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Dangote Sugar Refinery Promotes Mr. Ravindra Singhvi to MD/CEO

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Dangote Sugar Appoints Ravindra Singhvi as MD/CEO

Dangote Sugar Refinery Plc has promoted its present Ag. Managing Director, Mr. Ravindra Singhvi to substantive Group Managing Director and Chief Executive Officer of Dangote Sugar Refinery Plc.

In the statement to the Nigerian Stock Exchange, the company said the Board of Directors approved the Unaudited Financial Statement for the Quarter Ended September 30, 2020 and also approved Mr. Singhvi’s appointment.

It said the unaudited results will be filed at the Nigerian Stock Exchange before the end of the extension period granted by the Exchange. However, it noted that the close period remains in force until at least 24 hours after the filing of the results.

On the appointment of Mr. Ravindra Singhvi, the company said he “joined the Company as the Chief Operating Officer in August 2018 and was elevated to the position of Executive Director/Ag. Managing Director in May, 2020. He has over 39 years of proven experience in leadership positions in Manufacturing and Processes in Sugar, Petrochemicals, Cement, Textiles products industries in India.

He is a Chartered Accountant with background in Company Secretarial Practice, Corporate Governance and Management, and holds a Bachelor’s Degree in B.Com (Hons) and Law(I) from the University of Jodhpur, India. Prior to joining Dangote Sugar Refinery Plc, Mr. Singhvi was the Managing Director & CEO of NSL Sugar Limited, Hyderabad, India, Managing Director, EID Parry (1) Limited, Chennai, India, one of top three sugar producing companies in India.

“The Board is confident that he is a great asset to the Company particularly at this time the Company is on a rapid growth trajectory in view of its recent acquisition and it’s several Backward Integration Projects (BIP) to position itself for further job creation in local plantations and factories, import substitution and deeper contribution to national economic development.

“Mr. Ravindra Singhvi is very well-deserving of the elevation as substantive Managing Director/CEO and is wished the very best in his endeavors.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Tony Elumelu Receives Licence to Kick Start Heirs Insurance Limited, Heirs Life Assurance Ltd

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The Chairman of Heirs Holdings, Tony O. Elumelu, on Friday said the company has received operating licences from the National Insurance Commission (NAICOM) for its two new insurance companies, Heirs Insurance Limited (HIL) and Heirs Life Assurance Limited (HLA).

The Chairman disclosed this on his social media page.

In his words, he said “I am proud to announce that the Nigerian Federal Government, through the insurance regulator, the National Insurance Commission (NAICOM), has officially issued the operating licences for our new Group insurance companies – Heirs Insurance Limited (HIL) and Heirs Life Assurance Limited (HLA).

“This represents an important milestone of a long-term strategic journey in providing much needed, quality, & valuable financial services, to a broad demographic in Nigeria. Insurance should not be a luxury, and just as we have democratised other sectors, we will democratise insurance – applying our tried & tested business philosophies.

“Fueled by the determination to improve lives & leave a legacy in the African private sector, we have embarked on this journey to revolutionise the insurance space – deploying technology, customer understanding & operational excellence.

“It has been a five-year journey, but with the optimism & the resilience that have brought us this far, it has been worth the wait.

“I would like to warmly thank our new CEOs—Dr. Adaobi Nwakuche, MD/CEO of Heirs Insurance and Niyi Onifade, MD/CEO of Heirs Life Assurance, our Board members, regulatory partners, those who have believed in this dream, despite the obstacles, & those who have cheered us on.”

This is coming barely two weeks after Mr. Elumelu announced Transcorp has acquired Afam Power for N105 billion.

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Ndubuisi Ekekwe Moves to Deepen Capabilities Through Free Weekly Business Lessons

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Ndubuisi Ekekwe

In a bid to deepen business and individual capabilities across the African continent, Prof. Ndubuisi Ekekwe, Founder of Fasmicro and the Lead faculty, Tekedia Institute, on Sunday said he will commence free business lessons to enhance accumulation of capabilities.

In a message forwarded to all members of the platform, Tekedia.com, Prof. Ekekwe, explained that when businesses accumulate capabilities, they move upstream and create new competitive tentacles which eventually form the foundation of their growth.

More so, because of the capabilities, they protect their market shares through strategic moats against competitors and new entrants,” he stated.

Prof. Ekekwe plans to send out two business lessons per week to engage Tekedia’s growing community on the mechanics of business systems. “Each piece would be prepared to pass across a business lesson.”

Prof. Ndubuisi Ekekwe writes regularly in the Harvard Business Review and has spoken at global events — explaining and teaching the mechanics of business systems and nation-building.

To start receiving his free business lessons sign up here.

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FG Introduces NEXIT Portal for Npower Batch A and B Beneficiaries

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The Federal Government has introduced a new online portal for exited Npower beneficiaries of batch A and B.

According to the Minister for Humanitarian Affairs, Sadiya Farouq, the portal was launched in collaboration with the Central Bank of Nigeria (CBN) to enable exited Npower beneficiaries apply for available federal government empowerment options.

This was disclosed in a statement issued by Nneka Anibeze, the media aide to the minister, on Friday.

The ministry said the NEXIT portal will be used to determine the suitability of exited beneficiaries for various CBN-affiliated programmes.

She explained that selection will be based on the conditions and criteria set by the apex bank.

Ms Farouq, therefore, urged interested exited Npower beneficiaries to log on to the NEXIT portal and provide the required additional information for possible placements into central bank’s intervention options.

The Minister expressed her deep appreciation to the CBN Governor Mr Godwin Emefiele CON for his support adding that the Ministry of Humanitarian Affairs remained committed to the vision of Mr President to lift 100 million Nigerians out of poverty in the next 10 years.

“Minister Umar Farouq pledged the Ministry’s willingness to collaborate with relevant agencies of government and other stakeholders towards the realization of that vision and congratulated the exited beneficiaries while wishing them well in their future endeavours.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavours.”

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