Business
Revealed: Banking Czar, Miriam Chidiebele Olusanya Likely Successor For GTB M.D Segun Agbaje
Published
1 year agoon

The name Miriam Chidiebele Olusanya might not ring so much bell but she is one of the top ladies calling the shot at Guarantee Trust Bank GTB. With her wealth of experience and expertise of over 20 years in financial related issues, financial risk management, transaction services, Treasury, Assets and Liability Management, Corporate Finance and Wholesale Banking, she has carved a niche for herself thereby steadily rising with an intimidating resume.
As an Executive Director and Head, Wholesale Banking Division of the financial powerhouse, with a deep-rooted proactive and pragmatic approach to 21st Century banking, She joined GTBank in 1998 and has been in charge of managing the bank’s Naira and Foreign Currency Balance Sheet, Asset and Liability Position and Money Market, Foreign Currency and Bonds Trading. She bagged a Bachelor of Pharmacy degree from the Premier University of Ibadan 1995 and a Master of Business Administration (Finance and Accounting) from the University of Liverpool in 2011.
Close sources divulged that; as Mr. Segun Agbaje, the Group Managing Director/Chief Executive Officer of Guaranty Trust Bank completes his tenure by the end of the year, the battle for who will succeed him as the head honcho of the bank is currently heating up. “From the list of those being considered as a possible successor of Mr. Segun; Miriam Chidiebele Olusanya is one of the most qualified in terms of exposure, qualifications, and experience.
“Influential Nigerians, shareholders, and stakeholders of the bank are being contacted and convinced to support Olusanya’s ambition. The basis of their argument is that; women are gradually holding key positions most especially with the emergence of the D.G World Trade Organization; Dr. Ngozi Okonjo Iweala and that of the MD of Fidelity Bank Nneka Onyeali-Ikpe.’’ A source told CITYSPY
The source further added that; “The only hurdle Olusanya might likely face is that of Ademola Odeyemi, who is a Non-Executive Director International Banking and Strategy. Odeyemi is also an experienced banker that joined GTBank from FCMB in 1997 and also a chartered accountant.”
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Business
RT $200bn: Polaris Bank sensitises non-oil exporters, urge them to key into programme
Published
15 hours agoon
June 23, 2022
One of the leading Commercial Bank in Nigeria, Polaris Bank in partnership with the Central Bank of Nigeria (CBN) has urged exporters in the non-oil sector to embrace RT USD 200billion programme in a bid to boost the nation’s economy. The financial institution made the appeal recently in Calabar during a one day Sensitisation programme for non-oil exporters on the need to key into the “Race to USD 200billion Foreign Exchange Programme”.
Vanguard learned that it was part of efforts by CBN to ensure Nigeria realizes her quest to earn the needed foreign exchange; diversify its economy and make locally-produced goods competitive, globally.
The above, according to the Bank, led it to commence a nationwide business forum to sensitize exporters on inherent benefits of Central Bank of Nigeria’s (CBN) RT200 non-oil export proceeds repatriation rebate scheme.
Vanguard gathered that the scheme was aimed at raising $200 billion in foreign exchange (FX) earnings from Non-Oil Proceeds over the next 3-5 years, is designed to motivate exporters in the Non-Oil export sector to encourage repatriation and sale of export proceeds into the FX market.
Speaking during the programme in Calabar, Mr. Michael Chimah, Group Head, Uyo/Calabar Business said it was high time Nigerians took production more serious, adding that with more production and export things will change for the better for Nigeria.
He disclosed that CBN’s guidelines for the scheme stipulates that for every US$1 repatriated and sold at the I& E Window to Authorised Dealer Banks (ADBs) for other third-party use, N65 will be paid to the exporter, while for every US$1 repatriated and sold into I & E for own use on eligible transactions only, N35 will be paid and payment was done quarterly.
His words:” The basic fact is that there is no more dollar, the one we are earning is very little compared to the Volume of import we are bringing, the CBN in its initiative came up with this noble idea to look inward and earn foreign exchange, and we as a bank have taken it up to partner with them.
“In Nigeria, we think the main thing is import, to the extent that if you are not involved in import people think you are not doing anything, but the pendulum has now shifted to export, and as a bank we are ready to give you the needed support both financial and advisory services. We are very serious about this, which is why we have set up an export desk to assist those who will come to us for all the necessary support.
“Nigerians, must stop thinking consumption alone and start thinking production, it is only when we produce that our GDP will grow and invariably our per Capita income too.
“When our Per Capita income grows then we begin to earn Foreign Exchange. What this simply means is that that cost of goods will begin to drop because the exchange rate will also drop and we will begin to have stability in our economy which is what every growing economy hopes for,” he said.
Mr. Michael Chimah encouraged non-oil imposters in the region to take advantage of the programme which is billed to run between 3 to 5 years as the Bank was willing and ready to walk the talk with them.
Earlier, Mr. Osas Damian Omorogbe, Trade Promotion Advisor, Nigerian Export Promotion council, NEPC, Calabar Export Assistant Office emphasized on the need for exporters to get it right especially on the exports process, documentations and standardization of products.
Omorogbe urged the importers to know their markets before embarking on exports while commending Polaris Bank for the initiative as well as partnering with CBN to promote and encourage non-oil exporters to key into the RT USD200 billion FX programme which he described as welcome development.
He also called on non-oil importers to ensure the repatriation of funds which will in no small way boost our economy.
The Bank had earlier held similar roadshow and sensitization to exporters in other major cities in Nigeria like Ado-Ekiti and Kano among others.
Culled From Vanguard Newspaper
Business
Shares purchase:Tony Ganger company slams N500million suit on Quantum Zenith Trustees investments company
Published
6 days agoon
June 18, 2022

The Group Chief Executive, Oando Plc., Mr Adewale Tinubu, on Thursday in Cairo, Egypt, addressed the ongoing meeting of the African Export-Import Bank, Afreximbank, where he spoke on “Catalyzing the Economic Transformation Power of Sub-Sovereigns in the AfCFTA Era.”
Tinubu spoke on the need to support the growth of small and medium-sized enterprises within the framework of the African Free Trade Agreement, an initiative of the African Export-Import Bank, aimed at accelerating the process of diversifying African trade.
Oando Plc., is a gold sponsor of this year’s Afreximbank meeting.
More than 3,000 high-level banking, governmental, and international personalities are participating in the meeting, organized by the Central Bank of Egypt in cooperation with Afreximbank.
In the audience were central bank governors, African heads of government and ministers, and representatives of international and regional organizations led by the United Nations, the African Union, the World Bank, and the International Monetary Fund, among others.
The four-day meeting included the holding of 30 plenary and main sessions, in addition to two exhibitions on the main programmes and initiatives to diversify the African trade for better results.
Blessed with persuasive language, Tinubu does not give public speeches everyday, but the dexterity with which he delivered his address showed his great grasp of development in international business and trade..
The Oando boss was able to wow the audience by his presentation that also showed that the continent of Africa does not lack talents who can hold their heads high anywhere in the world.


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