Jobs/Appointments
AfDB Appoints Magala as VP Corporate Services & HR
By Modupe Gbadeyanka
Dr Mateus Magala has been named by the African Development Bank (AfDB) Group as the new Vice President for Corporate Services and Human Resources, effective from September 1, 2018.
Dr Magala, a citizen of Mozambique, is currently the Chairman and Chief Executive Officer of the Electricity of Mozambique (EDM).
He holds a Masters in Economics and Econometrics (2000), a Masters in Transport Economics and Management (1998) and a Master’s in Business Administration, all from the University of Sydney, Australia. He also holds a Master of Science in Mechanical Engineering from the Academy of Brno, Czech Republic, (1990). Dr. Magala obtained his PhD in Economics from Victoria University, Australia (2004).
He worked earlier at the African Development Bank from 2008-2015 in various roles, including as Principal Planning Economist and Strategist, Strategy Advisor, and Resident Representative of the Bank in Zimbabwe, prior to being requested to return to his country of Mozambique, to help revamp the nation’s utility company, the EDM. While at the Bank, he helped to lead the development of the Bank’s Ten Year Strategy.
Prior to joining the Bank, he had worked as Research Fellow at the University of Sydney, Australia (2001-2003), Senior Research Fellow and Senior Lecturer, at the University of Melbourne, Australia (2003-2005), Associate Director for Strategic Designs and Development in Australia (2006-2007), Team Leader for the Strategy Advisory Services, Parsons Brinckerhoff in Australia, Economic and Strategy Advisor for Rio Pinto (2008-2009).
Dr. Magala brings a strong transformation and reform mindset and experience. At the EDM, where he heads several thousand staff, he embarked on reforms to put in place performance based systems, cut back on layers of bureaucracy, implemented global talent hunts and established performance-based contracts.
Within two years, the performance of the EDM saw a rapid turn around. With recruitment of better-qualified and rewarded staff, EDM saw its revenue rise from $150 million to $500 million and on track to reach $1 billion by 2020. He has won acclaim for his work at EDM, earning the 2017 Personality of the Year in Mozambique, by the Blue Bird Club, the 2016 African Leadership Business Excellence Award and the Outstanding Contribution for Power, 2017 / 2018, by the African Utility Week Industry Awards.
Commenting on his appointment, Dr. Mateus Magala said “It is such a great honor to be appointed as Vice President for Corporate Services and Human Resources for the African Development Bank. I look forward to helping to further promote a culture of high productivity, performance and accountability for results, through attracting, rewarding, and retaining best-in-class staff talents”.
“Already, the Bank is the fourth most attractive company among employers in Africa. I look forward to working with President Adesina on his bold reforms and to help fast-track institutional systems and processes to make the Bank more nimble for faster responsiveness to the needs of our stakeholders, while accelerating the delivery of the operations of the Bank”, said Dr. Magala.
Speaking on the appointment, the President of the African Development Bank, Dr. Akinwumi Adesina said “Dr. Magala has led institutional reforms successfully and brings innovative ideas, creativity, passion, drive and determination to implement reforms. He is results-oriented. I expect that he will be able to effectively align the human resources and corporate services to support the Bank on its lending and non-lending operations to achieve greater impacts”.
“Dr. Magala, who is from a Lusophone or Portuguese speaking African country, also becomes the first-ever Vice President of the Bank from a Lusophone country in the Bank’s 54 year history. This reaffirms my strong personal commitment, and that of the Bank, to greater diversity, inclusiveness and broad-based representation within the Bank Group”, said Dr. Adesina
By Aduragbemi Omiyale
In line with the 12-year tenure prescribed for non-executive directors of banks by the Central Bank of Nigeria (CBN), Mr Tony Elumelu will on August 21, 2026, cease to be chairman of United Bank for Africa (UBA) Plc.
The board of the financial institution at its meeting on July 6, 2026, has elected Mr Emmanuel Nnorom as the new chairman.
In a notice to the Nigerian Exchange (NGX) Limited, the lender said Mr Elumelu’s successor, a non-executive director of the company, will assume the new role on August 21, 2026.
Mr Nnorom is a chartered accountant with over 40 years of experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.
“I look forward to working with my colleagues on the board, management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” Mr Nnorom stated.
Commenting on his retirement, Mr Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career.
“UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
The board thanked him for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
By Adedapo Adesanya
WACT-APM Terminals Nigeria has announced the appointment of Mr Courage Obadagbonyi as Managing Director, effective July 1, 2026, succeeding Mr Jeethu Jose and becoming the first Nigerian to hold the post.
The appointment reflects the organisation’s continued focus on developing strong leadership from within its global talent pool while ensuring sustained growth and operational excellence.
A seasoned executive with more than two decades of international experience, Mr Obadagbonyi has held leadership roles across finance, operations and general management at leading global organisations, including APM Terminals, General Electric and Lafarge.
Prior to this appointment, he served as Chief Financial Officer (CFO) for the APM Terminals Nigeria cluster, with responsibility for financial strategy across Nigeria and San Pedro, Côte d’Ivoire.
He also served in an acting capacity as Managing Director of APM Terminals Apapa between 2025 and March 2026, further strengthening his operational leadership experience.
With experience spanning sectors such as oil and gas, power generation, logistics and healthcare, Mr Obadagbonyi brings deep expertise in financial management, risk optimisation and business performance.
Speaking on his appointment, he said, “I look forward to building on the strong foundation already in place at WACT. The terminal plays a critical role in connecting businesses in Eastern Nigeria to global markets, and we will continue to focus on safe, reliable and efficient operations.”
On his part, the Chief Executive Officer of APM Terminals Nigeria, Mr Frederik Klinke, noted that the appointment reflects the company’s commitment to leadership development and long-term growth.
“Across APM Terminals globally, we see strong collaboration and talent development across our teams. This appointment reflects the depth of experience within our organisation and our continued focus on building capabilities that support sustainable growth. Nigerians have continued to distinguish themselves through exceptional performance and leadership. Colleagues from our Apapa and Onne terminals have contributed their expertise internationally while also bringing back valuable best practices to strengthen operations in Nigeria.”
He added that Mr Obadagbonyi’s experience would support the next phase of operational excellence and value delivery at WACT.
The outgoing MD, Mr Jose, said, “It has been a privilege to lead WACT-APM Terminals Nigeria during a period of meaningful progress. The team has built a strong platform for the future, and I am confident in the continued success of the organisation.”
West Africa Container Terminal (WACT)-APM Terminals in Onne, Rivers State, is one of Nigeria’s leading container terminals, having commenced commercial operations in 2006.
The company has continued to invest in capacity expansion and modernisation, including a $115 million terminal upgrade project launched in 2020. The upgrade also includes the deployment of reefer racks with a 600-plug capacity, as well as the expansion of the existing yard, a new workshop, a new terminal auto gate, modernised offices and state-of-the-art technology. These investments have enhanced efficiency, strengthened service delivery and reinforced WACT’s role as an important gateway for trade beyond Lagos.
By Aduragbemi Omiyale
A new member has joined the board of Unilever Nigeria Plc, and she is Mrs Modupe Femi-Okunbanjo, who was appointed as an executive director of the organisation.
Her appointment, according to a statement from the company, is effective June 30, 2026. It followed the resignation of Mr Ibrahim Sodipe as an executive director of the firm with effect from June 30, 2026.
Mr Sodipe was praised for his valuable service and significant contributions to the entity, particularly in driving improved turnover and profitability and supporting Unilever Nigeria’s continued progress towards sustainable and profitable growth.
Mrs Femi-Okunbanjo was described as an accomplished finance and governance leader who, for more than 15 years, has steered finance teams, shaped strategy, and strengthened risk management frameworks in the fast-moving consumer goods and telecommunications sectors.
She is currently the Financial Controller of Nigeria and Regional Controls Lead for West Africa at Unilever Nigeria, where she oversees financial governance, regulatory compliance, and enterprise risk management.
Her work has been pivotal in embedding ethical leadership and data-driven decision-making at board level, while ensuring organisations remain resilient in the face of shifting market dynamics.
The new board member has established a reputation for elevating financial reporting, advancing audit excellence, and strengthening governance frameworks, thereby positioning organisations for sustainable growth and long-term value creation.
In her previous roles, she has a consistent track record of delivering margin expansion, enhancing governance & control environments, and leading transformation in challenging macroeconomic conditions.
She is equally committed to developing future talent and advancing financial literacy among younger generations.
Prior to her joining Unilever Nigeria Plc in 2018, Mrs Femi-Okunbanjo held key roles at UAC of Nigeria Plc, Helios Towers Nigeria, and Makasa Sun Nigeria Limited, where she pioneered control frameworks from the ground up, eliminating revenue leakages, digitising operations and embedding financial discipline.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Member of the Chartered Institute of Management Accountants (CIMA), she holds a Bachelor’s degree in Accounting from Lagos State University and an MBA with Specialisation in Strategy from the Edinburgh Business School, Heriot-Watt University, UK.
