Jobs/Appointments
FCMB’s Ladi Balogun Becomes Legacy Pensions Chairman
By Modupe Gbadeyanka
Group Chief Executive Officer of FCBM Group, Mr Ladi Balogun, has been appointed Chairman of Legacy Pension Managers (Legacy Pensions) Ltd.
His appointment followed completion of the acquisition of 88 percent stake of Legacy Pension by FCMB.
Mr Balogun was until March last year the Chief Executive Officer of First City Monument Bank (the retail and commercial banking subsidiary of FCMB Group).
He has over 23 years’ experience in the financial services industries in Europe, the United States of America and Africa.
Mr Balogun also holds a Bachelor’s degree in Economics from the University of East Anglia, United Kingdom and a Masters in Business Administration (MBA) from Harvard Business School, United States of America.
His appointment in 2007 as the Managing Director of FCMB Limited saw the transformation of the firm from an investment bank to a prominent mid-tier Nigerian commercial bank and financial services group.
By 2017, the banking group had 10,000 employees and contract workers, 4.3 million customers, 200 branches and a banking subsidiary in the United Kingdom.
During this period, FCMB also birthed what became the country’s leading micro-lending institution, Credit Direct Limited.
Mr Balogun serves on the board of several FCMB Group companies and chairs the board of Credit Direct Limited. He also serves as Chairman of Tenet Investment Company, a private equity investment firm, focused on the food and agri-business value chain in West Africa.
Also appointed by Legacy Pensions was Mr James Ilori to the board. He has vast experience in Research, Business Development, Risk Management, and all areas of the investment decision-making process acquired from leading organisations in Nigeria and the United Kingdom.
Before his appointment as the Chief Executive Officer of First City Asset Management (FCAM) in 2014, he worked as a fixed income fund manager with Crown Agents Investment Management in the United Kingdom.
Mr Ilori, who is a CFA Charter holder, has successfully propelled FCAM to become a top-rated wealth management company. It provides services that cut-across collective investment schemes such as mutual funds and investment plans predominantly for retail investors, as well as specialised discretionary portfolio management, for high net-worth individuals and institutional investors, within and outside Nigeria.
Mr Ilori will also serve on Legacy’s investment committee as the pension fund manager seeks to continue its strong investment performance track record, whilst diversifying its portfolio.
A statement by Legacy Pensions said the board appointments have received the approval of the National Pension Commission.
Legacy Pensions has over N230 billion assets under management, which grew by 22 percent in 2017. It has over 350,000 pension contributors, whom it serves from 48 locations across the country.
The appointments signal Legacy Pension’s intent of tapping into the investment and distribution synergies that FCMB Group brings to Legacy Pensions.
The company hopes to leverage on the network and pedigree of FCMB Group Plc and its subsidiaries, which include First City Monument Bank Limited, FCMB Capital Markets, CSL Stockbrokers Limited, CSL Trustees Limited, First City Asset Management Limited, FCMB Microfinance Limited and now, Legacy Pension Managers Limited.
The acquisition, according to Legacy Pensions, received the approval of the Central Bank of Nigeria (CBN), the National Pension Commission, and the Securities and Exchange Commission (SEC) in November 2017.
Jobs/Appointments
CSP Anietie Iniedu Replaces DCP Anthony Placid as Police Spokesman
By Aduragbemi Omiyale
The Nigeria Police Force (NPF) has a new spokesman: Mr Anietie Okokon Edem Iniedu, a Chief Superintendent of Police (CSP).
He is to replace Mr Anthony Okon Placid, a Deputy Commissioner of Police (DCP).
The change of guard was approved by the Inspector General of Police (IGP), Mr Tunji Disu.
In a statement on Friday, it was disclosed that the new Force Public Relations Officer of the police has extensive experience in public communication, operational policing, intelligence management, institutional accountability, and administration.
The IGP expressed confidence in his capacity to lead the Force Public Relations Department, noting that his experience and professional background will further enhance the agency’s strategic communication efforts and strengthen public engagement in support of ongoing policing reforms and operational successes.
A native of Etinan Local Government Area of Akwa Ibom State, he holds a Bachelor of Science (B.Sc.) degree in Pure Chemistry from the University of Uyo and has undergone several professional trainings in investigative interviewing, crime scene management, human rights-based policing, strategic communication, and intelligence analysis.
Prior to his appointment, he served as Head of the Complaint Response Unit (CRU), Force Headquarters, Abuja, where he coordinated public complaint management and championed initiatives aimed at strengthening transparency, accountability, and public trust in the Nigeria Police Force. He also previously served as Public Relations Officer of the Police College of Information Technology, Kobape, Ogun State, among several operational and administrative appointments across the country.
CSP Iniedu has held key positions including Operations Officer, Maisandari Division, Yobe State Command; Area Crime Officer, Umuahia Area Command, Abia State; Staff Officer, IGP Secretariat, Force Headquarters; Second-in-Command, 50 Police Mobile Force Squadron, Kubwa; and Officer-in-Charge of the Force Headquarters Situation Room, where he supervised the coordination and dissemination of crime and security information nationwide.
He can be reached via 08128526154, and X (Formerly Twitter): @cspiniedu.
Jobs/Appointments
Tinubu Extends Customs CG Adeniyi Tenure by Six Months
By Modupe Gbadeyanka
The tenure of the Comptroller General of the Nigeria Customs Service, Mr Adewale Adeniyi, has been extended by six months.
This is the second time the tenure of Mr Adeniyi is being extended by President Bola Tinubu.
A statement on Friday night by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the customs chief is getting extra time in office to enable him to consolidate the implementation of the National Single Window and ensure an orderly succession in the service.
The tenure of the first extension is expected to end on August 1, 2026, but with the fresh tenure elongation, Mr Adeniyi is scheduled to bow out of service in February 2027.
“During the transition period, Adeniyi, working with the Nigeria Customs Service (NCS) Board, will ensure the promotion of eligible officers to the rank of Comptroller of Customs and the compulsory retirement of officers who have attained 60 years of age or have served 35 years,” a part of the statement said.
Mr Adeniyi joined customs after graduating from Obafemi Awolowo University (OAU), Ile-Ife, Osun State, in the late 80s.
He rose through the ranks, becoming deputy comptroller in 2012, comptroller in 2017, assistant comptroller general in 2020, acting deputy comptroller-general in January 2023, before his appointment by President Tinubu in June 2023 as the Comptroller General.
Jobs/Appointments
Tinubu Appoints ex-KGMP CEO Kunle Elebute as FRCN Head
By Adedapo Adesanya
President Bola Tinubu has appointed a former chief executive of KPMG Nigeria, Mr Kunle Elebute, as chairperson of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).
The appointment was disclosed in a statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Thursday.
According to the statement, the appointment reinforces the federal government’s commitment to strengthening corporate governance, enhancing investor confidence, and deepening transparency and accountability within Nigeria’s financial reporting ecosystem.
The profile of the new FRC chair indicates that Mr Elebute is a distinguished Chartered Accountant and financial management consultant with over four decades of professional experience spanning Nigeria, West Africa, and global markets.
He previously served as Senior Partner of KPMG Nigeria, Chairman of KPMG West Africa, and Chairman of KPMG Africa. During his illustrious career, he also served on KPMG’s regional and global boards, including its Global Board Audit Committee.
Mr Elebute is widely respected for his expertise in audit, financial advisory, risk consulting, corporate governance, and strategic transformation.
“Mr Elebute’s appointment comes at a pivotal time as the FRCN advances key institutional priorities, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and broader efforts to align Nigeria’s corporate reporting framework with international best practices.
“The Federal Government is confident that his wealth of experience, leadership, and governance expertise will further strengthen the Council’s mandate and support the Renewed Hope Agenda’s objective of building a more transparent, competitive, and investment-friendly economy,” the statement added.
FRCN has the mandate of setting and enforcing financial reporting, auditing, actuarial, valuation, and corporate governance standards in Nigeria.
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