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 Nairametrics 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.
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.
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.
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.
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.’’
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).
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.
Also approved is reconstitution of the Non-Executive Board of the NPA, with Mr Emmanuel Olajide Adesoye (South-west zone) as Chairman.
— Presidency Nigeria (@NGRPresident) January 21, 2021
Lekoil appoints Michael Ajuku as Chairman
Lekoil has announced the appointment of Micheal Ajukwu as the company’s Chairman.
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.
Buhari names Dr. Uzoma Emenike as Ambassador-designate to the USA
President Buhari has named Nigeria’s Ambassador-designate to the USA.
President Muhammadu Buhari has announced Dr. Uzoma Emenike as Nigeria’s Ambassador-designate to the USA.
This was disclosed by the Special Assistant to the President on Digital and New Media, Tolu Ogunlesi in a social media post on Tuesday evening.
Dr. Uzoma Emenike is currently Nigeria’s Ambassador to Ireland, with concurrent accreditation to Iceland.
She hails from Abia State, with a BSc in Sociology and Anthropology from the University of Maiduguri, Masters in International Law and Diplomacy from the University of Lagos LL.B from the University of Reading in the UK.
Other academic achievements include a Master’s in International Management from the University of Reading and a Doctorate in International Relations also from the University of Reading.
She is married to Chief Ikechi Emenike and has four children.
What you should know
- Nairametrics reported last month, the death of the outgoing Nigerian Ambassador to the United States of America, Justice Sylvanus Adiewere Nsofor.
- He served as a justice of the Court of Appeal for 13 years until his mandatory retirement in 2005.
- Nsofor, who assumed office as the ambassador to the US on November 13, 2017, succeeded Professor Adebowale Adefuye who also died towards the end of his tenure.