United African Company of Nigeria (UAC) has announced the appointment of Khalifa Adebayo Biobaku, a seasoned finance and investment expert, as the new Chairman of the Board.
This appointment is effective from February 5, 2025, succeeding Dan Agbor, who has served as UAC’s Chairman for the past nine years.
According to UAC of Nigeria’s Company Secretary/Group General Counsel, Ayomipo Wey, Biobaku previously served as a Non-Executive Director on the Board of UAC before his new role.
“The Board of Directors of UAC of Nigeria PLC (UAC or the Company) is pleased to announce the appointment of Mr. Khalifa Adebayo Biobaku as Chairman of the Board, effective February 5, 2025. Mr. Biobaku is currently a Non-Executive Director on the Board of UAC, having been appointed on March 29, 2022.
“Prior to his appointment as Chairman, Biobaku served as Vice Chairman, a position he was elected to by the Board on June 21, 2023. In his capacity as Vice Chairman, he was a member of UAC’s Risk Management Committee, Governance and Remuneration Committee, and Statutory Audit Committee, where he played a strategic role in enhancing risk management and governance, contributing to improved operating performance and key financial metrics.” The statement reads.
Experience in finance and investment
Biobaku brings twenty years of experience in finance and investment, spanning investment banking, fund management, and private equity across Europe, the Middle East, and Africa.
- He was a co-managing Partner of Blakeney Management, London, a specialist emerging markets investment firm, for almost ten years.
- His professional experience includes roles at Goldman Sachs International, London; Morgan Stanley International, London; and Davidson Kempner Partners, London. Biobaku has extensive experience in strategy development and execution, capital raising, corporate actions and restructurings, commercial negotiations, and effective team building.
He graduated with an M.Eng in Engineering, Economics, and Management from Oxford University.
What you should know
- In 2016, UAC announced the appointments of Dan Owor Agbor as Chairman of the Company and Engineer (Dr.) Okechukwu John Mbonu as a Non-Executive Director.
- This decision followed the resignations of Senator Udoma Udo Udoma and Dr. Okechukwu Enelamah from the Board, after their appointments as Ministers of the Federal Republic of Nigeria.
- Dan Agbor, aged 64, is the Managing Partner of Udo Udoma & Belo-Osagie, one of the leading commercial law firms in the country. As a seasoned lawyer, Mr. Agbor joined the firm in September 1990 and has had a distinguished career covering various fields, including banking, mergers and acquisitions, private equity, finance, tax, and laws related to foreign investment.
Prior to his role at Udo Udoma & Belo-Osagie, he served as Company Secretary/Legal Adviser at Gulf Bank of Nigeria Limited. He also worked in the Corporate Finance and Legal Departments of Citibank (formerly Nigeria International Bank Limited) and as a Solicitor at Ajumogobia, Okeke & Oyebode, a Lagos-based firm specializing in general commercial law.
