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Transcorp Appointments New Board of Directors And Subsidiary CEOs

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The Board of Transnational Corporation of Nigeria Plc (Transcorp), Nigeria’s largest listed conglomerate and a leading investor in the energy sector, has announced the appointment of Mr. Victor Famuyibo and Mallam Ahmadu Sambo to its board of directors.

The appointment became effective from April 22, 2021.

The group, in a statement at the weekend, also formally announced the appointment of two new members of its executive management team: Mr. Vincent Ozoude, as MD/CEO of Trans-Afam Power Limited and Mr. Peter Ikenga, as MD/CEO of Transcorp Energy Limited.

Famuyibo joined the board with deep experience and knowledge in human resources and personnel management. He worked with multinational companies such as UAC Nigeria, Heineken International and Nigerian Breweries Plc, where he led numerous teams to drive strong employee engagement, the statement added.

Famuyibo retired from Nigerian Breweries as Director of Human Resources and a member of the board after a distinguished career of 32 years in the company.
On the other hand, Sambo has over 30 years of work experience in the private and public sectors in Nigeria and the United States.

He retired as group general manager in charge of Group Finance for the Nigerian National Petroleum Corporation (NNPC). Prior to this, he was the managing director of NNPC Oilfield Services Limited, NIDAS Marine Limited and NNPC Pension Fund Limited between 2011 and 2016.

The statement said in recognition of his meritorious service, he received numerous awards, including the First Place Ministerial Award for outstanding Staff Performance from the Honorable Minister of State for Petroleum Resources. “He is a Member of the Commonwealth of Massachusetts Board of Accountancy and State of New Hampshire Board of Accountancy. He is also a Member of the Massachusetts Society of Certified Public Accountants and National Association of Black Accountants,” it added.

Similarly, Ozoude is the MD/CEO of Trans-Afam Power Limited. He joined Transcorp Group from General Electric (GE) Inc-Sub Sahara Africa, where he was sales director, covering the entire Sub-Saharan Africa for General Electric Power Generation Services portfolio.

A graduate of Chemical Engineering with Masters in the same field from the Enugu State University of Science and Technology, Ozoude is leading Transcorp’s recently acquired 966MW power plant asset, Afam Genco, which comprises Afam Power Plc and Afam Three Fast Power Limited.

“Ozoude has over 20 years of work experience in the power generation services sector, was at some time a member of GE field engineers advisory board for Africa and Middle East region, a greenbelt lean six sigma qualified and won numerous awards such as Everyday Excellence Expertise Award from GE Global leadership, Clear Thinker Award amongst others,” it added.

Ikenga is the MD/CEO of Transcorp Energy to lead the conglomerate’s integrated energy strategy, with a particular focus on gas, renewables and alternative energy.
He brings with him a wealth of global professional experience, having directly developed and managed major oil, gas and power assets and operations in multiple regions, including Nigeria, Brazil and the United States for Shell Nigeria and Shell International. Prior to joining the group, Peter was refining director for an indigenous oil and gas operator in Nigeria.

Commenting on the appointments, the Chairman of Transcorp Group, Mr. Tony Elumelu, said: “Transcorp has made a succession of important recent business acquisitions, consolidating our position in the power, oil and gas sectors, demonstrating our commitment to Nigeria’s economy and the rapid advance in our integrated power strategy.

“We are delighted to complement these with further investment in human capital. These announcements illustrate the depth, diversity and quality of experience of our leaders, both executive and non-executive. Our board and management team, led by the President/Group CEO, Mrs. Owen Omogiafo, are further capacities to deliver our vision.

“Mr. Famuyibo, with his considerable experience in human resources, will be invaluable in working with management to deliver cutting edge employee management practices. Mallam Sambo brings crucial knowledge of the energy sector, further accelerating our integrated energy strategy.

“Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the group’s mission of ‘improving lives and transforming Nigeria”.

Mr. Elumelu further said that: “Peter and Vincent, working with our existing CEOs, Mr. Chris Ezeafulukwe, MD/CEO Transcorp Power Ughelli and Mrs. Dupe Olusola, MD/CEO Transcorp Hotels Plc, will contribute to the Group’s mission of “Improving Lives and Transforming Nigeria. “With the acceleration in our integrated energy strategy and the expansion of our hospitality business, notably the recently launched digital hospitality platform, Aura by Transcorp, we are closer to our goal of powering one in every four homes in Nigeria and redefining the standards of hospitality in Africa. This investment in human capital demonstrates, once again, our commitment to bring together the best, to ensure the execution and value creation that our stakeholders expect”.

Transnational Corporation of Nigeria Plc (Transcorp) is a publicly quoted conglomerate, with a diversified shareholder base of over 300,000. Its portfolio comprises strategic investments in the power, hospitality, agribusiness and oil and gas sectors.

Among the organisations in the group are Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power Ltd, Trans-Afam Power Ltd, Transcorp Energy and the recently launched digital hospitality platform, Aura by Transcorp Hotels.

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Appointments

President Tinubu Appoints Nigeria’s Renowned Banker, Jim Ovia as Chairman of Nigerian Education Loan Fund

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President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND).

This was announced in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26, 2024.

According to the statement, ‘‘the President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.’’

Jim Ovia, CFR, is the Founder and Chairman of Zenith Bank Plc, one of Africa’s largest banks with over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as at December 2023.  Zenith Bank is a global brand listed on the London Stock Exchange and the Nigerian Stock Exchange.

In addition to major operations in Nigeria and other West African countries, the Bank has sizeable operations in London and Dubai.

Jim Ovia is the Founder and Chancellor of James Hope University, Lekki, Lagos which was recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses.

James Hope University commenced activities in September 2023.

Through his philanthropy – the Jim Ovia Foundation – he has shown the importance he accords good education.  In support of the Nigerian youth, Jim Ovia Foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative.

Most of the beneficiaries of Jim Ovia Foundation scholarship are now accountants, business administrators, lawyers, engineers, doctors etc.

He is the author of “Africa Rise and Shine”, published by ForbesBooks. The book which encapsulates Zenith Bank’s meteoric rise, details the secrets of success in doing business in Africa. He is an alumnus of the Harvard Business School (OPM), University of Louisiana (MBA), and Southern University, Louisiana, (B.Sc. Business Administration). Jim Ovia is a member of the World Economic Forum (WEF) Community of Chairpersons, and a champion of the Forum’s EDISON Alliance.

In recognition of Jim Ovia’s contributions to the economic development of Nigeria, in 2022, the Federal Government of Nigeria honoured him with Commander of the Federal Republic, CFR. Also, in May 2022, Jim Ovia was conferred with the National Productivity Order of Merit (NPOM) Award by the Federal Government of Nigeria.

Earlier, he has been conferred with the national awards of Member of the Order of the Federal Republic, MFR, and Commander of the Order of the Niger, CON, in 2000 and 2011, respectively, as a testament to his visionary leadership and contributions to Nigeria’s financial services sector.

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

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Appointments

First Bank of Nigeria Appoints Olusegun Alebiosu as Acting CEO Following Resignation of Dr. Adesola Adeduntan

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Olusegun Alebiosu

First Bank of Nigeria Limited, a subsidiary of FBN Holdings PLC, has announced the appointment of Mr. Olusegun Alebiosu as its Acting Chief Executive Officer (CEO).

This decision comes in the wake of the resignation of Dr. Adesola Adeduntan, who has led the bank for the past nine years.

The appointment, which takes immediate effect, is subject to the approval of the Central Bank of Nigeria (CBN), reflecting the bank’s commitment to regulatory compliance and governance standards.

Mr. Alebiosu, a seasoned banking professional with over three decades of experience, is well-prepared to take on the responsibilities of leading First Bank Nigeria during this transition period.

Having served as the Executive Director and Chief Risk Officer, he played a pivotal role in the transformation and growth of the institution over the past eight years.

His extensive experience spans various aspects of the banking and financial services industry, including credit risk management, financial planning, corporate and commercial banking, and project financing.

Before joining First Bank Nigeria in 2016, Mr. Alebiosu held key positions in renowned financial institutions such as Coronation Merchant Bank Limited and the African Development Bank Group.

Expressing gratitude for Dr. Adeduntan’s exemplary leadership, the Board of Directors acknowledged his significant contributions to the bank’s growth and success during his tenure.

Dr. Adeduntan’s departure marks the end of an era characterized by remarkable achievements and milestones for First Bank Nigeria.

As Acting CEO, Mr. Alebiosu is poised to build upon the bank’s legacy and steer it towards continued growth and profitability. With a strong focus on strategic objectives, he aims to uphold First Bank Nigeria’s reputation as a leading financial institution in Nigeria and beyond.

In his new role, Mr. Alebiosu will work closely with the Board of Directors and management team to ensure seamless operations and uphold the bank’s commitment to delivering exceptional services to its customers.

As the banking industry undergoes rapid transformation and evolving regulatory landscape, First Bank Nigeria remains committed to maintaining its position as a trusted financial partner for individuals and businesses across the country.

With Mr. Alebiosu at the helm, the bank looks forward to a new chapter of innovation, resilience, and sustainable growth.

The appointment of Mr. Olusegun Alebiosu underscores First Bank Nigeria’s commitment to continuity and stability amidst leadership changes, signaling confidence in his ability to lead the bank through its next phase of growth and development.

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Dame (DR.) Adaora Umeoji Named Zenith Bank GMD/CEO

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Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji, OON, as Group Managing Director/Chief Executive with effect from June 1, 2024, subject to approval by the Central Bank of Nigeria (CBN).

She takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after a very successful tenure.

Dame (Dr.) Adaora Umeoji is the first female GMD/CEO since the inception of the bank, and her appointment is consistent with the bank’s executive transition tradition, succession plan, and strategy of grooming leaders from within.

Prior to this appointment, Dr. Umeoji has been the Deputy Managing Director of the bank since October 28, 2016 and has close to thirty (30) years cognate banking experience of which twenty-six (26) years has been with Zenith Bank.

She is an alumnus of the prestigious Harvard Business School where she attended the Advanced Management Program (AMP) and an alumnus of Columbia Business School with a Certificate in the Global Banking Program.

She holds a Bachelor’s Degree in Sociology from the University of Jos, a Bachelor’s Degree in Accounting and a First-Class honors in Law from Baze University, Abuja.

She holds a Master of Laws from the University of Salford, United Kingdom, a Master in Business Administration (MBA) from the University of Calabar, and also has a doctorate in business administration from Apollos University, USA.

She holds a Certificate in Economics for Business from the prestigious MIT Sloan School of Management, USA, and has attended various management programmes in renowned Universities around the world including the strategic thinking and Management programme at Wharton Business School, USA.

She also attended the executive program in Strategic Management, and has a Certificate in Leading Global Business all from Harvard Business School, USA.

She is a fellow of notable professional bodies including the Chartered Banker Institute, UK, Chartered Institute of Bankers of Nigeria, Nigerian Institute of Management, Institute of Credit Administration, Institute of Certified Public Accountants of Nigeria, Institute of Chartered Mediators and Conciliators, and the Institute of Chartered Secretaries and Administrators of Nigeria among others.

In 2022, the Federal Government of Nigeria honored Dr. Umeoji with Officer of the Order of the Niger, as a recognition of her contributions to nation building. She is a Peace Advocate of the United Nations (UN-POLAC).

She has impacted many lives through her philanthropic and humanitarian activities through her NGOs; Pink Breathe Cancer Foundation and the Adorable Foundation that educates, caters for Cancer patients and indigent children education especially the Girl-Child.

Her contribution to humanity was recognized by the Sun Newspaper which recently bestowed on her the Humanitarian Service Icon Award for 2023.

As a result of her passion for promoting professionalism in the banking industry and improving the well-being of the less privileged, Dr. Adaora Umeoji, OON founded the Catholic Bankers Association of Nigeria (CBAN), a platform she uses to promote ethical banking and service to humanity.

She is a Lady of the Order of Knights of St. John International (KSJI), and was awarded a Papal Knight of the Order of St. Sylvester by His Holiness Pope Francis.

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