Shareholders of Anchoria Asset Management have approved the appointment of Mr. Folajimi Adeleye as the new Managing Director of the company.
The approval was obtained during the company’s Annual General Meeting on June 11, 2024.
Mr. Adeleye, who will be replacing Azubuike Emodi, served as the Executive Director of Finance at VFD Group Plc before his appointment. VFD Group currently holds a 52% stake in Anchoria Asset Management Limited.
During the AGM, the shareholders also approved the appointment of Mrs. Esther Ugwu as an Executive Director and Mr. James Umeh as a Non-Executive Director.
Mrs. Ugwu will assume the role of Executive Director of Business Development and Investor Relations.
Additionally, Mr. Azubuike Emodi, Mrs. Olufunmilayo Ayanbadejo, and Mr. Adeniyi Adenubi were re-elected as Non-Executive Directors.
About Folajimi Adeleye
An alumnus of ABU Zaria, Folajimi Adeleye worked with KPMG as a Senior Associate for almost six years, from 2008 to 2014. He then moved to One Credit Limited, where he served as the Finance Manager.
Adeleye joined VFD Group in 2018 as the Group Financial Controller. During this period, he also served as the Executive Director of Finance for VFD Tech. In 2021, he became a board member of VFD Group as the Executive Director of Finance.
He was appointed Managing Director of Anchoria Asset Management in April 2024.
About Esther Ugwu
Esther Ugwu’s career began at United Capital, where she held the position of Team Lead. She then moved to AIICO Capital, working as a Relationship Manager, before joining ChapelHill Denham as a Sales and Relationship Manager.
Prior to her appointment as an Executive Director, Mrs. Esther Ugwu served as a Senior Wealth Advisor with Anchoria Asset Management since 2022. She holds a BSc. in Chemistry from Lagos State University.
Anchoria to distribute N258 million dividends
During the company’s Annual General Meeting, shareholders approved a dividend of N0.38 per share for FY 2023, amounting to a total distribution of N258 million.
Anchoria’s dividend for FY 2023 represents a payout ratio of 15.5%, following a net income of N1.665 billion for the period. The company’s profit surged by 343%, recovering from a loss of N686 million in 2022.
Operating income for 2023 reached N9.8 billion, marking a 689% surge from the N1.24 billion reported in 2022.
In resolutions from its latest board meeting, VFD Group announced plans to establish a capital market holding group to consolidate its shares in Anchoria Asset Management, Anchoria Investment & Securities Limited, and Kairos Capital Limited.
