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NOVA MERCHANT BANK TO HOST CHIEF AUDIT EXECUTIVES OF BANKS IN NIGERIA

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NOVA Merchant Bank, a leading merchant bank in Nigeria will be hosting the 52nd Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria on Thursday, 23 June 2022 at the Oriental Hotel in Lagos.

The meeting which is themed “The Future of Internal Audit in an Increasingly Digital World”, will bring together Auditors and other stakeholders in the banking industry including the Law Enforcement Agencies to deepen discussions on the need to create more innovative processes and formulate automation for Internal Auditors to succeed in the ever-evolving technology landscape.

The Managing Director/Chief Executive Officer of NOVA Merchant Bank Limited, Mr. Nath Ude, who is the chief host of the event, said the bank remains fully committed to supporting initiatives aimed at easing business solutions and promoting digitalisation.

He said, “I am particularly happy at the theme for the event as the topic is apt and in line with the global trend of revolutionalised thinking and the future demands that auditors, who are now dealing with more advanced and more technical business processes, require advanced technical IT and IS skills to bring increased value to their execution.”

He further emphasised that the vulnerability to financial loss and data compromise in the digital space has been a significant concern that requires auditors to understand the digital processes and exposures that businesses face.

Continuing, Mr. Ude noted that a new breed of Internal Auditors will be needed to move organisations forward in this digital world and that businesses must recognize and support this as auditors are an integral part of the workforce.

Also reiterating the need for auditors to understand the digital processes, the Chairman of ACAEBIN, Mr. Uduak Nelson Udoh, said that the banking industry is automating the delivery of its services in line with technological advancement as such, auditors need to reskill, up-skill and innovate to be able to face the challenges of the time.

Mr. Uduak said: “Globally, banking services has been digitized and the recent Covid-19 pandemic has exposed and changed a lot in the way certain types of work are carried out. Banks especially are embracing remote work too as such; the need to open physical branches is beginning to dwindle and is no longer cost-effective. This new development has posed a new challenge to the auditors with the attendant risks to businesses”.

He further stated that the topic couldn’t have come at a better time and it is important Auditors continue to review their methodology in line with emerging issues in the digital space to be able to carry out their functions effectively.

NOVA Merchant Bank continues to demonstrate dominance in the Nigerian merchant banking space with its integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management, and Digital Banking.

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Capital Oil Boss, Senator Ifeanyi Ubah Dies At 52

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The chairman and Chief Executive of Capital Oil, Senator Ifeanyi Ubah is dead. He died at the age of 52.

 

The Anambra Senator was said to have passed on in London.

 

Ubah, who joined the All Progressives Congress, APC, a few months ago, was billed to seek the party’s ticket ahead of the Anambra State governorship election.

 

Details of his demise are still scanty as of the time of filing this report.

 

Details later

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Rotary International District 9112 launches its coastal restoration initiative by planting 1,000 coconut trees in Lagos

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In a bid to promote its mission of improving the environment, Rotary international District 9112 on Sunday kicked off an environment-saving intervention tagged: Coastal Restoration Initiative at Westside Beach, Okun, Ajah, Lagos, where 1000 coconut trees were planted along the coastal shores of the Atlantic Ocean.

 

Speaking at the event, the Governor of Rotary International, District 9112 Rotarian Femi Adenekan said the “initiative is conceived to save the environment as well as reduce the adverse effect of the climate change.”

 

According to him; “the environment is one of the main focus areas of Rotary International. We need to consciously come to the realization that we need to save our environment. We need to save ourselves. So that in the future, those that will come after us will have life.”

“People assume that the world belongs to them. They have forgotten that they are just tenants on the surface of the earth. If you try to change nature, nature will react, which is the reason we are having a lot of environmental damage in the world. Some of wrong human activities, such as throwing plastics and other items into water or where it ought not to be is causing us environmental challenges. If we don’t take care of our environment, the environment will react and take us out of the surface of the earth,” He said.

 

 

The chairman of the District 9112 Tree Planting Committee, Rtn. Gboyega Bada recommended the adoption of an “Every Rotarian Plant a Tree Every Year” policy and also indicated plans for Rotary International District 9112 to propose a Private Bill to the Lagos State House of Assembly to enable all Lagos Residents plant a tree every year for the next five years to address the challenges of climate change.

 

Rtn Bada stated that the vision of Rotary District 9112 on Tree Planting is to achieve a safer and cleaner environment by planting 10,000 seedlings of Coconut, Mango, Breadfruit, Avocado and other ralated crops that have economic, health and environmental benefits.

 

The event was well attended by Stakeholders in the Private and Public Sectors. Pan African Towers Ltd, Tolaram Group, Azeez Amida Foundation, Telenoetica Ltd, amongst others were well represented. Past District Governor Tunji Funsho led other Rotary Leaders to give their support. The DG’s wife Rtn Tayo Adenekan, the District Governor elect Rtn Lanre Adedoyin, General Manager of Lagos State Coconut Development Authority, Dapo Olakulehim and Lagos State Parks and Gardens Agency, Club Presidents and Rotarians from the 73 Clubs graced the occasion.

 

 

Also speaking at the event, one of the Guest Speakers, the world acclaimed horticulturist, Mr. Andrew Vale of Tolaram Group and The Lagos Free Zone, highlighted the importance of trees, saying; “planting trees improves air quality, reduces air pollution, and illnesses from air pollution. More so, plants produce oxygen and provide shelter, medicine, and many more.”

 

In his own special remarks, Chairman, LUFASI Park and DG Coconut Naija, Dr. Desmond Majekodunmi, said; “the basic fact about the environment is that whatever you sow, you shall reap. The environment will always treat you, the way you treat it.”

 

It is of note that the vision of District 9112 on tree planting for this year is to achieve a safer and cleaner environment through the planting of 10,000 seedlings of coconut, mango, breadfruit, avocado and other related crops that have economic, health and environmental benefits.

 

The event was witnessed and supported by main stakeholders in the industry, agencies and partners which included, Mr Dapo Olakulehin, General Manager, Lagos State Coconut Development Authority (LASCODA), Mr Andrew Vale of Tolaram Group, Channel Scott from Pan African Towers, Azeez Amida Foundation, Telenoetica, The Legend Lifeskills Foundation, Etam Avitat, Lagos State Parks and Gardens Agency (LASPARK) , presidents and members of various Rotary Clubs in District 9112 amongst others.

 

Rotary leaders who witnessed the event are PDG Tunji Funsho, PDG Kamoru Omotosho, PDG Omotunde Lawson amongst others.

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Ohanaeze President-General, Chief Emmanuel Iwuanyanwu, Is Dead

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The President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu is dead.

 

The Publicity Secretary of Ohanaeze Ndigbo, Dr Alex Ogbonnia confirmed the death to the News Agency of Nigeria (NAN) on Thursday in Enugu.

 

“Today is a bad day for Ndigbo. It’s true! Ahaeji aga Mba is gone.

 

“Ohaneze is yet to issue an official statement on the demise of our President General, Chief Iwuanyanwu, but he is gone.

 

Aged 82, Iwuanyanwu was elected the President General of the apex Igbo cultural organisation on April 20, 2023 following the sudden death of his predecessor, Prof George Obiozor.

 

An unconfirmed report said that the octogenarian died in the Federal Capital Territory, FCT, Abuja on Thursday, July 25.

 

NAN reports that Iwuanyanwu is the second President General of Ohanaeze Ndigbo to die in office after his predecessor, Prof. George Obiozor, who also died in office.

 

Chief Emmanuel Iwuanyanwu is a prominent Nigerian businessman, politician, and philanthropist known for his significant contributions to various sectors, particularly in the Igbo community

and beyond. (NAN)

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