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AFC Appoints Nigerian Economist as New Executive Director

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Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has announced the appointment of Banji Fehintola as its new Executive Director of Financial Services, effective August 1. Banji brings extensive financial expertise and leadership experience to drive AFC’s strategic initiatives, further strengthening its financial position and enhancing the Corporation’s growth trajectory.

Banji succeeds Sanjeev Gupta, who will complete his term with AFC in October this year, following nine years of exceptional service. Under Sanjeev’s leadership, AFC’s Financial Services division developed robust Financial Advisory and Debt Syndication teams, achieving significant milestones for clients and the Corporation. These include a fivefold increase in borrowings from US$1.6 billion to over US$8 billion, remarkable growth of treasury assets from US$1.47 billion to US$5.29 billion, raising approximately US$1 billion in new equity capital, diversifying its shareholder base, and expanding AFC’s country membership from 13 to 43 member countries. These achievements have solidified AFC’s position as a truly pan-African institution.

With over two decades of extensive experience in global markets, financial services, and infrastructure finance across Africa, Banji Fehintola brings a wealth of expertise to his new role. He joined AFC in 2008 and rose through the ranks to become the Corporation’s pioneer Treasurer. His leadership of the funding team was instrumental in securing the Corporation’s investment-grade credit rating and raising over US$12 billion in funding through diverse sources. Banji’s strategic vision, innovation, and financial acumen propelled AFC’s Treasury team to global recognition, winning awards such as “Best Supranational Treasury & Funding Team of the Year” and accolades for several landmark transactions.

In his new position as Executive Director of Financial Services, Banji will oversee multiple functions, including Treasury & Financial Institutions, Financial Advisory, Syndications, and the newly created Capital Mobilization & Partnerships. His appointment will play a pivotal role in strengthening AFC’s commitment to unlocking pragmatic solutions for infrastructure projects that enhance local value capture and spur industrialization.

Samaila Zubairu, President and CEO of AFC, expressed gratitude for Sanjeev’s nine years of dedicated service, saying, “We are immensely grateful for Sanjeev’s significant contributions to supporting the Corporation’s growth and impact on the African continent and beyond. We are thrilled to welcome Banji as our new Executive Director of Financial Services. His deep understanding of the global financial landscape, coupled with his strong track record and institutional history with AFC, make him a valuable addition to our Board and executive team. We look forward to leveraging his capabilities to build on our success.”

Sanjeev Gupta commented, “It has been an absolute privilege to serve at Africa Finance Corporation for the past nine years. Our accomplishments together have been most satisfying, and I am confident that with the appointment of Banji Fehintola, AFC is well-positioned for continued success. I wish Banji the best as he takes on this role and contributes his expertise to furthering AFC’s mission in Africa.”

Banji has had a distinguished career in the finance industry, holding leadership roles at leading multinational financial institutions. Before joining AFC, he worked at Citibank Nigeria within the Fixed Income, Currencies, and Commodities team, and at former Arthur Andersen in the Tax and Business Advisory Division. Banji is an alumnus of Harvard Business School, and he holds a first-class degree in Economics and Master’s degrees in International Finance and International Business. He is also a Chartered Accountant, a CFA Charter holder, and sits on the Boards of several companies, including the Board of Governors of the CFA Institute.

“I am very honored to take on this new role at AFC, an institution that is very dear to my heart and at which I have spent the largest part of my career. By playing a critical role in shaping the future of Africa’s infrastructure landscape, AFC’s mission connects directly with my personal purpose and passion,” Banji said. “I look forward to building on the strong foundation that Sanjeev has laid and working with the executive management team and the Board to accelerate development impact for Africa.”

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Abuja Reports

Atoyebi Adewumi Wins 4th National Essay Competition, Beats 2,000 Contestants

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By Samson Adeyanju

Atoyebi Adewumi has emerged winner of the fourth edition of the National Essay Competition, beating more than 2,000 contestants in an intellectual contest aimed at promoting academic excellence, critical thinking and creative writing among young Nigerians.

The competition, which focused on the relevance of taxation to national development, challenged participants to examine the role of tax revenue in financing public services, stimulating economic growth and strengthening the relationship between government and citizens.

The initiative provided a platform for young Nigerians to demonstrate their writing skills, articulate informed perspectives on national issues and contribute ideas towards building a more responsible and progressive society.

Speaking after being declared winner, an elated Adewumi expressed gratitude to the convener, Foluso Sylvanus Ojo, and the organising team for providing young Nigerians with an opportunity to showcase their intellectual abilities.

“I am so glad, very, very glad, to have this privilege of emerging as the winner. I am grateful to the convener and the entire team, as well as everyone who supported this vision,” Adewumi said.

In his remarks, Ojo expressed concern over the tendency to criticise the attitudes and lifestyles of younger generations without providing adequate opportunities to nurture their talents and channel their energies towards productive pursuits.

He called on the government, corporate organisations and nongovernmental organisations to invest more in educational initiatives that promote intellectual excellence, creativity and responsible citizenship.

According to him, sustained investment in academic competitions and youth development programmes would encourage discipline, innovation and a stronger commitment to national development.

Drawing a comparison with the substantial cash prizes awarded in some reality television competitions in Nigeria, Ojo argued that students and intellectually gifted young Nigerians deserved greater recognition, financial support and encouragement.

“I believe the government should support initiatives like this because individuals need supportive hands, especially from the government. When they receive such support, they become more confident and motivated to continue their good work,” he said.

Ojo maintained that society could not continue to complain about the attitudes and lifestyles of young people without deliberately investing in programmes that encourage positive values and productive engagement.

The fourth edition of the competition also underscored the importance of tax awareness among young Nigerians, highlighting how effective taxation, transparency and accountable governance could contribute to improved infrastructure, education, healthcare and other essential public services.

Beyond celebrating the winner, the competition reinforced the need to identify, encourage and empower emerging intellectual talents capable of contributing meaningfully to Nigeria’s development.

Winner of the 5,000,000 naira

Winner of 3,000,000 naira

Winner of 2,000,000

All the participants 

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Abuja Reports

20 Finalists Begin Final Stage of National Essay Competition

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By Samson Adeyanju

Twenty finalists from across Nigeria have begun the final stage of the fourth edition of the National Essay Competition in Abuja, following an orientation session designed to prepare them for the decisive examination.

The finalists arrived in the Federal Capital Territory for a four-day, all-expenses-paid programme featuring the essay examination, institutional tours and opportunities for learning and networking.

The competition, the brainchild of Mr Foluso Ojo, is sponsored by the Nigeria Revenue Service (NRS).

Ahead of the examination, the finalists participated in an orientation session led by Professor Omotosho Borisade of Ekiti State University, who serves as the competition’s umpire.

The session familiarised participants with the competition’s rules and regulations, examination guidelines and assessment criteria, helping them understand the requirements of the final stage.

The essay examination is scheduled to begin today at 9 a.m., after which the finalists are expected to embark on institutional tours around Abuja.

The programme is designed to extend beyond the contest itself, exposing the finalists to new learning opportunities, professional connections and experiences in the nation’s capital.

The competition brings together young Nigerians to demonstrate their writing ability, knowledge, creativity and critical-thinking skills as they compete for the top honours.

With the finalists prepared for the examination, attention now turns to their performance and the eventual emergence of the competition’s champion.

 

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Pastor Ogundipe Decries Lack of Integrity Among Educated Nigerians

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By Samson Adeyanju

Pastor Alex Ogundipe, Chairman of the Governing Board of Christian Heritage International Bible College, Kubwa, Abuja, has expressed concern over the growing number of educated Nigerians who lack the character and integrity required to make meaningful contributions to society.

Ogundipe raised the concern during the matriculation ceremony of the institution’s 60 pioneer students, stressing that academic qualifications without moral discipline and upright character could undermine national development.

According to him, Nigeria has many knowledgeable and academically accomplished individuals whose inability to demonstrate integrity has negatively affected their contributions to their families, workplaces and communities.

“We have too many people in this country who are knowledgeable and wise in their own ways, but they do not have character and integrity. That affects their ability to impact their communities,” he said.

The cleric emphasised that education must go beyond the acquisition of certificates to the development of individuals who demonstrate honesty, accountability, faithfulness and commitment to serving humanity.

He explained that true integrity required consistency in personal conduct, whether at home, in the church, at work or within the larger society.

Ogundipe said the college was established not merely to impart biblical knowledge but to raise men and women whose lifestyles reflect Christian values and whose contributions would positively influence society.

He urged Christian leaders to demonstrate their faith through practical actions rather than mere religious declarations.

Speaking on Nigeria’s future, the cleric encouraged citizens to remain hopeful, pray for the country and contribute meaningfully to national peace, unity and development.

Earlier, the Rector of the institution, Pastor Samson Olukayode Aliyu, challenged the matriculating students to prioritise spiritual maturity and moral discipline alongside academic excellence.

Aliyu warned against examination malpractice, plagiarism, dishonesty and other forms of misconduct, stressing that academic certificates could demonstrate knowledge but could not substitute for good character.

“The Church does not only need gifted people; it needs godly people. We need leaders who will choose integrity over compromise, humility over pride, faithfulness over convenience and service over self-interest,” he declared.

He explained that the college offers six-month certificate programmes in theology and one-year diploma programmes in theology, leadership and prophetic studies.

One of the matriculating students, Akeem Omobolanle, who enrolled in the Diploma in Leadership programme, commended the institution’s approach to biblical education and expressed optimism that the training would strengthen his understanding of the Scriptures and prepare him for greater service in Christian ministry.

The ceremony marked the formal admission of the college’s pioneer students into its academic community.

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