Changes in NAHCO Shareholding Structure lead to new Board of Directors

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From left, Directors of NAHCO Plc, Sir Sunday NnamdiNwosu, Ms. Hadiza Aliko Mohammed, Idris Yakubu, Managing Director/CEO; Arc. Usman Arabi Bello, Chairman; Bello Abdullahi, Company Secretary and Director, Ahmed TijjaniUwais, at the AGM of the Company which held in Abuja … recently.

The Board of Directors of Nigerian Aviation Handling Company Plc (NACHO Aviance) wishes to announce to the shareholders, regulators and the general public that Godsmart Nigeria Limited has recently purchased 16.7% ordinary shares of the Company from some shareholders through trading on the Nigerian Stock Exchange, thereby becoming the single largest shareholder of the Company.

Following the above action, the Board went an emergency meeting to consider the resignations and appointments for the representatives of the selling shareholders, Femi Olubanwo and Christopher Oshiafi, have tendered letters of resignation from the Company’s Board and the new investor has nominated Engr. Mohammed Gambo Umar and kinwumi Godson Fanimokun for appointment as Non-Executive Directors. The profiles of the Nominee Directors are presented below.

On a different note, Mrs. Folashade Ode has voluntarily resigned her appointment as Executive Director of the Company with effect from 13th July, 2018. However, her resignation has no relation with the transfer of shares that took place around the same period.

According to the NAHCO Aviance, Chairman, Arc Usman Arabi Bello’ statement excerpts from addendum to Nigerian Aviation Handling Company plc directors report in the 2017 annual report & accounts said, the Board wishes to assure the shareholders that the share transfer and related Board changes will not adversely affect the Company. The Board and Management will continue improving on the growth and profitability of the Company.

The profile of; Akinwumi Godson Fanimokun as a distinguished career and wealth of experience, spanning 35 years in effecting and implementing change, driving strategic positioning and demonstrating diverse competencies across systems and subsidiary leadership.

Fanimokun served with first Bank from 1980-2015 where he headed various units amongst which is the Group head public sector Abuja. He was appointed as the Chief Operating Officer where he pioneered the implementation of new Banking Application FINACLE 7 for the Bank in 2002, its upgrade FINACLE 10 and its supporting infrastructure in 2013.

 

He also served as the Managing Director and Chief Executive Officer (CEO) of First pension Custodian, where he increased profits by 64% to over N1 billion despite adverse effects of theglobal melt down & improved assets under his custody by 300% placing the custodian among the top in the Industry with 38% market share.

From 2014-till date, Mr. Fanimokun has been the chairman and member of several Boards of Directors such as Pay attitude, Pridal (Holding Company of First Monie), Blueprint Business Technologies (BBT) Nigeria, and Xpress Payments Solutions.

Mr. Fanimokun’s core competencies in Revenue and Growth, Relationship Building, Execution and Change Management increased First Bank’s deposit base from N30bn to N80bn in two years and this was achieved while he was managing the Public Sector Account of the Bank.

Mr. Fanimokun holds BSc Economics from Obafemi Awolowo University, Ile Ife, 1979, a Master’s Degree in Business Administration from Henley Management College, United Kingdom, 1998.

In his quest for demonstrating diverse competencies across systems, he attended several distinguished professional trainings from Harvard Business School in 2007, Chicago Booth Business School in 2008, Harvard Business School in 2009, Fund Forum International Conference, Monaco in 2011-2012 and Global Custody Forum, London in 2010-2012.

He was Executive Committee member of the chartered Institute of Bankers Nigeria (Lagos Branch) in 2008-2011 and Chairman Bankers Night Committee in 2009-2011. Mr. Fanimokun is happily married.

While Engr. Umar hails from Bauchi State and has a distinguished career experience spanning for 36 years in Development Banking, Property Development and Investment, Industrial Manufacturing/Production Management, Insurance, Airport Concessions Management and Security Printing & Minting Project Supervision and Execution.

In what people may call as return home: Engr. Umar has served as Chairman of different organisations among which are Nigeria Aviation Handling Company limited (nahco aviance), Aviation Medical Clinics (AMC), Board of Trustees- Nigeria Association of Tour Operators (NATOP) and National Airport Security Committee. He also served as the MD/CEO of Kapital Insurance Company limited (1989-2004), MD/CEO of Federal Airports Authority of Nigeria (FAAN) (2004-2005) and Executive Director of Nigerian Security Printing & Minting Plc (2011-2014).

 


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