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Former NDDC Boss, Timi Alaibe Soar High @ 60

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Ndutimi Alaibe’s name resonates with excellence, intelligence and grand opulence. He began to shine like a star when Nigeria returned to democracy in 1999 when the then President Olusegun Obasanjo created the Niger Delta Development Commission NDDC to impact the lives of people within the Oil Minerals Producing Areas Development Commission (OMPADEC).

 

Along with other bigwigs, Timi, a seasoned accountant with Peat Marwick Ogunde and Ani, now “KPMG,” was inaugurated as executive director, finance and administration of the 19man board that will oversee the affairs of the board that will take care of the oil-producing states, to boost multi-sectoral development in the oil-bearing states. He served the commission with his whole heart. He was amiable and accessible. He ensured that the hope and aspiration of President Obasanjo were carried out with rapt development within the axis. He also grew his resume politically.

With his dedication and service to the work, being familiar with the region spread across 5000 communities, covering 185 local government areas and collectively straddling nine states in the region, in three geopolitical zones, the south-west, south-south and south-east, Alaibe was appointed managing director in 2007 till 2009. President Yar’Adua in 2009 in a bid to demobilisation, rehabilitation and reintegration of ex-militants through the Amnesty Programme, appointed Alaibe Adviser on Niger Delta Affairs and coordinator. He started testing his popularity in 2003, contesting the gubernatorial primary against Diepreye Alamieyeseigha. In 2007 and 2011, He also threw his hat in the ring for the same office. In 2019, he contested against the incumbent governor of Bayelsa State, Duoye Diri, in a very controversial primary election which declared Diri the winner. Governor Diri and Alaibe later formed an alliance to work for the progress of the state.

The Accounting graduate from the Rivers State University of Science and Technology, (RSUST) celebrated his 60th birthday with a massive soiree last week on the 10th of June as top guests and billionaire businessmen and women converged to celebrate with the birthday boy in the company of his children and grandchildren. Decked in their colourful attire, the Alaibe family danced into the hall as Beejay Sax thrilled them with melodious tunes. Former President Olusegun Obasanjo presented Alaibe with a book written for him by 29 of his friends. Kizz Daniel also made a surprise performance at the soiree as he feted those who attended to very sumptuous meals and assorted drinks. Those spotted at the event were; Atedo Peterside, Allen Onyema, Musa Danjuma, Ifiesimama Sekibo, Tundun Abiola, Austyn Ogannah, Nina Adimora, Sholaye Jeremi, Scott Tommy, Bola Awosika, Terry Waya, Olumide Akpata, Julie Pinnick, Chief James Ibori, Donald Duke, Fidelis Anosike, Rita Dominic-Anosike, Senator Florence Ita-Giwa, Tony Elumelu, Nkiru Anumudu and a host of others.

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Appeal Court Exonerate Zenith Bank, Upturns High Court Judgement Slam Fine on Real Integrated & Hospitality Limited

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After several months of legal tussle between Zenith Bank Plc v Real Integrated & Hospitality Limited and State Universal Basic Education Board (SUBEB) Gombe State, a three-man panel in the Court of Appeal sitting in Lagos led by Justice Muhammed Sirajo in Appeal No:CA/LAG/CV/262/2022 – have unanimously upturned the Lagos State High Court judgment of Justice O. O. Abike-Fadipe over claims that; on March 8, 2022, there was a breach of contract because on October 7, 2011, Zenith Bank refused Real Integrated to withdraw from its Account No. 1012465427.

 

In her judgment, she directed Zenith bank to pay an interest of 15 per cent per annum on the N872,780,522.84 from May 17, 2011, when the advanced payment guarantees expired till judgment and thereafter at the rate of 10 per cent per annum until final liquidation

 

Through Zenith Bank’s team of counsel led by Prof. Fabian Ajogwu, SAN and Mr Sylva Ogwemoh, SAN, the bank challenged Justice O. O. Abike-Fadipe’s decision of awarding N2,500,000 as the cost of the action in favour of Real Integrated. The legal team via valid argument backed by proofs argued and sought an order setting aside the lower court decision on the ground that it acted in full compliance with its contractual obligations in line with the Advanced Payment Guarantee (APG) contract and that the trial court was wrong. The Court of Appeal, in a unanimous decision on November 23, agreed with the bank’s submission and resolved all the issues raised in its favour. It was gathered that; the 1st Respondent, through its Counsel, E.O Jakpa, argued that the bank breached the contract while SUBEB Gombe State did not contest the Appeal.

Apart from the appellate court setting aside the judgment of Justice Abike-Fadipe, the judge also awarded a cost of N200,000 against Real Integrated & Hospitality Limited and in favour of Zenith Bank. The appeal court further stated that the lower court judgment was upturned on the ground that the trial court was wrong to have presumed that the bank withheld the full account statement of Real Integrated in the light of Exhibit C6 (the comprehensive Statement of Account of Real Integrated), which was tendered by the bank for a limited purpose, adding that there was no need for the lower court to have invoked Section 167 (d) of the Evidence Act, 2011 against the bank.

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CapitalMetriQ Swift Bank Boss, Ambassador Sowemimo Abiodun’s Meteoric Rise

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Unlike the proverbial rattlesnake that crawls through the rocky path without its presence recorded, Ambassador Sowemimo Abiodun has crested his indelible footprints as a highly cerebral computer programmer, financial technologist, diplomat, internet entrepreneur, domain broker, computer media applications and online reputation management expert with an estimated net worth running into millions of Dollars. The billionaire business mogul does not give in to mediocrity.

Those close to the Head honcho of iNet Telecommunications, CapitalMetriQ Swift Bank and InfoMetriQ Data Network disclosed that he is a man destined for greatness because of his ferocious approach to work and his doggedness. While many of his peers were busy investing in frivolities, the Rome Business School Alumni was busy building a business empire that would outlive him.

Today, in the list of youths putting Nigeria on the world map globally, Sowemimo has distinguished himself with his uncommon and outstanding demeanour with numerous laurels and awards to show for it both locally and internationally. For his contribution to the African continent, he was awarded by the Egyptian President Abdel Fatth El-Sisi at the World Youth Forum as the most promising youth in Africa.

On September 25, 2019, at the 74th UN General Assembly, the Permanent Mission of Nigeria to the United Nations, in collaboration with the World Award Foundation and Silicon Valley Nigeria Economic Development (SV-NED), he was also awarded the 2019 SDGs #9 honours in industry, innovations & infrastructure alongside Alicia Keys. Meanwhile, on January 26, 2019, he was conferred with an honorary Doctorate Degree (Honoris Causa) in Information Technology Management, from the Prestigious ICON University of Management Science & Technology.

 

The President & Chairperson of the African Chamber of Innovation Internet Governance & Digital Inclusion has indeed hit a milestone as all his silent prayers to his creator are being answered with the resounding success recorded by his CapitalMetriQ Swift Bank as it has changed stereotypes woven around modern technology banking as it put customers in the Centre of every transaction. Sources say the Bank is now popular for its swift service delivery and its usage of technology as a tool to drive access to mobile banking and access to soft loans. “Sowemimo is a big player in the industry who understands the use of technology in ensuring the bank provides innovative financial solutions to improve quality of life by empowering the economically underprivileged people to become self-reliant and also gain the needed skill to loom large in the financial market.” A source disclosed

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Parthian Partners wins Inter Dealer Broker of the year, lauded for pioneering IDB model in Nigeria

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Parthian Partners Limited, Nigeria’s first interdealer broker and founder of i-invest, the first fixed income investment app in Nigeria, has won the BusinessDay Banks and Financial Institutions (BAFI) Awards for the ‘Interdealer Broker of the Year 2022’ in recognition of its impact and contribution to the overall growth and stability of the fixed income market, its financial performance – credit rating affirmed Bbb+, as well as its innovativeness and growth across different product lines.

 

According to the organisers of BAFI, the Inter-Dealer Broker of the Year Award was initiated this year in recognition of the critical role this little-publicized corner of the fixed income market’s microstructure plays in ensuring its efficiency. “We congratulate Parthian Partners on the celebration of its tenth anniversary. Reading reports of how the journey of building the first interdealer broker in Nigeria, at a time when the regulations did not even exist, attests to the foresight and determination of the founding team and its backers. This is the type of grit to follow the path less travelled that we celebrate at the BAFI Awards,” they explained.

Representatives of Parthian Partners Limited: (L-R) Gafar Bashiru, Senior Associate; Yinka Arewa, CFO; Ronke Akinyemi, Assistant VP; Nonso Nduanya, Head of Brands, Marketing & Communications and Oluwaseun Dosumu, Head of Investment Research, receiving inter-dealer broker of the year award from Ogho Okiti (2nd r), MD, BusinessDav Media Limited.

Commenting on the award, the Group Managing Director of Parthian Partners, Mr. Oluseye Olusoga thanked the staff of the company for their commitment to the actualisation of the company’s vision, while dedicating the award to the firm’s clients. “Since we pioneered the wholesale fixed income financial intermediary model in Nigeria 10 years ago, Parthian Partners has remained steadfast in its commitment to matching buyers and sellers, providing independent data to participants in the fixed income market, enabling confidence in transactions, creating liquidity and price discovery, as well as facilitating the unfettered flow of capital for an efficient market,” he said. He stated that the company will not rest on its laurels but will continue to provide the best services while increasing shareholder value and returns on investment.

 

Now in its 10th year, the BAFI Awards were created to recognise and celebrate organisations, teams and individuals that are achieving excellence in the delivery of financial services across the entire client and customer spectrum.

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