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Diamond Bank Appoints Babade Acting Chairman

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7 years ago

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Diamond has announced the appointment of Mr Dele Babade as its Acting Chairman.

In a notice sent to the Nigerian Stock Exchange, Diamond Bank said Babade will replace Oluseyi Bickersteth, its erstwhile chairman who resigned in October.

“We write to formally notify the Exchange that following the resignation of Oluseyi Bickersteth as Director/ Chairman of the Board, the Board of Directors of Diamond Bank Plc, has appointed Mr Dele Babade as acting Chairman effective December 24, 2018,” the notice read.

The notice which was signed by Uzoma Uja, bank’s company secretary, Diamond Bank said Babade was nominated as a non-executive director in April 2017.

Babade was appointed by First Carlyle Growth V, an investor in the bank.

Babade, a University of London trained lawyer started his career with Midland Montagu London (the predecessor of HSBC Investment Bank) on the Graduate Training Programme in 1988.

The new Diamond Bank acting chairman served as Citibank’s director & regional head Sub-Sahara Africa Corporate Finance & Investment Banking based in South Africa from 2002 to 2006 after joining the bank in 1993.

Babade currently serves as Chairman of the Africa Risk Capacity Pan African Insurance Company (ARC Ltd) and is also the Chairman of its Finance and Investment Committee. ARC Ltd is a financial affiliate of the African Risk Capacity, a specialized agency of the African Union (AU), an initiative designed to improve current responses to climate-related food security emergencies.

It will be recalled that Diamond Bank recently signed an acquisition deal with Access Bank. The deal is expected to be completed by the first quarter of 2019.

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UK Court Acquittal: Diezani Goes Spiritual, Says God Will Always Be God

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3 days ago

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June 18, 2026

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Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has reacted to her acquittal by a London court after bribery charges brought against her were dismissed.

The Southwark Crown Court in London, United Kingdom, on Wednesday acquitted the former minister of all charges, including five counts of accepting bribes and one count of conspiracy to commit bribery.

Reacting to the judgment, Alison-Madueke expressed relief and said she and her family had endured years of emotional distress over the case.

Speaking to News Central, she said she has remained in the United Kingdom since the legal proceedings began 11 years ago.

She said: “I’m just thankful to God, it’s been arduous, almost 11 years. It’s been traumatic not just for me but for my family, friends, my 93-year-old mother in Port Harcourt and for my son.

“It has been a hard journey, but I tell you this, God will always do as He will. God will be God and God is not a man that He should lie; when He promises you something, He will see it through.

“For almost 11 years I have been here. I did my job to the best of my ability.”

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I Never Saw Report that Led to Natasha’s Suspension, Says Ireti Kingibe

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3 days ago

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June 18, 2026

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The lawmaker representing the Federal Capital Territory (FCT), at the Senate, Ireti Kingibe, says she did not see any report that led to the suspension of Kogi Central Senator, Natasha  Akpoti-Uduaghan.

Kingibe made this disclosure on Wednesday when she featured in an interview on Arise Television’s ‘Prime Time’.

She said she was at a retreat with Edo North Senator, Adams Oshiomhole, when she heard about the report.

“I never saw the report that led to Natasha’s suspension. I was at a retreat. I had earlier stated that I was there with three or four other senators who are members of the committee.

“We attended the Committee on Petitions and Public Complaints, signed the attendance register, and I later left for the tax reform retreat, which I considered more important at the time.

“It affects my constituents much more than disciplining a senator, and I figured that the other people who were not part of that committee would take care of it.

“I even complained to other Senators, specifically to Senator Enyinnaya Abaribe. I complained to him very bitterly that I had not seen that report. I didn’t see it then. I have not seen it till now,” she said.

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UK Court Clears Ex-Petroleum Minister Alison-Madueke of All Corruption Charges

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4 days ago

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June 17, 2026

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Former Nigerian oil minister Diezani Alison-Madueke was on Wednesday found not guilty ​by a London jury of six bribery charges, after ‌a rare corruption trial of a high-profile former energy official.
Alison-Madueke, minister for petroleum resources between 2010 and 2015 under then-president Goodluck Jonathan, stood trial ​charged with five counts of accepting bribes and a ​charge of conspiracy to commit bribery, which she denied.
Prosecutors ⁠alleged Alison-Madueke, 65, was given “a life of luxury” in London ​from oil and gas industry figures seeking lucrative contracts in Nigeria, ​which has long grappled with mismanagement and corruption.
But the former minister, who was also briefly president of the Organization of the Petroleum Exporting Countries, ​said she never took any bribes and had no real ​influence over the awarding of lucrative government contracts.
After a trial at London’s Southwark ‌Crown ⁠Court, Alison-Madueke was acquitted by a jury of all six charges she faced after more than 46 hours of deliberation.
The not guilty verdicts are a major blow to British authorities, which began their ​investigation into corruption ​allegations against Alison-Madueke ⁠more than a decade ago.
Alison-Madueke stood trial alongside oil industry executive Olatimbo Ayinde, 54, who was ​charged with one count of bribery relating to ​Alison-Madueke ⁠and a separate count of bribery of a foreign public official.
Alison-Madueke’s brother Doye Agama, 69, was charged with conspiracy to commit bribery ⁠with ​his sister relating to payments made to ​Agama’s church.
Both Ayinde and Agama denied the charges against them and were also ​acquitted by the jury.

Source: Reuters

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