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Former Wema Bank MD Ademola Adebise, Olufunmilayo Adedibu Join FCMB Board

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First City Monument Bank (FCMB) Limited has welcomed two new members to its board of directors.

They are Mr Ademola Adebise, a respected figure in the Nigerian financial industry, and Mrs Olufunmilayo Adedibu, a distinguished lawyer with a wealth of experience in legal practice and banking.

Their appointments as the bank’s non-executive directors follow the approval of the Central Bank of Nigeria(CBN), underscoring their credibility and competence.

Adebise, a seasoned banker with over three decades of experience, recently served as the Managing Director of Wema Bank Plc. He brings a wealth of knowledge and expertise to FCMB. Recently, he was appointed by the federal government as the Chairman of the Board of Directors of Family Homes Funds Limited.

His career spans various sectors of the financial industry, including technology, risk management, and strategic planning.

He has also held key positions at prominent Nigerian banks and non-banking financial institutions, including the legacy Chartered Bank, Nigeria Inter-Bank Settlement System Plc and Accenture (a global Consulting firm). Adebise serves on the Board of AIICO Insurance, AIICO Capital and Duchess International Hospital.

With a B.Sc in Computer Science from the University of Lagos and an MBA from Lagos Business School, Adebise blends technical expertise with business acumen. He is also a Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers. He has completed executive programmes at prestigious institutions such as the University of Cambridge and Harvard Business School.

Adedibu, the Group General Counsel and Company Secretary of FCMB Group Plc, brings about 32 years of post-graduation experience to the First City Monument Bank board, 29 of which span Corporate Banking, Commercial Banking, Risk Management, Banking Operations, Insurance and Compliance.

With a bachelor’s degree in law (LL. B) obtained from Obafemi Awolowo University, a Master of Law degree (LL.M) from the University of Lagos and a B.L from the Nigerian Law School, she started her legal career with the Law firm of Chris Ogunbanjo and Co where she garnered much experience in litigation, company law, Copyrights and Patent Laws before joining the banking Industry.

 

Adedibu has completed leadership and management training from Harvard Business School, Wharton School of Business, Queen’s School of Business Canada, Lagos Business School, and Euromoney Loan Documentation and Advanced Loan Documentation Training in New York.

She is a member of the Nigerian Bar Association (NBA), the International Bar Association (IBA), a Life member of the Institute of Directors (IoD), an Honorary member of the Chartered Institute of Bankers of Nigeria (HCIB) and Toastmasters International. She also sits on the Board of CRC Credit Bureau Limited.

Adding Adebise and Adedibu to the First City Monument Bank board is expected to strengthen the company’s leadership and contribute to its continued growth in the Nigerian market. First City Monument Bank Limited is a member of FCMB Group Plc, a diversified financial services company with interests in banking, consumer finance, investment banking, and investment management.

 

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Nigerian Police Refund N1million Cash Extorted From Corps Members In Lagos As Officers Undergo Probe

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Three members of the National Youth Service Corps (NYSC) have been refunded N1million, which was allegedly extorted by four police officers in Surulere area of Lagos State.

 

The officers reportedly demanded the money after the corps members failed to provide a physical copy of a driver’s licence.

 

 

An X user, Oluyemi Fasipe, had shared details of the incident, stating that one of the corps members was also forced to transfer Bitcoin worth $842 to the officers.

 

 

The Lagos Police Public Relations Officer, Benjamin Hundeyin, confirmed the officers involved had been identified and were undergoing interrogation.

 

“The rogue men of the Area C command of the @LagosPoliceNG who extorted over 1 million naira from the corp members have refunded the money,” Fasipe tweeted on Friday, October 4.

 

 

Hundeyin had stated that the outcome of the trial would determine the culpability of the officers, which could lead to their dismissal. Fasipe also expressed appreciation for the efforts of both Hundeyin and the Lagos State NYSC office in facilitating the refund.

 

He further added, “I like to appreciate @BenHundeyin and the @officialnyscng Lagos State for their efforts too. I also like to use the opportunity to say hello to my friend in Delta State, @Brightgoldenboy.”

 

 

 

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FBI Requests EFCC’s Assistance To Arrest Two Nigerians, Shodiya Babatunde and Yinka Ahmed For Stealing $13Million From American Healthcare Provider…

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The Federal Bureau of Investigation has urged the Economic and Financial Crimes Commission to help track down and apprehend two Nigerian fugitives wanted over a multimillion-dollar healthcare scheme in the United States.

 

 

Babatunde Shodiya and Yinka Jamiu were indicted on September 25 by a grand jury at the U.S. District Court of Minnesota over their involvement in a scheme that saw several healthcare providers lose $13 million between October 2020 and 2024.

 

American officials said the suspects are citizens and residents of Nigeria and urged Nigeria’s frontline anti-graft office to help locate and take them into custody, according to officials familiar with the matter who briefed Peoples Gazette.

 

 

The U.S. officials have reached out to us and they said the suspects are hiding in the country,” an EFCC agent said under anonymity to comment on an ongoing investigation. “We have an obligation to honour the request of our U.S. counterparts as part of our longstanding collaboration to combat cross-border crimes.”

 

Messrs Shodiya and Jamiu targeted at least four Minnesota-based health service providers and tricked them into paying $13 million to a manipulated account rather than the intended beneficiaries.

 

 

Knowing that Optum Pay was the preferred payment system that major health service providers adopted in Minnesota, Messrs Shodiya and Jamiu created a fake domain to divert payment for health plans into an account they set up.

 

After creating a fake domain, fairviewhospitals.org, they opened email accounts in the name of the hospital’s CEO, executive vice-president and business analyst.

 

 

With the fake addresses, Messrs Shodiya and Jamiu sent emails to Fairview employees directing them to “access an Internet link and provide information,” including their usernames and passwords.

 

From the information supplied by the unsuspecting staff, the duo gained access to Fairview’s Optum Pay account and changed the bank information to another account.

 

“Defendants Babatunde and Ahmed then changed the banking information on vendor accounts in order to direct third-party vendors to transfer funds intended for Fairview Health into unauthorised bank accounts controlled by the defendants and their co-conspirators,” the indictment sheet stated.

 

 

While posing as Fairview Health CEO and executives, the suspects contacted vendor companies, including Blue Cross Blue Shield, to update their payment accounts with new ones.

 

“On or about July 29, 2020, Blue Cross Blue Shield of Minnesota made approximately 18 wire transfers totalling nearly $8 million to an account controlled by the defendants,” stated the indictment.

 

Company B, another vendor whose identity the FBI shielded, transferred over $1 million to the fraudulent account on November 19, 2020.

 

 

Company A, a vendor health plan provider, deposited $2.8 million into the fake account in two tranches: $1.4 million on November 25, 2020, and the second $1.4 million on December 4, 2020.

 

For impersonating Fairview’s CEO and other business executives on June 20, 2020, Mr Shodiya was facing additional charges of aggravated identity theft asides the wire fraud charges.

 

The duo will forfeit any money and property linked to the proceeds of the fraud to the U.S. government.

 

If the EFCC successfully tracks down Mr Shodiya and Mr Jamiu, they will be extradited to the U.S. to stand trial.

 

 

Peoples Gazette

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GTCO Speaks On False News Report Against Its Business Activities, Results Among Other Allegations 

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Based on the incessant release of false news reports on GTCO’s business activities, Results and its Management Team, it has become necessary to set the records straight and dispel attempts by certain groups to create a false narrative about the GTCO Brand and its Management.

 

The false news articles which are being sponsored using the media, center around baseless allegations against the Group’s business activities and its Executive Management.

 

Being a responsible corporate citizen and a first class institution, GTCO Plc has taken swift and decisive legal actions against the various sources of these false reports, and will continue to use the full extent of the rule of law available to safeguardits reputation.

 

We urge all our Customers, Shareholders and Stakeholders to kindly disregard all the allegations being peddled through various media platforms and handles. All, of our Executive Management team continue to operate in their full capacities as appointed and are not under any financial or regulatory scrutiny as alleged.

 

Thank you for your continued support.

 

 

 

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