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AABLA Names Zenith Bank’s Adam As CFO of the Year

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The All Africa Business Leaders Awards (AABLA) in partnership with CNBC Africa, has named the Chief Financial Officer of Zenith Bank Plc, Dr. Mukhtar Adam, as the ‘Chief Financial Officer of the Year’.

The award ceremony, the 11th in the series, took place at the King’s Ballroom, Sun City, South Africa, on Friday. This places Dr. Mukhtar on the same pedestal with other celebrated professionals across Africa.

Expressing his gratitude for the recognition, Dr. Mukhtar thanked the judges and organisers of the award, expressing his appreciation for being deemed a fitting recipient of the ‘Chief Financial Officer of the Year’ for 2023. He dedicated the award to the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR. Additionally, he expressed his gratitude to the management of Zenith Bank, his colleagues in Nigeria and the bank’s subsidiaries for fostering a positive work environment. Dr. Mukhtar also extended his thanks to the bank’s many customers.

The All Africa Business Leaders Awards (AABLA), in partnership with CNBC Africa, represents Africa’s largest single-business awards, celebrating the pinnacle of African business achievement. The AABLA has consistently narrated an African story of perseverance, success, innovation, and accountability. It has become synonymous with recognising the finest in business leadership on the African continent.

Dr. Mukhtar Adam is a distinguished finance professional with over two decades of cognate experience. He holds a Doctor of Philosophy degree in Finance from Leeds Beckett University, an M.Sc. in Finance – Financial Sector Management from the University of London’s School of Oriental and African Studies, an MBA in Finance from the University of Leicester, and a B.Ed. in Social Sciences, specialising in Economics and Management, from the University of Cape Coast in Ghana.

Dr. Mukhtar Adam also holds a Diploma in International Financial Reporting Standards (IFRS) from the esteemed Institute of Chartered Accountants in England and Wales (ICAEW) and a Postgraduate Diploma in Islamic Banking and Insurance from the Institute of Islamic Banking and Insurance in the UK.

Dr. Mukhtar Adam has participated in several executive programmes at world-leading institutions, including the General Management Program (GMP) at Wharton Business School in the USA, Harvard Business School, INSEAD Business School in Paris, the London School of Economics and Political Science, and the Massachusetts Institute of Technology. He is a member of the Institute of Chartered Accountants of Nigeria (ICAN), the Institute of Chartered Accountants of Ghana (ICAG), and the Chartered Institute of Taxation of Nigeria (CITN).

Prior to his current role as the Chief Financial Officer (CFO) of Zenith Bank Plc, Dr. Mukhtar Adam served as the bank’s Deputy CFO, leading the Financial Reporting, Tax Management and Strategic Planning Groups and supervising the Zenith Group’s entire financial reporting function. Before joining Zenith Bank in 2007, he honed his skills as a Senior Consultant in the Financial Services Group of PricewaterhouseCoopers (PwC).

His vast expertise spans numerous financial areas, from financial sector management and policy analysis to financial reporting and analysis, tax management, audit management, strategy development and execution, enterprise risk management, credit risk management, and financial advisory. He is also accomplished in capacity building and training. Dr. Mukhtar Adam is a prolific researcher with several professional and academic publications.

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Personality in Focus

Former Delta State Gov Emmanuel Uduaghan Dies at 71

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A former Governor of Delta State, Dr. Emmanuel Uduaghan is dead.

He died after a brief illness at the age of 71.

The Uduaghan family announced his death in a statement signed by Toju Andre Uduaghan, on Monday.

The statement, titled, ‘ANNOUNCEMENT OF THE PASSING OF HIS EXCELLENCY, DR. CHIEF EMMANUEL EWETA UDUAGHAN’, read:

“It is with hearts weighed down by immeasurable grief and profound sorrow that we announce the passing to glory of our beloved Father, Brother, Uncle, and Patriarch, His Excellency, Dr. Chief Emmanuel Eweta Uduaghan, former Governor of Delta State, who departed this world on the morning of 19th October 2026.

“His passing has left us devastated. Words can hardly express the depth of our sorrow at the loss of a man who meant so much to our family and whose life and service touched countless others across Delta State and Nigeria.

“He was a source of strength, a father figure, a beloved brother and uncle, and a respected elder. We will deeply miss his presence and forever cherish the memories and legacy he leaves behind.

“He served as Commissioner for Health from 1999 to 2003, Secretary to the Delta State Government from 2003 to 2007, and Governor of Delta State from 2007 to 2015. Throughout his years in public service, he demonstrated a commitment to the human and infrastructural development of Delta State.

“His passing is a profound loss to our family, the people of Delta State, and Nigeria at large. We are grateful to Almighty God for his life, his service, and the legacy he leaves behind.

“We pray that Almighty God, in His infinite mercy, will grant his soul eternal rest and comfort our family, friends, associates, former colleagues, and all who mourn this painful loss.

“Rest well, our beloved Father, Brother, and Uncle. Your memory will forever remain in our hearts, and your legacy will endure in the lives of those you touched.

“May your gentle soul rest in perfect peace. Amen.”

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Ofala Festival: Igwe Achebe Applauds Globacom’s Enduring Cultural Partnership

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The Obi of Onitsha, His Majesty Igwe Alfred Nnaemeka Achebe, has commended Globacom for its unwavering commitment to the preservation and promotion of Nigeria’s cultural heritage, noting that the telecommunications company’s sustained support has helped transform the Ofala Festival into a world-renowned cultural celebration.

Speaking on the 2026 edition of the festival, held at Ime Obi, Onitsha, Anambra State, on Friday, the monarch paid a glowing tribute to Globacom for its longstanding role as the principal sponsor of the festival, a partnership that has spanned fifteen consecutive years since 2011.

According to the monarch, “Their partnership has transformed the festival from a palace ritual to a world-renowned cultural festival owes a great deal to purposeful partnership. Since 2011, Globacom has stood with us as our principal partner – now fifteen consecutive years of unwavering commitment.” He added that “In good times and challenging times, Globacom has helped us preserve the authenticity of Ofala while enhancing its presentation, documentation, broadcast and global reach. They have helped take a living heritage to the global stage”.

Igwe Achebe also applauded the vision of Globacom’s Chairman, Dr Mike Adenuga Jr., whose commitment to cultural preservation, he noted, reflects a profound appreciation of the role of indigenous traditions in strengthening national identity and social cohesion.

“I thank Globacom and its Chairman, Otunba (Dr) Mike Adenuga Jr., GCON, a true man of culture, for his vision and belief that culture is not a luxury but a foundation for unity,” the monarch said.

Commenting on the theme of this year’s festival, “Igba Mbo, Iga N’Iru” — Strive and Advance — Igwe Achebe described it as a compelling call to diligence, excellence, self-improvement and collective progress. He explained that the theme embodied the enduring spirit of the forebears who built the Onitsha kingdom on the banks of the Niger, while challenging younger generations to preserve that legacy through enterprise, purposeful endeavour and a commitment to progress.

In his goodwill message to the monarch and the people of Onitsha, Dr Adenuga described Globacom’s association with the Ofala Festival “since 2011 has been much more than a corporate partnership. It has been a relationship which we cherish deeply and regard as a privilege”. He expressed profound appreciation to Igwe Achebe for the opportunity afforded Globacom to contribute to the preservation, celebration and wider projection of the community’s priceless cultural heritage.

He noted that the annual festival provides a valuable platform for showcasing the rich cultural traditions, dignity and enduring values of the Onitsha people to audiences across Nigeria, Africa and the wider world.

Through its longstanding partnership with Ofala, Globacom continues to demonstrate that corporate citizenship extends beyond commercial enterprise to the preservation of the cultural foundations that give communities their identity, strengthen their unity and connect generations.

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Kardinal Takes Africa’s Business Travel Story to ECOWAS Startup Awards

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Kardinal Business Travel, a travel technology company with African and global focus, was among 60 startups that pitched at the 2nd edition of the Economic Community of West African States (ECOWAS) Startup Awards, held at the ECOWAS Commission headquarters in Abuja recently.

The company’s Chief Executive Officer and Founder, Cornelius Ugwunwa, presented the company’s case at the three-day event. The awards was part of an ECOWAS initiative to help West African businesses and startups scale through digital transformation, regional integration and sustainable value chains, with the aim of widening access to global markets.

Temitope Kareem, founder of Nigerian healthtech firm HubPharm Africa, won the top prize of $30,000. Senegal’s Gaynako took home $20,000 as first runner-up, while Steve Bah Blesson’s MyOpinion from Côte d’Ivoire won $15,000 as second runner-up.

Speaking during his pitch, Ugwunwa said Africa needs a new system for business travel. He cited a market with $75 billion in inbound travel spending and a strong business travel component in 2025, while travel and tourism as a whole contributed $228 billion to the regional economy.

“When a company sends its employees across Africa for a business engagement, we at Kardinal noticed the challenges of countless inboxes, spreadsheets and emails, mostly after the trip.

Businesses keep asking: How much did we spend? Who did we spend it on? Was it above or below budget? Can we reconcile everything on one platform?” he said.

He described African business travel as a $30 billion market that is largely fragmented and overly dependent on manual processes.

According to him, many businesses lose over $1 billion to manual travel processing and cannot track spending in real time. “That is why Kardinal exists: to solve this entrenched problem,” he said.

Ugwunwa said GoKardinal is an artificial intelligence-driven platform built to track expenses for African businesses. It brings the entire business travel lifecycle (planning, budgeting, booking, financing and expense tracking) onto one platform, in real time.

“GoKardinal is not another travel platform. It is an infrastructure for business travel, powered by AI for expense management,” he said, adding that the idea is to help businesses move without delay from one location to another to do their best work, expand and make profit.

On the company’s performance, he said the platform serves over 51 businesses in Nigeria and across Africa, with estimated weekly profit of $10,000 and gross merchandise value of over $1 million, growing at 65 per cent annually. he added.

He noted that about 80 per cent of African businesses still run their business travel manually, without any form of expense tracking, in a market worth over $30 billion annually. “African business travel is not just travelling for the fun of it.

It is an ecosystem with the potential to generate over $70 billion when digitalised,” Ugwunwa said.

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