Jobs/Appointments
Three New Directors Join UAC of Nigeria Board
By Dipo Olowookere
Three new directors have been appointed into the board of directors of UAC of Nigeria Plc. The new appointees are Mr Folasope Babasola Aiyesimoju and Mrs Olufunke Ighodaro, who are Non-Executive Directors; and Mr Peter Benedikt Mombaur, who will serve as alternate Director to the new Directors.
A statement issued by the firm disclosed that the three directors are expected to bring into the board their wealth of experience.
A brief profile of the appointees shows that Mr Aiyesimoju is a finance professional with experience spanning corporate finance, principal investing and private equity.
Over the course of his career, he has lived and worked in Sub-Saharan Africa’s most important economies gaining experience of the operating landscape in the region.
He holds a B.Sc (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real estate development and finance, and earned the right to use the CFA designation in 2006.
Mr Aiyesimoju is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.
Prior to founding Themis, he worked with Kohlberg Kravis Roberts, a leading global investment firm with $168 billion in assets under management.
His experience also includes working with the Standard Bank Group, where he led mergers and acquisitions in Nigeria.
Mr Aiyesimoju spent the early part of his career with Ocean and Oil Holdings Limited, a principal investment firm in Nigeria and ARM Investment Managers, one of Nigeria’s leading investment advisory and wealth management firms. He co-founded Foodpro Limited, a nutritional snacks business focused on edible nuts, where he currently serves as a non-executive director.
On her part, Mrs Ighodaro is a commercially astute and experienced business leader with considerable experience in executive, as well as, non-executive leadership positions with some of Africa’s most successful companies.
She holds a B.Sc. (Hons) degree in Operational Research from Salford University and is a Fellow of the Institute of Chartered Accountants in England and Wales. She is an independent non-executive director and audit committee member at Datatec Limited, an international information and communications technology business with a market capitalization of $500 million and independent non-executive director and audit committee chair at Transaction Capital Limited, a $900m business, which operates in highly specialised and under- served segments of the South African and Australian financial services markets.
She also serves as an independent non-executive director for the Institute of Chartered Accountants in England and Wales, Members’ Advisory Board for Africa. She was recently appointed by the Central Bank of Nigeria, the Nigerian Communications Commission and a syndicate of 13 lenders to the Interim Board of Emerging Markets Telecommunication Services Limited where she serves as Executive Director & Chief financial officer focused on stabilizing the business ahead of a third-party sale. Her prior work experience includes serving as CFO at Tiger Brands Limited, Africa’s leading food producer with more than $2.5 billion in sales and operations across Africa and Latin America.
Prior to Tiger Brands, she was CFO at Primedia Limited and Executive Director at Kagiso Trust Investments. Funke spent the early part of her career working with the Standard Bank Group in Johannesburg and PricewaterhouseCoopers in London.
For Mr Mombaur, he is an investor and entrepreneur with professional experience in Sub-Saharan Africa, Western Europe and North America. He has lived and worked in Nigeria for seven years and overseen investments for over a decade.
He holds University degrees in Mechanical Engineering (specialising in Energy and Automation), as well as Law and Economics. His work experience spans fast moving consumer goods, telecommunications, financial services and education. He is the co-founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.
He is also chief executive officer and cofounder of Terra Education, a leading travel company based in San Diego, USA.
Prior to assuming an executive role at Terra Education, Peter was co-managing director at Tana Africa, an investment company with an open-ended investment horizon backed by the Oppenheimer family and Temasek.
His experience includes close to a decade as a management consultant with Mckinsey & Company, as well as, an independent consultant. Peter started his career with RWE Group, one of Germany’s largest utility companies. He is co-founder of the African Leadership Academy, an institution based in Johannesburg, South-Africa and focused on developing Africa’s future leaders.
By Adedapo Adesanya
MultiChoice Nigeria has announced a change in its leadership, with Ms Kemi Omotosho emerging as the new chief executive, taking over from Mr John Ugbe, who is set to retire.
The company said the transition, effective this month, follows a structured succession process designed to ensure continuity in leadership and operations.
Mr Ugbe is stepping down after nearly 15 years in the role, a period during which MultiChoice Nigeria navigated shifts in consumer behaviour, technology and regulation within the pay-TV and broader media industry.
Last year, French group Canal+ took over the operations of the South-African broadcasting group and effected some changes management- and content-wise across key markets.
During his tenure, Mr Ugbe oversaw efforts to strengthen the company’s operational framework and position the business to respond to changing market conditions. MultiChoice described his exit as a planned retirement rather than a sudden departure.
Ms Omotosho joins the role with more than two decades of leadership experience spanning media, telecommunications and digital services across Nigeria and other Sub-Saharan African markets.
Within the MultiChoice Group, she has previously served as Executive Head of Customer Value Management in Nigeria and later as Group Executive Head of Customer Value Management for Rest of Africa, a role that involved oversight across more than 50 markets.
She most recently held the position of Regional Director for Southern Africa, where she had full profit and loss responsibility for operations covering seven countries. In her new role, Ms Omotosho will be responsible for overseeing MultiChoice Nigeria’s strategy, day-to-day operations and engagement with regulators, partners and other stakeholders.
Speaking on her appointment, Ms Omotosho said, “It is a privilege to be entrusted with the leadership of MultiChoice Nigeria at this important moment.
“Nigeria remains one of the Group’s most strategic and dynamic markets. I look forward to working with our teams and partners to deepen our relationship with consumers, champion local storytelling and the creative economy as well build a future-ready organisation that delivers sustainable value.”
By Aduragbemi Omiyale
The board of Presco Plc has appointed Mr Adewale Arikawe as a non-executive director, replacing Mr Felix Nwabuko, retired from the position.
A statement from the organisation disclosed that the appointment of Arikawa took effect from Friday, January 2, 2026, until the next Annual General Meeting (AGM).
Also, he is now the chief executive of all SIAT subsidiaries, including Presco Plc, SIAT Nigeria Limited, and Ghana Oil Palm Development Company Limited.
In this capacity, Mr Arikawe will work alongside the existing leadership teams to strengthen execution, accelerate strategic growth, and foster a high-performance culture across the Group.
He is committed to empowering teams, enhancing leadership capability, and creating an enabling environment for continuous improvement and sustainable results.
Mr Arikawe brings over 26 years of leadership experience spanning across general management, commercial strategy, sales, customer development, and brand management. He has held senior leadership roles at Royal FrieslandCampina, overseeing operations across Sub-Saharan Africa, and at FrieslandCampina WAMCO Nigeria.
His career also includes senior leadership positions at Nestlé Nigeria Plc, where he managed multi-channel sales operations and contributed to key strategic growth initiatives.
He holds an MBA in Business Administration and Management from the University of Chichester and has completed executive education programmes at London Business School and IMD (International Institute for Management Development), Lausanne, Switzerland, with a focus on leadership, execution excellence, and business impact.
The board, in the statement, welcomed Mr Arikawe with open arms, looking “forward to his valuable contributions to the company and the wider SIAT Group.”
By Adedapo Adesanya
First Holdco Plc, formerly FBN Holdings Plc, has announced new board appointments across its non-commercial banking subsidiaries as it commits to building stronger businesses across board.
The move, following regulatory approvals from the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM), is part of efforts to deepen governance, strengthen oversight and position the business for sustainable growth.
FBN Holdings Plc rebranded to First HoldCo Plc in February 2025 to reflect its broader financial services focus beyond just banking.
Its services includes commercial banking (First Bank of Nigeria), merchant banking, asset management (FBNQuest), insurance brokerage, and trusteeship. It operates across Africa and has global offices in London, Paris, and Beijing, serving individuals, small businesses, and corporations.
At First Asset Management Limited, Mrs Ebikabo Williams has been appointed chairman of the board, bringing her extensive industry knowledge spanning banking, capital markets, and consulting. She will be supported by equally experienced board members like Mr Usman Dantata Jr., Mrs Binta Max Gbinije, and Mrs Alero Mobola Adollo.
At FirstCap Limited, its investment management firm, Mrs Yewande Amusan has been appointed chairman. She is an accomplished finance professional with experience cutting across both public and private sectors. Mr Ahmed Indimi and Mrs Irene Akpofure were appointed along with Mrs Adenike Kuti and Mr Zeal Akaraiwe.
First Securities Brokers Limited, which recently emerged as the top performer in the Nigerian Exchange (NGX) Brokers Performance Report in terms of both trading volume and transaction value, has named Mr John Akpeki as chairman. He is expected to leverage his vast experience in global marketing and networking. He is joined by Mrs Omolara Adeyemi, ,Mrs Susan Younis and Mrs Kemi Andu-Alausa.
Similarly, First Trustees Limited, one of the Group’s long-standing subsidiaries in trust and estate management, has strengthened its governance structure with the appointment of Mr John Lee as its chairman. He has over 40 years’ experience in global financial services, specialising in Corporate & Institutional Banking and Wealth Management across Africa. The other members of the board who are bringing their combined rich wealth of experience are Mrs Abiola Alabi, Mrs Adebisi Sola-Adeyemi, and Mrs Ugochukwu Obi-Chukwu.
For its insurance business, First Insurance Brokers, the firm has appointed Mr Akinola Phillips as Chairman. He is joined by Mrs Ije Onejeme, Mrs Folukemi Akinmeji and Mrs Mojisola Cardozo.
First Holdco said these appointments are expected to further consolidate the firm’s position as a dominant player in the asset and wealth management space in Nigeria.
The chairman of First Holdco, Mr Femi Otedola, while commenting on the appointments, said, “We are delighted to welcome these distinguished professionals to the boards of our non-commercial banking subsidiaries. Their proven expertise, impeccable track records, and leadership will play a critical role in shaping the next phase of our growth, enhancing stakeholder value, and reinforcing our position as a trusted African leader delivering innovative solutions across diverse sectors.”
“These appointments reaffirm our commitment to building resilient businesses that contribute meaningfully to economic development in the broader ecosystem in which we operate,” he added.
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