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NOVA Merchant Bank’s Funke Okoya Appointed Chairperson, Women’s Empowerment Commission Of Women In Finance Nigeria

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Mrs Funke Okoya, an Executive Director, NOVA Merchant Bank has been appointed Chairperson, Women’s Empowerment Commission of the Women in Finance Nigeria.

Okoya’s appointment was announced along with four other new executives at a recent signing of the International Partnership/Affiliation with the Women Working for Change.

The Women Working for Change is an organ of the African CEO Forum, the largest international forum of the African private sector.

The newly appointed Exco Members were selected from committed Senior Executive members of the organisation and have been charged with the specific duty of chairing the Association’s five new Commission.

Mrs Okoya’s appointment as Chairperson is a major push for the capacity development of women in Nigeria and it is expected to drive initiatives that advance women’s cause, pursuit of financial literacy and inclusion for women while promoting gender parity.

Speaking at the event, the Chairperson, Women in Finance Nigeria, Mrs Toyin Sanni, said, “We are very excited about the launch of these important commissions under the leadership of these dynamic senior executives as well as the election of our new national secretary all of whom served creditably, over time at WIFNG.”

Funke Okoya who expressed excitement at the appointment said, “This appointment is designed to speak to the yearnings of women in Nigeria and further enrich the conversation around capacity building, provide access to finance, broaden value realization, add relevance, recognition and network for women.”

She added that the expanded executive committee demonstrates the association’s commitment to supporting women across the country by providing leadership and sustainable professional development for women, through creative coalition and partnerships with international women organizations like Women Working for Change.

Funke is an Executive Director, Investment Banking and Subsidiaries at NOVA Merchant Bank, and has been driving key initiatives that are transforming the Bank into leadership position.

While congratulating Mrs Okoya on her appointment, the Chairman of NOVA Merchant Bank, Mr Phillips Oduoza, said Funke has been at the forefront of gender diversity, sustainability and female inclusion adding, “As a board, we are glad for the recognition which will elevate the commission to the next level under her chairmanship.”

NOVA Merchant Bank is a leading merchant bank in Nigeria that offers an integrated suite of financial solutions covering Financial Intermediation, Wholesale and Investment Banking, Asset and Wealth Management, Trade Services, Transaction Banking, Cash Management and Digital Banking.

Women in Finance Nigeria (WIFNG) is a non-profit organization registered in 2016 to provide policy advocacy for greater representation of women in the financial sector and in financial roles in Public and Private Sector Organizations. WIFNG advocates for positive economic policies and is a platform for women in financial roles to collectively tackle workplace and societal challenges affecting women.

WIFNG also provides Capacity Building, Networking and Economic Empowerment opportunities. In 2019, it established and registered its UK Chapter, WIFNG UK, a vibrant body for African women working in the United Kingdom Financial Services Sector.

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Senate Asks NSA, DSS To Track Authors of Akpabio Death Rumours

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The Senate has asked the office of the National Security Adviser (ONSA) and the Department of State Services (DSS) to investigate and identify those behind social media reports alleging that Godswill Akpabio, the Senate president, died in a London hospital.

Titus Zam, senator representing Benue north-west, raised the matter during Tuesday’s plenary, describing the reports as dangerous and damaging to Nigeria’s leadership.

“I am raising this motion due to the social media reportage that alluded to the fact that Mr. Senate President died in a London hospital,” Zam said.

“This is a very serious matter; number three citizen in Nigeria; such reports about you, your person, and your office need to be investigated.”

Zam said the spread of false death reports was becoming a pattern, recalling that similar claims were recently made about Yakubu Gowon, the former head of state.

“It’s not only you that was reported in this negative manner; the former head of state, General Yakubu Gowon, was equally reported a few days ago to have died. This is not a good report about the leaders of our country,” Zam said.

The lawmaker called for urgent action against those responsible, arguing that sanctions would deter the spread of harmful misinformation.

“There is an urgent need to not just investigate, but to punish the promoters of such negative news about the leaders of this country,” he said.

“When sanctions are meted out against the promoters of such negative reports about our leaders it will serve as a deterrent to anybody who engages in such an infamous and dangerous act against the leadership of our democracy and our country.”

Zam added that those responsible could be traced through digital footprints.

“The social media promoters of negative information can be traced and they’ll be punished,” he said.

Responding, Akpabio said the problem of false reports was not limited to politicians, noting that misinformation had affected public figures across sectors.

The senate president thereafter asked ONSA and the DSS to identify the originators and promoters of the false reports and take appropriate action.

 

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BREAKING: Dangote Petitions ICPC, Demands Arrest of NMDPRA Boss Ahmed Farouk Over Corruption Allegations

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The Chairman of Dangote Group, Aliko Dangote, has submitted a petition against the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Ahmed Farouk, to the Independent Corrupt Practices and Other Related Offences Commission.

In the petition, dated and submitted on December 16 through his lawyer, Ogwu Onoja, SAN, Dangote called on the ICPC to arrest, investigate and prosecute the NMDPRA boss for allegedly living far beyond his legitimate means as a public servant.

The petition, which was received by the office of the ICPC Chairman, Musa Aliyu, SAN, accused Farouk of spending more than seven million dollars on the education of his four children in Switzerland, allegedly paid upfront for six months, without any lawful source of income to justify such expenditure.

“That Engr Farouk Ahmed has grossly abused his office contrary to the extant provisions of the Code of Conduct for Public Officers and, in doing enmeshed himself in monumental corruption and unlawful spending of Public funds running into millions of dollars.

“That Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over 7million dollars of Public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” the petition read.

Dangote, in the petition, named the four children and the Swiss schools they attend, the amount paid for each of them, to enable the ICPC to verify the claims.

He further alleged that Farouk used the instrumentality of the NMDPRA to embezzle and divert public funds for personal gain and private interests, actions which he claimed had fuelled public outrage and recent protests by various groups.

According to the oil magnate, Farouk has spent his entire adult working life in the Nigerian public sector and could not, based on his legitimate earnings over the years, have accumulated funds close to the alleged seven million dollars used to finance his children’s education abroad.

“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement are gross acts of corrupt practices for which your Commission is statutorily empowered under Section 19 of the ICPC Act to investigate and prosecute,” Dangote said.

He added that upon successful prosecution under the same provision of the law, the offence attracts a prison term of five years without an option of a fine.

The business mogul stated, “That Engr Farouk Ahmed has corruptly enriched himself with taxpayers’ money meant for public consumption and diverted it into private uses.

“Any Public officer who uses his office or position to gratify or confer any corrupt or unfair advantage upon himself or any relation or associate of the public officer or any other public officer shall be guilty of an offence and shall on conviction be liable to imprisonment for five(5) years without option of fine.”

Dangote also expressed confidence in the capacity of the ICPC, working alongside other anti-corruption agencies, to prosecute financial crimes and ensure that offenders are punished once a prima facie case is established.

He therefore urged the Commission to act decisively by investigating the allegations against Farouk and prosecuting him if found culpable, stressing that the matter is already in the public domain.

According to the petition, Dangote said decisive action by the ICPC would help uphold justice and protect the image of the administration of President Bola Tinubu.

He also vowed to provide evidence to substantiate his allegations of corrupt enrichment, abuse of office and impunity against the NMDPRA chief.

Dangote, during a press briefing in Lagos on Sunday, made some allegations against the NMDPRA boss, where he spoke on regulatory failures and alleged corruption in the downstream petroleum sector.

He stated that the allegations, if left unanswered, would continue to undermine public trust and investor confidence.

In June 2025, similar allegations were raised against Farouk by a group of protesters in Abuja, who marched to the office of the Attorney General of the Federation, Code of Conduct Bureau and ICPC, demanding his immediate resignation, alleging that he had turned his office into a personal estate.

The NMDPRA, however, debunked all the allegations, describing them as an orchestrated smear campaign based on false claims against the Chief Executive Officer and his leadership.

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Nigeria To Receive 24 M-346 Fighter Jets From Italy, ‘Largest’ Military Aircraft Acquisition In West Africa

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Nigeria is set to receive 24 M-346 fighter jets from Italy.

In November 2023, the Nigerian Air Force (NAF) struck a deal with Messrs Leonardo, an Italian defence company, for the supply of 24 M-346 fighter aircrafts.

The deal was reportedly worth around €1.2 billion and is said to be the largest military aircraft acquisition in West Africa.

Also included in the contract are 25 years of logistical support, and Leonardo will have exclusivity for maintenance operations.

The aircraft offers seven external attachment points and can integrate air-to-air and ground-to-air ammunition and sight pods attached to helmet-mounted displays.

The first six jets are currently under production in Italy, with three expected to be delivered in 2025, and full deliveries are anticipated to continue through mid-2026.

Hasan Abubakar, the Chief of Air Staff at the time of the purchase, stated that the aircraft would enhance training capabilities and augment operational effectiveness in diverse mission scenarios.

This purchase was part of Nigeria’s broader efforts to strengthen its security, particularly in the northeast of the country, where it fights against Boko Haram militants and the Islamic State, but also against kidnappings and banditry spread throughout the country.

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