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Morakinyo steps in as new NPF Pensions CEO, Bokki bows out
Kolade Morakinyo, until now, Chief Risk Officer of the company, has been named the managing director and chief executive officer of Nigeria Police Force Pensions Limited, after the end of the maximum two-term, five-year apiece tenure of Hamza Sule Wuro Bokki, pioneer Chief Executive Officer (CEO) on Thursday, February 29.
The appointment of Morakinyo, said to be an accomplished risk management expert, with several years of cognate experience in the financial sector, is said to be the first leadership change in NPF Pensions Limited, one of the 22 licensed Pension Fund Administrators (PFAs) in Nigeria.
At the handover ceremony presided over by the chairman of the Board of Directors, Suleiman Abba, the 17th Inspector General of Police (IGP), Bokki presented his successor an executive summary of the organisation which he explained “provides a comprehensive overview of the management handover process at NPF Pensions Ltd, highlighting essential information for seamless transitions and operational excellence.”
Bokki, who was quoted as saying that the organisation had made tremendous strides since it obtained operating license in 2014, narrated how the PFA which faced resistance from other operators, reluctance from clients, limited funding and only received the first transfer of assets in December 2014, “has grown from being ranked 22nd in Assets Under Management (AUM) to one of the top five in the industry, with AUM currently standing at N1.3 trillion.”
“The company achieved the highest investment income returns for clients in 2022, 2023, and January 2024; paid progressive dividends to shareholders since the second year of operations; was the first PFA to build a custom-made head office, and received a nomination for product innovation at the World Pension Summit,” he said.
Enjoining all to rally round Morakinyo, Bokki reminded his successor that though NPF Pensions has made significant progress, the company is in a strong position to grow even more “if the new leadership stays compliant, focusing on customer service, engaging stakeholders, investing in personnel development, and maintaining a harmonious leadership structure.”
Abba, who was the IGP when the NPF Pensions got its operational licence in 2014, said the company has made a giant leap in ten years and attributed the success to the leadership style of the outgone chief executive, adding: “We are witnessing a historic occasion here today with a lot of mixed feelings. The organisation is losing someone that everyone recognises as a good man.
“I was the IGP when this company got license. I didn’t even know back then that we will be where we are today. The pioneer MD is a great visionary leader and achiever, who guided NPF Pensions from its crawling stage to stand strongly on its feet.
“He led the company to compete effectively with its peers and in most instances, came out tops. Today, we are the undisputed leaders in Funds 1, 2, 3 and 4. And one of the reasons for this huge success is his effective communication skill.”
Abba, while congratulating the new MD on his appointment, also thanked his predecessor, on behalf of the Board and investors, imploring him not to stay too far away from the organisation, stressing: “If there is any reason to call you to assist in the future, we will do that and I hope you will oblige us.”
Nicholas Nneji, Executive Director Investment, who also thanked Dr Bokki for his immeasurable contributions to the growth of the company, said: “Bokki is an institution, a leader per excellence. Nobody passes through him without learning one or two things. He is a man of vision, empathy and very humble. We will all miss him.”
Morakinyo, whose risk department detects, controls and mitigates potential risks that might have been identified for the effective and efficient management of the company and its funds under management promised to deploy his wealth of experience in ensuring that NPF Pensions Limited, under his watch, excels beyond the expectations of all stakeholders.
Hours after Mohammed Hayatu-Deen did, Chibuike Rotimi Amaechi, on Tuesday, also flatly rejected the outcome of the presidential primaries, of the African Democratic Congress, alleging widespread voter disenfranchisement and electoral malpractice.
Amaechi former Minister of Transportation and former Governor of Rivers State, described the announced results as “concocted,” insisting that the process failed to meet the standards of transparency and fairness earlier promised by the party.
He said in a statement: “I unequivocally reject the concocted results being announced,” Amaechi stated.
He said he had previously maintained that he would only accept the outcome of the primaries if the process was free, fair and transparent, stressing that the exercise did not reflect the democratic values the ADC claimed to represent.
“I will not accept results from a process that does not reflect the values that the ADC had pledged to uphold, to rescue Nigerians from the impunity and gross mismanagement that our country is currently facing in the hands of the ruling party,” he said.
Amaechi alleged that a significant number of party members were denied the opportunity to vote during the exercise.
“There’s no way that about eighty percent of members of the party were not allowed to vote, and you expect me to accept such results,” he stated.
The former Rivers State governor questioned the moral basis of the ADC criticising the ruling All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) over alleged electoral malpractice while allegedly engaging in similar conduct internally.
“A party that criticizes the ruling APC and INEC for vote buying, rigging and writing of results, cannot be engaged in vote buying, writing of results, and other electoral malpractices that leads to the disenfranchisement of voters who are party members. This is not acceptable!” he declared.
Amaechi said the ADC was envisioned as a platform to amplify the voices of ordinary Nigerians and provide credible political alternatives irrespective of ethnicity, religion or social background.
His rejection of the outcome is expected to deepen tensions within the opposition party following the conclusion of its presidential primary election.
“These timeless virtues of devotion, selflessness, and submission to divine will are values our nation desperately needs today,” were the exact words with which Godswill Akpabio, attempted to rouse Nigerians to the ethos of unquestionable faith and service to the country.
Akpabio, Chairman of the National Assembly, who drew example from Prophet Ibrahim, admonished Nigerians to emulate his unwavering faith, obedience, and willingness to sacrifice for the sake of Almighty Allah.
The Senate President, who conveyed his sentiments via a statement by Eseme Eyiboh, also used the specifically hail President Bola Ahmed Tinubu, his vice, Kashim Shettima and Muslim faithful in Nigeria and around the world as they celebrate Eid El Kabir.
Stressing that the occasion called for prayer and sober reflection on the theme of sacrifice, he added: “This sacred occasion reminds us of Prophet Ibrahim’s unwavering faith, obedience, and willingness to sacrifice for the sake of Almighty Allah.
“To our dear President, Commander-in-Chief of the Armed Forces of Nigeria, Asiwaju Bola Ahmed Tinubu, his vice, Senator Kashim Shettima and Muslim brothers and sisters, I felicitate with them on behalf of my family, constituents and the Senate on this blessed Eid. May the lessons of sacrifice, compassion, and generosity that define this season strengthen your faith and bring peace to your homes.
“As you share with the less privileged and extend love to neighbours of all faiths, you embody the true spirit of Nigeria. To all Nigerians, I urge us to use this solemn period to pray fervently for peace, security, and prosperity in our land. Let us pray for our troops in the frontlines, for farmers to return safely to their fields, and for unity to prevail over division in our Nation.
“Eid El Kabir also calls us to deep reflection on the future of our country. Just as Prophet Ibrahim was tested, Nigeria is in a season of testing. The sacrifices we make today in patience, in tolerance and in choosing hope over despair will determine the Nigeria our children inherit.
“The Renewed Hope Agenda of this administration, supported by the National Assembly, is anchored on that same principle: that meaningful progress often requires collective sacrifice.
“May Almighty Allah accept your prayers and sacrifices. May He heal our land, guide our leaders, and bless the Federal Republic of Nigeria. Barka da Sallah. Eid Mubarak.”
“I will not be attending the announcement of the ADC Presidential Election Results today. I am concerned by reports from across the country of widespread vote rigging, some of which I myself observed, and will therefore be taking advice on my next steps.”
These were the exact words of Mohammed Hayatu-Deen, one of the presidential aspirants of the African Democratic Congress (ADC), with which he cast a slur on the ongoing presidential primaries of the party, hinging his position on reports of fraud trailing the exercise.
Hayatu-Deen, a second timer in the search for the nation’s number one job, ran against Atiku Abubakar, Nigeria’s former Vice President and Rotimi Chibuike Amaechi, former Minister of Transportation.
In a statement on his assessment of the exercise which began on Monday, the renowned economist Chairman of the Nigerian Economic Summit Group (NESG), used his X platform to convey his dissatisfaction with the process.
The ADC which said the collation for the exercise would take place in Abuja had urged aspirants, party leaders, delegates, and members to conduct themselves peacefully and uphold party unity.
Bolaji Abdullahi, its spokesman, who described the exercise as a defining moment for both the ADC and Nigerians seeking a credible political alternative, maintained that it remained committed to internal democracy and a transparent leadership selection process.
“The ADC remains proud to stand today as the only truly democratic party in Nigeria because it is the only political party whose choice of presidential candidate is determined through open primaries,” he said adding that the conduct of aspirants and party members during the exercise would reflect the leadership culture the ADC seeks to promote.
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