• Thursday, December 07, 2023
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Standard Group of Companies announces key appointments

Standard Insurance Consultants shines at 2022 BAFI Awards

Standard Group of Companies Limited (SGCL) has announced two senior appointments in its Finance Division as part of its drive to raise efficiency and improve synergies across subsidiaries. The executives, Abdulazeez Jubril and Mukaila Oyegunmade, have since resumed their positions.

Abdulazeez Jubril steps into the newly created position of Group Chief Financial Officer (GCFO), a role in which he will oversee the company’s global finance, accounting, and compliance with a mandate to advance SGCL’s revenue diversification and growth strategy. He will report directly to the Group President.

Working closely with the Group President and Chief Operating Officer, Jubril will develop and recommend to the Board an annual operating plan and financial budget that supports SGCL’s long-term strategy. He is also charged with the creation, coordination, and evaluation of the financial controls and supporting information systems of the entire group.

He is expected to ensure that effective internal controls are in place, while keeping the Group President’s office aware of the financial position of the group.
Further, the new Group CFO will develop appropriate key performance indicators (KPIs) to monitor and drive the financial performance of SGCL at both group and subsidiary levels.

He will coordinate banking and financing activities and capital structure of the entire group, while overseeing effective tax strategies and compliance for SGCL.
Prior to his appointment, he was General Manager in SGCL’s Dubai Office.
Jubril earned a B.Sc. in Accounting from the American University of Nigeria (AUN), Yola, Adamawa State where he won academic distinctions, earning him a place on the Dean’s Honor List.

He is currently completing his professional certification from the Association of Chartered Certified Accountants (ACCA). He has attended international courses on management, strategy, business development, and leadership. He also completed a training program for senior executives at the Dubai Real Estate Institute.
In the same notice, Mukaila Oyegunmade was named to fill the position of Group Accountant (GA).

His core responsibilities will cover management of the group’s month end accounting process, preparation of monthly management reports, preparation of the Group’s consolidated financial statements, consolidation of the Group’s budget, management of the monthly variance analysis and providing commentary on the financial performance, and liaison with external auditors.

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An Accounting graduate of the prestigious Ibadan Polytechnic, Oyegunmade is an Associate member of the Institute of Chartered Accountants of Nigeria (ICAN).
Until his appointment, Oyegunmade occupied a management position at one of Nigeria’s leading risk careers where he garnered over a decade of industry experience. He brings deep expertise in credit control, treasury and asset management to the position.

Congratulating the new Group CFO and Group Accountant on their appointments, Dr. Ahmed Salawudeen, the Group President, expressed his confidence in their abilities.
“Jubril and Oyegunmade both bring impeccable track records, personal integrity and professional competence to their new roles. The selection process was stringent and very competitive.

The two of them shone at all stages. Senior finance functions are sensitive in any organisation, especially one like SGCL that is going through a strategic transition. This is why I am pleased to welcome and support them in their new roles. I have no doubt in my mind that they will bring value to their offices.”

Speaking on his promotion Jubril said, “As SGCL pursues its domestic expansion and international growth opportunities across insurance, real estate, and agriculture, I am excited by my new role. This is the first time that the group will be consolidating the financial oversight role in one position to enhance accountability, proper planning and risk management. Over the years, I have been entrusted with increasing responsibilities which have prepared me well for this important position. As in all previous rungs in my career climb, I will put in my best to take Standard Group higher.”

Commenting on his appointment, Oyegunmade said, “I thank the Board of Standard Group of Companies for reposing confidence in me at this critical phase in its growth. I am thrilled at the opportunity to work in a leader across different industries. I look forward to contributing my quota to the group’s success story.”

Standard Group of Companies Ltd. has been in operation for over 40 years. The group holds a controlling stake in Standard Insurance Consultants Limited (SICL), a top-tier national insurance/ reinsurance broker. In recent years, it diversified extensively into real estate in as part of its long-term portfolio rebalancing strategy. Signature Global Real Estate, its property arm, has established a strong presence in the United Arab Emirates with broker representation in major international cities. Its property portfolio is valued in excess of over US$100 million. The group also has interests in technology, agriculture, and pharmaceuticals.