The company also announced that Engr Effiong Okon will become Chief Executive Officer on August 1, 2026, succeeding Roger Brown, who has led the energy firm since August 2020.

The appointments were disclosed in a notice filed with the Nigerian Exchange Limited (NGX) on Tuesday and signed by the company secretary, Edith Onwuchekwa.

Elumelu’s elevation to Chairman comes months after his company, Heirs Energies, acquired a 20.07% stake in Seplat Energy in a $500 million deal.

The transaction made Heirs Energies the single largest shareholder in the dual-listed energy company and was one of the most significant indigenous investments in Nigeria’s oil and gas industry in recent years.

His appointment follows a series of board changes that began earlier this year. In January 2026, Seplat appointed Elumelu as a Non-Executive Director after the resignation of Olivier Cleret De Langavant, who represented Maurel & Prom.

The French company had previously held the 20.07 per cent stake before selling it to Heirs Holdings and Heirs Energies.

Tony Elumelu will succeed Senator Udoma Udo Udoma, who is currently the chairman of Seplat board. The company said the transition marks “a new chapter of leadership” for the company as it continues to pursue growth opportunities across its business.

The company said Elumelu’s experience in corporate governance, institution building and value creation will support its ambition of building a resilient and globally competitive energy business.

Elumelu is the founder and chairman of Heirs Holdings, a pan-African investment company with interests across energy, power, banking, insurance, technology, real estate, hospitality and healthcare.

He is also the founder of Africapitalism, an economic philosophy that promotes long-term private sector investment as a driver of economic development across Africa.

Beyond Heirs Holdings, he chairs Transcorp Group and serves as Chairman of United Bank for Africa (UBA) Group.

Following the acquisition, Heirs Energies became Seplat’s largest shareholder with 20.07%. Other major shareholders include Petrolin Group with 13.77%, Sustainable Capital with 9.77%, Professional Support with 8.5% and Allan Gray Investment Management with 5.57%.

The change has strengthened indigenous participation in a sector where international companies have reduced their exposure to upstream assets.

Attention will also turn to the company’s incoming CEO, Effiong Okon, who will take over leadership in August.

Okon brings more than 35 years of industry experience and has held several senior positions within Seplat since joining the company in 2018. He first served as Operations Director before becoming New Energy Director and most recently Managing Director of ANOH Gas Processing Company.

Seplat credited him with playing a key role in delivering the ANOH gas project, which achieved first gas in January 2026. The project is regarded as one of Nigeria’s major gas developments and is part of initiatives to increase domestic gas supply.

The company said Okon’s operational experience and deep knowledge of the business position him to lead Seplat through its next phase of expansion, particularly as it continues to grow its gas business and explore new energy opportunities.

The leadership changes come at a time when Nigeria’s energy sector is undergoing significant transformation. Oil producers are adapting to the global shift towards cleaner energy sources, while local operators are taking on larger roles following the divestment of several international oil companies.

The Petroleum Industry Act has also changed the operating environment, increasing pressure on indigenous companies to expand production, improve efficiency and attract investment.

Last year’s acquisition by Heirs Energies was backed by African financial institutions, including Afreximbank and Africa Finance Corporation. The transaction was structured with an upfront payment of $248 million, while the balance was secured through an irrevocable letter of credit.

A further contingent payment of up to $10 million was tied to Seplat’s share price performance.

The deal followed a separate $750 million financing facility secured by Heirs Energies from Afreximbank to support its operations and expansion plans.

Speaking at the official unveiling ceremony, Tony Elumelu, the founder of the Foundation, described the initiative as a deliberate effort to “democratise luck and prosperity,” noting that entrepreneurship remains Africa’s most viable path to sustainable development.

Out of over 265,000 applications received, the selected entrepreneurs will be funded in four cohorts: 1,951 beneficiaries in March, 100 in May, 100 in August and 1,049 in November.

Elumelu, who expressed gratitude to God, his family and partners, emphasized that the programme is driven not by surplus wealth, but by a sense of responsibility to society.

“What we do is not because we have so much, but because we see it as enlightened self-interest. Poverty is a threat to all of us. The more prosperity we spread, the better for everyone,” he said.

He further urged young African entrepreneurs to take ownership of the continent’s future, stressing that “no one but us will develop Africa.”

Elumelu also commended President Bola Ahmed Tinubu for fostering an enabling economic environment and demonstrating commitment to small and medium-scale enterprises (SMEs).

“Each time I interact with our President, I see his passion for young entrepreneurs. I encourage him to continue empowering us so we can do more,” he added.

Awele Elumelu, co-founder of TEF, expressed excitement over the new cohort but highlighted the need for broader collaboration.

“We received over 265,000 applications, but only 3,200 could be selected. We call on partners to join us in supporting these entrepreneurs because the future of Africa is in their hands,” she said.

Somachi Chris-Asoluka, the chief executive officer of TEF, described the announcement as more than a selection process.

“Today is not just an announcement; it is an affirmation of over 265,000 visions for a better future. We are celebrating the African entrepreneurial spirit, resilience, hard work and immense talent,” she stated.

She disclosed that since the programme’s inception in 2015, TEF has disbursed over $100 million to more than 24,000 entrepreneurs, creating 1.5 million jobs and generating $4.2 billion in revenue across the continent.

Representatives of international organisations and corporate partners commended TEF’s long-term commitment to entrepreneurship development.
Head of Cooperation, European Union Delegation to Nigeria, Massimo De Luca, noted that empowering young entrepreneurs; especially women remains one of the most transformative investments.

Similarly, UNICEF’s Deputy Director, Nadi Aldino, described the initiative as a “live wire” that will continue to shape Africa’s economic future.

Other partners, including Dr. Owen Omogiafo OON President/GCEO, Transcorp Plc; Osa Igiehon
CEO, Heirs Energies; and Peter AshadeGroup CEO, United Capital, Plc., highlighted the role of private sector collaboration in scaling impact across key sectors.

Alumni of the programme shared compelling testimonies of growth and impact.

A Nigerian beneficiary, Aisha Samira Abdullahi, revealed that her business recorded a 200 per cent growth and now generates $40,000 annually while creating jobs and training young women in fashion.

South African entrepreneur, Kemiso Motholo, said the programme enabled his company to impact over 20,000 people and attract additional funding.

From Kenya, Aisha Langat, disclosed that her agribusiness now generates over $500,000 in revenue and supports 12,000 smallholder farmers.

Other beneficiaries, including Sabrina Berrehal and Harouna Diop, highlighted improvements in sustainability, job creation and climate-resilient agriculture across their communities.

Since its launch, the TEF Entrepreneurship Programme has become one of Africa’s leading philanthropic initiatives focused on empowering entrepreneurs across all 54 African countries.

Stakeholders at the event agreed that the programme continues to play a critical role in addressing unemployment, reducing poverty and fostering innovation. As the 2026 cohort begins its journey, Elumelu reiterated a call to action:

“Your success will make the difference. The future of Africa is in your hands.”

But in today’s fast-changing, hyper-connected, and competitive world, your 40s are more than just a checkpoint.

They represent a critical decade of transition where your personal brand must evolve to keep you not only visible but also valuable and future-ready as you approach your 50s.

By the time many professionals hit their 40s, they have already built careers, accumulated experiences, and earned recognition in their fields.

But here’s the real question: How do you ensure that your story doesn’t plateau but instead evolves to remain compelling?

This is where personal branding in your 40s becomes essential:

1. From Proving Yourself to Positioning Yourself

In your 20s and 30s, much of your personal brand is tied to proving yourself, showing you can deliver, grow, and compete. In your 40s, the focus shifts. It is no longer about chasing every opportunity but positioning yourself as someone who creates opportunities for others.

Take Ibukun Awosika, for instance. By her 40s, she had already proven herself as a successful entrepreneur. But she didn’t stop there, she positioned herself as a board leader, mentor, and advocate for women in business, which later elevated her to become the first female Chairperson of First Bank Nigeria.

Her brand wasn’t just about building a business but about creating platforms for others to rise.

Lesson: In your 40s, your brand should reflect influence and contribution, not just competence.

2. Leveraging Experience Without Becoming “Stuck”

One of the biggest traps professionals fall into in their 40s is comfort. You’ve put in the work, you’ve built systems that work for you, and suddenly you risk becoming rigid. But the world around you is disruptive and dynamic.

Barack Obama is a good example. By his early 40s, he could have settled as a respected law professor and state senator.

Instead, he rebranded himself onto the global stage with a message of hope and transformation, positioning himself for the U.S. presidency at 47. He showed that experience must be paired with adaptability to remain relevant.

Lesson: In your 40s, be open to re-inventing yourself and your expertise for new platforms and audiences.

3. Integrating Wellbeing and Mindfulness Into Your Brand

Your 40s are also a time where balance becomes non-negotiable. Career demands, family responsibilities, financial commitments, and health concerns all converge in this decade. If your personal brand is built only on professional achievements but neglects wellbeing, it may lack sustainability.

Think of Michelle Obama in her 40s. She could have defined her brand solely as the First Lady. Instead, she emphasized family values, wellness, and authenticity, inspiring millions with her “Let’s Move” campaign and later her memoir Becoming. Her brand became relatable and deeply human.

Lesson: In your 40s, your brand must reflect not just success, but also balance and authenticity.

4. Financial Intelligence as a Branding Element

By your 40s, conversations about money shift. It’s no longer about just earning more; it’s about sustaining wealth, making smarter financial choices, and preparing for the future.

Tony Elumelu provides a strong Nigerian example. By his 40s, he had already established himself in banking.

But his personal brand evolved beyond finance into wealth creation, entrepreneurship, and philanthropy through the Tony Elumelu Foundation. His financial intelligence became part of his brand identity.

Lesson: People in their 40s should be seen as strategic thinkers, not just hard workers.

5. The Power of Patience and Values

In your 20s and 30s, speed is celebrated promotions, recognition, and fast growth. But in your 40s, patience and values become your superpower. People now look at the substance behind your success.

Ngozi Okonjo-Iweala built her early reputation as a respected economist, but in her 40s, her brand shifted toward values-driven leadership and reform. That consistent brand later earned her global trust and influence, culminating in her appointment as the first African woman to head the World Trade Organization in her 60s.

Lesson: By your 40s, your brand must highlight integrity, vision, and principles.

6. Building Your Legacy Narrative

One of the most strategic questions you can ask in your 40s is: What do I want to be remembered for?

This isn’t about retirement planning, it’s about legacy planning. Your brand should begin to reflect the seeds of your long-term impact.

Take Elon Musk, for example. By his 40s, he wasn’t just building companies (Tesla, SpaceX, SolarCity); he was shaping a narrative of global impact around clean energy, space exploration, and the future of humanity. Whether you agree with his style or not, his brand is strongly tied to legacy.

Lesson: In your 40s, start designing your impact story, not just your career story.

On a final note, Personal branding in your 40s is about evolution, not reinvention. You already have a foundation; now it’s about ensuring it adapts to changing realities, remains visible in global conversations, and reflects not just what you do but who you are becoming.

As you step into your 50s, your personal brand should feel less like a résumé and more like a story of relevance, resilience, and responsibility.

The world needs your experience, but it also needs your adaptability, balance, and vision. Your 40s give you the chance to shape that story intentionally, authentically, and powerfully.

The recapitalization policy mandates banks with international licenses to meet a minimum capital of N500 billion from the N50 billion previously, N200 billion for national banks from N25 billion, and N50 billion for regional banks from N10 billion. 

With the deadline of March 31, 2026,  and less than 293 days to the deadline, the directive has paved the way for a transformative shift in the banking sector, raising critical questions about the survival of small banks and the implications on the Nigerian financial landscape.

While some tier 2 and tier 3 banks are yet to make any large movements towards meeting the capital threshold, some tier 1 banks like Zenith Bank Plc which raised N290 billion through a combined rights issue and public offer, which brought its total capital to N614.65 billion, surpassing the N500 billion benchmark, and Access Bank Plc has also met the CBN threshold.

Bank Executives Betting Big on their institutions

As the deadline draws closer, a notable trend has surfaced in the financial sector with bank executives and insiders buying large quantities of their banks’ shares.

This reflects growing confidence in their institutions’ future performance enough to back them financially which can also convince other investors to invest.

Recently, Tony Elumelu, chairman of the United Bank for Africa purchased 45 million shares worth N1.54 billion between May 22 and 23, 2025, and within a week later, he bought an additional share worth N43.9 billion between May 29 and 30, while encouraging other shareholders to invest their dividends in the company.

By investing their capital, executives demonstrate belief in their banks’ growth, which can also attract retail and institutional investors.

Strategies for Survival

To survive, tier 2 and tier 3 banks must adopt a strategy if they wish to remain in the Nigerian banking sector. The options for banks that will survive have been defined; to survive, you either raise capital, merge, or downgrade your operational license.

• Capital Raising: For tier 2 and tier 3 banks to survive, they need to meet the capital threshold set by the CBN to remain a player in the Nigerian financial sector. They can explore options such as raising capital through rights issues, private placements by targeting private equity investors, or public offers.

• Mergers and Acquisition: Tier 2 and tier 3 banks can decide to merge to share the burdens, as the banks combine resources to meet the requirements. However, mergers are expected to take place in the banking sector, just like what occurred during the 2004 recapitalization exercise, which reduced the number of banks from 89 to 25. A similar occurrence might take place, reducing the available options available to consumers

• License Downgrades: The CBN capital recapitalization policy gives room for institutions that are unable to meet the capital threshold to relinquish their license. For an international or national bank that cannot meet the capital requirement before the deadline, the bank can step down its operation to become a regional bank, thereby reducing its capital obligation.

Will small banks survive or become casualties of a transforming financial system?

Tier 2 and tier 3 banks’ survival relies on their ability to innovate and adapt to the changing banking sector.

Some banks may leverage partnerships, mergers, and acquisitions to boost their financial standing. Others might decide to downgrade their operations focusing on underserved markets to stay relevant post-recapitalization exercise.

Tier 2 and tier 3 banks face steep competition from bigger players in the sector, as investor confidence in smaller institutions remains shaky. While some banks may face becoming stronger and more competitive, others might have to take the hard route of downgrading their license or exiting the market.

The fate of small banks will largely be driven by the ability to innovate, adapt, and align their strategies with regulatory requirements and market demands.

Disclosed in a regulatory filing on the Nigerian Exchange, signed by Bili A. Odum, UBA group company secretary/legal counsel, the shares were acquired between May 29 and May 30, 2025, at prices ranging from N34.55 to N34.75 per share, with an average price of N34.64.

A breakdown of the transaction showed that 100 million shares were bought at N34.70, 550 million at N34.65, 200 million at N34.75, 400 million at N34.55, and approximately 17.7 million at N34.70, bringing the total to over 1.26 billion shares.

The purchase follows Elumelu ’s recent announcement to raise his stake in UBA, aligning with efforts to meet the Central Bank of Nigeria’s (CBN) new capital requirements.

The CBN has mandated banks with international licenses, including UBA, to increase their capital base to N500 billion by March 2026.

The council, established by IMF Managing Director Kristalina Georgieva, is tasked with shaping global policies that drive innovation and economic expansion.

Elumelu’s appointment places Africa’s entrepreneurial ambitions at the centre of high-level economic discussions. 

A fierce advocate for entrepreneurship, he has long led private sector-led development across the continent. Through his Tony Elumelu Foundation, over 25,000 African entrepreneurs have received funding, mentorship, and training since 2015. 

His philosophy of Africapitalism—the belief that Africa’s private sector must spearhead the continent’s transformation—aligns closely with the council’s objectives.

The IMF Advisory Council is a heavyweight gathering of business leaders, policymakers, and academics. Members include Salesforce co-founder Marc Benioff, Vodafone Group CEO Margherita Della Valle, Tata Group chairman Natarajan Chandrasekaran, and Vista Equity Partners CEO Robert Smith. 

Others on the list are Argentine Minister of Deregulation and State Transformation Federico Sturzenegger, University of Chicago economist Ufuk Akcigit, Saudi Ambassador to the U.S. Reema Bandar Al-Saud, and Banco Santander’s executive chair Ana Botín.

Speaking at the council’s inaugural meeting on 26 March 2025, Kristalina Georgieva said: “The Council brings together a group of leading thinkers and practitioners in business, finance, academia, and policymaking to share their views and experiences on how macroeconomic and financial policies can provide a supportive environment for innovation, entrepreneurship, and productivity—key ingredients for a thriving private sector and strong economic growth.”

For Elumelu, this will help push Africa’s business agenda globally. His influence, combined with his deep-rooted belief in sustainable investment, will ensure discussions on removing barriers to entrepreneurship. 

Through the programme TEF will provide the entrepreneurs with $5,000 in seed capital, comprehensive business training, mentorship, and access to invaluable networks.

“Empowering entrepreneurs is not just a moral imperative, but also a strategic investment in Africa’s future. By providing the necessary access to capital, mentorship, and resources, we are unlocking the potential of Africa’s entrepreneurial talent, eradicating poverty, driving self-reliance, and paving the way for inclusive growth and prosperity on the continent.

This partnership between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation not only reflects our shared vision of empowering Africa’s next generation of business leaders, but will also create a ripple effect of economic transformation across the continent”, Tony Elumelu, the chairman of TEF stated.

Since the launch of the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has provided up to 2.5 million young Africans with access to trainings on its digital hub, TEFConnect, and disbursed over US$ 100 million in direct funding to more than 21,000 African women and men, who have collectively created over 1.5 million direct and indirect jobs.

Through its initiatives, the Tony Elumelu Foundation has brought 2 million Africans out of poverty. In addition to its self-funded programmes, TEF works with international partners including the EU, the UNDP, the ICRC and the Ikea Foundation.

The partnership with the Khalifa Bin Zayed Al Nahyan Foundation, is the first with a Gulf based philanthropy and represents a further example of the strong investment, diplomatic and cultural ties between the GCC and Africa.

Confirming the partnership in an email to Techeconomy, Somachi Chris-Asoluka, chief executive officer, Tony Elumelu Foundation (TEF), said:

“This partnership not only underscores our unwavering commitment to fostering entrepreneurship across Africa but also signifies a deepening of ties between Africa and the Gulf Cooperation Council (GCC) region. By joining forces, we are taking a monumental step towards realising our vision of a self-reliant and prosperous Africa, driven by its own entrepreneurial talent.

The Tony Elumelu Foundation is currently accepting applications from young entrepreneurs across Africa with innovative business ideas or existing businesses not older than five years on TEFConnect.

African entrepreneurs are encouraged to apply to initiatives to receive training, mentorship, access to networks, and funding.

Application deadline is March 1, 2025.

The likes of Aliko Dangote, Mike Adenuga, Leo Stan Ekeh, Segun Agbaje, Tony Elumelu, and corporates like GTCO (Guaranty Trust Holding Company), Zenith Bank, Zinox, Globacom, among others, have at one time or another faced a blizzard of blackmail.

The blackmailers’ intents are multifarious: to make easy money (ransom), damage the reputation of their target, ruin an enterprise, or inflict emotional trauma on their victims.

In the past few years, several multinationals have left the country. On paper, some of the multinationals claim forex crunch, rising cost of doing business and in some cases, their inability to remit their profits out of the country to service loans in their home countries or elsewhere as reasons for exiting Nigeria, Africa’s largest market for all products and services.

But those who ever cared to investigate the cause of the unprecedented exodus of these multinationals would easily point to blackmail as the chief reason for the mass exit of these mega corporates as well as a major reason why other foreign investors were frustrated from investing in Nigeria.

The Nigerian bureaucracy can blackmail you out of business by denying you all necessary niceties, documents and requirements that would enable you set forth or grow your enterprise.

How about this? In September 2023, when President Bola Tinubu attended the G20 Summit in India, one of his first assignments was a meeting with Mr. Prakash Hinduja, Chairman and CEO of the Hinduja Group of companies, a conglomerate with a total asset portfolio exceeding $100 billion.

The Indian billionaire lauded Tinubu and pledged to invest in Nigeria only because of his confidence in the Nigerian president. But he did not fail to remind President Tinubu how he was frustrated years back when he attempted to invest in Nigeria.

His exact words:

“I have had paperwork stalled in Nigerian bureaucracy for over one year, especially in FCT. But I knew that you would be purpose-driven in this endeavour and God will help you to turn Nigeria’s rich promise into rich reality for all of its citizens.”

Any discerning mind would notice the rebirth of hope in an investor who had been frustrated out of Nigeria by Abuja bureaucracy. In case you don’t get it, Mr Hinduja was referring to another type of common blackmail in Nigeria. “If you don’t see us, you won’t get the support you need.” Plain bribery and corruption which runs in the civil service.

In the United States, a country with unapologetic capitalist culture, blackmail is considered a serious crime under federal law and every state law.

Culprits can be jailed and/or punished with huge fines in some cases. The same applies in Europe and Asia where the blackmailer is neither spared nor pampered.

Nigeria has a panoply of laws including the Cybercrime Act to deal with corporate blackmailers. However, the laws are made weak because, in some cases, the legal processes are convoluted and drag leisurely, making the suspects exploit loopholes within the system to dodge conviction.

Corporate  blackmailers are like the cunning fox. They know that reputational damage is a high risk for their victim; hence, they often drag the case in a court of law to keep it perpetually on the front burner of public discourse in the media.

But truth be told, these blackmailers are the real enemies of Nigeria and President Tinubu. For while Tinubu is making genuine efforts to woo investors to Nigeria, blackmailers are busy rubbishing existing investors and especially indigenous investors. If we don’t treat our indigenous investors well, how do we expect a foreigner to invest in our economy? This is the paradox and the real reason Tinubu should come hard on corporate blackmailers.

A few instances of corporate blackmail and embarrassment. Nigeria’s highly successful business honcho, Mike Adenuga, had his office brusquely raided in 2006 by operatives of the Economic and Financial Crimes Commission (EFCC). The raid and ‘arrest’ of Adenuga were widely exposed in the media.

At the end, it turned out that Adenuga had nothing sleazy in his closet that the accusers could use to nail him in the court of law. But he was sufficiently terrified and blackmailed such that he had to go on temporary exile from Nigeria to Ghana to the UK.

Another Nigerian business success story, Aliko Dangote, has been in and out of blackmail, sometimes from competitors, career blackmailers who want a chunk of his money, or even public institutions who, rather than help his business empire to thrive and keep thriving, prefer to bring him down.

The most recent of such serial blackmail is the running campaign to discredit his $20 billion refinery. First, they claimed it was non-existent, and that failed.

They switched to, it can never take off, which also failed. They tried the fib that the refinery was producing low-quality products; this also failed.

Then, there was that disingenuous yarn that he had no approval, no licence for the project, yet the same Federal Government acquired 7.5% of an unlicensed company shares with public fund? This, again, failed to fly. There were many more, but they all crashed, as does every lie.

Then, there was the failed but long-drawn corporate blackmail against Leo Stan Ekeh, the listless and gifted founder of the Zinox Group, a global conglomerate spanning ICT, e-commerce, real estate, pharmaceuticals, entertainment, and more. His case is such that pools tears in the eyes.

A case of a fry threatening to swallow a barracuda. Several studies have identified envy, money (ransom), extreme competitiveness, desire to tarnish a reputation, a knack to hurt an enterprise and inflict emotional pain on the business owners as some of the drivers of corporate blackmail.

In some cases, it may just be one of the factors named above. But in the case of Ekeh, it’s a combination of envy, extortion, and reputational damage.

The case of Ekeh is one that tasks your state of sanity. It got me thinking about how much premium Nigerians, nay Africans, place on their brightest and best, especially those who by sheer dint of hard work, tenacity, and courage to dare the odds, burrowed their way from the lowest nadir of their enterprise to the zenith of it.

Nigerian entrepreneurs like Ekeh and many others across the country built their businesses from scratch. They deserve praise for their industry and deserve to be protected from blackmail hawks.

The various but failed attempts to link Ekeh and any of the companies associated with his name to unhealthy corporate governance smacks of desperation and a primitive show of disrespect for a man whose collateral is integrity. Any African who plays big in the Africa ICT marketplace knows that without integrity, you cannot have as much as a handshake with over 31 global brands like Microsoft, Apple, HP, Samsung, IBM, Cisco, Starlink, among others. Zinox Group does.

Every Nigerian government at national and sub-national level claims they are wooing foreign investors. But they forget that how Nigeria treats her indigenous investors will influence how foreign investors perceive the Nigerian market.

You cannot expose your home-grown investors to the vagaries of blackmail and treachery and expect foreign investors to trust you. This is the task before Tinubu. He must cleanse the corporate ecosystem of both systemic and individual blackmailers.

Gaya, a Public Policy Analyst, writes from Kano

Chukwuma Nweke previously held roles of Chief Operating Officer and Executive Director, Retail & Payments. As a Deputy Managing Director, He will start his new position on 1st October, the financial institution disclosed in a statement yesterday.

According to Ramon Olanrewaju, UBA’s Group Head of Media and External Relations, he is the deputy managing director “in charge of IT and operations,”

Muyiwa Akinyemi, who has been the bank’s deputy managing director since August 2022, is now “the deputy managing director in charge of southern operations,” the spokesperson also noted.

But Who is Chukwuma Nweke?

Chukwuma Nweke is a graduate of Accountancy, from the University of Nsukka, Enugu State, where he also holds a Master’s of Business Administration.

He is a Fellow of the Institute of Chartered Accountants of Nigeria, as well as an honorary member of the Chartered Institute of Bankers of Nigeria.

His over 30 years of experience in the banking industry encompasses audit, retail banking, banking operations, strategy, technology, and finance.

Reacting to his appointment, Tony Elumelu Chairperson of UBA, said “The appointment of Chukwuma Nweke underlines once again, UBA’s commitment to upholding the highest governance and operational leadership,”

“His deep industry expertise and proven track record make him an invaluable asset to our board, and we are confident that his contributions will further strengthen the group’s growth and success.”

In the same vein, the pan-African bank, which has footprints in 20 markets on the continent, announced the exit of Kayode Fasola, a non-executive director, who has retired from the directors’ board.

Mr Fasola joined the lender in August 2018 and once served as the chair of its Finance & General Purpose Committee as well as a member of the Board Audit & Governance, Credit and Statutory Audit committees.

His areas of expertise include performance management, risk management, banking operations, asset management, business strategy, banking operations, credit/financial analysis, and insurance among others.

]]> https://techeconomy.ng/meet-chukwuma-nweke-ubas-newly-appointed/feed/ 0 https://techeconomy.ng/heirs-insurance-shortlists-15-essay-finalists-winner-takes-home-%e2%82%a68-million/ https://techeconomy.ng/heirs-insurance-shortlists-15-essay-finalists-winner-takes-home-%e2%82%a68-million/#respond Tue, 03 Sep 2024 12:42:43 +0000 https://techeconomy.ng/?p=142099 Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced that the finalist in its third essay competition will win ₦8 million cash price.

The leading insurance company also shortlisted its top 15 semi-finalists for its third edition of the Essay Championship. The top 15 participants emerged from a competitive pool of nearly 5,000 entries from Junior Secondary School students across Nigeria.

Speaking about the meticulous approach used in selecting the finalists, the company noted, “All entries underwent a rigorous grading process by renowned academics, focusing on originality, depth of analysis, and clarity of thought. Furthermore, Deloitte & Touche, a leading audit and quality assurance firm, independently reviewed the grading process to ensure objectivity.”

“Out of the shortlisted participants, three students will proceed to the grand finale for a concluding presentation on an all-expense-paid trip sponsored by Heirs Insurance Group, which will take place at Transcorp Hilton Abuja in September. Winners of the Heirs Insurance Essay Championship will receive a combined scholarship of ₦8 million, with the final winner’s school receiving an additional ₦1 million donation.”

The Heirs Insurance Essay Championship is part of the corporate social responsibility (CSR) efforts of the group, aimed at improving the quality of education for the next generation. The championship also highlights emerging talent while bringing parents and children closer to insurance through extended workshops on financial security.

This year’s competition saw creative entries from 35 states across the country, in response to the essay topic “If I Could Invent Something New.” In appreciation of the creative submissions, all participating students will receive a certificate of participation.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company with investments across 24 countries and four continents, founded and led by Tony Elumelu. Heirs Insurance Group is championing financial inclusion and leading the digital insurance space in Nigeria, demonstrating its mission to democratize access to insurance. As part of its unique proposition, the group has rolled out digital and mobile channels to simplify access to insurance and make it accessible to everyone.