Business
Stanbic IBTC Injects Fresh Blood Into Boards Of HoldCo, Subsidiaries
In a move generally perceived as reinvigorating by injecting new blood, Stanbic IBTC Holdings PLC, a member of Standard Bank Group has announced various Board appointments across the Group.
Biztellers reports that the appointments appear to be a reflection of the Group’s commitment to strengthening its leadership teams with a view to driving continued growth and innovation.
With the development, a highly accomplished businesswoman and social entrepreneur, Ndidi Nwuneli, was appointed Independent Non-Executive Director of Stanbic IBTC Holdings PLC.
She comes with an extensive experience, deep understanding of business development and sustainability, strengths expected to see her contribute invaluable insights to the Board’s strategic decision-making processes.
Another person appointed to the Board of the Holding Company as a Non-Executive Director, is Yinka Sanni.
He brings to the position, a wealth of experience in the financial services industry, backd by a strong track record of leadership.
It is expected that his robust industry experience and strategic insight will be instrumental in shaping the company’s growth trajectory.
In addition to this role, Yinka will serve as a Non-Executive Director of Stanbic IBTC Bank.
Another new appointee to the Non-Executive Director of Stanbic IBTC Bank PLC is Funeka Montjane was.
Her appointment was informed by her rich expertise in banking and financial services across Africa and beyond, strengths expected to be instrumental in achieving the Bank’s strategic objectives and ensuring its continued success.
Another aspect strengthened is the Board of Stanbic IBTC Asset Management, where Efe Omoduemuke joined as an Executive Director.
Omoduemuke boasts broad knowledge in investment management and risk management, expected to see him play a pivotal role in driving the next growth phase and development of the asset management business.
Another board appointment happened at Stanbic IBTC Insurance Brokers, where Joyce Dimpka joined as a Non-Executive Director.
Biztellers gathered that her vast background across the financial services industry at Senior Management and Board levels would see her weigh in with valuable insights and guidance to the company’s operations.
In the same vein, Stanbic IBTC Insurance Brokers Limited, welcomed Temitope Popoola as an Executive Director.
Temitope’s wealth of experience, which traverses Finance, Operations, Customer Service, Internal Audit, and Human Capital will be instrumental in achieving the Company’s strategic objectives in delivering excellent service and innovative insurance solutions to clients.
Another arm of the business bolstered at board level is Stanbic IBTC Capital Limited, where Oladele Sotubo was appointed as Executive Director.
With his expertise and experience in the capital markets, Oladele will bring valuable insights and contribute to the growth and success of Stanbic IBTC Capital Limited, Biztellers reports.
On its part, Stanbic IBTC Ventures welcomed Titi Ogungbesan as the Chief Executive.
With her demonstrated leadership skills and deep understanding of the Nigerian business landscape, Ogungbesan will lead the company in identifying and maximizing investment opportunities, driving its growth, and expanding the company’s portfolio.
On the appointments, Chief Executive, Stanbic IBTC Holdings, Dr. Demola Sogunle, said, “These appointments represent a significant milestone in the flight plan of Stanbic IBTC as we continue to position ourselves as a leader in the Nigerian financial services industry.”
He added that the new appointees come with a wealth of multi-dimensional experience, diverse perspectives, and a deep commitment to driving excellence and innovation.
“We are delighted to welcome these esteemed professionals to our Board of Directors. As we navigate the evolving financial landscape and continue to deliver exceptional value to our shareholders, clients, and communities, we recognise that people are the driving force behind any company’s growth. Hence, we prioritise people over profits at Stanbic IBTC,” Demola said.
In a sharp turn of events, the Nigerian Naira took a significant tumble on Tuesday, plunging to N1,416.57 against the US dollar at the official market.
This staggering drop of N62.36 from the previous trading day represents a 4.60 percent loss, sparking concerns among investors and analysts alike.
Data from the FMDQ Exchange, overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed this unsettling trend.
Despite the currency’s downward spiral, trading activity surged, with the daily turnover soaring to $160.77 million, compared to Monday’s $84.83 million.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira’s performance remained volatile, trading between N1,445 and N1,301 against the dollar, underscoring the currency’s precarious position in the market.
The management of Dangote Cement Plc., Ibese Plant has assured that it would continue to complement the efforts of the Ogun State Government in the development of its host communities through capacity building for the people, especially the youths.
In a statement, the company declared its commitment to development for the prosperity of the people and host communities for which it is placing a premium on the developmental needs of the communities and empowerment of their indigenes.
During a capacity development workshop for Host Community Representatives, General Manager, Human Asset Management/Admin, Aina Olugbenga, said, Dangote Cement remained committed to implementing value-adding empowerment programs to uplift the people and develop the host communities.
The workshop themed: “Team Building, Inclusivity and Stewardship, a panacea to effective Community Representatives” according to him, was to equip the Community reps with the right skills to offer quality representation for their people. He stated: this capacity building workshop is aimed at developing and strengthening the skills, instincts, and abilities of the communities through their representatives adapt and thrive in a fast-changing world.
Olugbenga noted that the workshop is part of the management’s strategy to improve relationships with the host communities and urged the participants to leverage the knowledge acquired from the workshop to improve service delivery to their people and the Cement plant.
According to him, Dangote Cement, Ibese Plant is committed to building the capacity of the people and institutions in the communities by identifying skill gaps and partnering to up their skills for economic prosperity. This, he stated, was in anticipation that other stakeholders will continue to play their part by partnering and supporting the Company to ensure peaceful co-existence and shared prosperity for all.
Said he, “Apart from reciprocating the good gesture of Dangote Cement by ensuring peace at all times and keeping an open and trusting mind towards the organization, we also desire from our community leaders and representatives who are present here, the ownership of all Social Investment programme, be it training or infrastructure because they are meant for the betterment of our people.”
On behalf of the Community Representatives, Hon. Dayo Ogunyinka thanked the Dangote Cement management for the workshop while assuring continued commitment to effective, efficient and selfless discharge of their roles and responsibilities to their various communities and the Plant.
The Nigeria Deposit Insurance Corporation (NDIC) has announced revisions to the Maximum Deposit Insurance Coverage for banks operating within the country.
NDIC’s Managing Director, Bello Hassan, disclosed the updated coverage benchmarks during a media briefing in Abuja on Thursday.
The coverage for Deposit Money Banks has been increased from N500,000 to N5 million, for Microfinance Banks from N200,000 to N2 million, for Primary Mortgage Banks from N500,000 to N2 million, and for Mobile Money Operators subscribers’ pass-through from N500,000 to N5 million per subscriber.
Hassan underscored that the objective of the update is to enhance depositor safety, foster public trust, promote the inclusivity of financial services, and ensure the overall stability of the financial sector.
More to follow.. . .. .
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