Connect with us
Advertisment

Business

CEO Emeka Emuwa to Retire After 8 Years Board Appoints Executive Director, Emeka Okonkwo, as Successor

Published

on

Union Bank

CEO Emeka Emuwa to Retire After 8 Years Board Appoints Executive Director, Emeka Okonkwo, as Successor- The Board of Union Bank Nigeria Plc announces today that, after eight years leading the Bank, its Chief Executive Officer, Emeka Emuwa, has communicated his decision to retire from the Bank and his role as CEO on March 31, 2021.

Advertisment

 

Emeka Emuwa joined Union Bank in November 2012, following a $500 million investment by Union Global Partners, with a mandate to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a respected provider of financial services. With his imminent departure, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank‘s Corporate Banking business, to succeed him. The appointment is subject to the approval of the Central Bank of Nigeria.

Advertisment

 

Commenting on his retirement, Emeka Emuwa said; I have enjoyed the significant challenge of leading Union Bank over the last eight years. I am extremely proud of the management team and what we have been able to accomplish during my time as CEO. Today, we have a strong bank that is well positioned to compete and deliver on its vision to be ‘Nigeria’s most trusted and reliable partner.’ With a clear strategic direction, a growing and loyal customer base and a strong brand, this is now the natural time for the next generation of leadership to take Union Bank forward and deliver further value.

 

Advertisement

In over three decades of banking, my time at Union Bank has been one of the richest experiences in a long and fulfilling career with a treasure of work and life lessons to carry into the future. Together as a team, we scaled many hurdles and accomplished significant feats and I would like to thank my Executive team, senior management and every one of our employees for their integrity, support and hard work that have brought Union Bank to where it is today.

 

I would also like to thank the Board for the opportunity to lead this storied institution that has impacted generations of Nigerians for over a century and for supporting our efforts and vision during my tenure.
As we begin the transition into a new era of leadership under Emeka Okonkwo, a
consummate professional with the right experience and values, I know that Union
Bank will continue on its path as a values driven organisation that is deeply
committed to our customers and the communities we serve.

 

Prior to joining Union Bank, Emeka Emuwa led a distinguished 25-year career at Citibank.
Following several senior roles in Nigeria and across Africa, he became the first Nigerian to
be named Country Officer and Managing Director of Citibank Nigeria.
On his retirement, Emeka Emuwa will also step down from the Board of Union Bank.
Union Bank’s Chair, Beatrice Hamza Bassey, said;

 

On behalf of the Board, I would like to thank Emeka Emuwa for leading Union Bank
during the last eight years. His exceptional contribution to the transformation of the
business produced excellent results and set a solid platform for growth.
The focus over the last eight years on technology transformation, digital innovation,
and development of diverse markets for our world class range of products, has seen
Union Bank well positioned to continue growing from its current position as a market
disruptor.

 

 

Amid a tough macroeconomic environment, Union Bank maintained steady
operational momentum under Emeka’s leadership which in 2020 culminated in the
first dividend payment to investors and shareholders in over ten years. His many
significant achievements, including providing steady stewardship during the
unprecedented challenges wrought by the COVID-19 pandemic, lays a solid
springboard for the future. We wish him the very best and are grateful for his support
and commitment to ensure a successful transition over the next few months.
The Board is pleased to have Emeka Okonkwo as incoming CEO. Having been a
key contributor to the achievements of the Bank over the past seven years as an
Executive Director, Emeka Okonkwo is well suited to lead Union Bank’s next phase
of growth. The Board and I look forward to working with him to execute our strategy
and deliver value to all stakeholders in the years ahead.

 

 

Emeka Okonkwo is a seasoned banker with 30 years of experience. He joined Union Bank
in 2013 as an Executive Director to lead the Corporate Banking and Treasury business. As
the Bank embarked on its transformation, he was responsible for rebuilding the business
and strategically positioning Union Bank for success in the Corporate Banking space.
Mr. Okonkwo began his career at Citibank Nigeria where he rose from officer level to
become Executive Director in charge of Commercial Banking and Global Subsidiaries in
2009. At Citibank, he worked across various disciplines including Corporate Finance, Credit
Risk Management, Marketing, Treasury and Strategic Management in Nigeria and London.
Prior to joining Union Bank, he was the Head of the Corporate and Investment Banking
Division in Citibank Bangladesh.

 

Emeka Okonkwo has a bachelor’s degree in Civil Engineering from the University of Nigeria,
Nsukka; an MSc in Construction Management from the University of Lagos and an MBA
from Warwick Business School, UK.

Advertisment

Business

COURT DISMISSES LAND SUIT AGAINST NIGERIAN BREWERIES

Published

on

COURT DISMISSES LAND SUIT AGAINST NIGERIAN BREWERIES

COURT DISMISSES LAND SUIT AGAINST NIGERIAN BREWERIES

 

Advertisment

 

The Imo State High Court of Oru Judicial Division sitting at Mgbidi and presided over by his Lordship Hon. Justice Onyekachi has dismissed Suit No. HOU/71/2019, which was instituted by Chijioke Nwadika against
Nigerian Breweries Plc in the said suit, the claimant Mr. Chijioke Nwadika prayed the court to declare that the entire Ama Ogbejelem farm land at Awo-omamma in Imo State where Nigerian Breweries Plc constructed it’s drainage for waste disposal at its Awo-omamma
Breweries plant belongs to him and his family.

Advertisment

 

 

COURT DISMISSES LAND SUIT AGAINST NIGERIAN BREWERIES

Advertisement

The claimant also sought the court to order Nigerian Breweries Plc. to remove the drainage system from the land and pay the sum of N500,000,000 (Five Hundred Million Naira) as damages for unpaid
royalty, and destruction of the family’s economic trees as a result of disposal of waste through the drainage that runs through the claimant’s
farm land as claimed.

The claimant Mr. Chijioke Nwadika was represented through-out the
Suit by his counsel Damian Uneze Esq. who urged the court through his
submission to grant the reliefs. Dr A.A Orunkoya Esq counsel to Nigerian Breweries Plc vehemently challenged the claims of the claimant and urged the court to dismiss the suit on grounds that the
claimant failed to prove with empirical evidence the ownership of the and where Nigerian Breweries is situate or any part of it where the
drainage system of Nigerian Breweries passed.

It was his contention
that the claim of Mr. Chijioke Nwadika is predicated on tittle; hence the onus was on him to prove ownership of the land before he can be
entitled to any other relief or claim for damages connected to the land.
Dr. A.A Orunkoya Esq. further informed the court that the claim of Mr. Chijioke Nwadika was statute barred as the entire suit was centered on
a contract he purported his father had with Nigerian Breweries in 1983
whereas the action was instituted in 2019 in breach of limitation of
Action Laws that requires actions founded on breach of contract to be
instituted within six years.
The trial judge Hon. Justice Onyedikachi after considering the argument
and evidence put before the court dismissed the suit in favour of Nigerian Breweries Plc. Dr. A.A. Orunkoya Esq defence counsel to
Nigerian Breweries Plc while addressing the press after the judgment,
reiterated that the judgment has further rekindled the hope of investors and corporate organizations to invest in rural communities.

He stated that private companies are usually sued by unscrupulous
persons in their host communities thereby discouraging investors.
Dr. A.A Orunkoya Esq. further stated that the suit of Mr. chijioke
Nwadika was capable of frustrating the continuous existence of the Nigerian Breweries in Awo- Omamma but because the claims lack
merit, the court appreciated the issues of law that was canvassed as a defence and entered judgment in favour of Nigerian Breweries by dismissing the suit.

Advertisment
Continue Reading

Business

Palliatives: Dangote donates 80,000 bags of rice to Lagos residents

Published

on

Palliatives: Dangote donates 80,000 bags of rice to Lagos residents

 … Sanwo-Olu says Dangote prioritize Nigerians’ welfare above profit

 

Advertisment

 

The Aliko Dangote Foundation, (ADF) has flagged off the distribution of 80,000 10kg bags of rice to the vulnerable in Lagos state.

Advertisment

 

 

 

Advertisement

President of Dangote Group and Chairman of the foundation, Aliko Dangote, noted that the gesture is part of the over one million 10kg bags of rice that would be distributed to reach one million vulnerable people in the 774 local government areas of the country.

 

 

 

 

Speaking at the flag off in Alausa, Dangote, said the distribution of the 80,000 bags of 10kg rice is another demonstration of the foundation’s commitment to upholding the values of compassion and solidarity that are at the core of humanity.

Noting that the distribution of the rice is in addition to the daily distribution of 12,500 loaves of bread in Lagos, Dangote stressed that with the initiative, the foundation aspires to ameliorate some of the burdens faced by vulnerable communities across Lagos State.

In his remarks, Governor of Lagos state,  Babajide Sanwo-Olu, applauded the many initiatives of Dangote to ameliorate the sufferings of Nigerians, while praiseing him for showing compassion to the needy in the society.

Sanwo-Olu said the gesture of distribution of 80,000 bags of 10kg rice shows that the leadership of the Foundation prioritize the welfare of the people beyond the pursuit of profit and accumulation of wealth.

The Governor said: “Aliko Dangote is a Nigerian that has chosen to be different. You have choices but you have made the right one which is caring for the vulnerable. I appreciate Mr. Aliko Dangote for extending his kind gestures to the people at the bottom of the pyramid and we are grateful for supporting us in government. There is a lot of global disruption in different parts of the world, and it is a tough time to be in a position of leadership,” he said.

While encouraging other wealthy Nigerians to emulate Dangote, the Governor said the distribution of the rice would support the initiative of the state in addressing the effects of the economic hardship.

Justifying the food intervention in Lagos, Dangote said: “While our traditional Ramadan food distribution has been focused on the Muslim Community, we recognize that the current circumstances where a significant proportion of Nigerians across the nation are experiencing severe hardship due to the prevailing high prices of food, require that we broaden our program to cover communities of all faiths. This is why we are extending the Ramadan initiative to cover all the thirty-six states and the Federal Capital Territory as a testament to our commitment to supporting our communities in line with our core values and the spirit of the Holy Month of Ramadan,” he said.

The CEO of the ADF, Zouera Youssoufou, said the Foundation is partnering credible NGOs, civil societies, religious bodies among others to ensure the donations go to the most vulnerable in Lagos State.

She said the Foundation is guided by a vision of empowering Africans to achieve their self-actualization and full potential as it believes that every individual, regardless of their circumstances, deserves the opportunity to thrive and succeed.

“In times of hardship, it is imperative that we stand together as one nation, one community, extending a helping hand to our brothers and sisters in their time of need as we have done with our female empowerment programme in Lagos State which targeted 40,000 (Forty thousand) disadvantaged women,” she added.

Group Executive Director Commercial Operations at Dangote Industries Limited (DIL), Fatima Aliko-Dangote, noted that the flag off in Lagos is a follow-up to the 120,000 bags distributed in Kano on Saturday, said the intervention is targeted to reach the 774 local government areas in Nigeria.

“We have been doing this for a while but we didn’t publicize  it because  our chairman  believes  this is between him and God but this year we decided  to publicize  it so that we can encourage  and inspire others to do so.

“There are many other things the Dangote foundation is also doing. We are also serving 2,500 breads all over Lagos daily. We started this in 2020 during COVID-19. Also in our hometown in Kano, we have been doing breakfast, lunch and dinner for the past 35 years. The foundation has invested in many things. Years back, we gave women some money to be able to invest in their businesses,” she said.

Speaking further, Dangote noted that Lagos state holds a special place in the hearts of the Group, hosting two of its major investments – Dangote Petroleum Refinery and Dangote Fertiliser Plant.

He disclosed that the Dangote Group is also working on the nutrition agenda and has made significant strides in food fortification, investing in iodized salt and vitamin A fortified sugar. He stressed that the Group actively promotes food fortification within the Nigerian food industry and is exploring fortification methods for staples like rice and wheat and bouillon cubes to help ensure improved nutrition nationwide.

“At the heart of the Aliko Dangote Foundation lies a deep-seated belief in the importance of nutrition in human capital development. We understand that access to nutritious food is not only a basic human right but also a critical determinant of good health and well-being. By providing these modest bags of rice to those in need, we are not only looking to alleviate immediate hunger, but also investing in the long-term health and prosperity of our communities,” he added.

While commending Lagos state governor, Babajide Sanwo Olu as a Governor with a penchant for overcoming adversity and enormous capacity in handling emergencies, Dangote urged other well-meaning individuals and corporate organisations to emulate the efforts to support the less privileged in the communities, especially during Ramadan, which is a time of self-reflection, empathy, and charity.

Palliatives: Dangote donates 80,000 bags of rice to Lagos residents

Advertisment
Continue Reading

Business

NIFESAF ESUT Lagos Holds 4th Edition Of Business, Career Exposition

Published

on

 

Advertisment

 

The Lagos State Alumni Fellowship of Nigerian Fellowship of Evangelical Students (NIFESAF) has held the fourth edition of its Business and Career Exposition programme themed ‘Maximizing Technology and Strategic Customer Loyalty For Sustainable Business Growth In Today’s Economic Condition’ on Saturday, 23rd of March, 2024 in Lagos.

Advertisment

The programme which was basically for Small and medium-sized enterprises since its inception has served as a major platform for the promotion of Nigerian-owned businesses and created several opportunities for SMEs to thrive and have access to the world through the global reach of NIFESAF ESUT.

Just like the previous editions, the fourth edition wasn’t any different; it featured an avalanche of exhibitions by several Nigerian businesses with guests who were ready to patronize them and a huge platform to publicize their businesses.

Advertisement

Some of the businesses involved in the exhibition include Finet Mobile, Purch Gadgets, Congratulations Corporate Events, Exceptional Intensive Vocational Training, Farmskills Limited, Jigsimur health drink, De Luxe flour, Royal Almonds, Ifiefruit, Ihubest trading enterprise, K-shape fashion designer, Zara Caps and Hats, Chee Havillah Royal Services Ltd, Lowan Enterprises, Mace Ventures, Arif Bureau, Davis Exotic Homes, Whiztech Global Ltd, Earthblend flavours, to mention but a few.

Speaking at the event, the Chairman of the Global Body— Nigerian Fellowship of Evangelical Students (NIFES) ESUT Alumni Fellowship, Mr. Fred Nnadike, said the essence of the business exhibition was to support and build a community of excellent, Christians who would be role models in their respective careers.

Nnadike who urged believers under the umbrella to keep the faith alive equally charged them to uphold ethical standards, sound corporate governance, and avoid sharp practices in their respective professions and business endeavors as ardent followers of Christ.

“We want to encourage what we produce and link our entrepreneurs to the global space. SMEs are indispensable for economic growth and development. The government across board should do something urgently to revive the economy by making the environment conducive for businesses to thrive” he implored.

On his part, the Lagos State Chapter Chairman of the Fellowship, Mr Henry Nnadike, said the leadership of NIFESAF has often reminded the government that MSMEs are still the engine room of every strong economy.

“Government must address multiple taxation, epileptic power supply, dilapidated road network, and general scorching economic environment. Governments must be transparent in their reforms and interventions. Besides, we need informed ideas, programs, and policies that must be designed by the best brains. The government should learn to put the interest of the masses above their personal interest for posterity’s sake” he urged.

Similarly, the Vice Chairman of NIFESAF, Lagos Chapter, Mrs. Chika Idalah–Allison, called on the state and federal government to partner with NIFESAF and related organizations which are poised to promote skills and craftsmanship, particularly for youths.

“Government should partner with organizations promoting skills acquisition, innovation, human capital development, and creative industry. In NIFESAF we are under the mandate to support every entrepreneur under its umbrella even beyond.

Idalah – Allison told newsmen that she was able to travel to different countries for business purposes, not by her academic certifications but by the salability of her skills in artwork and design.

“Nigeria is our only country, we must build it because the world is waiting for us to step out, and that is what we must all do collaboratively, however, our education curriculum should be designed fit- for -purpose” she asserted.

Advertisment
Continue Reading

Cover Of The Week

Trending