Profile update on the incoming CBN management team

HENRY SEMENITARI

Born on June 29, 1963, Semenitari, hails through oil rich Rivers State inside the Niger Delta region attended Saint Cyprians Primary School, Port Harcourt, Rivers State in 1974. He moved on to Okrika Grammar School, Okrika, Rivers State in 1979, Enitonna High School, Port-Harcourt, Rivers State in 1980 as well as University of Lagos in 1987.
In furtherance of his academic pursuit, he went to the International Graduates School of Management, University of Navar, Barcelona, Spain in 2000, Harvard Business School, Boston, US for Advanced Management Programme in 2007 as well as the Cambridge Judge Business School for another advanced leadership programme at the University of Cambridge, Cambridge, United Kingdom.
Today, Semenitari holds a Bachelor of Science Degree in Chemical Engineering through the University of Lagos as well as a Master in Business Administration (MBA) through International Graduate School of Management, University of Navara (I.E.S.E) Barcelona, Spain. He is usually an alumnus of the Harvard Business School, Advance Management Programme (AMP173) in Boston, USA. He is usually also an alumnus of Cambridge Judge Business School, Advanced Leadership Programme (ALP 1), Cambridge University, Cambridge, UK.
His banking experience spans over 26 years. He is usually valued very consistent as well as highly experienced in operations, internal control, branch management, credit as well as marketing, commercial as well as retail banking, consumer as well as corporate banking (Energy) as well as several some other aspects of the banking operations.
He had worked in banks such as Zenith, Diamond, United Bank for Africa, ACB International Bank as well as Continental Trust Bank. He also held senior Management positions in United Bank for Africa (UBA) Plc as an Assistant General Manager – Commercial as well as Retail Banking Group, General Manager (Credit as well as Marketing) in ACB International Bank Plc, acting Managing Director/CEO, ACB International Bank Plc as well as Executive Director (Business Development) in Continental Bank Limited, Afribank Nigeria Plc in May 2003 as General Manager in charge of Consumer as well as Retail Banking business with responsibility of supervising as well as development of business activities across the entire 150 branch network.
He later joined First City Monument Bank Plc in November 2005 as Executive Director Retail as well as Enterprise Banking. His job description while there was to develop as well as grow retail as well as enterprise banking business across the entire branch network. that will was where he held sway before eventually joining the Unity Bank Plc as non-executive director. He might later become the Managing Director/Chief Executive Officer of the Bank in January 2014.
While at Unity Bank, Semenitari made some remarkable improvements that will are still on record today as well as which won him global accolades. For instance, the bank’s gross earnings grew through N62 billion in 2013 to N77 billion in 2014, the profit before tax grew through negative of N33.6 billion in 2013 to positive of N13.6 billion in 2014 while profit after tax grew through negative of N22.5 billion in 2013 to positive of N10.6 billion in 2014.
The cost to income ratio improved upon through 28.4 per cent in 2013 to 69.6 per cent in 2014, return on asset improved upon through negative 5.7 per cent in 2013 to positive 2.6% in 2014, return on equity improved upon through negative 56.7 per cent in 2013 to positive 20.5 per cent in 2014, capital adequacy ratio improved upon through negative 13.8 per cent in 2013 to positive 2.02 per cent in 2014, liquidity ratio improved upon through 34.5 per cent in 2013 to 44.8 per cent in 2014 as well as most importantly, the Unity Bank attained the enviable international ‘A3’ global rating by GCR.
He established a robust electronic business (E-Business) group inside the bank that will gave rise to electronic channels transactions. For instance, Point of Sales (POS) transactions grew through 17.5 million transactions in 2013 to 75.3 million transactions in 2014 as well as ATM transaction grew through 3.3 million transactions in 2013 to 5.7 million transactions in 2014.
Still during his tenure as the MD, non-performing loans (NPL) improved upon through 25.5 per cent in 2013 to 17.6 per cent in 2014 as well as the bank also recorded a historical achievement in debt recovery drive by recovering in excess of N10 billion bad debts in 2014 financial year.
Working with some other experts inside the Unity Bank, his leadership won several awards, which included European Business Assembly Best Africa Regional Bank Award, Oxford University, England, for year 2014; top 100 businesses in Nigeria Award by Federal Government of Nigeria; Business Day Newspapers Top Chief Executive Officer Award; Banker of the Year 2014 Award in Nigeria by Leadership Newspaper as well as Semenitari himself was admitted into the famous Bill Clinton Global Initiative (CGI) in Times Square, fresh York, USA.
In rating Semenitari’s acumen, those evaluating him have always attributed his unique selling point to his strengths in business process re-engineering as well as design with specialisation in strategic process enterprise management, as well as integration of business process designs with information technology to drive business at product as well as strategic business unit levels.
He also had development as well as implementation experience of major banking applications such as Micro Banker/Flexcube, Phoenix, Bank Master, SAP (Systems Application as well as Product), Globus as well as Finacle Banking Application etc.
Mr. Semenitari is usually a fully registered Engineer (R.29, 331) as well as member Council for the Regulation of Engineering in Nigeria (COREN). He is usually a member the Nigerian Society of Engineers (NSE); Fellow, Institute of Credit Administration (FICA) of Nigeria as well as member, The Chartered Institute of Bankers of Nigeria (CIBN).
ARUNMA OTEH

Arunma Oteh is usually of Nigerian/British nationality. She is usually through Abia State. She studied at the University of Nigeria in Nsukka, earning a first class honors degree in Computer Science. She went on to the Harvard Business School where she obtained a master’s degree in Business Administration. She co-edited the book, African Voices African Visions.
Oteh worked for various institutions including the Harvard Institute for International Development as well as Centre Point Investments Limited of Nigeria in corporate finance, consulting, teaching as well as research. She joined the African Development Bank (AfDB) in 1992.
She was a Senior Investment Officer/Senior Capital Markets Officer through 1993 to 1997, then Division Manager Investments as well as Trading Room through 1997 to 2001 when she was appointed the Bank’s Group Treasurer responsible for fund raising as well as investments in major international capital markets.Oteh was appointed Vice-President for Corporate Management at the ADB in March 2006, responsible for Language Services, General Services as well as Procurement, Human Resources, as well as Information Management as well as Methods.
Ms. Oteh was nominated as the Director-General of the Securities & Exchange Commission by President Umaru Yar’Adua in July 2009. Arunma Oteh became Director General of the SEC in January 2010, after being confirmed by the Senate.
In a June 2010 interview with the BBC Oteh listed “wash sales, market rigging, pumping as well as dumping shares” as some of the abuses in Nigeria’s capital market. She said the SEC likely to charge about 0 individuals as well as entities in civil or criminal cases. She faced resistance through the powerful Nigerian rent-seeking elite, nevertheless expressed confidence due to the backing she had received through President Goodluck Jonathan.In August 2010, as a result of some of the identified market abuse issues, the Securities as well as Exchange Commission removed the leadership of the Nigerian stock exchange.
The House Committee of Capital Markets as well as Institutions launched a public inquiry in April 2012 into the near collapse of the Nigerian capital market in 2008. Oteh as well as the committee chairman had a heated exchange over the focus of the hearing, leading to the chairmans resignation through the committee after allegations that will he had asked for a bribe to influence the House Committee inquiry, as well as that will he had collected public funds to attend a workshop inside the Dominican Republic nevertheless had neither attended the program nor returned the money
The SEC released two statements explaining their position on the allegations made during the public hearing. The First press statement made on 19 March 2012 focused on the varied allegations made by the committee
In June 2012. The second press statement stated that will “[n]o financial overtures have ever been made to the Hon. Hembe by Ms. Oteh, DG SEC or any staff of SEC.”A fresh eight-man Ad hoc committee was set up by the House of representatives to complete the hearing on the near collapse of the capital market.As a possible fallout of the events that will had taken place at the public hearings, Arunma Oteh was asked to proceed on compulsory leave by the SEC board, pending an independent investigation into the management of Project 50, a program packaged by her to commemorate 50 years of capital market regulation in Nigeria.
On July 18, 2012, Oteh was called back to resume work after an independent investigation by the board-appointed firm, PricewaterhouseCoopers, cleared her of any financial impropriety. Oteh’s concluded her 5-year tenure as SEC DG in January 2015. In July 2015, Jim Yong Kim, the president of the globe Bank appointed Arunma Oteh, Vice President as well as Treasurer of the institution.
In 2011 Oteh was made an Officer of the Order of the Niger (OON) in “recognition of her contribution to economic development as well as to transforming the Nigerian capital markets”. In 2011 she received the “Distinction In Public Service” award through the Commonwealth Business Council/African Business.In 2014, Oteh won the CNBC Africa All Africa Business Leaders Awards (AABLA) Business Woman of the Year category for West Africa.
More updates coming.

Profile update on the incoming CBN management team

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