Connect with us
nairametrics

Business News

NAHCO Aviance appoints new directors and a CFO

Nigerian Aviation Handling Company Plc, has disclosed the appointments of two new directors, and a Chief Financial Officer (CFO).

Published

on

NAHCO Plc's shareholders approve dividend payment, NAHCO's 9-month results indicate 30% profit growth 

Nigerian Aviation Handling Company Plc (NAHCO Aviance) Board of Directors, has approved the appointments of Abimbola Adunola Adebakin as an Independent Non-Executive Director, Prince Saheed Lasisi as Executive Director (Business Development and Commercial), and Adeoye Emiloju as the Chief Financial Officer (CFO) of the company.

While Adebakin’s appointment took effect on Friday, April 26, 2019, Lasisi and Emiloju’s appointments will take effect from Wednesday, May 15, 2019, respectively.

Abimbola Adunola Adebakin’s profile: Abimbola Adunola Adebakin has over 29 years of professional experience spanning Stockbroking, Banking, Management Consulting, and Training. She is a versatile trainer and proficient management consultant who has led consulting teams across a broad spectrum of assignments including: strategy development, human resources management, organisational development, and change management. She has developed and delivered many training topics covering strategic management, management, and leadership development, corporate governance, entrepreneurship, and workplace productivity.

She is a certified IFC trainer on Corporate Governance and Entrepreneurship and also certified by Central Bank of Nigeria (CBN) to train microfinance bank operators.

She left as head of FITC Consulting to set up EPS Performance Improvement Limited, a firm focused on partnering with businesses and individuals to improve their performance. She also manages a business incubation centre where she offers business coaching and advisory services to start-ups and small businesses.

GTBank 728 x 90

Abimbola graduated from the University of Benin with a Second Class Upper in Biochemistry. She has a Master’s degree from the University of Ibadan and MBA from the University of Lagos. She is a member of the Learning and Development Network in Nigeria where she serves as the National Treasurer and also a member of the Association for Talent Development (ATD) in the USA.

She is passionate about working with teenagers and young people to guide them in attaining their potentials. She serves on the Board of Solid Foundation Ministry and also on the Board of 3C Connect Limited.

Prince Saheed Lasisi’s profile: Lasisi is an alumnus of the University of Lagos, where he graduated with second class honours, (upper division) in Accounting and obtained his Masters of Science Degree (also in Accounting) from the same Institution. He is a Fellow of the Institute Chartered Accountants of Nigeria. His 17 years of work experience spans a broad spectrum of the Nigerian economy.

Deal book 300 x 250
GTBank 728 x 90

He was the Group General Manager, Business Development & Strategic Planning in SIFAX GROUP (a Multinational company into Maritime, Aviation Ground Handling, Haulage & Logistics, Oil & Gas, Marine Services, Hospitality and Bonded Terminals Cargo Services). He has been in investment banking, internal and external audit, management consultancy insurance, corporate finance, supply chain management, capital market & private equity, aviation and maritime.

He had worked in Perpetual Assurance Company Ltd (now part of Standard Alliance Insurance Plc) as Financial Controller, as well as in Truebond Investments and Capital Limited as Group Head, Internal Control. He served as a director in various quoted and unquoted companies among which are: Nigerian Wire and Cable Plc, Guardian Health Care Ltd, Truebond Capital and Asset Management Ltd, Truebond Microfinance Bank Limited, Western Properties and Leisure Ltd, Golden Tophedge Investments Ltd among others.

He was a member of the transition management team of Skyway Aviation Handling Company Limited (SAHCOL), in charge of Finance, Internal Audit, Admin & Procurement when the Federal Government handed off SAHCOL to the new investor, SIFAX GROUP in December 2009.

He is actively involved in various educational and training programmes and has facilitated many seminars and training both in Nigeria and Europe, the latest of which is the Bank Risk Analysis for Regulators in the United Kingdom and Nigeria.

Adeoye Emiloju’s profile: Emiloju is a finance professional with diverse experience spanning over 32 years in Accounting and Finance management. He worked with LM Ericsson (Nigeria) Limited and Globe Reinsurance Plc before joining The Shell Petroleum Development Company of Nigeria Limited (SPDC) in 1993. He held progressive leadership positions with the company across multiple Finance and business functions at different times as Business Accountant, Head of Payroll, Senior Business Analyst, Chief Accountant, Business Finance Manager, and Finance Liaison Manager interfacing with both internal and external stakeholders including partners and government agencies.

Adeoye obtained his HND in Accountancy from Lagos State Polytechnic in 1987 and he is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He has attended various local and foreign courses in SAP, Risk & Insurance, Strategy, Commercial Contract Management, Cost Management, Personal & Business Leadership Development, among others. Adeoye is an alumnus of IMD Business School, Lausanne, Switzerland.

Fidelity ads

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Consumer Goods

Floods disrupt operations in Flour Mills’ Sugar Estate 

Heavy floods at Flour Mills’ Sunti Golden Sugar Estate has disrupted its operations.

Published

on

Flour Mills of Nigeria Plc, 2018 FY: Flour Mills’ shareholders unanimously endorse N4.92 billion dividend , FMN redeems N1 billion pledge to CACOVID relief fund, donates $1.5 million worth of medical supplies

Sunti Golden Sugar Estate (SGSE), owned by Flour Mills, has suffered some disruptions to its operations as floodwater breached the Sugar Estate. 

This information was gathered by Nairametrics from a notification sent to the Nigerian Stock Exchange and signed by the Company’s Secretary, Umolu Joseph A. O.  

The largest miller by market capitalization, explains that the floods were as a result of the long rainfalls recorded recently at the northern and central parts of the Niger basin, as the floods were triggered by severe downpours at the Sokoto Rima basin, and as a consequence, the Kainji and Jeba dams witnessed an upsurge in the lateral flow of water. 

The Management stated that SGSE has suffered some disruptions to operations, as the resulting high inflows in the downstream Niger River caused a breach to the extensive and properly designed dyke systems at Sunti Golden Sugar Estates (SGSE). 

This development is expected to delay the expansion project, geared towards increasing the area under cultivation to 4,000 hectares by mid-2021. 

GTBank 728 x 90

The Miller assures stakeholders, that there is no immediate threat to the earlier indicated earnings projections of FMN, as immediate safety protocols have been instituted to safeguard employees, property and equipment. Hence the breach is not foreseen to impact the overall performance of the Group. 

The company informs investors and other key stakeholders that the actual state of damage to the current sugarcane crop at Sunti, can only truly be assessed once the floodwater subsides, and ensures that it will release further details in due course as the need arises. 

Shares of Flour Mills at the end of the trading session on Friday closed at N21.50, and this is 6.70% higher than the market opening price for the day, 8.59% higher than the market opening price for the week, and 14.36% higher than the market opening price for the month. While the YTD gains stood at 9.14%. 

GTBank 728 x 90

Flour Mills shares are currently trading in the overbought zones, going with the agreement of Technical Momentum  Indicators, like the William Percentage Range, the Relative Strength Index and its stochastic variant, as the shares of the company are driven by strong fundamentals. 

In like manners, the company shares currently trade at 21.15x earnings per share (EPS), and 0.57x book value per share (BVPS), with a Market capitalization of N81.628 billion.  

Continue Reading

Hospitality & Travel

Aviation Unions threaten to shut airspace on Monday, as NLC insists on strike

All aviation workers are directed to withdraw their services at all aerodromes nationwide on 28th September 2020.

Published

on

Major aviation unions in Nigeria have threatened to shut the nation’s airspace in support of the Organised Labour nationwide industrial action expected to commence on Monday, September 28, 2020.

The unions are the National Union of Air Transport Employees, National Association of Aircraft Pilots and Engineers, Air Transport Services Senior Staff Association of Nigeria and the Association of Nigeria Aviation Professionals.

This was disclosed by the General Secretary of the National Union of Aviation Employees, Aba Ocheme, in a statement, according to Vanguard.

The unions reportedly asked their members to withdraw services from all aerodromes nationwide indefinitely.

He said, “As such all workers in the aviation sector are hereby directed to withdraw their services at all aerodromes nationwide as from 00hrs of 28th September 2020 until otherwise communicated by the NLC/TUC or our unions. All workers shall comply.”

GTBank 728 x 90

Meanwhile, the Nigeria Labour Congress on Friday also insisted that it will go on with its planned mass action scheduled for Monday, September 28.

In a communique by its General Secretary, Comrade Emmanuel Ugboaja, the NLC asked its members across the nation to come out in large numbers to protest the increase in fuel and electricity prices.

The order was given despite a fresh court order obtained by the Federal Government, barring the NLC and the Trade Union Congress from embarking on their planned strike scheduled to commence on Monday.

GTBank 728 x 90

Ugboaja explained that the NLC has asked all National Leadership of affiliates in Abuja to mobilise at least 2,000 of their members to Unity Fountain, Abuja for the mass rally which takes off at 7am.

Also, affiliates are expected to mobilise the same number of members to the NLC Sub-Secretariat, 29, Olajuwon Street, Yaba, Lagos, which is the take-off point for the Lagos action at 7am also.

Continue Reading

Business

It would be difficult to find loans to finance rail to Niger Republic – Cheta Nwanze

Finding loans to finance rail to the Niger Republic would be difficult, says Cheta Nwanze.

Published

on

It would be difficult to find loans to finance rail to Niger Republic- Cheta Nwanze

Cheta Nwanze, Lead Partner at socioeconomic research firm, SBM Intelligence, says that it would be difficult to find loan financiers for the proposed $1.9 billion rail project from Kano to Maradi in Niger republic.

Cheta, in an interview with Nairametrics on Friday, explained that it appears that Nigeria is more keen on the project than Niger Republic.

Back story: Nairametrics reported this week that the Federal Executive Council has approved the disbursement of $1.96 billion, for the railway line from Kano in Nigeria to Maradi in Niger Republic.

According to the report, the President is also expected to commission the Warri-Itakpe standard gauge rail line, running through Kogi, Edo, and Delta States.

“Nigeria is investing so much in this rail line, given that we are Niger’s 4th largest trading partner,” Cheta said.

GTBank 728 x 90

He added that Niger, although being landlocked already, has an existing infrastructure for its imports and export services, which is much better utilized than Nigeria’s export infrastructure.

“The majority of their imports from France, China, and the USA come in via the port of Lome, precisely because the port in Lome works, and the rail link in Togo is much better than ours.

“Nigeria, on the other hand, has let its Apapa port to become a wreck, while transportation between Lagos and Kano/Jibia is a nightmare, if we’re being charitable with words.”

GTBank 728 x 90

(READ MORE: Trade and Investments, a way out of Nigeria’s economic troubles – Fola Fagbule)

According to him, with the reality of the Apapa congestion and other factors, finding fund for such project, when debt to service ratio is high and amidst reduced oil revenue, will be difficult.

“With these realities in mind, I find it difficult to imagine who will extend such a loan to Nigeria, especially since, as far as all the information available to me indicates, Niger does not seem as keen on pushing this as Nigeria does,” he added.

However, the media aide to President Buhari, Garba Shehu, disclosed that the Federal Government is not constructing a rail line from Nigeria linking Kano-Dutse-Maradi into the Niger Republic, as it will only stop at the designated border point.

Maradi is 55km from the Katsina border Town of Jibia.

Fidelity ads

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
deals book
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement