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Home Business News

Cement Company of Northern Nigeria appoints new Directors

Fikayo Owoeye by Fikayo Owoeye
July 31, 2018
in Business News, Company News
cement
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Cement Company of Northern Nigeria, CCNN, has announced the appointed 2 Independent and 1 Executive Director to its board effective July 12, 2018. These appointments were ratified at the 39th AGM of the Company held in Sokoto recently.
The new directors are Senator Khairat Abdulrazaq-Gwadabe as  Independent Director,      Alh. Shehu Abubakar as Independent Director, while Alh. Abbas Ahmad Gandi is appointed as a Non-Executive Director.
Profile of Senator Khairat Abdulrazaq-Gwadabe
  • She obtained a B.A in European Studies and Spanish from the University of Wolverhampton, England in 1982 and Universidad Complutense in Madrid, Spain(1981).
  • She holds an LL.B from the University of Buckingham in England (1984) and was called to the Nigerian Bar in 1986 and later obtained a Masters Degree in Law (LL.M) from the University of Lagos, Nigeria in 1992.
  • In the 1999 General Elections, she was elected as the first female Senator from Northern Nigeria and the only Senator representing Abuja, the Federal Capital Territory (FCT).
  • While in the Senate she Chaired the Committees on Women Affairs and Youth Development; The Federal Capital Territory, and Primary Health and HIV/Aids.
Profile of Alh. Shehu Abubakar
  • Shehu Abubakar Holds a B.Sc. (Business Management) from Usman Danfodio University, Sokoto in 1984 and an MBA from Ahmadu Bello University, Zaria in 2011.
  • Alhaji Abubakar had an extensive working career in the Banking Industry from 1987 to 2017 where he retired as Executive Director of Keystone Bank Limited after putting in about 29 years in the Industry.
  • He was also at different times a Director on the Boards Global Bank of Liberia and KBL Health Care Limited.
  • Alhaji Shehu Abubakar has attended many courses in the course of his career within and outside Nigeria at the Lagos Business School, Harvard Business School, Columbia Business School and Wharton Business School among others.

Profile of Alh. Abbas Ahmad Gandi

  • Ahmad Gandi qualified as a Chartered Secretary from Chelmer Institute of Higher Education Chelmsford, England (now Anglia Ruskin University) in 1974.
  • He had an extensive working career that spanned over two decades and retired as Director General (Permanent Secretary) in the Sokoto State Civil Service.
  • Alhaji Abbas was elected as a member of Constituent Assembly for the 1989 Constitution of the Federal Republic of Nigeria.
  • On his return from the  Constituent Assembly, he was appointed as Sole administrator/Chairman of Yabo Local Government Council in Sokoto State.
  • Alhaji Abbas attended so many courses at the Nigerian Institute of Management and the Administrative Staff College of Nigeria.
  • Currently, Alhaji Abbas is a member of the Governing Board of the Administrative Staff College of Nigeria, Badagry Lagos.

The cement company recently announced a planned merger with Kalambaina Cement in Sokoto State. CCNN currently own a Sokoto Cement Plant that boasts of 500,000 metric tonnes per annum and BUA also owns Kalambaina Cement Plant in Sokoto state with a production capacity of 1.5 million metric tonnes per annum.

As part of the proposed merger, the shares of CCNN will be issued and alloted to all shareholders of Kalambaina Cement, subsidiary of BUA Cement, in exchange for their shares in Kalambaina Cement at an agreed ratio based on CCNN’s 30-day volume weighted average closing price (VWAP) to June 22, 2018 of N25.99 per share.

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This means each shareholder in Kalambaina Cement will be entitled to 19,811,372 new ordinary shares of CCNN for every 100,000 shares of Kalambaina Cement.

CCNN stocks are traded at N30.0 on the floor of the NSE, with a one-year return of 277.46%.


Follow us for Breaking News and Market Intelligence.
Tags: Abbas Ahmad GandiCCNNKalambaina Cement PlantKhairat Abdulrazaq-GwadabeShehu Abubakar
Fikayo Owoeye

Fikayo Owoeye

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via fikayo.owoeye@nairametrics.com

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