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Chemical and Allied Products (CAP) Plc has announced key changes to its leadership team with the appointment of Mr. Jethro Iruobe as Executive Director and Mr. Olutola Bella as Company Secretary.
The appointments were disclosed in a regulatory filing submitted to the Nigerian Exchange Limited (NGX) on Wednesday and signed by the company’s Managing Director, Mr. Bolarin Okunowo.
According to the company, the appointments followed resolutions approved by the Board of Directors as part of efforts to strengthen leadership and support the company’s long-term growth objectives.
What they are saying
CAP Plc stated that Iruobe’s appointment as Executive Director will take effect from June 25, 2026.
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The company noted that, in his new role, he will play a key part in shaping and executing strategic priorities while providing executive oversight across critical business functions.
- “Mr. Jethro Iruobe has been appointed as an Executive Director of the Company with effect from June 25, 2026,” the statement said.
- “In his capacity as Executive Director, Mr. Iruobe will participate in the formulation and execution of the Company’s strategic priorities, provide executive leadership across critical functions, and contribute to the continued growth, sustainability and success of the Company.”
Iruobe currently serves as Chief Operating Officer of CAP Plc, overseeing Human Resources, Corporate Communications, Fleet Management and Commercial Excellence.
New Company Secretary appointed
The company also announced the appointment of Mr. Olutola Bella as Company Secretary, effective July 13, 2026.
Bella will succeed Mrs. Aramide Nwokediuko, who is stepping down from the role on the same date to assume a new executive position within the UAC of Nigeria Plc Group.
- “Mrs. Aramide Nwokediuko will be stepping down from her position as Company Secretary of the Company with effect from July 13, 2026, to take up a new executive role within the UAC of Nigeria Plc Group,” the statement noted.
- “Further to the above, Mr. Olutola Bella has been appointed as the Company’s new Company Secretary effective from July 13, 2026.”
The company added that Bella, who currently serves as General Counsel, will retain that role while also serving as Company Secretary. He will be responsible for advising the Board and Management on corporate governance matters and ensuring compliance with legal, regulatory and governance requirements.
More insights
Iruobe joined CAP Plc in 2019 as Head of Human Resources and subsequently rose through the ranks to become Chief Operating Officer.
He brings over 19 years of experience spanning financial services, consulting, FMCG and manufacturing. His career includes stints at KPMG, Promasidor Nigeria, Coca-Cola HBC and TGI Nigeria, after beginning his professional journey in the banking sector.
He holds a Bachelor’s degree in Mathematics and Economics from the University of Benin and a Master of Business Administration (MBA) from Manchester Business School in the United Kingdom.
Bella, meanwhile, has more than 18 years of experience providing legal and regulatory advisory services across multiple sectors.
Before joining CAP Plc, he served as Principal Adviser at DealWorks Advisory, a specialist advisory firm focused on growth-oriented African businesses.
He also held senior legal leadership positions at mobility fintech company Moove, where he served as Deputy Chief Legal Officer and General Counsel for Sub-Saharan Africa, helping to support the company’s expansion into new markets.
Earlier in his career, Bella was Head of Corporate and Investment Banking Legal at Stanbic IBTC Holdings Plc, where he advised executive management on governance, risk and transactional matters.
His legal career began at leading law firms Banwo & Ighodalo and Aluko & Oyebode. He was called to the Nigerian Bar in 2007 and holds an LLB from Obafemi Awolowo University and an LLM from the University of Cambridge.
What you should know
The leadership changes come on the back of a strong financial performance by CAP Plc in 2025.
The paints and coatings manufacturer reported a pre-tax profit of N9.1 billion for the year ended December 31, 2025, representing a 50.5% increase from the N6.06 billion recorded in 2024.
Fourth-quarter pre-tax profit rose by 84.1% year-on-year to N3.6 billion, supported by robust sales growth, increased finance income and higher other income.
For the full year, revenue climbed 23.4% to N44.8 billion, compared with N36.3 billion in the previous year, underscoring the company’s strong market performance and operational resilience.
The board said it is confident that the appointments will further strengthen CAP Plc’s leadership capacity and support its strategic growth ambitions.
