ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL. (PHOTO). #PRESS RELEASE.

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 APC PRESIDENTIAL CAMPAIGN COUNCIL PRESS STATEMENT ATIKU MUST EXPLAIN THE LEGAL AND FISCAL BASIS OF HIS PETROL SUBSIDY PROPOSAL At his press conference in Abuja on Friday, Alhaji Atiku Abubakar reiterated his proposed  “production subsidy” for locally refined petrol, which he said would reduce pump prices. He went further to ask President Bola Tinubu to slash the cost of diesel and petrol at the pump. That proposal raises important legal, fiscal and practical questions that he must answer. Section 205(1) of the Petroleum Industry Act 2021 provides that unrestricted free-market conditions shall determine wholesale and retail prices of petroleum products. The Nigerian Midstream and Downstream Petroleum Regulatory Authority, in a statement on Saturday, explained that it neither fixes pump prices nor issues administrative price templates, except where the statutory conditions for intervention are met. The PIA provisions guide its function.  At the moment, “No such market fail...
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AIG-IMOUKHUEDE RETURNS AS CHAIRMAN OF ACCESS HOLDING. (PHOTO).

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 Aig-Imoukhuede returns as Chairman of Access Holdings Plc


Access Holdings Plc has announced the return of Aigboje Aig-Imoukhuede, as its Non-Executive Chairman, replacing Abubakar Jimoh.


The Board unanimously decided to invite Aig-Imoukhuede to lead the organization in a statement on Wednesday.


In his acceptance remarks, Aig-Imoukhuede said, “I am thrilled to be back in active service to the Access Group ecosystem. I am confident that working with our directors, our exceptional team of executives, and our best-in-class banking and finance professionals, we will deliver outstanding value to our esteemed stakeholders. I am determined that our shared vision, which Dr. Wigwe gave everything for, will be realized.”


Recall that during Aig-Imoukhuede’s tenure as Group Chief Executive Officer of Access Bank from 2002 to 2013, alongside his late partner and deputy, Dr. Herbert Wigwe, he played a pivotal role in shaping Access Bank’s trajectory.


Under their stewardship, Access Bank transformed into one of Nigeria’s top 5 banks, expanded its footprint across 9 other African countries and the United Kingdom, and grew its customer base from ten thousand to over six million.


The bank’s asset base surged to USD $12 billion, establishing itself as a globally recognized financial institution.


Since retiring as CEO in 2013, Aig-Imoukhuede has been actively involved in various ventures, including co-founding the Tengen Family Office Limited, which oversees a diverse portfolio of investments spanning banking, finance, insurance, technology, real estate, and energy. Additionally, through the Aig-Imoukhuede Foundation, he has been dedicated to nurturing Nigeria’s next generation of leaders and improving access to quality healthcare.


Aig-Imoukhuede’s return to Access Holdings as Non-Executive Chairman underscores the Board’s commitment to building upon the foundation laid by him and Dr. Wigwe. In his new role, Aig-Imoukhuede will collaborate with the Board to provide strategic guidance to the executive management team, leveraging his extensive experience and industry knowledge.


Expressing his excitement about Aig-Imoukhuede’s appointment, Abubakar Jimoh, past Chairman of Access Holdings, said, “Mr. Aig-Imoukhuede’s appointment to the Board and subsequent election as Chairman is a landmark development for Access Holdings. All our board members are excited about our future.”

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