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New UBA, Zenith, Skye Bank MDs Assume Duty

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Three bank managing directors – Jim Ovia (Zenith), Tony Elumelu (United Bank for Africa, UBA), and Akinsola Akinfemiwa (Skye) have taken their bow and left the stage in line with the directive of the Central Bank of Nigeria (CBN) that no bank MD should serve more than 10 years.
Their successors Godwin Emefiele (Zenith), Phillip Oduoza (UBA), and Kehinde Durosinmi-Etti (Skye), have assumed duty.
The three incoming managing directors, already ratified by their boards and the CBN, were before now deputy managing directors of their respective banks.
With banking experience spanning 23 years, Emefiele, a pioneer in Zenith Bank’s management, was appointed deputy managing director in 2001, and lately supervised all the local subsidiaries, treasury and correspondent banking, and multilateral, conglomerates, and private banking.
Oduoza, a graduate of civil engineering, holds an MBA (finance) from the University of Lagos (UNILAG), and is an alumnus of the Advanced Management Programme of the Harvard Business School, among other world class trainings.
Durosinmi Etti, a chartered accountant and fellow of the Chartered Association of Certified Accountants (FCCA), United Kingdom, is not new to the position of bank MD or Chief Executive Officer (CEO).
He was first appointed to the position in July 2002 when he managed EIB International Bank until it fused with others during consolidation to form Skye Bank in January 2006.
Durosinmi-Etti graduated in economics from the University of Ibadan (UI) in 1982, and thereafter started his working career as an audit trainee at Pricewaterhouse, from where he moved to Akintola Delloite. He forayed into banking in 1987 when he joined Nigeria-American Merchant Bank as Head, Accounts/Computer and later, Internal Control.
He left for Midas Merchant Bank in 1990 where he served at various times as Head of Treasury, Assistant General Manager in charge of Money Market Division, before becoming Executive Director and Chief Executive Officer in 1995 at 32.
He joined Lagos Building Investment Company in 2001 as MD, and left for EIB International Bank as General Manager in April 2002, becoming MD/CEO after barely four months.
Durosinmi-Etti was in charge of Skye Bank’s Corporate Banking Group, Investment Banking Group, Treasury Group and Development Finance Group.
Meanwhile, UBA at the weekend gathered the who-is-who in corporate Nigeria – as well as politicians, including former President Olusegun Obasanjo, Ministers, Governors and their Deputies, Commissioners, federal lawmakers and the diplomatic class – for a send-off party at Eko Hotel and Suites, Victoria Island, Lagos.
Others present included former CBN Governor, Joseph Sanusi; former CBN Deputy Governors; Central Bank Governors from neighbouring countries; Securities and Exchange Commission (SEC) Chairman, Udoma Udo Udoma, and SEC Director General, Arunma Oteh.
President Goodluck Jonathan, in a goodwill message read by Remi Babalola, minister of State for Finance said Elumelu, “represents what Nigeria can be, should be, and will be.”
Ferdinand Alabraba, chairman, UBA  noted that the exit of Elumelu marks “the end of a glorious era in the history of UBA,” hence the occasion was tagged “A celebration of excellence.”
He assured that 13 years after piloting the affairs of Standard Trust Bank (STB) that became the fifth largest player in the industry, despite being a vestige of the failed Chrystal Bank of Africa, which later merged with UBA, Elumelu will remain relevant in the financial system.
A landmark for which Elumelu will be remembered, he added, was that STB under his leadership was the first Nigerian bank to open an offshore subsidiary, adding that UBA now has presence in 18 countries across Africa, as well as in Europe and the Unites States.
Alabraba said. while assuring that Oduoza, who has 22 years banking experience, will continue the strategic intent of the group.
Oduoza affirmed his commitment to continue with the vision, adding that most members of the team left behind have been part of the dream for a very long time.
He said he will play his part “in achieving those goals with determination, responsibility and hard work.”

 


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EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

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Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over "419"

Halimat Adenike Tejuosho,

A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.

The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.

The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.

The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.

Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.

According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.

 


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Afreximbank to Fund 3 New Refineries in Nigeria

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African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

 Afreximbank to Fund 3 New Refineries in Nigeria

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.

“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.

The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.

Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.

According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.

He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”

The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.

Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.

Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.

He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.

“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.

Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.

The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.

 


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MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

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The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.

Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.

Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”

A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.

Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”

Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.

As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.


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