February 2, 2016/FirstBank

The Ogun State government has conferred the special recognition award on the distinguished Statesman, Business Mogul, renowned Philanthropist and Group Chairman of FBN Holdings Plc, Dr. Oba Otudeko, CFR.

The award, which is part of the 40th anniversary celebrations of Ogun State, was conferred on five outstanding Ogun stakeholders on Tuesday, February 2nd, 2016. Oba Otudeko (CFR) is a Nigerian entrepreneur and visionary reputed for his highly successful domestic and foreign investments that cut across diverse sectors of the economy.

He was a former President of the Nigerian Stock Exchange and assumed responsibility for the change transformation of the Nigerian capital market along with its Council driving the market to its highest capitalization ever during his tenure.

Outside of the private sector, Oba Otudeko has had a distinguished career in public service, especially in the area of education. He was Chancellor of the Olabisi Onabanjo University (formerly Ogun State University), Ago-Iwoye, Ogun State, between 2001 and 2010 and a member of the Africa Regional Advisory Board of London Business School, London, UK.  Dr. Otudeko also served on the board of several blue-chip companies including Airtel Nigeria Limited, Fan Milk Nigeria Plc, Central Bank of Nigeria and the Chairman of Honeywell Nigeria Plc.

He is a recipient of several awards and national honours including the Commander of the Federal Republic (CFR) in 2011. He is Fellow of the Chartered Institute of Bankers, UK; Fellow of the Institute of Chartered and Corporate Accountants, UK; Fellow of the Institute of Chartered Accountants, Nigeria and Fellow of the Institute Chartered Secretaries and Administrators of Nigeria.

According to the Global Head, Marketing and Corporate Communications, FBN Holdings Plc, Folake Ani-Mumuney, FBN Holdings celebrates this honour bestowed on its Chairman by the Ogun State Government. “Dr. Otudeko has brought about advancement to the Group as he applies his far-reaching experiences in his leadership of the Board. We are immensely proud of him even as he adds another feather of success to his cap”, she further stated.

Signed

Folake Ani-Mumuney

Global Head, Marketing & Corporate Communications

www.firstbanknigeria.com

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The Bankers’ Committee has said that Ogun will be added among the states it plans to extend the cashless policy to from July 1, 2013.

With this, Ogun will join Rivers, Kano, Anambra and Abia States as well as the Federal Capital Territory (FCT) announced earlier for July 1, implementation of the policy aimed at reducing the dominance of cash in the economy.

A statement Tuesday explained that the decision to extend the policy to Ogun was made at the recent Bankers’ Committee meeting held in Abuja.

Head, Shared Services, Central Bank of Nigeria (CBN), Mr. Chidi Umeano, said the aforementioned states and the FCT were chosen because of the large volume of cash transactions in some of their major cities such as Aba, Kano, Port Harcourt and Onitsha among others.
Umeano explained that the policy earlier planned to be implemented in other states in January 2013 was deferred due to some infrastructural challenges.

The CBN Deputy Governor Operations, Mr. Tunde Lemo had said in an interview with THISDAY: “When we talk about nationwide roll-out, we are also being careful to ensure that we make use of resources in a smart way. What we would do in July is to look at those other market clusters where large volumes are transacted and add them to Lagos.”

Source: Thisday (By Obinna Chima)

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