Unilever Nigeria appoints Modupe Femi-Okunbanjo as Executive Director

Unilever Nigeria Plc has appointed Mrs. Modupe Femi-Okunbanjo as an Executive Director of the company following the resignation of Mr. Ibrahim Sodipe from the Board.

The appointment was disclosed in a notification dated June 29, 2026, and signed by the Company Secretary, Peter Dada.

According to the company, Sodipe’s resignation takes effect on June 30, 2026, the same date Femi-Okunbanjo will assume her new role.

What they are saying

In the notification to the Nigerian Exchange Limited (NGX) and the investing public, Unilever Nigeria stated that its Board of Directors had approved both Sodipe’s resignation and Femi-Okunbanjo’s appointment.

• “This is to notify Nigerian Exchange Limited (NGX) and the investing public that by a resolution of the Board of Directors of Unilever Nigeria Plc, the resignation of Mr. Ibrahim Sodipe as an Executive Director of the Company with effect from 30th June 2026 was approved.
• “The Board also considered and approved the appointment of Mrs. Modupe Femi-Okunbanjo as an Executive Director of Unilever Nigeria Plc with effect from 30th June 2026,” the statement read.

The Board expressed appreciation to Sodipe for his contributions during his tenure, particularly his role in improving the company’s turnover and profitability while supporting its strategy for sustainable growth.

More insights

Femi-Okunbanjo joins the Board with more than 15 years of experience in finance, governance, risk management, and corporate strategy across the fast-moving consumer goods (FMCG) and telecommunications sectors.

• She currently serves as Financial Controller, Nigeria, and Regional Controls Lead for West Africa at Unilever Nigeria Plc, where she oversees financial governance, regulatory compliance, and enterprise risk management functions.
• According to the company, she has played a key role in strengthening ethical leadership, enhancing data-driven decision-making processes, and improving organisational resilience amid changing market conditions.

Her career has been marked by achievements in financial reporting, audit excellence, governance enhancement, and business transformation, helping organisations drive sustainable growth and long-term value creation.

Career spanning FMCG and telecom sectors

Before joining Unilever Nigeria in 2018, Femi-Okunbanjo held senior finance and control roles at UAC Nigeria Plc, Helios Towers Nigeria, and Makasa Sun Nigeria Limited.

• During her career, she has been credited with establishing control frameworks, reducing revenue leakages, driving digitisation initiatives, and strengthening financial discipline across organisations.
• She is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a member of the Chartered Institute of Management Accountants (CIMA).

Femi-Okunbanjo holds a Bachelor’s degree in Accounting from Lagos State University and an MBA in Strategy from Edinburgh Business School, United Kingdom.

What you should know

The board transition comes as Unilever Nigeria continues to deliver strong financial performance.

• The company reported a pre-tax profit of N51.7 billion for the financial year ended December 31, 2025, representing a 128.4% year-on-year increase.
• According to its audited financial statements filed with the Nigerian Exchange, revenue rose to N214.3 billion in 2025 from N149.5 billion in the previous year.
• Domestic sales remained the primary driver of growth, accounting for 98.8% of total revenue, while exports contributed the balance. The company’s Foods segment generated N127.8 billion in revenue, underscoring the strength of its local consumer franchise and market position.

The appointment of Femi-Okunbanjo is expected to further strengthen the company’s governance and financial leadership as it pursues its long-term growth strategy.