UPDC appoints new Directors and acting CEO, as Chairman, CEO, Directors resign
UPDC has announced the resignation of its Chairman, three Non-Executive Directors and the CEO of the Company.
UACN Property Development Company has announced the resignation of its Chairman, three Non-Executive Directors, and Chief Executive Officer.
The Company also confirmed the appointment of a new Acting Chief Executive Officer and also Non-Executive Directors to its Board, to respectively fill the position of the outgoing CEO and Directors.
This information was uncovered by Themoneymetrics in a recent notification sent to the floor of the Nigerian Stock Exchange on the 4th of January 2021, by the Company Secretary, Mrs Folake Kalaro.
According to Mrs. Kalaro, the Board of Directors of UPDC announced the resignation of its Chairman, Mr. Babatunde Kasali, other Non-Executive Directors namely; Mr Adekunle Awojobi, Professor Okon Ansa and Mrs. Awuneba Ajumogobia, and the Chief Executive Officer of the Company Mr Folasope Aiyesimoju with effect from 4th January 2021.
However, the board also confirmed the appointment of Mrs. Deborah Nicol-Omeruah as Acting Chief Executive Officer of the Company, as well as the appointment of Mr. Wole Oshin and Mr. Adeniyi Falade as Non-Executive Directors to the Company with effect from 5th January 2021.
What to expect: Sequel to the acceptance of the outgoing CEO’s resignation after completing his tenure, the Board revealed that Mr. Aiyesimoju will continue to serve as a Non-Executive Director of the Company.
What you should know about UPDC
- UPDC has been a leader in property acquisition, development, sales and management of quality and affordable residential, commercial, and retail properties in Nigeria for over 20 years.
- The Company remains the largest real estate platform listed on The Nigerian Stock Exchange.
- Custodian Investment PLC acquired 51% of UPDC’s issued share capital from UAC of Nigeria PLC and is now the Company’s largest shareholder.
United Capital Plc announces appointment of two Independent Non-Executive Directors
United Capital Plc has announced the appointment of two independent Non-Executive Directors subject to regulatory approval.
United Capital Plc has announced the appointment of Mr Dipo Fatokun and Ms Sutura Aisha Bello as independent Non-Executive Directors, effective immediately and subject to regulatory approval.
This is according to a notice signed by the firm’s Secretary, Leo Okafor, and sent to the Nigerian Stock Exchange, seen by Themoneymetrics.
What you should know
It was reported that United Capital Plc had raised N15 billion through Commercial Paper issuance, under its N20 billion programme registered with the FMDQ Securities Exchange.
- Mr. Dipo Fatokun is a veteran in the financial industry, with experience spanning over three decades. Prior to his recent appointment, he was the Director, Banking Services Department at the Central Bank of Nigeria.
- He is an alumnus of the University of Lagos and the University of Ilorin where he obtained a Master’s degree in Business Administration and a B.Sc. in Accounting respectively. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN).
- Sutura Aisha Bello is a PPP/Project Finance expert skilled in commercial, financial and project management. She has led multiple projects for the World Bank, DFID and OPEC Fund for International Development across a wide range of sectors.
What they are saying
Excerpts of the press statement reads:
- “United Capital Plc is pleased to announce the appointments of Mr. Dipo Fatokun and Ms. Sutura Aisha Bello as Independent Non-Executive Directors, effective immediately, subject to obtaining requisite regulatory approvals.”
Access Bank Plc appoints two new Directors
Access Bank Plc confirmed the appointment of an Executive Director and Non-Executive Director respectively.
Following the approval of the Central Bank of Nigeria, Access Bank Plc has confirmed the appointment of Mr. Seyi Kumapayi and Mrs. Omosalewa Fajobi as Executive Director and Non-Executive Director respectively.
This is contained in a press release signed by the bank’s secretary, Sunday Ekwochi, as seen by Themoneymetrics.
What you should know
Mr. Seyi Kumapayi was appointed as Executive Director, African Subsidiaries. He has been the Group Chief Financial Officer of Access Bank Plc since 2008. He is an expert with over 20 years’ experience in banking cutting across strategy, treasury, finance and risk management.
He also worked with other financial institutions such as First City Monument Bank Limited and Guaranty Trust Bank.
Mr. Kumapayi is an alumnus of University of Lagos and University of Ibadan, where he obtained a Master’s degree and Bachelor’s degree in Mechanical Engineering and Agricultural Engineering respectively. He also attended the prestigious Harvard Business School and completed several Executive Management Development programmes in leading institutions including INSEAD, IMD and London Business School.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and a member of the Global Association of Risk Professionals (GARP), the Chartered Institute of Taxation ofNigeria (CITN) and the Chartered Institution of Bankers of Nigeria (CIBN). He is a board member of the Ogun State Security Trust Fund.
On the other hand, Mrs. Omosalewa Fajobi has been appointed as a Non-Executive Director. She is an experienced legal luminary, and has worked in various sectors such as the financial, investment and legal services industry.
She is currently an Operating Director at Tengen Family Office Ltd. Her area of expertise includes: negotiation, business risk management and financial analysis.
Between May 2014 and June 2017, Mrs. Fajobi worked with International Finance Corporation as project lead (Nigeria) Africa Corporate Governance Programmes. She also worked as Legal Counsel at the defunct Oceanic Bank from 2006- 2010 andAccess Bank Plc from 2004-2006.
She is an alumna of the prestigious University of London and University of Lagos, where she obtained LLM Degree (Merit) with specialization in Corporate and Commercial Law and Bachelor’s degree in Law respectively. She is a member of the Nigerian Bar Association.
What they are saying
Commenting on these appointments, the bank’s Chairman, Dr. (Mrs.) Ajoritsedere Awosika, MFR said:
“We are very delighted to welcome the new appointees to the Board of Access Bank. These individuals have been chosen based on their exceptionally rich blend of professional, academic and corporate board experiences which are all relevant to the needs of our Board.
“We are strongly convinced that their skills will no doubt add significant value to our quest to become Africa’s Gateway to the World and the World’s Most Respected African Bank.”
Flour Mills appoints Juliet Anammah to the Board of Directors
Juliet Anammah has been appointed to the Board of Directors of Flour Mills of Nigeria Plc.
Nigeria’s leading integrated food business and Agro-allied group, Flour mills of Nigeria Plc has announced the appointment of Juliet Anammah, to the board of Directors.
The appointment was announced in a disclosure sent to the Nigeria Stock Exchange today.
This disclosure which was signed by the Company’s Secretary, Umolu Joseph, confirmed the appointment of Anammah, to the board of Directors effective from 10th September.
Juliet, who is the current Chair of the Board, Jumia Nigeria, and Head of Institutional Affairs across Africa brings a vast experience in the consumer product industry, along with excellent skills in product creation and high-profile brand building.
It is noteworthy that Mrs Anammah, while the CEO of Jumia led the company through a period of impressive growth, and subsequently to become the first African tech company to be listed on the New York Stock Exchange in 2019.
Speaking about the appointment, Mr John Coumantaros, Chairman of the Board says the appointment is of tremendous value to FMN, as it will help to position the group to take advantage of the changing consumer landscape in the foods and Agro-allied sectors.
“I am truly excited to welcome Juliet to the Board of Directors. Her over 28 years of executive leadership experience in business consulting and e-commerce in Africa will be of tremendous value to FMN, as we continue to position the group to take advantage of the changing consumer landscape in the foods and agro-allied sectors,” Coumantaros said.
Coumantaros emphasized that the appointment represents the Boards’ determination to ensure a diverse mix of skills and viewpoints on the FMN Board in a bid to fulfil the purpose of feeding the nation, every day.
About Mrs Juliet Anammah
Mrs Juliet Anammah has over twenty-five years of professional experience in Consumer Goods, Sales and Marketing Management Consulting and E –commerce. She started her career with Sanofi Aventis in 1991 and worked in key sales/marketing capacities until 1999, when she joined Accenture’s Strategy service line as a senior consultant.
In 2004 she launched Accenture’s Products Operating Group which covers Accenture’s consulting services for Fast Moving Consumer Goods, Retail and Transport Industries in West Africa. Juliet became a Partner in Accenture in 2013.
She is presently the Managing Director/Chief Executive Officer of Jumia Nigeria, a position she undertook in 2015 and oversaw Jumia’s transition from online Retail to a Marketplace. Jumia is an online marketplace operating in 15 African countries. Jumia’s scope covers E–commerce, Travel booking, Food ordering and Classifieds.