NOVA Bank has strengthened its leadership by appointing Mr. David Isiavwe and Mrs. Chinwe Iloghalu as Executive Director, Operations and Information Technology, and Executive Director, Institutional and Commercial Banking, respectively.

David Isiavwe and Chinwe Iloghalu are both experts in the banking sector, and with their wealth of experience, the bank is set to drive its innovation and growth, particularly after its recent transition to a national commercial bank.

Mr. Phillips Oduoza, the bank’s chairman, stated that the addition of Isiavwe and Iloghalu marks a critical point in the bank’s growth.

With these seasoned professionals on board, NOVA aims to become a key player in Nigeria’s banking sector.

Announcing the appointments, Phillips Oduoza noted, “The addition of Dr. Isiavwe and Mrs. Iloghalu marks a pivotal moment in constituting the management team that will lead NOVA into its next phase of growth.

“David’s expertise in technology will be key in enhancing our phygital model, while Chinwe’s strong business drive and relationship management, coupled with the retail and product engine of the bank, will be instrumental in driving the bank’s strategic intent to become a formidable player in the banking industry.”

He added, “Their deep understanding of digital and electronic banking will significantly contribute to our trademarked phygital experience, which seamlessly combines the best of in-person service and bespoke digital solutions to serve our customers.

Both leaders bring valuable experience that aligns perfectly with NOVA’s vision to be Africa’s preferred financial solutions provider.”

Mrs. Iloghalu brings nearly 30 years of experience across sectors like energy, corporate, and digital banking. She holds an MSc in Media and Communications, an MBA, and is a Fellow of the Institute of Credit Administration.

Meanwhile, Mr. Isiavwe, with over 30 years of experience in banking and a PhD in Accounting, will focus on driving NOVA’s digital transformation.

The Adamawa State government has announced plans to reconstruct Yola Town Market, which was razed five months ago.

During a visit to the market, Professor Kaletapwa Farauta, the Deputy Governor, said the government was yet to ascertain the cause of the inferno and pledged to support the affected traders.

Farauta stated that the exact number of affected traders is yet to be determined, but the government would do everything possible to provide them with the necessary assistance.

“We are here to commiserate with our brothers and sisters who have been affected by this fire incident.

“The government will look into what has happened, as the source of the fire and the number of burnt shops is yet to be ascertained,” the deputy governor said.

However, in a recent development, the Adamawa State Commissioner for Commerce and Industry, John Dabari, revealed that the state government has approved the sum of N2.9 billion for the reconstruction of the market.

Dabari, who spoke after a meeting of the State Executive Council (SEC) presided over by the deputy governor, Kaletapwa Farauta, at the Government House in Yola, disclosed that the reconstruction of the market is set to be completed in nine months.

Investor King understands that the fire outbreak halted business activities in some parts of the town market.

However, with the government’s decision to rebuild the market, the resumption of full commercial activities is guaranteed.

The new market, which is expanded to house 69 modern shops, features a modern architectural plan and design.

According to Dabari, traders and business owners can rest assured that the modern design will reduce the risk of future fire outbreaks in the new market.

In an attempt to tackle the production, sales, and distribution of contraband pharmaceutical products in the country, the National Agency for Food and Drug Administration and Control (NAFDAC) in Oyo has destroyed substandard products worth ₦43 billion.

The agency set the items ablaze on Thursday at the Moniya dump site located in the Akinyele Local Government Area in Ibadan, the Oyo State capital.

Present at the venue to monitor the exercise were NAFDAC’s Director-General, Professor Christiana Adeyeye, representatives from various security agencies, and the Oyo State Government.

At the exercise, Adeyeye, who was represented by Pharm Shabba Mohammed, the Director of Investigation and Enforcement, stated that the products were voluntarily surrendered to the agency by compliant companies, non-governmental organizations (NGOs), and trade unions.

According to Professor Adeyeye, the confiscation of these registered and unregistered pharmaceutical products was achieved through a series of raids conducted in various locations.

Among the confiscated products were aphrodisiacs, sex enhancement medications, over-the-counter drugs, and prescription-only pharmaceuticals.

Other items included banned substances such as codeine and narcotics, with a total value exceeding ₦48 million.

According to the NAFDAC DG, “Over thirty different products were seized in total. The agency has been actively gathering intelligence on the illegal warehousing, sale, and distribution of narcotics by pharmaceutical vendors in Lagos and other states.

“Recent raids conducted by the Investigation and Enforcement Directorate resulted in the confiscation of products worth over ₦700 million.

“In addition to counterfeit pharmaceuticals, the operation also targeted contraband items such as unregistered soaps, tomato paste, and counterfeit beverages,” Adeyeye added.

She called on members of the public to actively participate in the fight against counterfeit medications and substandard food items by reporting illegal activities to the nearest NAFDAC office for prompt investigation.

“Through these measures, NAFDAC seeks to safeguard public health and safety while fostering adherence to regulations within the pharmaceutical sector,” Adeyeye concluded.