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Ecobank Group Appoints Eric Odhiambo as Group Executive, Corporate & Investment Banking as Akin Dada Attains Retirement Age

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Ecobank - Investors King

Ecobank Group, the leading pan-African Banking Group, has appointed Mr. Eric Odhiambo as Group Executive, Corporate & Investment Banking following Akin Dada attaining retirement age.

Mr. Akin Dada, the Group Executive, Corporate & Investment Banking recently retired from the Ecobank Group having reached the retirement age of 60. In line with the Group’s succession plan, Mr. Eric Odhiambo has been appointed as Group Executive, Corporate & Investment Banking to replace Akin Dada. Eric was the Group Chief Risk Officer since September 2017, prior to this appointment.

Prior to his retirement, Akin Dada had over 30 years of banking experience in client coverage, strategic transaction initiation and advisory dialogues across various client segments, including public sector, telecoms, FMCG and oil and gas. He joined the Ecobank Group in 2017 after 26 years with Citigroup in various roles in the Corporate & Investment Banking as Senior Transactor, Senior Relationship Banker and Business Development Manager. While at Citi, he handled a wide array of transactions in Loan Syndications, Project Finance, Corporate Finance and Advisory, and was Managing Director for Citigroup Cameroon.

Eric Odhiambo Profile

The new Group Executive, Corporate & Investment Banking, Eric Odhiambo, joined the Ecobank Group in September 2017 as Group Chief Risk Officer. This followed 14 years with Citigroup in various senior management roles including Head Risk Analysis and Remedial Management, Country Risk Manager, Regional Head of Risk Management in Africa and Turkey & the CIS and was also a Senior Credit Officer, among other roles.

He led various credit structuring and approvals from an Independent Risk point of view while also participating with deal teams from Corporate & Investment Banking, Corporate Finance, Project Finance, Derivative Structures and Trade Transaction Services in actualising transactions. Eric provided continuous coaching and on-the-job training to Credit Officers across the businesses, reviewing and assigning credit limits. Eric has served on various Bank Board positions as a Non- Executive Director including his current role as an NED on the Board of Ecobank Nigeria.

He is strongly focused on business development and brings a wealth of experience to our Corporate and Investment Banking segment. He also previously worked with Atlas Mara and with ABN AMRO Bank in Kenya, during his 30 years banking career.

Ade Ayeyemi, CEO, Ecobank Group said: “In the last five years with Ecobank, Akin has made very impactful contributions. His invaluable and varied experience over many years in corporate banking, as well as his broader knowledge of banking, credit and risk management, ideally positioned him to lead our Group Corporate and Investment Banking business. I thank Akin for his significant contributions and wish him a very happy and fruitful retirement.”

In congratulating Eric Odhiambo on his new role, Ade Ayeyemi stated: “Eric is a vastly knowledgeable banker with strong expertise in business development, credit structuring and understanding as well as risk management. He has immense capacity to ensure the realisation of the strategic goals of our Corporate & Investment Banking business in the areas of loans, trade finance, advisory services and cross-border payments. I have no doubt that the strong leadership that he exhibited as our Group Chief Risk Officer in the last four years, will be replicated in his new
role”.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Appointments

Eterna Plc Appoints Benjamin Nwaezeigwe as Substantive Managing Director

Eterna Plc, one of Nigeria’s indigenous oil companies, has appointed Benjamin Nwaezeigwe as the substantive Managing Director and Chief Executive Officer of the company effective 1st August 2022.

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Eternal Oil - Investors King

Eterna Plc, one of Nigeria’s indigenous oil companies, has appointed Benjamin Nwaezeigwe as the substantive Managing Director and Chief Executive Officer of the company effective 1st August 2022.

Nwaezeigwe was the Acting Managing Director/Chief Executive Officer of the Company, a role he occupied since 17th April 2022 till this appointment.

He brings to this role a wealth of experience spanning almost two decades from different sectors of the economy with a specific bias for Oil & Gas.

Mandella Golkus, Company Secretary and Legal Adviser, disclosed in a statement obtained by Investors King.

Benjamin Nwaezeigwe Background

Mr. Nwaezeigwe worked at Rainoil Limited and rose to the position of Deputy General Manager in charge of the Group’s operations and overseeing trading and marine activities and the operation of 3 (three) petroleum products storage depots. Prior to joining Eterna Plc as the Chief Operating Officer in December 2021, he founded BHR International Ventures Limited (BHR), a privately owned indigenous downstream company in Nigeria and was its former Chief Executive Officer.

He holds a Bachelor of Science degree in Industrial Chemistry from Ambrose Ali University, as well an MBA in Production and Operation Management from Lagos State University, Lagos.

He has attended capacity building training programs offered by reputable institutions in and outside Nigeria.

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Appointments

UBA Appoints New Group Managing Director, Executive Board Members

United Bank for Africa appointed Oliver Alawuba to oversee the bank’s operations across 20 African countries, including the United Kingdom, the United States, France, and the United Arab Emirates.

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Oliver Alawuba - Investors King

United Bank for Africa, a leading financial institution in Nigeria, has appointed Oliver Alawuba as Group Managing Director to oversee the bank’s operations across 20 African countries, including the United Kingdom, the United States, France, and the United Arab Emirates.

The bank that was just licensed to operate in the United Arab Emirates disclosed in a press release signed by Bili A. Odum, Group Company Secretary.

Mr. Alawuba is expected to resume his new position on August 1, 2022, subject to approval by the Central Bank of Nigeria.

Oliver Alawuba joined UBA in 1997 and has held a series of senior positions, including as the CEO of UBA Ghana, the CEO of UBA, Africa and most recently, as Group Deputy Managing Director.

UBA Group Chairman, Tony Elumelu, stated ‘I am very pleased to announce Oliver Alawuba as the new Group Managing Director of the UBA Group. Oliver has extensive experience in Nigeria and our African network and is well equipped to advance our pan-African and global strategy.

I have no doubt that Oliver will build on the legacy of Kennedy Uzoka, who has exemplified transformational leadership by championing a customer-first philosophy; launching our twentieth operation in Africa, UBA Mali; acquiring a wholesale banking licence for UBA UK in the United Kingdom; and opening our fourth global operation, UBA Dubai, in the United Arab Emirates”.

Oliver Alawuba expressed his commitment to his new role as Group Managing Director saying “I am grateful for the opportunity to lead this great institution and would like to thank the UBA Group Chairman and the members of the Board of Directors for the confidence they have put in me to deliver the mandate.”

Other executive appointments are:

  • Ms. Sola Yomi-Ajayi, Executive Director, Treasury and International Banking. Sola has been with the Group since 2004 and has considerable international experience, culminating in her appointment as CEO of UBA America.
  • Mr. Ugochukwu Nwagodoh, Executive Director, Finance and Risk Management. Ugo joined the Group from PwC in October 2004. He has since held a series of significant roles in the areas of performance management, compliance, financial control and reporting.
  • Mr. Alex Alozie, Executive Director and Group Chief Operating Officer, who joined the Group in 2019 and has driven the Group’s digital transformation and operational efficiencies.
  • Ms. Emem Usoro, Executive Director, North Bank. Emem joined the Group in 2011 and has served in a series of senior regional appointments across Nigeria, covering the retail, corporate and public sectors.

The appointments as after the following executive directors retired: Mr. Kennedy Uzoka, Mr. Uche Ike, Mr. Chukwuma Nweke, Mr. Ibrahim Puri and Mr. Chiugo Ndubisi.

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Appointments

Ellah Lakes Appoints Paul Farrer as Deputy Managing Director

Ellah Lakes Plc has appointed Mr. Paul Farrer as its new Deputy Managing Director to oversee the company’s operational growth and development.

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Ellah Lakes

Ellah Lakes Plc has appointed Mr. Paul Farrer as its new Deputy Managing Director to oversee the company’s operational growth and development.

Ellah Lakes announced in a statement signed by Olumoroti Alli, a staff of OAKE Legal, ( the Company Secretary).

Prior to his appointment, Paul Farrer was the Country Manager for Innscor International, then the Group Executive Director & Chief Operating Officer of Food Concepts Plc.

His last Seven (7) Years in Nigerian Private Sector have been spent as the CEO of Nascon Allied Industries PLC, leading a team of over 600 staff. NASCON Allied Industries Plc. is also listed on Nigerian Exchange Limited.

Mr. Farrer will be responsible for the operational growth and development of the Company, and the expansion of the Ellah Lakes Staple Crop Processing Zones (SCPZ’s) strategy across Nigeria.

Commenting on the appointment, the Chief Executive Officer, Chuka Mordi said “We are very happy and excited about the extremely valuable addition of Paul to the team. He has a proven track record both internationally and in Nigeria”.

“We have set ambitious growth targets for Ellah Lakes Plc, and Paul Farrer possesses the wealth of experience required to develop companies in the challenging Nigerian environment. We are very glad to welcome him on board to strengthen the Ellah Lakes Executive team”.

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