What are retired CEOs doing now? – TheMoneyOffice

Lagos – Part of Sanusi Lamido Sanusi’s legacy as governor of the Central Bank of Nigeria (CBN) (2009-2014) is the introduction of the Good Corporate Governance Policy, which sets the maximum tenure for the bank’s managing directors. 10 years only. Clearly, it was set up as a guarantee against the bank’s self-sufficient managing directors, some of whom set up banks after the CBN (under the watchful eye of Governor Sukuma Soludo) opened up the banking sector. Private Sector Investment and Integration. in 2004.

With the exception of the likes of Zenith Bank’s Jim Oviya and Tony Elumelu, the UPA has doubled its stake in most of the banks it has set up, so it reverts to the chairman’s chair after falling asleep in infamy. Within five years, the former CEO of IPDC, Attock Peterside, started a private airline ANAP-Jets, and Iqboj Lomokuvit, former MD / CEO of Access Bank, became head of insurance at Wepik – a subsidiary of Access Bank and Climate Committed to change. .Involves itself in the activities of many international academics and organizations.

Tsunami’s Good Corporate Governance Former Sky Bank MD Tsunami Femi Akinfenwa has switched to the oil / gas field in Fami Otodola as MD of Ford Oil.Unlike others, UPA’s Philip Odusa (who took over the leadership from Elumelu, founded Nova Commercial Bank after completing his 10 years as MD and Zenith Bank’s immediate former GMT, Peter Amanbo (current CBN of bank and governor) Were in charge) set up Ambilboul), where he serves as chairman after retirement.

Emega Emuwa recently left Union Bank, where she has worked as an MD since 2012. But he may be asleep because he is not in the public domain where he is or what he does or is currently outside of the financial services sector. .Nimadi Okonkwo, the most recently retired MD of a bank, is the former CEO of Fidelity Bank. He is currently sleeping – taking a decent rest.

Will he build a bank like Odusa and Amango, or will he behave in a related field like Fintech Trading, such as former deputy governor of CBN and former Vema Bank MD, who founded Flutterwave, creating a money-transfer platform in Dluthemo Established? More recently, in October, Blatterwave Services was shut down by CBN as a strategy by top financial institutions to cut financial resources for #EndSARS young protesters. But it has returned to business today as a unicorn B1B by analysis – raising the C series capital to 170 million meters.

Sekun Akbaje, MD / CEO of GT Bank, is scheduled to retire in June in a few months, especially pre-retirement retirement starting this month.He is already a member of PepsiCo’s board.Will he remain in the financial services sector or will it make it easier for the real sector to produce and manufacture goods – instead of which he was a banker?The first founder and CEO of a bank presented a blessed memento to its co-founder Toyo Aderino, Fola Adiola.

He made a clear distinction from the banking sector by not being a leader. Instead he went on to other endeavors.He founded the FATE Foundation, a humanitarian organization, and later entered politics as the presidential candidate for the Nigeria Passive Action Congress (CAN), with Vice Presidential candidate Nhu Ribadu as President of EFCC.

Former Diamond Bank’s former MD / CEO Alex Otti has retired from his governorship race. After two unsuccessful attempts to become a supporter of the Umiya government house in Abia State, he is still moving forward on the political path in the hope that he will be lucky for the third time.Recently, Togunbo Abiru resigned as MD / CEO of Polaris Bank to run for senator in Lagos. He is now a service senator who probably wants to run for Lagos State Governor, ending the office tour of current Governor Jit Sanwo-Olu.

Surprisingly, the former bank CEO did not retire from education in Nigeria, as did Pat Utomi when he retired from Volkswagen, Nigeria as acting MD / CEO at Pan Africa University, where he is now a training professor. Huh. Even former CBN Governor Sukuma Salto is intellectually interested. Instead, he seeks a cubernatorial seat in Anbra State, which he has avoided in the past as he ran for the governor of a state rather than being the governor of the CBN – also known as the governor of wealth.

In the absence of many intellectuals, of course many have lost practical knowledge because those reserves do not share or pass on to the new generation in our higher educational institutions.

If senior bankers (like MDs and EDs) have a center of attraction in their respective banks, I wonder if some of them have helped develop their bank balance personally (Zenith Bank, GT Bank, UPA, Access Bank) are still moving forward. The amount of time one would spend working as part-time lecturers in universities, the time to present their knowledge to future generations of bankers through lectures at any vocational training sites such as Financial Institutions Training Centers (FIDC).

Unlike bankers, some large real-world players have changed from industry to diplomacy.When Cadbury retires as President, Christopher Golad is appointed as the High Commissioner of Nigeria to the United Kingdom.In addition to the bank’s CEOs, some bank EDs, such as Elias Ankenzua, came out of Asus Bank in 2019, from which two Globus banks were discovered. A former director of Citibank Nigeria, Fidelis Annabe began his manufacturing career in the pharmaceutical industry when he left. Banks to establish Fitson Drugs.

Significantly, prior to the avalanche, most former bank MDs were CBNs (as they were important ones) prior to the recent event by individuals in Nigeria to set up their own banks to take ownership of banks and for private sector investment in the banking sector. Were) government employees). Or indeed older, resulting in complete retirement.

Especially at that time all banks were owned.Former MD of the late Green Nunco Union Bank. Not to be forgotten is former CBN Governor Ola Vincent, first-time bank MD and later CBN Governor Joseph Sanuki, who also served as CBN Deputy Governor Victor Otoji.

If the financial services sector opens with the participation of private investors, then who knows they will also apply and get a bank license. Let us assume that they still have the power to overcome the difficulties associated with banks ‘MDShip’.When he retired as the MD of First Bank, Olad Olashor founded the Lead Merchant Bank, which is now gone. He also founded Olshor International School in Iluko-Lesa, Osun State.

Ms. Cecilia Elgrave, who is the first female managing director of a large private bank in Nigeria, founded Michael Elbrough University (in memory of her husband, who is a prominent businessman) at Akbaro-Otter near Ugli in Delta State.Jim Oviya, founder of Bank Titanium and Nigeria’s most profitable bank, Zenith Bank, which recently owns approximately N100bn to shareholders, has also stepped into the social investment sector in education.

He began a search for James Hope College (the leader of the proverb yesterday) in Akobor, Delta State, to provide a platform for knowledge development.When he was recently licensed to set up a university, he increased his investment in education to some extent.