News
Dangote announces new appointments for strategic growth sustenance
In order to strengthen the group’s Executive management team and sustain its strategic business growth trajectory, Africa’s foremost indigenous conglomerate, Dangote Industries Limited (DIL) has announced new appointments.
In the new organizational rejig, Olakunle Alake the erstwhile Chief Operating Officer (COO) is now the Group Managing Director and Dr. Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to the office of Group Executive Director, President’s Office, where she will take on new roles in addition to her schedule as the Risk Officer. She is the first ever female executive director in Dangote Group.
Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to the office of Group Executive Director, President’s Office
The management also announced the appointment of Austine Ometoruwa as Group Executive Director, Corporate Finance and Treasury.
Earlier the Board of Dangote Cement Plc, global, announced the appointment of Cherie Blair and Mick Davies as Independent Non-Executive Directors.
President/Chief Executive, Dangote Group, Aliko Dangote, speaking on the new appointments said “it is exciting seeing a female occupy such a high position. We are gender sensitive and create equal opportunities for both male and female to get to the top.”
“The new appointments are to strengthen the Group’s executive management team and to consolidate on its strategic business growth trajectory”, he added.
Olakunle Alake, the erstwhile Chief Operating Officer (COO) is now the Group Managing Director
Alake has been the Chief Operating Officer of Dangote Industries Limited since 2007. He serves on the board of Dangote Sugar Refinery Plc, NASCON Allied Industries PLC, Dangote Cement PLC and Dangote Flour Mills PLC. Mr. Alake’s experience spans 34 years which covers banking, management consultancy and manufacturing industries.
He joined Dangote Group in July 1997 and served as its Financial Controller and Head of Strategic Services till 2001 when he was appointed to the board of Dangote Industries Limited as Executive Director/ Group Strategist.
Austine Ometoruwa, Group Executive Director, Corporate Finance and Treasury
He started his working career at PricewaterhouseCoopers, a firm of Chartered Accountants in September 1984 and left in 1990 to join Liberty Merchant Bank Limited as the Financial Controller for three years.
Between August 1993 and July 1997, Mr. Alake served as the Managing Director/Chief Executive Officer of Liberty Merchant Securities Limited and was part of the team that provided consultancy services for the smooth take-over of the International Trust Bank Plc, by Dangote Group in August 1996. He is a Fellow of the Institute of Chartered Accountants of Nigeria. Mr. Alake holds a Bachelor’s degree in Civil Engineering from Obafemi Awolowo University, Ile-Ife in 1983.
Dr. Fajemirokun, a consummate Risk Management & Insurance specialist has over 18 years diverse experience in developing and implementing risk management strategies in Financial, Engineering, Manufacturing and other industries.
She started her career with Ove Arup and Partners as a Fire Engineer where she was responsible for carrying out qualitative and quantitative risk assessment of various assets and developing risk assessment frameworks for quantifying identified risks.
She later joined Deutsche Bank AG, UK, and served in senior leadership roles such as Director and Global Head Operational Risk, Head of Transaction Management Group for leverage finance at the Corporate and Investment Bank. Prior to specializing in the Risk Management field, she held positions in finance as a front office quantitative analyst at Goldman Sachs London and New York.
Dr. Fajemirokun worked with First Bank of Nigeria where she developed the operational risk management framework for the bank as well as its Business Continuity Certification by the British Standard Institute. She also managed and tracked the firm’s risks across all directorates, transaction services and alternative investments.
Cherie Blair, Independent Non-Executive Director
In 2010, She founded and headed AFRisk Management Consultants Limited which developed the enterprise risk management frameworks for some of the country’s major institutions including Central Bank of Nigeria, First Bank Nigeria and First Bank Capital Plc.
She was appointed Chief Risk Officer of Dangote Group in 2013 and leads the Risk Management Functions for the Group and its various Businesses where she oversees the company’s governance model and enterprise risk program. She develops and manages processes to identify, assess, monitor and reduce risks that could interfere with the achievement of the company’s goals and objectives. She is also responsible for managing the Group’s Insurance, Procurement Portfolio and Logistics.
A holder of B.Eng. in Civil, Structural and Fire Engineering and a Ph.D. in Risk Informed Engineering both from the University of Manchester, UK, Dr. Fajemirokun is a Fellow of the Engineering and Physical Sciences Research Council (EPSRC) and Specialist member (SIRM) of the Global Institute of Risk Management. She is also a visiting professor at the University of Manchester, UK. She has been recognized globally for her work with the Operational Riskdata Exchange Association (ORX), Institute of Risk Management, UK. She is a member of the Lagos State Research and Innovation Council.
Ometoruwa is an accomplished international investment banker. Prior to joining the Dangote Group as the Group Executive Director, Corporate Finance and Treasury, Austine Ometoruwa provided advisory services to the Dangote Group over the past 25 years in his capacity as the Executive Chairman of his firm, Boston Trico Capital LLC.
He started his professional career as a credit analyst at Chase Manhattan Bank. He thereafter progressed to Bank of Boston as the General Manager in Nigeria before moving on to Standard Bank of South Africa (Stanbic) as Strategy Consultant.
Mr Ometoruwa was the first Nigerian appointed as Executive Director to the Board of Citibank Nigeria leading its West Africa investment banking and subsequently as CEO and Regional Director of Corporate & Investment Bank, Citibank Middle East North Africa (MENA) operating in Cairo, London & New York.
Mr Ometoruwa setup and launched the Africa Finance Corporation (AFC) as the founding President and CEO.
He was awarded the Dean’s Prize and First Class Honours Bachelor’s Degree in Banking and Finance from the University of Lagos, Lagos, Nigeria.
Cherie Blair CBE, QC is a leading barrister with over 35 years’ experience in arbitration, mediation, public international law, human rights, employment law and European Community law. She studied law at the London School of Economics (LSE) and graduated with a First Class Degree in 1975. While studying for her Bar examinations she also taught Law at the University of Westminster. Cherie came top of her year in her Bar examinations and was called to the Bar in 1976. She was appointed Queen’s Counsel (QC) in 1995.
In 2000, shortly before the implementation of the Human Rights Act, Cherie and 21 other prominent Barristers set up a ground breaking legal practice, Matrix Chambers. She has also argued cases in the House of Lords, one of the most well-known being the Begum case. She is an accredited Advanced Mediator under the ADR Chambers/Harvard Law Project and an Elite Mediator with Clerksroom.
Cherie Blair, has appeared in the European Court of Justice and in multiple Commonwealth jurisdictions and also lectures internationally. She is the Chancellor Emeritus and Honorary Fellow of Liverpool John Moores University; Governor Emeritus and Honorary Fellow of the LSE and the Open University (D.Univ.Open 1999); LLD (Hons), University of Liverpool (2003); Hon.D.Lit UMIST (2003); Doctor of Laws (Westminster University).
Cherie Blair is the Founder and Chair of Omnia Strategy where she focuses on strategic international legal and advisory work and practices as a barrister, representing over 30 governments as well as numerous multinational corporations in international disputes.
In 2012, she was designated to serve on the ICSID panel of arbitrators and is a panellist at the Kuala Lumpur Regional Centre for Arbitration. She continues to work independently, primarily as an arbitrator and mediator
Cherie is closely involved with various charities and is a strong advocate for women’s rights. She is the founder of the Cherie Blair Foundation for Women, which runs programmes to support women entrepreneurs across the developing world, including Africa. She is also Vice Chair of the International Council on Women’s Business Leadership founded by Secretary Hillary Clinton.
Cherie sits as an Honorary Chair of the World Justice Project. In 2007, she received the Eleanor Roosevelt Val-Kill medal in recognition of her high ideals and courageous actions.
In 2013, she was awarded the CBE in the New Year Honours for her services to women’s issues and to charity in the UK and overseas.
Cherie is also an active campaigner for prison reform and was ‘President of The Commission on English Prisons Today’ between 2007 and 2009, under the auspices of the Howard League for Penal Reform.
She is an adviser to “B Team,” a not-for-profit initiative formed by a global group of leaders, to be a driving force for social, environmental and economic benefit. She is wife of former British Prime Minister Tony Blair.
Sir Mick Davies is currently Chairman of Macsteel, a global trading shipping company, and Chief Executive of the Conservative party of the United Kingdom.
Davies has occupied several directorship positions. From 2001 to 2003, he was Chief Executive of Xstrata Plc, one of the world’s largest global diversified mining and metal companies; executive director and chief financial officer of Billiton Plc; Chairman of Billiton Coal and Executive Director of South African State-owned Eskom.
With extensive capital markets and corporate transaction experience, he has raised over US$40 billion from global capital markets and successfully completed over US$120 billion of corporate transactions. He participated in the creation of the lngwe Coal Corporation in South Africa; listing of Billiton on the London Stock Exchange; merger of BHP and Billiton into the largest diversified mining company in the world and the successful merger of Xstrata and Glencore amongst others.
Sir Davies is the immediate past President of the Council of Members and Chairman of the Board of Trustees of the Jewish Leadership Council in the United Kingdom, member of the Brookings International Advisory Council and a Trustee of the Institute of National Security Studies, Israel.
He is a Chartered Accountant by profession and an alumnus of Theodor Herzl School in Port Elizabeth. He holds an honours degree in Commerce from Rhodes University. South Africa, and an Honorary Doctorate from Bar llan University. In the 2015 Queen’s birthday Honour’s list, he was made a Knight’s Bachelor
The Federal Government has officially lifted the five-year ban on mining activities in Zamfara State, citing improved security and the potential for economic growth in the mineral-rich region.
The announcement was made on Sunday by the Minister of Solid Minerals Development, Dele Alake, through his representative, Segun Tomori, during a press briefing in Abuja.
“The Federal Government has lifted the ban on mining exploration activities in Zamfara State, citing significant improvements in the security situation across the state,” the minister said in a statement.
Security Gains and Economic Promise
The ban, imposed in 2019 due to escalating insecurity and illegal mining, was described by Alake as a necessary but temporary measure to protect lives and resources. However, he noted that the ban inadvertently created a vacuum exploited by illegal miners, leading to resource plundering.
Alake praised recent security advancements under the Tinubu administration, highlighting the neutralization of notorious bandit commanders and other strategic wins, including the capture of Halilu Sububu, one of the state’s most wanted criminals.
“The existential threat to lives and properties that led to the 2019 ban has abated. The security operatives’ giant strides have led to a notable reduction in the level of insecurity,” Alake said.
He added that with the restoration of mining activities, Zamfara’s mineral wealth—ranging from gold and lithium to copper—could now be harnessed under strict regulation to contribute significantly to national revenue.
Boosting Regulation and Combating Illegal Mining
The minister emphasized that lifting the ban would pave the way for better regulation and monitoring of mining activities. This, he said, would enable authorities to tackle illegal mining more effectively and ensure Nigeria benefits fully from Zamfara’s mineral resources.
“By reopening this sector, we are prioritizing not only revenue generation but also intelligence gathering to curb illegal mining,” he said.
Addressing Controversies
Alake also addressed concerns surrounding Nigeria’s recent Memorandum of Understanding (MOU) with France, which had sparked controversy. He clarified that the agreement focused solely on capacity building and technical support for the mining sector.
“The high point of the MOU is on training and capacity building for our mining professionals. Similar agreements have been signed with Germany and Australia. Misinformation about ceding control over our mineral resources is uncalled for,” Alake said.
Press as Partners in Progress
Commending the media for their role in promoting reforms in the mining sector, Alake urged continued collaboration to drive transparency and attract foreign investments.
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed media reports suggesting that the recently resuscitated old Port Harcourt refinery has been shut down, labeling such claims as baseless and misleading.
In a statement issued in Abuja on Saturday, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, clarified that the refinery, with a capacity of 60,000 barrels per day, is “fully operational.”
The facility resumed operations two months ago after years of inactivity.
“We wish to clarify that such reports are totally false, as the refinery is fully operational, as verified a few days ago by former Group Managing Directors of NNPC,” Soneye said.
He added that preparations for the day’s loading operation are currently underway, emphasizing that the public should disregard the claims.
“Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip off Nigerians,” Soneye stated.
The old Port Harcourt refinery is part of the country’s efforts to revive its local refining capacity. Three years ago, the Federal Government approved $1.5 billion to rehabilitate the plant, which was initially shut down in 2019 due to operational challenges.
Despite being one of the largest oil producers globally, Nigeria has long relied on fuel imports to meet its domestic needs, swapping crude oil for petrol and other refined products. This dependency, coupled with government subsidies, has strained the nation’s foreign exchange reserves.
The recent return of the Port Harcourt refinery to operation follows the commissioning of the Dangote refinery, which began petrol production in September 2024. These developments are expected to reduce Nigeria’s reliance on imports and address long-standing issues in the petroleum sector.
The Inspector General of Police, Kayode Egbetokun, has declared that the era of armed and bank robberies in Lagos State is a thing of the past, attributing the success to the collaborative efforts between the police and the state government.
Egbetokun made this statement on Thursday during the 18th Annual Town Hall Meeting on Security organized by the Lagos State Security Trust Fund (LSSTF). He noted that since 2007, only one bank robbery had been successfully executed in the state, which occurred in 2014.
“There was a time when armed robbery and bank robbery were common in Lagos. However, I can confidently say that since 2007, only one bank robbery succeeded, and that was as far back as 2014. The days of armed robbery and bank robbery are gone,” he said.
The IGP commended the Lagos State Government for its consistent support, emphasizing the critical role it has played in maintaining security in the bustling economic hub of the nation. He highlighted the challenges posed by the state’s continuous internal migration, with thousands of people moving into Lagos daily, creating additional security demands.
“What we are doing here today is the usual assistance the state government has been giving to the police. Without this, we would have been overwhelmed with insecurity in Lagos State,” Egbetokun added.
At the event, Governor Babajide Sanwo-Olu further demonstrated his administration’s commitment to security by donating over 250 brand-new patrol vehicles, along with hardware, communication gadgets, and protective gear to the police.
In his address, Sanwo-Olu outlined the government’s efforts to scale up the use of technology and data for improved security and traffic monitoring. He revealed plans to deploy drone technology for surveillance of waterways and densely populated areas.
“The EGIS component of our mapping and digitalization has almost been completed. Lagos is now properly mapped, and drone technology will be deployed to enhance monitoring, crowd management, and traffic assessment. This will ensure real-time responses to incidents,” the governor explained.
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