In an effort to consolidate on its impressive financial performances and market leadership across the financial services spectrum, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced a number of Board appointments in some of its subsidiaries.
The appointments, which are expected to bring fresh thinking and ideas as well as energy into the Group’s operations, cut across the Stanbic IBTC Group, including Stanbic IBTC Bank, Stanbic IBTC Asset Management Limited, Stanbic IBTC Pension Managers Limited, and Stanbic IBTC Insurance Brokers Limited.
Mr Adekunle Adedeji was promoted to the position of executive director Stanbic IBTC Holdings PLC, effective 22 February 2019. Mr Adedeji, who has over 20 years’ experience, is also Stanbic IBTC Group’s Chief Financial Officer. He had a similar experience with Stanbic Ghana. Adedeji has worked with Ernst & Young and belongs to several professional institutes, including the Institute of Chartered Accountants of Nigeria.
Mr Barend Johannes Kruger was appointed as a non-executive director for Stanbic IBTC Bank effective from 20 May 2019 following the receipt of all required regulatory approvals. Mr Kruger had previously been appointed to the board of Stanbic IBTC Holdings PLC in January 2019. Thus, he will now serve on both the HoldCo and the bank boards as a non-executive director. Mr Kruger is a chartered accountant with over 30 years’ experience in the financial services industry.
Also appointed to the board of the Bank, following regulatory approvals, was Ms Rabi Isma as an Independent non-executive director, effective from 09 May 2019. Ms Isma has extensive experience in the telecoms industry with 9Mobile and Etisalat Sri Lanka. She has previous worked for the British Council in Nigeria and served as special adviser to the governor of Kano State. Ms. Isma has multiple certifications and has attended several executive programmes, both at the Harvard and Michigan Ross Business Schools, United States of America.
Mrs Bunmi Dayo-Olagunju has been appointed Executive Director, Operations, for the Bank. Prior to this, Mrs. Dayo-Olagunju was Deputy Head of Operations and also previously served as Chief Executive of Stanbic IBTC Asset Management Limited, the Group’s Asset Management subsidiary. She has over 20 years of hands-on experience in the financial services industry having worked in different capacities across the subsidiaries of Stanbic IBTC Group.
Similarly, Mr. Dele Sotubo replaced Mrs. Dayo-Olagunju as Chief Executive of Stanbic IBTC Asset Management Limited effective 12 February 2019; Mr. Olumide Oyetan was appointed Executive Director, Investments, Stanbic IBTC Pension Managers Limited with effect from 1 March 2019; Mr. Charles Emelue was appointed Executive Director, Operations, Stanbic IBTC Pension Managers Limited on 1 April 2019 while Ms. Sakeenat Bakare was appointed Executive Director for Stanbic IBTC Insurance Brokers Limited, effective 26 February 2019.
These individuals are highly qualified and experienced to deliver results in their new roles. Commenting on the appointments, Chief Executive, Stanbic IBTC Holdings PLC, Mr Yinka Sanni, said: “We are pleased to entrust these individuals with new responsibilities and look forward to benefiting immensely from their wealth of knowledge and experience as we enter the next phase of our growth. In filling these roles, we identified our priorities and these individuals fit into our growth objectives.”
U.S. Customs and Border Protection (CBP) officers at Baltimore Washington International Thurgood Marshall Airport (BWI) seized nearly $21,000 of unreported currency from a Nigerian couple at the weekend.
The Nigerians who arrived on a flight from London, reported to CBP officers that they possessed $15,000. However, officers discovered an additional $5,850 in the woman’s purse.
The officers seized the $20,850 and then released $4,990 to the couple as humanitarian relief. The officers also released the couple to continue their visit, saving them from criminal prosecution.
The Nigerians were not identified in a press statement issued on Tuesday.
US Customs said it is perfectly legal to carry large sums of currency in or out of the United States.
However, federal law requires that travellers who possess $10,000 or more in currency or other monetary instruments must report it all to a CBP officer at the airport, seaport, or land border crossing when entering or leaving the country.
￼Customs and Border Protection officers are highly trained to uncover illicit activity and they are committed to enforcing the laws of the United States.
“Customs and Border Protection officers are highly trained to uncover illicit activity and they are committed to enforcing the laws of the United States,” said Casey Durst, CBP’s Field Operations Director in Baltimore.
“Unreported currency often can be proceeds from alleged illicit activity, or used to fund transnational criminal organisations and I commend our officers on this interception”.
CBP recently issued travel tips for international travel through BWI. Chiefly among those tips is for travellers to truthfully report all currency they possess to a CBP officer during inspection.
Consequences for violating U.S. currency reporting laws are severe; penalties may include seizure of most or all of the traveler’s currency, and potential criminal charges.
CBP uses a variety of techniques to intercept narcotics, unreported currency, weapons, counterfeit consumer goods, prohibited agriculture, and other illicit products, and to assure that global tourism remains safe and strong.
On a typical day, CBP seizes an average of about $290,000 in unreported or illicit currency along our nation’s borders. (PM News)
Popular American singer Rihanna has been named as the richest female musician with $600 million fortune, just a few days after Jay Z was declared the first billionaire in hip-hop history.
Rihanna was declared the richest after her fortune surpassed Madonna’s who has $570 million, Celine Dion with $450 million and Beyonce who garnered $400 million.
The singer’s wealth came from her music, make-up brand Fenty Beauty co-owned by French luxury giant LVMH in September 2017 online and with Sephora.
Due to Rihanna’s fame, the line recorded a revenue of $570 million last year just 15 months of business.
According to Forbes, the singer makes her money from touring and musical releases, however, she makes money from co-owning Savage X Fenty lingerie line.
Back in May, Rihanna signed a deal with LVMH to launch a luxury fashion brand based in Paris which will produce readymade clothes, shoes, and accessories.
“I just want to see things from my perspective. I’m a young black woman who loves and embraces all of the young people’s ideas and energies,” she told AFP in Paris recently.
“It is about turning all of that into something luxurious for this fashion house.”
In addition to her venture into luxury fashion, Rihanna has hinted at dropping a new reggae album this year.
“I never thought I’d make this much money, so a number is not going to stop me from working,” she told The New York Times’ T Magazine in May.
“Money is happening along the way, but I’m working out of what I love to do, what I’m passionate about.”