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Skye Bank Unveils New Executive Management

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The CBN has approved the reconstitution of the Board of Skye Bank PLC. By the reconstitution, Alhaji M.K Ahmad has been appointed as the new Chairman of the Board, while Mr. Tokunbo Abiru has been appointed as the new Group Managing Director and CEO. Messrs. Other members of the reconstituted Board are Bayo Sanni, Idris Yakubu, Markie Idowu and Abimbola Izu, all of whom were serving in the capacity of Executive Director of the Bank prior to now.

The reconstitution of the Board followed the voluntary resignation of the former Chairman, Dr. Tunde Ayeni and other Non – Executive Directors of the Bank, namely, Mr. Victor Odozi, Mr. BabajideAgbabiaka, Dr. Jason Fadeyi, Mr. KunleAluko, Mr. Victor Adenigbagbe, Mr. Abdul Bello and HajiyaAmunnaLawan Ali. In the same vein, Mr. Timothy Oguntayo had resigned his position as Group Managing Director / CEO, alongside Mrs. AmakaOnwughalu, Mr. DotunAdeniyi and Mrs. Ibiye Ekong who resigned their positions as DMD, and Executive Directors. All the resignations take immediate effect.

The former leadership of the Bank voluntarily resigned their positions in order to pave the way for a new team to further the new strategic direction of the Bank in the retail and commercial business space, having laid the foundations and set the necessary processes and structures. In this wise, the challenge of accelerating growth in the new strategic direction becomes more urgent and compelling, given the economic challenges in the global and domestic operating environment, and the attendant challenges.

The Bank thanked the former Board led by Dr. Tunde Ayeni, and the former Management team led by Mr. Timothy Oguntayo for their service, sacrifice and dedication to the institution.

The new Chairman of the Bank, Alhaji M.K. Ahmad in a statement earlier today, expressed optimism about the Bank, given its vast potentials and its strategic position in the economy. He stated that the Bank is well positioned to deepen the retail and commercial banking services in the economy, having put in place the critical building blocks to win in this sector. He stated that the immediate priorities of the Board and the new Management team is to quickly begin to leverage the huge investment in the enhanced branch network, technology and alternative channels to improve stakeholder value in a sustainable manner. He assured the shareholders, customers and depositors of the Bank of his commitment to preserve their investments and deposits, while further assuring that the support and backing of the CBN and other relevant stakeholders have been obtained in this respect.

Alhaji Muhammad K. Ahmad, OON, has about 35 years distinguished experience leading and working in various public sector organizations and financial services institutions in Nigeria. He was the pioneer Director General and Chief Executive Officer of the National Pension Commission and also a pioneer staff of the Nigeria Deposit Insurance Corporation and rose to become Director / Head of Department and member of the Interim Management Board. Mr. Ahmad has served on the boards of various corporate and not-for-profit organisations as well as presidential committees. He chaired the Technical Committee that produced the North East Transformation Strategy (NESTS), a medium term Regional Development Strategy, for the sustainable socio-economic transformation and reconstruction of the Region and currently supervises its implementation. Ahmad is also a member of the Presidential Committee for the North East Intervention (PCNI). Prior to his appointment, he was a Director on the Board of FBN Holdings PLC, where he brought his rich experience in the financial services industry to bear on the institution. He strongly promotes building institutions based on the highest corporate governance and ethical standards and would bring his extensive experience to bear on his role on the board of Skye Bank PLC as Chairman.

Ahmad has a Masters Diploma in Innovation and Strategy from University of Oxford and has also attended courses and programmes in various first-rate business and management schools, including Harvard Business School, IMD and INSEAD. A co-author of the book, “The Extent and Effectiveness of Bank Supervision in Nigeria”, Ahmad is married with children.

The new MD/CEO Mr AdetokunboMukhailAbiru, is an alumnus of Harvard Business School (Advanced Management Program) and Lagos Business School (Executive Management Program). He holds a B.Sc (Economics) from Lagos State University and is a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN) and an Honorary Executive Member of The Chartered Institute of Bankers of Nigeria (CIBN).

Tokunbo has had a distinguished career in banking spanning about 26 years, of which his early ten (10) years were spent in the formative years of Guaranty Trust Bank Plc. Thereafter, he spent about Fourteen (14) years with the premier and most valuable banking brand in Nigeria, First Bank of Nigeria Limited, where he functioned as Executive Director, Corporate Banking between 2013 and 2016.

Equally during his banking career, he was at various times between 2013-16 a Non – Executive Director in the following companies: Airtel Mobile Networks Limited; FBN Capital Limited (now FBN Merchant Bank Limited); and FBN Bank Sierra Leone Limited.

Tokunbo was the Honorable Commissioner of Finance for Lagos State Government (2011-2013), the economic capital of Nigeria, during the dynamic and transformational leadership of Governor Babatunde R. Fashola (SAN).

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Ajimobi’s Eldest Child, Bisola Dies In The UK

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Late Governor Ajimobi’s first child, Bisola is dead!

 

News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.

 

The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.

 

Married to Kolapo Kola-Daisi, their marriage is blessed with three children.

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EFCC Arrests Top Businesswoman, Aisha Achimugu

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The Economic and Financial Crimes Commission (EFCC) recently arrested prominent businesswoman and socialite, Aisha Achimugu, following allegations of fraudulent activities related to a multi-million-naira contract awarded to her company by a South-West state.

Achimugu, who serves as the Chairman of Bluewave Exploration and Production Limited, was detained last weekend after a civil society group filed a petition accusing her of involvement in dubious dealings concerning the contract. She was granted bail the following day but has been instructed to return for further questioning in the coming week.

Beyond her corporate endeavors, Achimugu is well-known in elite circles across Lagos and Abuja. Her social media presence showcases a lavish lifestyle, featuring exotic vacations, exclusive yacht parties, and private jet travels.

This arrest marks a significant challenge for Achimugu, whose business empire and social standing are now under intense public scrutiny. The EFCC’s investigation is ongoing, and the outcome may have far-reaching implications for her career and reputation.

A source hinted that Achimugu was asked by the commission to report back on the 30th of March,2025 for further questioning.

Not really bothered by the investigation, the billionaire days after her arrest launched a 30-day feeding Ramadan programme where she targets the less-privileged.

 

Additional Information- Streetjournal Magazine

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Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

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The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.

New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.

Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.

As lawmakers dispersed after the session, the big question lingered where was  Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.

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