Business Economy Finance Fintech

VFD Microfinance Bank Appoints Temitope Osinubi as General Manager for Audit, Control, and Compliance

VFD Microfinance Bank, a leading institution in the Nigerian financial sector, has recently announced the appointment of Temitope Osinubi as the new General Manager for Audit, Control, and Compliance. This strategic appointment underscores the bank’s commitment to ensuring robust governance, transparency, and adherence to the highest regulatory standards as it continues to deliver on its vision of promoting financial inclusion and sustainable banking.

Temitope Osinubi joins VFD Microfinance Bank with an impressive academic and professional background. She holds a Master of Science (M.Sc.) degree in Actuarial Science from the prestigious University of Lagos, in addition to a Bachelor of Science (B.Sc.) in Mathematics from Olabisi Onabanjo University. As a Certified Internal Auditor (CIA), Temitope brings with her a wealth of experience, particularly in the areas of internal audit, compliance, and control, which are crucial to the success of any financial institution in today’s highly regulated environment.

With over a decade of experience in the banking industry, Temitope began her career at GTBank, where she swiftly distinguished herself as a diligent and dedicated leader. Her expertise spans various facets of banking, particularly in internal audit and control, where she has consistently demonstrated a passion for excellence and an unwavering commitment to regulatory compliance and operational efficiency.

Temitope has led significant initiatives throughout her career. One of her notable achievements is the development of Anti-Money Laundering (AML) risk rating parameters—a critical component in ensuring banks maintain the integrity of their financial systems and comply with global anti-money laundering standards. She has also played a pivotal role in driving process improvements across multiple functions within the institutions she has worked for, demonstrating her ability to enhance operational efficiencies while mitigating risks.

Her technical expertise extends further into regulatory compliance, where she has successfully conducted audits on various financial models, including the Expected Credit Loss (ECL) Model and the Internal Capital Adequacy Assessment Process (ICAAP). These audits are crucial to ensuring that banks not only meet regulatory requirements but also maintain financial health by accurately assessing and managing risks associated with credit losses and capital adequacy.

In addition to her day-to-day responsibilities, Temitope remains actively involved with the Global Institute of Internal Auditors (IIA), a professional body that promotes the advancement of internal auditing. Her engagement with IIA reflects her commitment to continuous professional development, ensuring that she remains at the forefront of industry trends and global best practices in audit and compliance.

Temitope’s appointment as General Manager for Audit, Control, and Compliance comes at a pivotal time for VFD Microfinance Bank, as the bank continues to expand its operations and services across Nigeria. Her extensive experience and deep understanding of the regulatory landscape position her to make an immediate and lasting impact on the bank’s audit and compliance functions.

As the financial industry evolves, VFD Microfinance Bank remains committed to upholding the highest standards of governance, risk management, and compliance. With Temitope Osinubi at the helm of the Audit, Control, and Compliance department, the bank is poised to strengthen its internal controls, enhance its risk management processes, and continue to build trust with its customers, stakeholders, and regulators.

Her appointment is not only a testament to her expertise but also to the bank’s vision of empowering talented professionals to lead the institution toward a more secure and prosperous future. Temitope’s leadership will undoubtedly play a crucial role in maintaining the bank’s reputation as a trusted and reliable financial partner, while also contributing to its long-term growth and success.

With her impressive track record and unwavering dedication, Temitope Osinubi is set to lead VFD Microfinance Bank’s Audit, Control, and Compliance division to new heights, ensuring that the bank remains a pillar of integrity and excellence in the financial industry.

VFD Microfinance Bank is a dynamic financial institution committed to providing innovative banking solutions to individuals, SMEs, and corporate organizations in Nigeria. The bank’s focus on customer satisfaction, transparency, and compliance sets it apart as a leader in the microfinance sector, driving financial inclusion and sustainable growth across the country.

Leave a Comment

Your email address will not be published.

You may also like

Business Culture Economy International Interviews

FX Volatility Risk: Why Nigerian Businesses Must Be Cautious When Borrowing in Foreign Currency

post-image

By Anayo Nwosu

In a rapidly evolving economic landscape where currency fluctuations have become the norm, Nigerian businesses are constantly weighing their financing options. One of the biggest dilemmas faced by companies is whether to borrow in foreign currency or stick to naira-denominated loans. While foreign currency loans often come with significantly lower interest rates, they carry a hidden danger—FX Volatility Risk—which has led to the downfall of many companies.

The Temptation of Foreign Currency Loans

Imagine a manufacturing company in Nigeria that wants to expand by acquiring new machinery from an overseas supplier. The cost of this machinery is $1,000,000, and the foreign supplier agrees to ship the equipment with a one-year payment plan, provided a Nigerian bank issues a confirmed letter of credit as a guarantee. The loan comes with an attractive 7% annual interest rate, much lower than naira-denominated loans, which range from 19% to 32% per annum.

At first…

Read More
Business Culture Economy Government International

Peter Obi Engages Indonesian Leaders on Governance and Economic Transformation

post-image

Nigerian public figure and presidential hopeful Peter Obi has continued his engagements in Indonesia, holding high-level discussions with key political and economic leaders to gain insights into the country’s development strategies. His visit on February 3rd and 4th included meetings with top government officials who played significant roles in Indonesia’s economic transformation under Presidents Susilo Bambang Yudhoyono and Joko Widodo.

Obi’s discussions began with Agung Laksono, a former Minister, former Coordinating Minister of the Economy, and a former member of Indonesia’s Presidential Advisory Board. Laksono provided Obi with valuable insights into the governance strategies that shaped Indonesia’s rapid development, emphasizing the importance of strategic planning, disciplined execution, and a focus on measurable progress across key sectors.No alt text provided for this image

Read More
Business Economy Government

NDPC Marks 3rd Anniversary with Team Bonding Event to Strengthen Workplace Unity

post-image

The Nigeria Data Protection Commission (NDPC) recently celebrated its third anniversary with a specially organized team bonding event aimed at fostering stronger connections among its workforce. The event, which brought together staff members in a relaxed and engaging environment, provided an opportunity for them to reflect on their collective achievements, strengthen team spirit, and reinforce the Commission’s commitment to its mandate.

Held in a lively atmosphere, the event featured a mix of recreational activities, including friendly competitions, interactive games, and team-building exercises designed to enhance collaboration. Staff members also enjoyed a variety of food, drinks, music, and dance, creating a festive mood that encouraged camaraderie and networking beyond the usual work setting.

Speaking at the event, senior officials of the NDPC highlighted the significance of teamwork in achieving the Commission’s objectives. They emphasized that fostering a strong internal culture of cooperation and mutual support is essential to maintaining efficiency in regulatory…

Read More
Business Culture Economy Society Travels Trends

Lagos Governor Speaks on Expansion of Red Line Rail Service, Receives Mixed Public Reactions

post-image

 

By ANTHONY EMEKA NWOSU

The Governor of Lagos State, Babajide Sanwo-Olu, has unveiled a significant enhancement to the Lagos Rail Mass Transit (LRMT) Red Line as part of the state’s ongoing efforts to revolutionize urban mobility. Effective from tomorrow, the Red Line will expand its service schedule, now offering five morning trips and four evening trips daily, an increase from the previous two morning trips. This step is aimed at improving the daily commute for residents traveling along the high-demand route from Agbado to Oyingbo.

This upgrade promises to ease the stress of navigating the city’s notorious traffic jams by reducing overall travel times. With a journey time of just 50 minutes between Agbado and Oyingbo, commuters will benefit from the convenience of waiting times as brief as two minutes at each station. The increased frequency of train services is expected to significantly enhance the efficiency and reliability of the Red…

Read More
Business Culture Economy Tourism Travels Trends

Radisson Hotel Group concludes record-breaking year with over 300 new signings and openings in 2024

post-image

Radisson Hotel Group (www.RadissonHotels.com) reported a record-breaking year in 2024 after adding almost 40,000 keys to its global brand portfolio, thereby achieving significant milestones and further strengthening its footprint around the world. Radisson Blu remained the leading upper upscale brand in Europe for the 13th consecutive year and the Group is now leading the upscale resort segment in EMEA.

VIDEO
Elie Younes, EVP & Global Chief Development Officer, walks you through Radisson Hotel Group’s 2024 Business Development highlights

 

Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, comments: “Despite global geopolitical…

Read More
Business Economy Gadgets News Security Society Software Technology Technology Trends

Zoracom Announces Strategic Collaboration with Exeon Analytics AG to Enhance Cybersecurity Resilience and Next-Gen NDR Solutions

post-image

 

Zoracom, Nigeria’s foremost Network Security Operations Center (NSOC) and leading cybersecurity firm, has unveiled a groundbreaking initiative aimed at advancing Next-Generation Network Detection & Response (NDR) capabilities and bolstering cybersecurity operational resilience. The company revealed plans for a strategic visit to its partner, Exeon Analytics AG, in Zürich, Switzerland, scheduled for 2025, as part of its commitment to innovation and excellence in the cybersecurity landscape.

In an official statement, Zoracom emphasized that this collaboration underscores its dedication to addressing the evolving challenges of cybersecurity in an increasingly digital world. The initiative is designed to not only enhance Zoracom’s service offerings but also to provide cutting-edge solutions to its growing customer base, which includes enterprises, government agencies, and organizations across various sectors.

Key Objectives of the Initiative

The strategic partnership with Exeon Analytics AG, a renowned Swiss-based leader in cybersecurity analytics, is expected to deliver significant benefits, including:

  1. Support for a Growing…
Read More
Business News

Why Every Business Needs a Website and Social Media Management – Menxtt Technology NG is the Digital Partner You Can Rely On

post-image

 

 

Imagine a customer hears about your business and wants to learn more. The first thing they do? Search for you online. If they find nothing—no website, no social media page—chances are they’ll move on to your competitor. In today’s fast-paced digital world, businesses that lack an online presence are practically invisible.

That’s why Menxtt Technology NG, a trusted IT solutions provider based in Ikeja, Lagos, is helping businesses of all sizes build strong digital footprints. From creating professional websites to managing social media pages and deploying smart business software, Menxtt ensures businesses don’t just exist online but thrive in the digital space.

According to Anthony Nwosu, a marketing consultant at Menxtt Technology NG, going digital is no longer an option—it’s a necessity.

“Think about it—when was the last time you tried a new restaurant, salon, or service without first checking them out online? Today’s customers do their research before making a decision….

Read More
Agriculture Business

John Dumelo: “Agriculture Has Given Me More Than I Ever Dreamed Of”

post-image

Acclaimed Ghanaian actor and entrepreneur John Dumelo has shed light on his decision to step away from acting, citing agriculture as a more rewarding and impactful pursuit. Dumelo, who once graced the screens in some of Ghana’s most popular films, revealed that he left the entertainment industry to focus on farming, a venture that has transformed his life in ways he never imagined.

In a candid statement, Dumelo expressed that the film industry was financially unsustainable for him, prompting him to seek a more stable and fulfilling career path. His passion for agriculture, coupled with a strong desire to fight hunger in his community, led him to invest in large-scale farming.

“The film industry was not enough to sustain me. Besides, I had a deep passion for agriculture and a desire to eliminate hunger in my community and beyond through my products. This passion led me to venture into poultry farming,…

Read More