FrieslandCampina WAMCO has appointed former Guinness Nigeria Commercial Director, Olusanya Adesanya, as its new Group Director of Sales, marking a significant talent shift in Nigeria’s fast-moving consumer goods sector.

Adesanya announced the move on his LinkedIn page, stating, “I’m happy to share that I’m starting a new position as Director of Group Sales at FrieslandCampina.”

Adesanya, regarded as one of the country’s foremost commercial strategists, has been instrumental in Guinness Nigeria’s resurgence.

His exit was confirmed in a statement signed by the company’s Managing Director and Chief Executive Officer, Girish Sharma, who hailed his “twelve remarkable years of positive impact and growth.”

According to Guinness Nigeria, Adesanya joined the company in 2013 as a sales representative and rose through the ranks across the South-East, Lagos and South-West regions, ultimately becoming commercial director in 2023.

Over the years, he led retail expansion initiatives, including the launch of Project REAP, which transformed retail execution and broadened the company’s distribution footprint.

Under his leadership, Guinness recorded double-digit topline growth, improved margins, enhanced trade spend efficiency and strengthened distributor profitability.

His performance earned him several awards, including the African President Awards (2021) and MAD Awards (2014 and 2015).

The Senate has approved the sum of N54.46trillion as the federal government’s aggregate expenditure for the 2026 fiscal year.

This followed the passage of the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) during plenary yesterday.

The Senate also approved the sum of US$64.85 per barrel as the oil benchmark, projected aggregate revenue of N34.33 trillion, Fiscal Deficit of N20.13 trillion, borrowings of N17.88 trillion, Debt Service of N15.52 trillion, and Pensions, gratuities, and retirees’ benefits of N1.376 trillion.

The approval of the fiscal document followed the presentation and consideration of the report of the Senate Committees on Finance during plenary.

The report was presented by the Chairman of the Committee, Senator Mohammed Sani Musa (APC – Niger East).

The Central Bank of Nigeria (CBN) has revoked the operating licences of two primary mortgage institutions, Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent regulatory violations and severe financial weaknesses.In a statement released on Tuesday by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank said the revocation was carried out under powers conferred by Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria.

The CBN stated that the affected institutions breached multiple provisions, including failure to meet the minimum paid-up share capital requirements for their licence categories, having insufficient assets to cover liabilities, critical undercapitalisation with capital adequacy ratios below prudential minima, and non-compliance with several regulatory directives.

“This action is part of ongoing efforts to reposition the mortgage sub-sector, promote a culture of compliance with relevant laws and regulations, and ensure the stability of Nigeria’s financial system,” the statement read.

The revocation comes amid long-standing challenges for both institutions, which were delisted from the Nigerian Exchange (NGX) in 2024 for failing to submit audited financial statements for over six years.

Reports have also highlighted customer complaints over trapped deposits and governance issues.

Following the licence revocation, the institutions are no longer authorised to operate as licensed financial entities.

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation process and begun payments of insured deposits up to ₦2 million per depositor.

The CBN reaffirmed its commitment to safeguarding depositors’ interests and maintaining financial system stability, adding that it will continue enforcing strict regulatory standards across the sector.

Depositors have been urged to await further guidance from the NDIC on claim settlements.