Cowry Assets Management Limited, on Wednesday, announced the appointment of four new non-executive directors to its board and those of its subsidiaries – Cowry Securities Limited and Cowry Treasurers Limited, in what it said is part of efforts to strengthen and deepen corporate governance standards.
Those appointed are Mrs. Florence Boma Alabi, a Senior Advocate of Nigeria (SAN), who is to serve as an independent director of Cowry Asset Management Limited; and Prof. Joseph Olusegun Ajibola is a professor of Economics and Dean, College of Postgraduate Studies, Caleb University, a former executive director at Intercontinental Bank Plc (now a legacy part of Access Bank, and former President of the Chartered Institute of Bankers of Nigeria (CIBN). Others are Professor Uchenna Joseph Uwaleke, a Financial Economist and Professor of Capital Market Studies at the Nasarawa State University Keffi; as well as Sylvester Azubuike Okonkwo, Managing Director of Annet Integrated Solutions Limited.
The appointment, Cowry Assets noted in a statement, has been approved by the apex Capital Market Regulator in Nigeria, the Securities & Exchange Commission (SEC).
Mrs. Alabi is co-founder and partner of Primera Africa Legal, an award-winning full-service law firm. Before then, she co-founded Sterling Partnership Nigeria and Sterling Partnership England, and was at different times a Consultant in Maritime Law Consult, an Equity Partner in Lawson Adefope Solicitors, a Consultant Partner in Cooke Dugan Solicitors, as well as Council Member in the Commonwealth Council of the Royal Commonwealth Society.
A law graduate of the Rivers State University of Science and Technology, she was admitted into the Nigerian Bar after acquiring her B.L from the Nigerian Law School, after which she obtained an LL.M in Maritime Law from the King’s College University of London. She served as Chair, Planning Committee, International Chamber of Commerce; President, Commonwealth Lawyers Association (February 2011 – April 2013); Member, National Executive Committee of the Nigerian Bar Association (2012-2014, and 2016-2018); Chair, Association of Women Solicitors England and Wales (2005/2006); Member, NBA Section on Business Law (World Trade Organization Working Group).
Owing to her distinctive legal practice, she was elevated to the inner bar and was conferred, Senior Advocate of Nigeria in December 2020, besides earning the national honour of “Officer of the Order of the Niger (OON),” for distinguished professional performance and contributions to the Nigerian society.
Prof. Ajibola is a fellow of the CIBN; Institute of Credit Administration of Nigeria; Enterprise Risk Management Practitioners; Institute of Directors; Association of Forensic Accounting Researchers of which he is also a patron. The Associate Member of the Chartered Institute of Taxation of Nigeria (CITN), obtained a B.Sc. Economics (First-Class Honours), M.Sc. Economics, Ph.D Economics, from the Obafemi Awolowo University, after which he also acquired an LL.B from the University of Lagos, and was called to the Nigerian Bar in July 2003.
Besides the presidency of the CIBN (Dec 2006-Dec 2008); he was also a Member, Governing Council, Lagos Multidoor Courthouse, Lagos Judiciary, 2009-2014. He has several publications in various journals and has delivered lectures at various conferences, workshops and special trainings.
Prof. Uwaleke, the pioneer professor of Capital Market in Nigeria, was at various times Head of the Banking and Finance Department, as well as the Director of Quality Assurance at the Nasarawa State University. A Fellow of the Institute of Chartered Accountants of Nigeria (FCA), he is an Associate member of Chartered Institute of Stockbrokers (ACS), CIBN, Chartered Institute of Taxation of Nigeria (ACTI) and the Institute of Capital Market Registrars (ACMR). He is also a registered member of the Nigerian Economic Society (MNES) and the Financial Reporting Council of Nigeria (FRCN).
He holds a B.Sc. degree in Accounting from the Anambra State University of Science & Technology, M.Sc. in Economics (specializing in Finance) from University of Jos, a PhD in Finance from the Nasarawa State University, and has over 20 years of lecturing experience in Nigeria.
A former Commissioner of Finance in Imo State and a former Chief Economist and Director of Research at the Securities and Exchange Commission (SEC Nigeria), prior to joining the Nasarawa State University as a pioneer staff in the faculty of Administration, Uwaleke was an Investment Banker with Lombard Assets Management Limited as Head of Research and Private Banking.
He has authored/co-authored over 60 articles in peer-reviewed Journals as well as 9 books, especially in the area of Finance and Capital Markets, one of which is the popular 10 Ps of the Nigerian capital market.
With a wealth of experience spanning Relationship Management and Marketing; Operations and Technology and Financial Control, Okonkwo was prior to his current job the Managing Director of Investment One Pension Managers Limited. Before then, he served the company as Executive Director, and was responsible for managing the group’s Funds Under Management, including mutual funds, client’s portfolios and other managed funds.
He has an MBA from the IESE Business School, University of Navarra, Barcelona, Spain and a B.sc in Mechanical Engineering (First Class Honors) from the University of Lagos in 1992.
While congratulating the new board members, a statement by the company expressed confidence that their contributions will further boost the Group’s performance and corporate governance practices.