If you look at the crop of the new leaders, you will agree with me that they are all professionals – people who have distinguished themselves in their field as Marketing/Corporate Communication experts.

“We know that whatever CAMCONIA has been doing before, this time a lot is going to change, not only in terms of sending stories alone for us to publish but also in supporting our activities as an Association.

“We will do our best to support CAMCONIA during your tenure. Always inform us about your programmes and activities. If we cannot come physically, we will use the story. I know Bankole will take our message to his members,” NAIPE Chairperson stated.

Patoma Admin by — January 31, 2024 in Insurance 0