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Appointments

CUTIX Plc announces appointment of non-executive directors

CUTIX Plc has notified stakeholders and the general public of the retirement of Board members and the appointment of new non-executive directors.

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Cutix Plc, dividend

CUTIX Plc has notified customers, the public, and other relevant stakeholders of changes in its Board room.

The announcement is sequel to the decision reached at the 37th Annual General Meeting held by the company on the 27th of November, 2020 which ratified the retirement of Barr. (Mrs). Oge Maduka and Mr. Nnamdi Ike from the Board of the company and the appointment of Mr. Ike Okonkwo, Mrs. Ijeoma Ezeasor, and Mr. Ariyo Olushekun as non-Executive Directors, effective November 27, 2020.

This is according to a recent disclosure by the firm, sent to the Nigerian Stock Exchange, and seen by Nairametrics.

In addition, the firm also announced the appointment of Mrs. Ngozi Monica Okonkwo & Co as the new external auditor of the firm, replacing ANOC Professional service who resigned during the recently concluded AGM, after serving for more than nine years.

What you should know

According to the disclosure, the breakdown of the profile of the newly appointed Directors are;

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  • Mr. Ike Okonkwo: Mr. Ike Okonkwo is a project and property, management expert. Prior to joining CUTIX Plc, he had a brief stint with firms like Adtech Limited, Keywest Property Limited, Ponsel Nigeria Limited, among others. In terms of education, he is a graduate of IMT Enugu and Federal Polytechnic Oko, where he obtained HND in marketing and accountancy respectively. He is an associate member of both the Nigerian Marketing Association and the Nigerian Institute of Management.
  • Mrs. Ijeoma Ezeasor is a Policy Analyst with technical competence in industrial and economic policy. She is currently pursuing a doctorate degree (Ph.D) at the University of Nigeria, having bagged a Bachelors’s degree in Accountancy from the same institutions and a double Masters’s of Science degree in 2008 and 2011. She is a member of various organizations and thinks thank
  • Mr. Ariyo Olushekun: An authorized dealing clerk of the Nigerian Stock Exchange and the NASD Plc and registered with the Securities and Exchange Commission. He is an alumnus of YABATECH and the University of Lagos, where he obtained an HND in Accountancy and MBA in Marketing respectively. He has participated in various executive and professional development programmes at Harvard Business School, INSEAD.

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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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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Appointments

Buhari reappoints Bala Usman as MD of NPA, reconstitutes the Board

President Buhari has approved the reappointment of Hadiza Bala Usman as the MD of the NPA for another term of 5 years.

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NPA discovers new method Apapa businessmen use to avoid port duties

President Muhammadu Buhari has approved the reappointment of Hadiza Bala Usman as the Managing Director of the Nigerian Ports Authority (NPA) for another term of 5 years.

This follows the expected expiration of the tenure of Usman, who was first appointed as the Managing Director on July 12, 2016.

This disclosure is contained in a series of tweet posts which was issued by the Presidency on its official Twitter handle on Thursday. January 21, 2021.

READ: COVID-19: NPA, NCDC disagree over new cases in Lagos

The Presidency in its statement also announced the approval of the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Olajide Adesoye (representing South-West zone) as Chairman.

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The statement from the Presidency partly reads, ‘’President Muhammadu Buhari has approved the re-appointment of Hadiza Bala Usman as Managing Director of Nigerian Ports Authority (NPA), for an additional five-year tenure.

‘’Also approved is the reconstitution of the Non-Executive Board of the NPA, with Emmanuel Adesoye (from South-west zone) as Chairman.’’

READ: Nigerian Aviation: Exchange rate, 7.5% VAT suspension and other factors to determine survival – Experts

Other members of the reconstituted Board include Ekenyem Nwafor-Orizu (representing South-east zone), Akinwunmi Ricketts (representing South-south zone), Ghazali Mijinyawa (representing North-East zone), Mustapha Dutse (representing North-West zone), and Abdulwahab Adesina (representing North-Central zone).

READ: Haulage cost increases by more than 50% in a week as Apapa gridlock bites harder

What you should know

  • Hadiza Bala Usman was born on January 2, 1976, in Zaria, Kaduna State and has a B.Sc. Business Administration from Ahmadu Bello University (ABU), Zaria and a Post Graduate in Development Studies from University of Leeds, the UK in 2009.
  • She worked at the Bureau of Public Enterprises (BPE) from July 2000 to August 2004 as Enterprise Officer and hired by the UNDP for the Federal Capital Territory Administration (FCTA) from October 2004 to January 2008 as Special Assistant to the Minister on Project Implementation.
  • Ms Bala Usman worked, between 2011 and 2015) as Director of Strategy of the Good Governance Group, a non-governmental organisation founded by Kaduna State State Governor, Nasir El-Rufai, and his friends.
  • Ms Bala Usman, one of the founders and conveners of #BringBackOurGirls, a campaign group pushing for the rescue of the abducted Chibok schoolgirls, was also a member of the Presidential Advisory Council on Anti-Corruption.
  • Prior to her appointment as the Managing Director of Nigerian Ports Authority, she was the Chief of Staff to Governor Nasir  El-Rufai of Kaduna, apposition she was appointed to in 2015.

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Appointments

Lekoil appoints Michael Ajuku as Chairman

Lekoil has announced the appointment of Micheal Ajukwu as the company’s Chairman.

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Lekoil Limited has confirmed the appointment of Mr. Micheal Ajukwu as Chairman.

This is according to a document titled, Appointment of Chairman, posted on the company’s website.

Following the resignation of Mark Simmonds, the board at a recent EGM appointed Mr. Ajukwu as Chairman with immediate effect.

What they are saying

Michael Ajukwu stated:

“I am honoured to assume the position of Chairman of LEKOIL and would like to thank my predecessor, Mark Simmonds, for his contributions to the Company.

“I look forward to working with my colleagues on the Board and the management of LEKOIL to deliver a high performing company anchored on strong governance structures that produces value for all shareholders.”

What you should know about the company and the Chairman

  • Lekoil is listed on the London Stock Exchange (AIM: LEK). The company is an oil and gas exploration and production company with a focus on Nigeria and West Africa.
  • Metallon, a private investment company that owns four gold mines in Zimbabwe, became a shareholder of Lekoil last March and now has a 15.1 per cent stake, making it the top investor.
  • Michael Ajukwu is a graduate of the University of Lagos where he obtained a degree in Finance. He also studied for his MBA in Accounting & Finance at the New York University.
  • Mr Ajukwu has served on the Board of now-defunct Bank PHB Plc. In July 2018, he was appointed to the Board of Sterling Bank Plc as an Independent Director. He also sits on the Board of MTN Nigeria Communications Plc as an Independent Non-Executive Director.

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