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Appointments

Heirs Holdings Appoints Dan Okeke as Group Executive Director

Mr Okeke joins Heirs Holdings following a distinguished three-decade career at the UBA.

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Pan-African investment company, Heirs Holdings this week announced the appointment of Dan Okeke as Group Executive Director.  The appointment took effect from August 01, 2020.

Mr Okeke joins following a distinguished three-decade career at the United Bank for Africa Plc (UBA), where he most recently served as an Executive Director, responsible for leading consumer, commercial and public-sector businesses.  At HH, he will be responsible for business coordination and growth across Heirs Holdings’ portfolio of pan-African investments in the power, financial services, oil and gas, hospitality, real estate, healthcare, and financial technology sectors.

Heirs Holdings is a family-owned investment company committed to improving lives and transforming Africa.  Our portfolio spans the power, oil and gas, financial services, hospitality, real estate, and healthcare sectors, operating in twenty-three countries worldwide.  Driven by the Africapitalism philosophy of the Group’s founder, Tony Elumelu, which positions the private sector as the catalyst of African growth and seeks both social and economic returns on investment, Heirs Holdings invests for the long-term, bringing strategic capital, sector expertise, a track record of business turnaround accomplishment and operational excellence to companies within its investment portfolio. Celebrating its tenth anniversary this year, Heirs Holdings has recorded consistent business success across its portfolio of investments.

Commenting on the appointment, Chairman, Heirs Holdings, Tony Elumelu, stated: “As we continue to grow in scale and complexity, Dan’s appointment demonstrates our ongoing commitment to institutionalisation.  We have always recognised the need to invest in human capital.  This announcement is a clear demonstration of our intent and determination to create sustainable value in all our business operations.”

“I am delighted to take on this new challenge and look forward to contributing towards the fulfillment of Heirs Holdings’ objective of improving lives and transforming the Continent,” Mr Okeke stated on his appointment.

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Appointments

UACN Property Development Company Plc appoints Wole Oshin as Chairman

Mr. Wole Oshin has been announced as the new Chairman of UACN Property Development Company Plc.

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Custodian Investment Plc. announces board meeting and closed period, Custodian Investment Plc. announces board meeting and closed period

Mr. Wole Oshin has been announced as the new Chairman of the Board of Directors of UACN Property Development Company Plc (UPDC).

UPDC Plc has announced the appointment of Mr. Wole Oshin as the new Chairman of the company with immediate effect, following the resignation of the former Chairman, Mr. Babatunde Kasali from the Board.

The appointment was confirmed in a letter by the company dated 27th January 2021, and available on the NSE website – corporate disclosure. The letter was signed by the company’s Secretary/Legal Adviser, Mrs. Folake Kolaro, on behalf of UPDC Plc.

The announcement noted that Mr. Wole Oshin is one of the two Non-Executive Directors appointed on the 4th of January 2021.

What you should know

  • Wole Oshin is the Managing Director of Custodian Investment Plc. Mr. Oshin sits on several Boards including the International Insurance Society [IIS], New York and Nigerian Insurers Association. He is also an Advisory Board Member of the Common Wealth Enterprise and Investment Council (United Kingdom).
  • UPDC is the largest real estate platform listed on The Nigerian Stock Exchange. The Company has been involved in property acquisition, development, sales and management of quality and affordable residential, commercial, and retail properties in Nigeria for over 20 years.
  • In 2020, Custodian Investment PLC acquired 51% of UPDC’s issued share capital from UAC of Nigeria PLC and is now the Company’s largest shareholder.

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Appointments

International Energy Insurance appoints Ebunolu Ayeni as acting MD/CEO

International Energy Insurance Plc announces the appointment of Ebunolu Ayeni as acting Managing Director/CEO.

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Insurance in Nigeria, FBN Holdings Annual general Meeting, FBN General Insurance Limited CEO Bode Opadokun, FBN General Insurance Limited 2018 financial result

International Energy Insurance has announced the appointment of Mr Ebunolu Ayeni as the new acting Managing Director of the firm, following the retirement of his predecessor, Mr Peter Irene.

This is according to a disclosure signed by the firm’s secretary, Adeyinka Hassan and sent to the Nigerian Stock Exchange, as seen by Nairametrics.

The appointment of Mr Ebunolu Ayeni is sequel to the resignation of Mr Peter Irene, who until his resignation on December 20, 2020, was the Managing Director/ CEO of the firm. According to the notification, Mr Ayeni has immediately taken over the leadership of management in an acting capacity, in order to fill the void, pending the approval of the National Insurance Commission for the appointment of a substantive Managing Director.

Mr Ayeni is an alumnus of the University of Lagos, where he obtained a BSc. Degree in Insurance. He also has a Master’s degree in Marketing and Management from Ladoke Akintola University and Enugu State University respectively.

In terms of professional membership, Mr Ayeni is a fellow of the Insurance Institute of Nigeria, a member of Nigeria Council of Registered Insurance Brokers and the Institute of Loans and Risk management, Nigeria.

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What you should know

  • International Energy Insurance Plc provides insurance solutions to the energy sector. The company’s scope include; oil and gas, engineering/car, bond and finance among others.
  • International Energy Insurance Plc share price closed trading on 25th of January, 2021 at N0.38.

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Appointments

AFEX appoints Kamaldeen Raji as MD of AFEX Fair Trade Limited

Mr Kamaldeen Raji has been appointed as the Managing Director of AFEX Fair Trade Limited.

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AFEX appoints Kamaldeen Raji as Managing Director of AFEX Fair Trade Limited

Leading commodities market player, AFEX has announced the appointment of Kamaldeen Raji as the Managing Director of AFEX Fair Trade Limited (AFEX Fair Trade).

This information was contained in an exclusive disclosure sent to Nairametrics today the 25th of January 2021.

According to the information contained in the press statement, the appointment is in line with AFEX’s mandate of strengthening trade infrastructure for Nigeria’s commodities market, while providing support for smallholder farmers, who are key players in the agricultural value chain.

What they are saying

The CEO of AFEX, Ayodeji Balogun, who commented on the appointment of the New Managing Director, said:

  • “I am delighted to have Kamaldeen stepping into the leadership at AFEX as the Managing Director of AFEX Fair Trade. This is in alignment with AFEX’s five-year strategy that consolidates the best aspects of our business into business units that will deliver impressive wins in trading, financing and market system development for Africa’s commodities market.”

Kamaldeen Raji, Managing Director, AFEX Fair Trade limited said:

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  • “AFEX has delivered on its promise for a working commodities exchange model for West Africa after six years of operations in Nigeria. I am excited to join the executive leadership to contribute to our next five years as a business.”
  • “As I drive our strategy to reach one million farmers and expand our national storage capacity to 500,000 MT over the next five years, AFEX Fair Trade will build on the success of previous years.”
  • “Through AFEX Fair Trade, AFEX will continue to contribute to impact metrics that align with the United Nation’s Sustainable Development Goals (SDGs) 1, 2, 5, and 8; no poverty, zero hunger, gender equality, and decent work and economic growth.”

Kamaldeen prior to his appointment as the Managing Director of AFEX Fair Trade Limited had previously served in Commercial Manager’s capacity for AFEX. This position monitored all commercial partnerships with a focus to drive revenue activities and growth opportunities.

It is important to note that, AFEX Fair Trade is one of AFEX’s business units, responsible for commodities trading and storage, the company is charged with the task of providing extension services to farmers in a bid to boost their productivity and incomes across all segments of the agricultural value chain.

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