Business
Shareholders Praise Sterling HoldCo Performance And Leadership
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Shareholders of Sterling Financial Holdings Company Plc have commended the board and management of the company for its performance in its operations and earnings, and the diversification of the group’s business lines since completing the transition to a holding company structure.
This commendation was shared at the recently held statutory meeting in Lagos.
The hybrid statutory meeting, which was held with online and physical attendance, saw the unanimous passing of the singular motion of the day; the adoption of the statutory report for the meeting, presented by the shareholders of the holding company.
Addressing the shareholders of the company, Chairman of the board, Yemi Adeola, thanked the company’s shareholders for their support during the journey to the successful transition to a financial holding company, highlighting the launch of The Alternative Bank; Sterling HoldCo’s ethical banking subsidiary, in increasing shareholder value.
Also in attendance at the meeting, Group CEO of Sterling Financial Holdings Company, Yemi Odubiyi, addressed the opportunities the transformation presents with the potential diversification into other business lines along with the commercial and ethical banking licenses operated by the company.
During the meeting, Dr.Faruk Umar President of Association for the Advancement of the Rights of Shareholders (AARNS), commended the company for its transition into a Holdco structure. He added that the change would enable Sterling to diversify its operations into other sectors of the Nigerian economy.
Dr. Umar praised the group for the successful launch of The Alternative Bank (TAB) in Lagos, Abuja, and Kano, highlighting the potential profitability of the initiative as well as an appreciation of the board and management of the group for the appointment of Yemi Adeola as board chairman. He also noted Mr. Adeola’s significant contributions to the growth and development of Sterling Bank during his tenure as CEO, expressing confidence in the group’s continued growth trajectory under his leadership.
Dr. Umar also commended the Company Secretary, Mrs. Temitayo Adegoke, and the Chairman of the Statutory Audit Committee, Alhaji Mustapha Jinadu, for effectively communicating with shareholders about developments in the group during the transition from inception till completion.
Dr. Umar concluded by expressing the shareholders’ contentment with the board’s composition, and expressed hope that they would receive support in advancing the institution, pointing out that the transition has already yielded positive results with a rise in the HoldCo’s share prices on the floor of the Nigerian Exchange Limited (NGX).
Other shareholders who spoke at the meeting echoed Dr. Faruk’s remarks, with Mr. Matthew Akinlade stressing the importance of enhancing risk management practices, particularly with the emergence of more subsidiaries in the group; Mrs. Bisi Bakare Oluwayemisi spoke on the need for building resilience and diversifying earnings within the group, underscoring the robust nature of the Holdco structure; while Mr. Adeleke Adebayo encouraged the group to leverage the entire financial landscape to become a comprehensive financial services provider.
With the adoption of the Holdco structure now in full effect, Sterling now possesses the latitude to make inroads into other sectors within financial services, such as pensions, asset management, payment services, real estate, and different verticals, along with the current banking licenses held by the commercial and ethical banking subsidiaries; Sterling Bank and The Alternative Bank, which will operate as limited liability companies within the publicly traded holding company.
A holding company, or Holdco, is a company set up to make and manage, for its account, equity investments in two or more companies, which are its subsidiaries, engaged in the provision of financial services, one of which must be a bank.
Business
Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape
“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million.
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
This will fund African government initiatives with a proven potential to transform national economic performance.
Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.
The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.
The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.
Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC and Co-founder, Aig-Imoukhuede Foundation and Ofovwe Aig-Imoukhuede, Co-founder, Aig-Imoukhuede Foundation, on the sidelines of the Africa CEO Forum 2024 in Kigali…Thursday.
“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.
The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations.
The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.
The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.
Notes to Editor:
For media inquiries, please contact:
communication@aigafrica.org or +234 808 5716 788
mediarelations@accessbankplc.com or +234 803 320 4315
ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.
For more information, please visit www.aigimoukhuedefoundation.org.
Business
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.
Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.
Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.
Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.
Business
ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.
These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.
Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.
The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.
Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.
“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”
Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.
-
News5 years agoBreaking: ‘Penalty’ Crooner Small Doctor Caught in Possession of Fire Arms
-
News5 years agoTiffany Trump Is Dating a Millionaire Michael Boulos From Nigeria
-
News5 years agoPDP Set To Cause Panic Days To Polls: FG
-
News5 years agoINEC Engages EFCC, FIU In Tracking Campaign Funding
-
News2 years ago
INEC Publish Final List of Candidates For 2022 Osun Governorship Poll
-
Politics5 years agoPDP Alleges Plot by APC, Presidency to Detain Its Leaders
-
Politics5 years agoOsinbajo Has Betrayed Yorubas, Says Afenifere
-
Politics5 years agoLagos Commissioner Decamps To PDP