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Afribank names four new executive directors


The new Executive Directors are Mr. Stephen Adaji (Ops & IT, Human Capital Management and Corporate Support), Joke Giwa (Retail, Commercial and Corporate Banking), Mr. Nnamdi Christopher Anammah (Institutional Banking) and Mr. Isaac Kamaru Alofoje (Risk Management, Strategy, Remedial & Control).

The new directors, who are tested technocrats, will bring to bear their diverse experiences in banking, management and finance among others and will provide executive direction to the bank’s expansion and industry leadership quest.

The Group Managing Director of Afribank, Mr. Nebolisa Arah, explained that with the appointment of the directors, the implementation of the broad strategy of Afribank, which focuses on stability, confidence restoration and improved performance would enjoy speedy implementation.

Adaji is a fellow of the Association of Chartered Certified Accountants (ACCA) U.K, as well as that of the Institute of Chartered Accountants of Nigeria (ICAN). He qualified in 1974 from the Glasgow College of Technology in the United Kingdom. He has over three decades of accounting career spanned many accounting, merchant and development banking institutions in Britain and Nigeria.

While in Scotland, he worked with the accounting firm of MacLachlan & Brown in Glasgow from 1975 to 1977. He was a staff of Deloitte, Haskins and Sells in Nigeria between 1978 and 1980 from where he was appointed financial Controller of Northern Nigeria Investments Limited (a wholly owned subsidiary of New Nigeria Development Company Limited – NNDC). In 1985, he was appointed the divisional director in charge of Financial Institutions and Commerce Division of NNDC Limited.

Adaji joined NAL Merchant Bank Limited, from NNDC Ltd., in 1989 as General Manager. He held that position until 1992 when he crossed over to the Nigeria Industrial Development Bank Limited (NIDB) as a general manager. He served in that capacity until 2002 when he was appointed executive manager in Bank of Industry Limited (BOI) following the metamorphosis of NIDB into BOI. He retired from BOI in 2005.

He has attended many courses in Finance and Management within and outside Nigeria, including The Henley Management College in England.

Joke Giwa has a Masters Degree in Business Administration (MBA) from Cranfield University, UK that she attended as award winner from the British Council Chevenning Scholarship. Prior to this, she earned her B.Sc. second class upper division degree from the Faculty of Business Administration in University of Lagos. She is a Chartered member of the Chartered Institute of Marketing, UK where she earned post graduate specialisation in International Marketing Strategy, Planning & Control and is also a member of the Chartered Institute of Bankers Nigeria (CIBN).

Joke has 20 years experience covering Banking, International Financial Services and Multinational work experience.

Prior to joining Afribank, Joke was a Country head, Retail Banking in Ecobank Plc, where she initiated and developed the “Marshal Plan Service Training” and “Model Branch” concept that has been adopted as a new standard for all Ecobank affiliates across the 27 countries. Before that she was the country director for MoneyGram International Ltd. – where she set up from scratch the regional office for West Africa and helped triple the market share and revenues of the International Money Transfer company and attracted recognition from the head office in Minneapolis USA.

Other professional experience includes her position as divisional head, Retail Banking in GT Bank – where she set the Retail Banking strategy for a previously corporate type bank and successfully positioned it at the top of the retail banking arena.

During her 11years tenor at GT Bank she also headed various departments in Commercial Banking, Institutional Banking and started up the Telecoms Division from scratch. She was also employed in MTN Nigeria where she served on the Executive Committee and set up the MTN Foundation from scratch.

Anammah is a seasoned and thoroughbred banker with rich experience in the banking and management. He was until his appointment the President of Prudential Trust Company Limited.

Anammah began his career in 1992 with the then Crystal Bank of Africa as the total quality Management Manager in charge of Change Management, Operating Process Management, Customer Services, Credit Administration and Branch Co-ordination. He anchored the repositioning of the bank and achieved excellent results by moving the institution from 15 per cent performance to be one of the top performers.

He moved to Fidelity Bank in 1993 as an assistant general manager/divisional head of Operations and Consumer Banking where he achieved outstanding performance. Due to his exemplary commitment to hard work and excellence, he rose to become the deputy general manager/Investment Banking & Branches, Commercial & Consumer Banking and later Treasury & Consumer Banking.

Among his outstanding achievements in the bank was developing structured trade finance and the successful launching and managing of Fidelity MBA.

In appreciation of his brilliance and distinguished intellectual qualities, he was appointed the president of Guardian Express Bank Plc in year 2000, managing the bank from its conceptual design stage to the actual operating reality on the ground as “founder”.

He worked to practically exceed the profit and revenue targets by 275 per cent in five months and successfully opened and operated four branches within the same period. The bank was also rated the best new bank in overall performance then by CITIBANK.

Anammah exhibited superb academic brilliance as an all round performer. He graduated with First Class Honours in Finance from the University of Nigeria Nsukka in 1987, won The Best Investment Student (1987) and received the Dean’s Award of the University of Nigeria in 1986.

Alofoje was until his appointment deputy-managing director of Financial Derivatives Company Limited, a leading investment, economic research, and financial advisory firm. Alofoje, a chartered accountant, had worked at various reputable corporate institutions spanning banking, consulting, accounting and public sector.

He has successfully handled critical tasks in his over 22 years experience in the corporate world.

At the commencement of his career in the corporate world in 1978 as an auditor with PriceWaterhouse & Company, the new executive director was articled with the firm and undertook the auditing of notable organisations which cuts across banks and several industries alongside the taxation on some of the organisations.

At Financial Derivatives Company Limited, which he joined in 1993 as a deputy managing director, Alofoje exhibited sound management in credit administration, asset management, operations administration and human resources. He had also served on the firm’s Board of Audit and Credit Committee and on the advisory committee of the Federal Government leading to the setting up of Virgin Nigeria Limited.

During his stay at the then International Merchant Bank, Lagos, which he joined in 1981, as a senior manager, Alofoje worked in different departments such as Corporate/Project Finance, Corporate Banking, Loan Review, Treasury, Task Force on Documentation, Task Force on the Establishment of Branch Network handling various responsibilities.

He was also responsible for the designing of the loan classification system of the bank, designing of the credit policy manual, the Credit Approval Memorandum (CAM), the Credit Approval Form (CAF) and the designing of the loan review programme used in the review of credits.

A 1977 alumnus of University of Ibadan from where he obtained a B.Sc. in Economics (Second Class Upper), had a stint with the public sector at the Plateau Rural Electricity Board, Jos in 1977 where he served his compulsory National Youth Corps and held the position of assistant Secretary in charge of the administrative department.

A widely exposed man, Alofoje has attended training and courses both locally and internationally.


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