By Dipo Olowookere
The Managing Director/CEO of Custodian Investment Plc, Mr Wole Oshin, has been appointed to the board of UACN Property Development Company (UPDC) Plc.
The appointment followed the acquisition of the controlling stake of UAC Nigeria Plc in UPDC by Custodian Investment last year.
Mfr Oshin, who is an industry leader with over 30 years’ experience, is joining the board as a non-executive director with effect from Tuesday, January 5, 2021.
He is one of the two persons appointed to join the board of directors of UPDC as a non-executive director. The second appointee is Mr Adeniyi Falade, a Chartered Accountant, Chartered Stockbroker and an Investment Banker.
Mr Falade, who before his appointed as Managing Director of CrusaderSterling Pensions Limited in 2007, served as the CEO of Lead Capital and Head of Investment Banking Group of Ecobank Nigeria. He is also a member of the board of directors of Custodian Life Assurance Limited, Custodian Trustees Limited and Interstate Securities Limited.
Meanwhile, UPDC has announced the resignation of its Chairman, Mr Babatunde Kasali; the CEO, Mr Folasope Aiyesimoju; and three non-executive directors, Mr Adekunle Awojobi; Professor Okon Ansa; and Mrs Awuneba Ajumogobia, with effect from January 4, 2021.
In a statement, the board said it accepted the resignations and expressed its deep appreciation to the directors for their contributions to the board and the company, especially the former CEO “for his effective leadership during his tenure,” though he “will continue to serve as a non-executive director of the company.”
He has been replaced by Mrs Deborah Nicol-Omeruah in an acting capacity with effect from Tuesday, January 5, 2021.
Mrs Nicol-Omeruah has 20 years’ experience in real estate and banking with specialisation in property development, finance & acquisitions; mortgages; private banking and investment planning in the United Kingdom and across Africa.
Her prior leadership roles include Africa Account Director for Broll Property Group; Chief Operating Officer for Landmark Africa, and Head, Property Finance and Acquisitions for Stanbic IBTC Bank.
Mrs Nicol-Omeruah is a real estate professional and a Certified Mortgage and Financial Adviser (CeFA, CeMAP) of the Institute of Financial Services in the UK.
She is a recognised industry expert in the Nigerian mortgage and real estate development market. The Acting CEO holds a BArch Architecture from the University of Nottingham and was appointed Deputy Chief Executive Officer and Executive Director of UPDC on December 3, 2019.
