Sync Finance Company Limited Announces Appointment of Paul Onwuanibe as Board Chairman
BREAKING NEWS Sync Finance Company Limited Announces Appointment of Paul Onwuanibe as Board Chairman Sync Finance Company Limited is pleased to announce the appointment of Mr. Paul Onwuanibe as Chairman of its Board of Directors, following the receipt of a No-Objection from the Central Bank of Nigeria (CBN). The appointment, approved by the Board of Directors, took effect on October 1, 2026. Mr. Onwuanibe is an accomplished entrepreneur and business leader with extensive experience in strategic leadership, investment, real estate, hospitality, and enterprise development. He is the Founder and Chief Executive of Landmark Africa Group, known for its development of Landmark Centre and Landmark Beach Resort in Victoria Island, Lagos. His wealth of experience in building and scaling businesses in Nigeria and internationally will contribute to strengthening the Company’s corporate governance, strategic direction, and long-term growth objectives. Mr. Onwuanibe holds an MSc in Architecture, Environmental Design and Planning, as well as an MSc in Construction Management. Commenting on his appointment, Mr. Onwuanibe said: “I am honoured to take on the role of Chairman at Sync Finance Company Limited. The Company has built a strong foundation, and I look forward to working with the Board, Management and Staff to strengthen its governance, deepen its services to customers, and drive sustainable growth in line with stipulated regulatory standards.” The Managing Director and Chief Executive Officer of Sync Finance Company Limited, Mr. Ikenna Imo, welcomed the appointment, stating: “We are delighted to welcome Mr. Onwuanibe as our Chairman. His track record of building enduring institutions and his deep understanding of the Nigerian business landscape will be invaluable as we pursue the next phase of our growth and continue to deliver innovative financial solutions to our customers.” The appointment marks an important step in the Company’s continued commitment to sound corporate governance, responsible leadership, and the delivery of innovative financial solutions that meet the evolving needs of its customers. Sync Finance Company Limited congratulates Mr. Paul Onwuanibe on his appointment and looks forward to the strategic leadership and experience he brings to the Board.
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CBN Reduces Monetary Policy Rate by 350 Basis Points to 23%
CBN Reduces Monetary Policy Rate by 350 Basis Points to 23% Edit widget and choose a menu The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) by 350 basis points, from 26.5% to 23%, following the 307th meeting of the Monetary Policy Committee (MPC) held in Abuja. Announced by CBN Governor Olayemi Cardoso, the adjustment represents the second rate reduction in 2026 and the largest single cut since December 2006. The decision comes amid easing inflationary pressures and improving economic indicators. Nigeria’s inflation rate declined to 15.39% in August 2026, while real GDP grew by 4.43% in the second quarter. The Purchasing Managers’ Index (PMI) also stood at 52.7, indicating continued expansion in business activity. Alongside the MPR reduction, the MPC retained the Cash Reserve Ratio (CRR) at 45% for commercial banks and 16% for merchant banks, while maintaining the 75% CRR on non-Treasury Single Account (TSA) public-sector deposits. The committee also adjusted the interest rate corridor around the MPR to +50 and -300 basis points. The CBN described the adjustment as an operational recalibration intended to improve monetary policy transmission and support its transition towards an inflation-targeting framework. The move also reflects efforts to align the policy rate more closely with prevailing money-market conditions. For financial institutions, the rate reduction could influence lending rates, deposit pricing, investment yields, liquidity conditions and overall profitability. However, the extent to which borrowing costs decline will depend on how quickly banks adjust their rates and how market conditions respond.
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