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Roosevelt Ogbonna is The New Managing Director Of Access Bank

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Roosevelt Ogbonna

Following the appointment of Herbert Wigwe as the Group Managing Director/ Chief Executive Officer, Access Holdings Plc., Roosevelt Ogbonna has now taken over as the new Managing Director of Access Bank Plc.

According to a statement from the bank, Ogbonna, who is presently the Deputy Managing Director of the bank, will assume office on May 2, 2022.

Ogbonna, who became Group Deputy Managing Director in 2017, has over 20 years’ experience in banking, cutting across Treasury, Commercial and Corporate Banking. He joined Access Bank in 2002 as a Manager from Guaranty Trust Bank Plc.

He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds a second-class upper degree in Banking and Finance from the University of Nigeria, Nsukka. He is also a Chartered Financial Analyst and has attended Executive Management Development Programmes in several leading institutions.

According to the bank, Ogbonna represents the Bank on the boards of Access Bank (Zambia) Ltd, Central Securities Clearing System Plc, Africa Finance Corporation and The Access Bank (UK) Limited.

The statement also announced the appointments of Victor Etuokwu and Chizoma Okoli as Deputy Managing Director, Retail North and Deputy Managing Director, Retail South respectively. All three appointments have been approved by the Central Bank of Nigeria (CBN), effective from May 2, 2022.

According to the statement, Etuokwu, who holds a Bachelor of Science degree and a Master’s in Business Administration from the University of Ibadan and the University of Benin respectively was appointed an executive director of the bank in 2012 and his appointment was renewed in 2022 following the expiration of his second term.

Okoli, on the other hand, is a seasoned professional with three decades of banking experience. She obtained a Bachelor’s of Law degree from the University of Benin and a Master’s in Business Administration from Warwick Business School, United Kingdom.

She commenced her professional career in 1992 as an Executive Trainee in the defunct Diamond Bank Plc, where she distinguished herself and rapidly rose through the ranks to become an Executive Director in 2016.

She is also an honorary senior member of the Chartered Institute of Bankers of Nigeria and a member of the Institute of Credit Administration of Nigeria.

Meanwhile, Investors King gathered that Access Bank, on Monday, evolved into a holding company, with its entire 35.5 billion outstanding shares delisted from the daily official list of the Nigerian Exchange and relisted under a new parent company to be known as Access Holdings PLC.

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Appointments

Former First Bank Chairman, Ibukun Awosika Joins Binance Advisory Board

A former chairman of First Bank of Nigeria, Ibukun Awosika has been appointed to the Binance Advisory Board

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Ibukun Awosika

A former chairman of First Bank of Nigeria, Ibukun Awosika has been appointed to the Binance Advisory Board. 

Investors King learnt that one of the world’s leading cryptocurrency exchange companies, Binance, has appointed Ibukun Awosika on its advisory board. Binance is believed to be the world’s largest cryptocurrency exchange by trading volume. 

The former chairman of First Bank of Nigeria was selected among other eminent people which include Max Bacus Former U.S. Ambassador to the People’s Republic of China; Hyung-Rin Bang, advisor of the Korea Presidential Committee; Bruno Bézard, managing partner at Cathay Capital, former economic advisor to the French Prime Minister and ex-head of the French Treasury; Henrique de Campos Meirelles. 

The list also includes a former president of the Central Bank of Brazil; Leslie Maasdorp, the chief financial officer of the New Development Bank; Adalberto Palma, former senior advisor to the President of Mexico; Christin Schäfer, founder of ACS Plus; Ed Vaizey, a member of the UK House of Lords; David Wright, chair of Eurofi. 

The appointment of the advisory board will help the Binance exchange to break new boundaries in the face of crypto regulation challenges. 

It should be recalled that in June 2021, the Financial Conduct Authority (FCA) ordered Binance to halt all UK-regulated activity over worries about weak consumer protection. Similarly, in May 2021, Bloomberg News reported that Binance is being investigated by the United States Department of Justice and Internal Revenue Service for money laundering and tax evasion. 

The Central Bank of Nigeria has also banned cryptocurrency-related transactions in Nigeria. In a circular released in February 2021, the Central bank reaffirm a 2017 directive to financial institutions to block any account that transacts in cryptocurrency. 

However, despite the overwhelming opposition to cryptocurrency, millions of retail investors keep embracing it, especially in West Africa. 

In July 2022, the United Nations Conference on Trade and Development (UNCTAD) rated the West African country third among countries with the highest number of cryptocurrency holders in Africa. The report also stated that more than 13 million Nigerians are in possession of digital assets

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FBN Insurance Limited Appoints Tunde Mimiko as New Managing Director

FBN Insurance Limited has appointed Tunde Mimiko as its new Managing Director and Chief Executive Officer, following the retirement of Mr. Val Ojumah.

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FBNInsurance

FBN Insurance Limited has appointed Tunde Mimiko as its new Managing Director and Chief Executive Officer, following the retirement of Mr. Val Ojumah.

According to the statement released by FBN Insurance Limited, Mr Val Ojumah will remain with the company until April 2023 in an advisory role to support a smooth transition. 

Val Ojumah had been the Managing Director since the inception of FBN Insurance. He has helped to grow the brand to become one of the most successful and celebrated businesses in Nigeria.

The Chairman of FBN Insurance, Dr Femi Oyetunji, extols the credentials of the newly appointed MD, Tunde Mimiko. 

“Tunde brings over two decades of versatile and trusted financial services experience to our business, with a track record of excellence and integrity.  We are confident of his ability to take FBN Insurance to greater heights.” He said. 

Before joining FBN Insurance, Tunde Mimiko was an Executive Director (Operations) at FBN General Insurance. As a seasoned insurance professional, he has over 23 years in life and general insurance traversing sales and marketing, strategy and business development, mission planning and technical development.

Tunde Mimiko holds an MBA in Financial Management, from Lagos State University, he is also a fellow of the Chartered Insurance Institute of Nigeria, a fellow of Insurance Institute of Canada and an Alumnus of Lagos Business School. 

The new MD of FBN Insurance is expected to bring his wealth of experience to the company. 

Meanwhile, the chairman of FBN Insurance also appreciated the outgoing MD for his rare and outstanding service. 

“We thank Val Ojumah for his rare leadership, service, dedication, and strong commitment to the success of FBN Insurance. Under Val’s leadership, FBN Insurance has experienced monumental growth and is today recognised as Nigeria’s leading insurance company.” He stated. 

Incorporated in 2010, FBN Insurance was awarded the best Life Insurance Company in 2014. The company acquired a 100 percent stake in Oasis Insurance Plc and overturn Oasis’s loss position within one year. The Oasis deal won FBN Insurance the M&A Atlas Award (Africa deal of the year). 

In 2017, FBN Insurance was awarded the fastest growing insurance and best Life Insurance Company in Nigeria. In 2018, FBN Insurance was rated A+ by a Credit Rating Agency, Agusto and Co, and awarded the Most Profitable Life Insurance Company in Nigeria. 

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Heritage Bank Plc Announced George-Taylor Akinola As New Acting Managing Director

Heritage Bank Plc has appointed Akinola George-Taylor as its new Managing Director in an acting capacity

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Following the approval of the Board of Directors and Central Bank of Nigeria, Heritage Bank Plc has appointed Akinola George-Taylor as its new Managing Director in an acting capacity.

Goerge-Taylor will take over from Dr Ifie Sekibo who has been with the bank for more than 10 years. As an experienced banker with more than 20 years working in the banking and financial services sector, Taylor is expected to oversee the bank operation in Nigeria and lead it to new heights. 

Taylor started his banking career in 1993 with GTBank where George-Taylor rose to the position of Executive Director in charge of Public Sector Group, Abuja and North Central. 

Whilst at the Bank, he has held various positions in different business sectors. He was also Managing Director of GTBank in Sierra Leone between 2005 and 2009.

The bank also announced the appointment of Osepiribo Ben-Willie and George Oko-Oboh as executive directors. 

While Ben-Willie is currently the Directorate Head South-South, South-East and Private Wealth Management Team in Heritage, Oko-Oboh currently heads the Abuja and North Directorate Business of Heritage Bank Plc. 

The bank further stated that the newly appointed Acting Managing Director and his team of Executive Directors commenced their respective tenors on Monday 12th September 2022. 

Heritage bank plc is one of the oldest commercial banks in Nigeria. It was founded in 2012. However, its root could be traced to the late 1970s with the defunct Societe Generale Bank of Nigeria. 

Amid the new minimum capital requirement of the Central Bank, Societe Generale Bank was closed down by the CBN in 2006. The bank however challenged the closure in court. 

In December 2012, the Central Bank re-issued Societe Generale’s banking license. Having acquired the banking license, the new ownership re-branded the bank as Heritage Banking Company Limited and opened for business under the new name on 4 March 2013.

 

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