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BREAKING: Tinubu Nominates Cardoso As CBN Governor

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Dr Olayemi Cardoso

President Bola Tinubu has nominated Dr. Olayemi Michael Cardoso as the new Governor of the Central Bank of Nigeria (CBN).

A press statement by presidential spokesman, Ajuri Ngelale, disclosed on Friday evening that Cardoso will serve for a term of five (5) years at the first instance, pending his confirmation by the Nigerian Senate.

“This directive is in conformity with Section 8 (1) of the Central Bank of Nigeria Act, 2007, which vests in the President of the Federal Republic of Nigeria, the authority to appoint the Governor and Four (4) Deputy Governors for the Central Bank of Nigeria (CBN), subject to confirmation by the Senate of the Federal Republic of Nigeria.

“Furthermore, President Bola Tinubu has approved the nomination of four new Deputy Governors of the Central Bank of Nigeria (CBN), for a term of five (5) years at the first instance, pending their confirmation by the Nigerian Senate,” he stated.

The new Deputy Governors include Mrs. Emem Nnana Usoro, Mr. Muhammad Sani Abdullahi Dattijo, Mr. Philip Ikeazor, and Dr. Bala M. Bello.

“In line with President Bola Tinubu’s Renewed Hope agenda, the President expects the above listed nominees to successfully implement critical reforms at the Central Bank of Nigeria, which will enhance the confidence of Nigerians and international partners in the restructuring of the Nigerian economy toward sustainable growth and prosperity for all,” Ngelale stated.

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CBN Gives Fresh Detail About Opay, Palmpay, Moniepoint, Others

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Cardoso through the CNB in April placed an embargo on Opay, Palmpay, Kuda Bank, Moniepoint and other fintech companies from onboarding new customers,

By John Michael Ojo

The Governor of Central Bank of Nigeria, Olayemi Cardoso, during the MPC meeting on Tuesday revealed that mobile money operators who are currently being restricted from enrolling new customers would soon be allowed to carry our their operations without any form of restrictions in the next few months.

Cardoso who stated this in Abuja, denied revolking the licences of these fintech companies.

The CBN Governor, claimed that the Central Bank was working round the clock by engaging with stakeholders in order to strengthen the activities of Fintech companies in the country.

He added that the CBN is also working to mitigate against every loophole used by criminal elements to facilitate money laundering within the financial system while maintaining the integrity of the industry.

“I am confident that as time goes on, and hopefully in another couple of months, all these will be something of the past and then you will see that sector going back into what they’ve been known to do before, but certainly with a very stronger regulatory framework,” he said.

Cardoso through the CNB in April placed an embargo on Opay, Palmpay, Kuda Bank, Moniepoint and other fintech companies from onboarding new customers, a move which was heavily criticized and seen as a gag on the financial sub-sector.

However, the CBN Governor who has now provided the public with more details about the action of the apex bank on the fintech companies said: “The fintechs have not been singled out for any exceptional kind of treatment. The CBN remains proud of the exploits of fintech firms in the last number of years and the apex bank will continue to support and strengthen them.

“However, regulation is very critical in a sector that seems to have grown so incredibly rapidly.

“More recently, we had the cause to take a deep dive look at the whole issue of illicit flows and money laundering particularly within the non-heavily regulated banking system and we all know some of the issues that came out with cryptos and some of the messages we put out after that, which of course gave us some cause to know that there is the need for heightened surveillance,” Cardoso stated.

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Access Holdings Gets New CEO To Replace Wigwe 

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Bolaji Agbede

By John Michael OJo

Following the death of its Co-founder and Group Chief Executive Officer, Dr Herbert Wigwe in a helicopter crash on Friday night in the United States, Access Holdings Plc on Monday appointed Ms. Bolaji Agbede as the Acting Group Chief Executive Officer of Access Holdings.

This was made known in a statement by the company’s Board of Directors dated February 12, 2024.

The statement which added that the appointment was subject to the approval of the Central Bank of Nigeria, reads: “Further to its announcement dated February 11, 2024, the Board of Directors of Access Holdings Plc (‘the Company’) has today announced the appointment of Ms Bolaji Agbede as the Acting Group Chief Executive Officer of the Company following the unfortunate demise of its former Group Chief Executive Officer, Dr Herbert Wigwe, on February 9, 2024.

“The appointment is subject to the approval of the Central Bank of Nigeria,” the statement read in part.

Agbede  who joined Access Bank in 2003 as an Assistant General has nearly three decades of professional experience cutting across banking and business consultancy services.

She has also served in different roles at the bank including, Head, Group Human Resources between 2010 and 2022 before she was appointed the company’s founding Executive Director, Business Support in 2022, a role she held until her new appointment

Agbede who commenced her professional career in Guaranty Trust Bank, holds a Bachelor’s Degree in Mathematics and Statistics from the University of Lagos and a Masters of Business Administration Degree from Cranfield University UK in 2002.

She is also a member of the Chartered Institute of Management UK and the Chartered Institute of Personnel Management of Nigeria.

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Ogun Constitutes Ambassadors To Intensify Efforts On Investment Drive

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L-R: Chairman, Manufacturers Association of Nigeria (Ogun State), Mr. George Onafowokan; Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo; Special Adviser, OgunInvest, Ms. Sola Arobieke; Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela; Zonal Director, Nigeria Investment Promotion Council, Mr. Hassan Lawal, at the OgunInvest Ambassadors Network Inauguration and Orientation Course held at OgunInvest Office, Isheri, Ogun State.

Ogun State Governor Prince Dapo Abiodun has inaugurated a 12-man committee of Ogun Invest Ambassador Network to create a robust and seamless working relationship between government and investors, for businesses to thrive.

Governor Abiodun, during the inauguration and orientation course for the ambassadors, at Ogun Invest Office, Isheri, in Ifo Local Government Area of the state, said the initiative was a landmark in the history of the state, as it would make a huge difference to the growth of current and potential investors willing to do business in the state.

He explained that the ambassadors would be responsible for enlightening investors on how to harness the opportunities that abound and what they stand to gain by doing business with the state, adding that their role is pivotal in building bridges, fostering collaboration and attracting investors that would propel the state to new heights.

Governor Abiodun, represented by the Commissioner for Finance and Chief Economic Adviser, Mr. Dapo Okubadejo tasked the ambassadors to sharpen their communication skills, charging them to make accountability and transparency their watchword.

The state’s helmsman disclosed that the government would, on a regular basis, carry out an evaluation performance on them through private organisations transacting business with the state, promising that those who performed well would be compensated accordingly.

Speaking, Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela, who admonished them to be diligent, in making Investment Promotion and Facilitation Agency a success, described them as a link between government and investors, saying a proper regulatory framework would be established to earn investors trust and respect.

Identifying the calibre of people in the network chain, Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, noted that a new lease of life would soon commence in the state investment journey, expressing the hope that their selection would ensure a critical turning point in the investment atmosphere of the state and charged them to bring to bear their professionalism in the course of enhancing the industrial sector

Earlier, the Special Adviser on Ogun State Investment Promotion and Facilitation Agency (Ogun Invest), Ms. Sola Arobieke, said the initiative was part of the drive to attract investments, enhance ease of doing business and carry out the service of a one-stop shop, to ensure access to relevant information and streamline processes for investors in the state, pointing out that the Ambassadors Network is a team of dedicated individuals from different Ministries, Departments and Agencies (MDAs), saddled with investment-related functions, to ease the settling of investors and investments into the state.

On his part, the Managing Director, Coleman Technical Industries Ltd., Mr. George Onafowokan, who spoke on, “Promoting Investment Through Service Excellence”, said the selected ambassadors should see their nomination as an opportunity to serve and see themselves as representatives of the state front liners at giving investors excellent service and be ready to drive both existing and potential investors through excellent service delivery

The 12 ambassadors inaugurated include Consultant, Bureau of Lands and Survey, Mr. Fatai Adeboyejo; Deputy Surveyor-General, Bureau of Lands and Survey, Mrs. Halimat Yusuf; Director, Physical Planning, Ministry of Physical Planning and Urban Development, Mrs. Felicia Aleburu; Director, Planning, Research and Statistics, Physical Planning and Urban Development Mr. Jolaoluwa Olugbemisola; Director, Planning, Research and Statistics, Ministry of Agriculture, Mr. Suraj Fashola; Director, Land Acquisition, Bureau of Lands and Survey, Mr. Anifowose Olatunji and Director of Commercial Services, Ministry of Justice, Mr. Olumuyiwa Ogunsanwo.

Others are Director of Environmental Quality Control, Ministry of Environment, Mrs. Mary Adeosun; Director of Geological Services, Ministry of Industry, Trade and Investment, Mr. Lekan Eniolawun; Director, Estate and Facility Management, Ogun State Property Investment Corporation, Mr. Olusola Abijo; Director, Estate, Housing Corporation, Mr. Nafiu Olaleye and Deputy Director, Local Government Affairs, Ministry of Local Government and Chieftaincy Affairs, Mrs. Olapemiju Quadri.

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