First Bank Holding Plc has appointed billionaire Femi Otedola as Non-Executive Director following the emergence of Oba Otudeko as the largest shareholder.
Mr Femi Otedola appointment is subject to the approval of shareholders at the upcoming Annual General Meeting (AGM) scheduled for August 15, 2023.
The financial institution listed Otedola as substantial shareholder with 5.57 per cent or 10,000,000 direct and 1,989,342,376 indirect shares held under Calvados Global Limited as of June 30, 2023 in the notice sent to shareholders ahead of AGM.
Also, the management is looking to secure shareholder approval to raise additional capital at the group’s Annual General Meeting (AGM) scheduled for August 15, 2023.
The capital raise transaction shall be by way of a Rights Issue, on such terms and conditions and on such dates as may be determined by the Directors, subject to obtaining the approvals of the relevant regulatory authorities.
“That the Rights Issue referred to in Resolution may be underwritten on such terms as may be determined by the Directors, subject to obtaining the approvals of the relevant regulatory authorities. That the shareholders, under Resolution, will waive their preemptive rights to any unsubscribed shares under the Rights Issue in the event of an under-subscription.
“That the Directors be authorized to appoint such professional parties and advisers and to perform all such other acts and do all such other things as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority.
Meet Dr. Olayemi Michael Cardoso: Nigeria’s New CBN Governor and His Remarkable Journey
Dr. Olayemi Michael Cardoso has been nominated by President Bola Tinubu to serve as the new Governor of the Central Bank of Nigeria for a term of five years, pending confirmation by the Senate.
Here’s what you need to know about him:
- Early Life and Education: Olayemi Cardoso is a Lagosian who spent his formative years in Lagos. He attended Corona School Ikoyi and St. Gregory’s College in Lagos for his primary and secondary education, respectively.
- Family Background: His father, Felix Bankole Cardoso, held prominent positions in Nigeria, serving as the first indigenous Accountant-General of the Federation of Nigeria in 1963. He was also the first indigenous Vice Chairman and Managing Director of Barclays Bank of Nigeria. Under his leadership, Barclays transformed into Union Bank of Nigeria, becoming a wholly-owned Nigerian entity.
- Educational Background: Olayemi Cardoso obtained a Bachelor’s degree in Managerial and Administrative Studies from Aston University in 1980. He furthered his education at the Harvard Kennedy School of Government, earning a Master’s degree in Public Administration in 2005 as a Mason Fellow.
- Honors and Recognitions: In recognition of his exceptional achievements in both the private and public sectors, Aston University awarded him an honorary Doctorate in Business Administration (DBA) in 2017. He is also esteemed as a Fellow of the Chartered Institute of Stockbrokers.
- Professional Background: Dr. Olayemi Michael Cardoso is a Nigerian banker, chartered stockbroker, and public policy expert. He has a remarkable track record of service spanning over four decades in various leadership roles in the public, private, and development sectors.
- Key Roles: Notable positions he has held include Commissioner in the Lagos State Ministry of Economic Planning and Budget. He has also served as the Chairman of the board of the African Venture Philanthropy Alliance. Most recently, he was the Chairman of Citibank Nigeria Ltd for an impressive 12-year tenure until his resignation in 2022.
- Family Life: Dr. Cardoso is known as a dedicated family man. He is married and has five children and three grandchildren. His family has a unique heritage as descendants of Brazilian returnees and hails from prominent families from Popo Aguda.
Dr. Olayemi Michael Cardoso brings a wealth of experience and expertise to his role as the nominated Governor of the Central Bank of Nigeria. His background in finance, public administration, and policy, as well as his distinguished career, make him a significant figure in Nigeria’s financial landscape. His nomination is subject to confirmation by the Senate, after which he will assume the position for a term of five years.
Zenith Bank Appoints Dr. Juliet Ehimuan as Non-Executive Director
The Board of Directors of Zenith Bank Plc has appointed Dr. Juliet Ehimuan as a Non-Executive Director of the bank effective August 29, 2023.
The appointment, which was announced in a statement to the Nigerian Exchange (NGX) Limited on Tuesday, August 29, 2023, has also be confirmed by the Central Bank of Nigeria.
Dr Juliet Ehimuan is the Founder and CEO of Beyond Limits and the immediate past Director of Google West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world, and as one of the Most Influential People of African Descent (MIPAD). She was also featured in the BBC Africa Power Women series, and on CNN Innovate Africa.
With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on Innovation, Transformation, and Leadership.
During her remarkable 12-year tenure at Google, Juliet played a pivotal role in expanding the company’s presence in Nigeria and the wider West Africa region. She championed initiatives to increase digital access, local content development, skills acquisition, entrepreneurial growth, innovation, and fostered strategic partnerships with leading private sector and government institutions.
Dr Juliet has made significant contributions to the tech ecosystem in Nigeria and Africa at large. She served on committees that developed the national broadband plan and ICT incubation strategy in Nigeria, and has been involved in national strategic advisory groups focused on economic growth. These engagements demonstrate her commitment to shaping the future of tech in Africa. She has received numerous awards for outstanding contribution to the digital landscape in Africa.
She holds board positions across multiple industries including Finance, FMCG, Oil & Gas, Education and social enterprises.
Her education includes a Doctoral degree in Business from Walden University in Minneapolis, an Executive MBA from the London Business School, a Postgraduate degree in Computer Science from the University of Cambridge; and a BSc in Computer Engineering (1st class honours) from the Obafemi Awolowo University, Ile-Ife.
She is a recipient of the London Business School Global Women’s Scholarship, and at Cambridge University was awarded Selwyn College Scholar and Malaysian Commonwealth Scholar. She is a Fellow of the Cambridge Commonwealth Society.
She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from Technology Africa. She is a published Author, Executive Coach, and a member of the Forbes Coaches’ Council.
Banking Veteran Mrs. Yemisi Lowo-Adesola Appointed to BUA Foods Plc Board
BUA Foods Plc, a leading player in the Nigerian agribusiness industry, has announced the appointment of Mrs. Yemisi Lowo-Adesola as an Independent Non-Executive Director.
According to the company, the decision was made at the recent Board of Directors meeting held on July 27, 2023.
Yemisi Lowo- Adesola is an experienced Senior Executive with over 30 years experience in banking and finance across Sub-Saharan Africa, spanning diverse functional areas including Corporate & Institutional Banking, Correspondent Banking, Developmental Finance, Investment Banking and Private Equity.
Yemisi is the Managing Director of CedarLink Advisory & Management Services Limited. Prior to the foregoing, she worked in Standard Chartered Bank where she held several senior management roles over a nine-year period, culminating in the role of Managing Director & Regional Head of Financial Institutions for Africa, with responsibility for a multi-culturally diverse team across fourteen countries in Sub-Saharan Africa.
In the course of her career, Yemisi occupied a range of senior management roles at the International Finance Corporation (a member of the World Bank Group), First Bank of Nigeria Group, Investment Banking & Trust Company Limited (now Stanbic IBTC Plc), and Vee Networks Limited (now Airtel Nigeria Limited).
Yemisi holds a BSc (with honours) from Obafemi Awolowo University, Ile-Ife, Nigeria, and an MBA from Cranfield University School of Management, United Kingdom. She is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Stockbrokers. She has also undergone executive development training at the London Business School, INSEAD, Wharton Business School, and Harvard Business School.
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