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Tinubu appoints Rotimi Akinde, Ifeoma Uz’Okpala as executive directors of BOI

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2 months ago

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President Bola Tinubu has appointed Rotimi Akinde and Ifeoma Uz’Okpala as executive directors of the Bank of Industry (BOI).

According to a statement on Wednesday by Theodora Amechi, head of public relations division at BOI, the appointment took effect on August 26.

BOI said Akinde will serve as executive director of corporate finance and risk management, while Uz’Okpala will take on the role of executive director of large enterprises directorate.

AKINDE HAS 20 YEARS INVESTMENT EXPERIENCE’

Akinde is a finance professional with over 20 years of investment and corporate banking experience and an extensive track record covering capital raising (debt, equities and hybrids) as well as corporate finance (mergers and acquisitions, privatisation advisory and project finance).

Before joining BOI, he was an associate partner, project and corporate finance at Infrastructure Delivery International (IDI), where he worked on the UKNIAF programme, promoting green finance and structured debt solutions for sub-nationals.

Akinde also worked as the corporate finance advisor at the Nigeria Infrastructure Advisory Facility (NIAF), providing financing initiatives, modelling and funding structures on infrastructure.

His previous roles include serving as group head and assistant general manager, multinationals at UBA Plc and vice-president of corporate finance and advisory at UBA global markets (now United Capital).

“He was a privatisation adviser and head of oil and gas team at the Bureau of Public Enterprises (BPE), where he closed on the divestiture and sale of the government’s equity interest in 11 oil services companies and achieved the sale of all the government’s LPG assets,” BOI said.

“Akinde was an assistant manager in Leadbank Plc, within both the investment and corporate banking groups.”

He also has experience in the financial sector in the United Kingdom (UK), having worked as an investment analyst with Barclays Funds and as an analyst with Merrill Lynch Investment Managers, London.

Akinde holds a bachelor’s degree in economics from Obafemi Awolowo University, Ile-Ife, a master’s degree in international securities, investment and banking from the University of Reading, UK, and an executive MBA from INSEAD.

‘UZ’OKPALA IS A CREDIT MANAGEMENT EXPERT’

BOI said Uz’Okpala is a seasoned credit and risk management professional, with a career spanning over 30 years in the financial sector.

She joined BOI in September 2014 as group head of large enterprises credit and later served as the chief risk officer of the bank before her appointment.

As chief risk officer, BOI said she played a crucial role in managing and mitigating risks associated with the bank’s operations while providing environmental, social and governance (ESG) risk support.

According to the bank, Uz’Okpala offered invaluable ESG support within transactions and provided the roadmap for attracting impact investments.

Prior to joining BOI, she commenced her career at the International Merchant Bank and progressed through key roles at MBC International, First Bank, Stanbic Bank, and UBA.

“She commenced her career at International Merchant Bank and progressed through key roles at MBC International, First Bank, Stanbic Bank, and UBA. Her versatile expertise includes Internal Audit, Corporate Finance, Credit Evaluation and Origination, Foreign Operations, and Risk Management,” the bank said.

“She is an alumna of the University of Nigeria, where she attained a BSc. In Accountancy and a graduate of the prestigious Lagos Business School.”

Also, Uz’Okpala is a fellow of the Institute of Chartered Accountants of Nigeria (FCA), an honourary senior member of the Chartered Institute of Bankers of Nigeria and a member of the Chartered Risk Management Institute.

 

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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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20 hours ago

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November 7, 2024

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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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1 day ago

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November 6, 2024

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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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1 day ago

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November 6, 2024

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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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