News
Ntel appoints Babatunde Omotoba as MD/CEO
BY: Justice Godfry
NatCom Development & Investment Ltd, operators of the Ntel 4G/VoLTE Network has announced the appointment of Mr. Babatunde Omotoba as its Managing Director /Chief Executive Officer with effect from Tuesday 7th of May 2019.
Until his appointment as the CEO, Babatunde had served for three years as a high performing non-Executive Director at ntel, serving on various committees of the Board.
Babatunde Omotoba will take over from Mr. Ernest Akinlola who recently resigned as the Managing Director / CEO.
Babatunde Omotoba is a seasoned Administrator with over 30 years of General Management, Telecoms, Transportation, Power, Aviation, Financing, Private Equity, Investment, Due Diligence, Auditing, Consulting, Construction and Structural Engineering experience.
As the Group Chief Operating Officer of Ancestral Holdings for four years, he managed various group companies in various sectors including: Telecoms, Financial Services, Construction and Transportation, Power, Real Estate; etc.
He has also executed various safety critical infrastructural projects in the aviation sector of the Nigerian economy including the Total Radar Coverage of Nigeria Airspace.
As an Investor, he structured and invested more than $200 million in over 12 projects with total transaction size in excess of $1.2 billion in the United States of America and in Nigeria.
As an Accountant, he managed due diligence reviews, and performed audits, fraud investigations, financial consulting, and diagnostic reviews; and carried out value-for-money review for the over $1 billion Nigerian Government Petroleum Trust Fund (PTF) consulting contracts.
He assisted in developing the planning and budgeting, financial reporting and assets and liabilities management programs for one of the largest banks in Nigeria.
As an Engineer, he worked as Resident Construction and Structural Engineer on several Nigerian government infrastructural projects in eight states of Nigeria and in Kubwa, Maitama and Asokoro Districts of the Federal Capital Territory.
Babatunde Omotoba has held diverse positions across various sectors: Manager in Arthur Andersen (now KPMG Professional Services), Nigeria Office; Vice President, Private Equity at Smith Whiley & Co. in the United States of America, and Head, Private Equity and Secretary to the Investment Committee of Africa Finance Corporation (“AFC”), in Nigeria before his appointment as Honourable Minister and member, Federal Executive Council, Federal Republic of Nigeria in December 2008.
He was a Member of the Governing Council of National Emergency Management Agency (“NEMA”) and National Council on Privatization (NCP). He served as a Senior Adviser to Africa Finance Corporation.
A well sought after speaker both at home and abroad, Babatunde Omotoba has a Bachelor of Engineering Degree (“B.Eng”) in Civil Engineering with “First Class Honours” from the University of Benin (Nigeria); and an MBA from the J.L. Kellogg Graduate School of Management, Northwestern University (USA), where he majored in Finance, Entrepreneurship, Management Strategy and Real Estate.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (‘FCA’); Member of the Nigerian Society of Engineers (“MNSE”) and an Associate member of Chartered Institute of Taxation of Nigeria (‘ACIT’). A holder of Series 7 and Series 63 Professional Licenses, Babatunde Omotoba is winner of 16 academic and professional prizes/awards including: three ICAN Examination Prizes (1st Prize Overall in Professional Examination One (“PEI”); 3rd Overall and Best In Quantitative Analysis in Foundation Exams), and the prestigious Merit Award of the Institute of Chartered Accountants of Nigeria (‘ICAN’).
Babatunde Omotoba started his career in 1987 as Trainee Structural Engineer with Civ-Structs Associates, Kaduna (Nigeria), where he designed and supervised various projects including Central Bank Staff Housing in Birnin Kebbi Road in Sokoto, Airforce Aeromedical Center in Zaria, Drying Tower for NNPC in Warri, Delta State; and Union Bank Office Building in Kaduna.
He is currently the Chief Operating Officer (“COO”) of Ancestral Holdings, a conglomerate with over $2 billion in investments.
News
Badaru on Operational Tour of 82 Division, other Military Installations in Enugu and Imo States
The Honourable Minister of Defence H.E Mohammed Badaru Abubakar CON mni is currently in Enugu on operational tour of 82 Division of Nigerian Army and other military platforms in Enugu.
He was received on arrival by the General officer Commanding 82 Division of the Nigerian Army / Commander JTF SE of operation Udoka Major-General H.T Dada and other senior military officers.
The Minister is expected to meet with South East stakeholders on the way forward.
Details later…
Tinubu has granted full oversight responsibilities to Ministers of State over agencies under them amongst whom are Minister of State for Defence Dr. Bello Matawalle, Water Resources and Sanitation, Minister of State for Agriculture and others will henceforth enjoy full oversight responsibilities over such agencies.
President Bola Tinubu at FEC Meeting has approved that ministers of state be given full powers to supervise the agencies under them, the cable reported.
Until now, files pertaining to departments and agencies under their supervision were sent by their permanent secretaries to the senior ministers.
With the new dispensation, ministers of state can now grant all necessary administrative approvals on the governance process of these agencies and departments.
According to a source in the office of the head of service of the federation, “the president was not pleased with the prevailing governing framework in which ministers of states were just ministers in name”.
This, Tinubu reportedly said, led to the “underutilisation of the expertise and capabilities” of most ministers of state.
“The president believes ministers of state should have the right to make decisions and direct action within their areas of responsibility,” the official added.
According to the Cable report, the source said the idea, first mooted by Hadiza Bala Usman, special adviser to the President on policy coordination and head, central delivery coordination unit got an instant buy-in from the President.
With the new directive, the administration hopes “to unleash” the potential of all the ministers, the source added.
News
Enugu: Mbah Approves N80,000 Minimum Wage for State, LG Workers and Primary School Teachers
…It’s unprecedented to earn above minimum wage in Enugu- Labour
… We’ll commence implementation immediately- ALGON
Governor of Enugu State, Dr. Peter Mbah, has approved N80,000 minimum wage for the state’s work force, including local government workers, effective October 2024, noting a direct link between a motivated workforce and his administration’s vision of growing the state’s economy from $4.4bn to $30bn.
The new minimum wage covers all state employees, primary school teachers, and local government workers.
Organised labour has described the wage as unprecedented, as it was the first time that Enugu workers would be earning above the national minimum wage.
Mbah announced the new minimum wage on Thursday after a meeting with the Enugu State Minimum Wage Implementation Committee headed by the Head of Service, Kenneth Ugwu and labour leaders, including the state’s labour leaders.
Mbah said, “Few weeks ago, I inaugurated a committee with the responsibility to oversee the implementation of the New National Minimum Wage in Enugu State. Today, I’m happy to announce a new minimum wage for workers in Enugu State, reflecting our fidelity to their welfare, in regard of which we have been resolutely committed.
“We have approved the sum of N80,000 as the new minimum wage in Enugu State. This underscores our commitment to bequeathing lasting legacies of improved living conditions.
“Our commitment to improved workers’ welfare runs deep, and is rooted in the firm understanding of the inextricable link between an inspired workforce and the audacious economic targets we had set our sights on.
“We clearly understood that reducing poverty to the barest minimum and achieving an unprecedented economic growth target were contingent on the output of the workforce. Therefore, for us, the best way to acknowledge that labour creates wealth is by ensuring that the workforce, which creates the wealth that oils the wheel of government, is sufficiently motivated.
“We have similarly demonstrated our commitment to workers welfare through the consistent payment of the wage awards, a gesture we had pledged to sustain until a new wage structure took effect.”
Speaking, the Chairman of the Enugu State chapter of the Nigeria Labour Congress, NLC, Comrade Fabian Nwigbo, thanked governor Mbah for always prioritising the welfare of workers, describing the new minimum wage as “a great one for Enugu workers.”
“In the past, when minimum wage is announced, it takes up to one or two years for anything to happen; and when it did, we took anything they gave us as we saw it. But today, you have even given us something much higher than national minimum wage.
“But I am not totally surprised because when other governors were paying N12,000 wage award, you were paying us N25,000. When others paid for some months and stopped, you continued paying it until the new minium wage as you promised. So, we have enjoyed wage award for 11 months and today you announced the minimum wage which is the first of its kind since my 32 years in service,” said.
Speaking to Government House correspondents, the Chairman of the Enugu State chapter of the Trade Union Congress, TUC, Comrade Ben Asogwa, said, “We are so happy. The governor did not just announce ₦80,000 minium wage, but said that it cascades down to even local government workers. He said that he does not want disparity in salary implementation in Enugu State anymore because we all go to the same market.
“This is the first time in history we are seeing the implementation of minimum wage above the approved amount by the federal government. Actually, when we entered into the negotiation, we were afraid because we know quite well that we are not among the states that share in dividends of oil money. We know quite well that we are at the back when it comes to federal allocation, but His Excellency actually surprised us.
“One thing we have seen is that he understands the impact of motivation on productivity. The governor has set a pace and we know that any other person coming after him will have the challenge to meet up with the target set by His Excellency, Governor Peter Mbah.”
On his part, Chairman of the Association of Local Government Workers, ALGON, Enugu State, Hon. Okechukwu Edeh, pledged the commitment of council chairmen to implementing the new minimum wage.
“When you motivate workers, they become more productive. What I am promising on behalf of the Enugu ALGON family is that we are going to cascade the new minimum wage to the local government level. Implementation begins immediately,” he said.
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