Connect with us

Business

Aiteo announces Senior Leadership Appointments

Published

on

Following a review of its operational and investment objectives and in reaction to prevailing business environment, Aiteo has restructured its executive management, naming a number of critical appointments and reassignments. 

In confirming the appointments its Chief Executive and Executive Vice Chairman, Benedict Peters, explained that the organisation had undertaken the exercise driven by the necessity to realign its considerable interests across the various sectors within which it currently operates,“…to make the investment arms of the various businesses more effective; galvanise and enhance collective productivity to demonstrate visibly profitable outcomes for the ultimate benefit of its considerable stakeholders…”  Peters further observed that “… the uniqueness of the Group demands that an infusion of important impetus is given the necessary momentum by recognising as well as empowering key positions within the Group and realigning its considerable person-capacity to fit operational demands”, he said.

He further stated,“… I am delighted to confirm that we have been able to harmonise such a talented team to deepen and embolden the growth and future of our businesses, direction of which has been predicated on the urge to enhance innovative, new approaches to the beneficiation of resources across the Energy landscape.”

Mr Peters added that   “…we have always prided ourselves in housing a strong blend of skills which has been central to the attainment of our investment objectives. These appointments bring together important experiences as well as industry initiative, policy, technical and financing skills. Most importantly, it maximizes the strong energy among the team to provide material impact in sustaining refreshing, creative conviction to our approach to achieving the very lofty goals that we have set for ourselves”.

ALSO READ  Dangote Sinotruk Automobile expands to enhance local content, provides more jobs

Mr. Chike Onyejekwe, the pioneer Managing Director of Aiteo E & P Limited will be retiring from the company. Mr. Onyejekwe will be replaced as Managing Director by Mr. Victor Okoronkwo. Currently Senior Vice President, Commercial & Gas for Aiteo E & P Limited, Okoronkwo brings over 30 years of Oil and Gas experience to this position.  Prior to joining Aiteo, he worked in various leadership capacities with the Shell Group in Nigeria and abroad as General Manager.

Mr. Emmanuel Ukegbu the Chief Operating Officer of Aiteo E & P Limited will also be retiring from the company.  In related moves, Mr. Emmanuel Ogagarue currently General Manager, Assets will become the Director in charge of Asset Development and Engineering.

Mr. James Iwoh will become the Director in charge of Production and Operations, from his current position as General Manager, Operations.

Mr. Mitchell Uchegbulam the current Chief Financial Officer, becomes Group Head, Planning, Budget and Implementation and will report to the Group Office.

Mr. Taiye Eyewuoma, presently General Manager Joint Venture & Project Management becomes Acting Chief Financial Officer, Aiteo E & P Limited.

Mrs. Osareme Archibong, current Deputy Chief Financial Officer/ Head Corporate Finance, becomes General Manager, Joint Venture Finance, Aiteo E & P Limited.

Mr.  Uzoh Anijah–Obi, currently Treasury Manager becomes Deputy Chief Financial Officer, Aiteo E & P Limited. All appointments take immediate effect.

ALSO READ  I gave approval for NNPC loans not contracts – Osinbajo

Business

Cryptocurrency Is ‘Not Money’ – Trump

Published

on

By

US President, Donald Trump on Thursday expressed his mistrust of cryptocurrency, saying it was “not money” and warning that those wishing to join the trade would have to abide by banking regulations.

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump tweeted.

Trump, also stressed that cryptocurrency, whose electronic nature makes it nearly untraceable, could facilitate illegal activity.

Cryptocurrency has flourished since Bitcoin launched in 2009. But when Facebook unveiled plans last month for its own virtual currency, Libra, the announcement rattled financial regulators the world over.

With more than two billion Facebook users, the social media giant’s cryptocurrency — which is slated for a 2020 launch and already has multiple partners — could completely disrupt the financial world.

However, Trump said that Libra has “little standing or dependability.”

He also warned Facebook and other companies that, should they launch their own cryptocurrency, they would have to abide by both American and international banking regulations.

“We only have one real currency in the USA, and it is stronger than ever,” he tweeted.

“It is called the United States Dollar!”

A high-level G7 working group is expected to produce a preliminary report on asset-backed cryptocurrencies next week when the group’s finance ministers meet in France.

ALSO READ  I gave approval for NNPC loans not contracts – Osinbajo

“The more we, the international regulators, investigate this project, the more we have serious questions and potentially reservations,” said Francois Villeroy de Galhaut, head of the French central bank.

His American counterpart at the Federal Reserve also broached the topic Wednesday and Thursday when testifying before Congress.

“I think we need to do a very careful, patient, thorough assessment of what the risks really are,” Jerome Powell said Thursday, adding that the size of Facebook’s social media network points to Libra’s “systemic importance.”

Some American politicians have called for a total freeze on Facebook’s Libra project.

Facebook has pledged to deliver a stable virtual currency that lives on smartphones and could bring over a billion “unbanked” people — adults without bank accounts or those who use services outside the banking system such as payday loans to make ends meet — into the financial system.

The ubiquity of smartphones means digital wallets for Libra could expand the use of banking, credit card services and e-commerce in developing nations.

AFP

 

Continue Reading

Business

GTBank Named Best Bank in Africa at Euromoney Awards

Published

on

By

Foremost African financial institution Guaranty Trust Bank plc has been named the Best Bank in Africa 2019 by Euromoney at its annual Awards for Excellence, which held in London on Wednesday, July 10, 2019 at the London Hilton Hotel, Park Lane. GTBank was also named the Best Bank in Nigeria for a record ninth time, reflecting the Bank’s position as one of the best managed financial institutions in the country, with strong and focused leadership that keep the business in a constant state of re-invention and innovation.

Now in its 50th year, Euromoney is the leading publication for covering the growth of international finance. Euromoney’s Awards for Excellence are the awards that matter to the banks and bankers who matter. This year, Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries. The Magazine’s Awards for Excellence celebrates the best banks around the world by recognizing institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its award recipients, Euromoney combines quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers.

ALSO READ  Nigerian govt takes ownership of funds held in bank accounts not linked to BVNs

Key to the emergence of GTBank as the Best Bank in Africa and the Best Bank in Nigeria, is the Bank’s digital drive and its clarity of vision in reimagining the future of banks and banking. The Euromoney awards also recognized GTBank’s commitment to leading the future of banking as well as its consistent long-term strategy led by a senior management team that abhors complacency and keeps the business in a constant state of innovation.

Commenting on the Bank’s Euromoney awards, the Chief Executive Officer of GTBank, Segun Agbaje, said; “We are delighted and proud to win the Euromoney Awards for Africa’s Best Bank and Nigeria’s Best Bank. These awards reflect the progress we are making in delivering the best banking experience that captures what customers want in the world of today and tomorrow. They are also a testament to our leading role in driving world class corporate governance standards, excellent service quality and innovation in Africa’s banking industry.”

He further stated that; “At GTBank, we are passionate about building the bank of the future by leveraging the best of technology to add real value to our customers’ lives, and these awards illustrate the hard work and commitment of our staff, management and board towards achieving this goal.”

ALSO READ  Aiteo Founder, Benedict Peters Wins Forbes Oil & Gas Leader of the Year Award, 2018

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.

Continue Reading

Business

AfDB to meet Nigerian businesses leaders next week ahead of African Investment Forum

Published

on

By

The African Development Bank Group (AfDB) and the Africa Finance Corporation, will meet industry and business leaders in Abuja, Nigeria on Monday, 09 July 2019 as part of a roadshow to woo investors ahead of its second Africa Investment Forum (AIF) in November.

AIF − the continent’s biggest investment marketplace for accelerated economic transformation – is slated for 11-13 November 2019 in Johannesburg, South Africa. It is dedicated to advancing projects throughout Africa to bankable stages, raising capital, and accelerating the financial closure of deals.

The Abuja roadshow targets chief executive officers, captains of industry, State governments and other key players that will re-affirm Nigeria’s investment-ready status. The event will build on the quantity and quality of deals brokered in 2018, as well as explore investment opportunities across the continent.

By convening Nigeria’s premium project sponsors, borrowers, lenders and investors, the roadshow will showcase bankable projects, attract financing, and provide platforms for investing across multiple countries.

ALSO READ  Aiteo Founder, Benedict Peters Wins Forbes Oil & Gas Leader of the Year Award, 2018
Continue Reading

Trending