Business

Tinubu Approves New 13-man Board for Bank of Industry

Published

2 years ago

September 3, 2024

517 Views

President Bola Tinubu has approved the appointment of a new 13-member board for the Bank of Industry (BoI) with Dr. Mansur Muhtar and Dr Olasupo Olusi as Chairman and Managing Director/Chief Executive Officer respectively.

In a release issued on Monday by presidential spokesperson, Ajuri Ngelale, 11 directors, including five executive and six non-executive ones were also appointed for the BoI by the president.

The Executive Directors include Mrs. Ifeoma Uz’Okpala, Large Enterprises; Mr. Shekarau Omar, Micro, Small & Medium Enterprises; Mr. Usen Effiong, Corporate Services; Ms. Mabel Ndagi, Public Sector & Intervention Programmes and Mr. Rotimi Akinde, Corporate Finance & Risk Management. According to the statement, the non- executive directors are Mallam Tajudeen Datti Ahmed, representing the Ministry of Finance Incorporated;

Mr. Adedamola Olufemi Young, representing Central Bank of Nigeria; Rev. Isaac Adefemi Agoye, representing Manufacturers Association of Nigeria; Mallam Muhammad Bala, representing Federal Ministry of Industry, Trade & Investment; Mr. Oreoluwa Adeyemi and Mr. Sulaiman Musa Kadira, Independent Non-Executive Directors. Muhtar, whose career spans decades in finance, international development, public service, and academia, had served as Minister of Finance, Budget and Economic Development from 2008 to 2010 and was Vice-President, Operations of the Islamic Development Bank, before his recent appointment.

The president expects the new board of the BoI to work harmoniously, diligently, and with utmost fidelity to the nation in driving the mandate of this critical institution as a development vehicle for providing support for projects that enhance job creation, poverty alleviation, and the socio-economic conditions of Nigerian families.

Related Topics:Bank of Industry Featured Tinubu

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Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

51 minutes ago

June 30, 2026

Charles Flames

11 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

5 hours ago

June 30, 2026

OCHEFA

17 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”