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Former Wema Bank MD Ademola Adebise, Olufunmilayo Adedibu Join FCMB Board

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First City Monument Bank (FCMB) Limited has welcomed two new members to its board of directors.

They are Mr Ademola Adebise, a respected figure in the Nigerian financial industry, and Mrs Olufunmilayo Adedibu, a distinguished lawyer with a wealth of experience in legal practice and banking.

Their appointments as the bank’s non-executive directors follow the approval of the Central Bank of Nigeria(CBN), underscoring their credibility and competence.

Adebise, a seasoned banker with over three decades of experience, recently served as the Managing Director of Wema Bank Plc. He brings a wealth of knowledge and expertise to FCMB. Recently, he was appointed by the federal government as the Chairman of the Board of Directors of Family Homes Funds Limited.

His career spans various sectors of the financial industry, including technology, risk management, and strategic planning.

He has also held key positions at prominent Nigerian banks and non-banking financial institutions, including the legacy Chartered Bank, Nigeria Inter-Bank Settlement System Plc and Accenture (a global Consulting firm). Adebise serves on the Board of AIICO Insurance, AIICO Capital and Duchess International Hospital.

With a B.Sc in Computer Science from the University of Lagos and an MBA from Lagos Business School, Adebise blends technical expertise with business acumen. He is also a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers. He has completed executive programmes at prestigious institutions such as the University of Cambridge and Harvard Business School.

Adedibu, the Group General Counsel and Company Secretary of FCMB Group Plc, brings about 32 years of post-graduation experience to the First City Monument Bank board, 29 of which span Corporate Banking, Commercial Banking, Risk Management, Banking Operations, Insurance and Compliance.

With a bachelor’s degree in law (LL. B) obtained from Obafemi Awolowo University, a Master of Law degree (LL.M) from the University of Lagos and a B.L from the Nigerian Law School, she started her legal career with the Law firm of Chris Ogunbanjo and Co where she garnered much experience in litigation, company law, Copyrights and Patent Laws before joining the banking Industry.

 

Adedibu has completed leadership and management training from Harvard Business School, Wharton School of Business, Queen’s School of Business Canada, Lagos Business School, and Euromoney Loan Documentation and Advanced Loan Documentation Training in New York.

She is a member of the Nigerian Bar Association (NBA), the International Bar Association (IBA), a Life member of the Institute of Directors (IoD), an Honorary member of the Chartered Institute of Bankers of Nigeria (HCIB) and Toastmasters International. She also sits on the Board of CRC Credit Bureau Limited.

Adding Adebise and Adedibu to the First City Monument Bank board is expected to strengthen the company’s leadership and contribute to its continued growth in the Nigerian market. First City Monument Bank Limited is a member of FCMB Group Plc, a diversified financial services company with interests in banking, consumer finance, investment banking, and investment management.

 

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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