Jobs/Appointments
Zedcrest Capital Charts New Growth Strategy, Appoints Directors
By Modupe Gbadeyanka
Leading capital management firm in Nigeria, Zedcrest Capital Group, has announced the appointments of Mr Babatunde Sanda and Ms Stella Duru to its Board of Directors, with immediate effect as part of its corporate governance strategy and business expansion drive.
According to the company’s Group Managing Director, Mr Adedayo Amzat, the organisation is charting a new growth strategy targeted primarily at the retail opportunities in the market with the aim of creating more wealth for its clients.
“After operating in the market for over five years, the time has come to deepen our market penetration. Our Fixed Income and Currencies (FICC) operations have been primarily driven by a focus on wholesale dealing and brokerage to foreign portfolio investors, local pension fund administrators, asset managers and banks.
“We have identified High Net-worth Individuals (HNIs) and the retail space as new areas of focus and expansion for our business.
“To this end, we will be unveiling bespoke fixed income and wealth management solutions for the HNIs and retail markets through our newly licensed Asset Management subsidiary (Zedcrest Investment Managers) while we continue to serve our wholesale customers through ZedCap Partners, our SEC licensed inter-dealer brokerage business,” said Mr Amzat.
“With the newly crafted growth strategy, we are strengthening our board with successful professionals with diverse competencies who will guide the company through the next chapter of its growth trajectory,” added Mr Amzat.
Since its establishment in 2013, Zedcrest Capital has steadily grown to become one of the most sought-after securities dealing and proprietary investment firms in Nigeria.
Also commenting on the appointments, the pioneer and out-going Chairman of the company, Mr Abiola Aderounmu, commended the management of Zedcrest Capital Group for its well acclaimed achievements in the financial markets.
Mr Babatunde Sanda has over 36 years cognate experience with over 18 years experience in Auditing and Consulting, spanning three of the biggest international professional firms namely Coopers & Lybrand, Ernst & Whinney and PriceWaterHouse where he rose to the position of Senior Consultant in 1990. He retired as a Senior Partner of EY in December 2016. He is now into Economic, business and financial consulting.
His banking career started in 1991 and he rose to the position of Executive Director, Finance in 1998 at Wema Bank Plc and was Managing Director in 2000 of Banque International du Benin, Cotonou -a universal bank in Cotonou, Benin Republic. He was appointed by the Central Bank of Nigeria (CBN) in 2006 to serve as Director of Societe General Bank of Nigeria Ltd (while in holding action).
Mr Sanda holds an honours degree in Business Administration from the University of Benin and is an alumnus of the Advanced Management Program of Stanford University, California, USA. He has attended various management and development courses in major international institutes across the globe. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Associate of the Chartered Taxation Institute of Nigeria.
On her part, Ms Stella Duru is the only female Partner in Banwo & Ighodalo’s Energy and Natural Resources Practice Group. Her core areas of practice are Energy & Natural Resources, Project Finance and Corporate Finance. She is renowned for her extensive experience in the power sector and authors articles in leading law publications. Ms Duru has deep experience in oil, gas and power projects in Nigeria and has been involved in World Bank sponsored work streams advising on the power sector reforms in Nigeria.
She was involved in the privatization and sale of government assets in the hitherto vertically integrated government owned power utility as well as in the new business units that were spun off this utility.
She is currently leading the initiative on renewable energy transactions in her firm and in this regard, is advising several investors who are developing renewable projects in Nigeria. Ms Duru to advise on transactions along the entire value chain of generation, transmission and distribution; as well as on deals pertaining to IPPs, off-grid and on-grid solutions to the power deficit in Nigeria. She is very passionate about monetizing and utilizing Nigeria’s natural gas resources in order to get Nigeria powered up.
She obtained a law degree from the University of Lagos, Nigeria; and was admitted into the Nigerian Bar in January 2001. Ms Duru is a member of the Nigerian Bar Association, International Bar Association (Section on Energy and Natural Resources Law) and Association of International Petroleum Negotiators. She is also an Associate of the Nigeria Leadership Initiative (a leadership development not-for-profit, affiliated with the Aspen Institute) as well as an Associate WimBiz (an association of Women in Management, Business & Public Service).
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.
