The board of share registrar and investment giant- African Prudential Plc, on Wednesday announced the appointment of Obong Idiong as new Managing Director/Chief Executive.
This followed the retirement of Peter Asade, the MD/CEO after 12 years on the saddle.
Asade, who assumed the role in June 2006, was last week appointed onto a similar role in sister company- United Capital Plc.
In a statement to the Nigerian Stock Exchange (NSE), Joseph Jibuno, Company Secretary of Africa Prudential recalled that under the leadership of Ashade, the company acquired UAC Registrars Limited, one of the oldest share registration company in the country, which was subsequently seamlessly integrated.
“He championed disruptive innovation in the registrars’ business in Nigeria and across Africa, pioneering many e-products, and successfully implemented a major diversification strategy for the business,” the statement added.
Meanwhile, Idiong who resumes on Monday, July 2, 2018, subject to the approval of the Securities & Exchange Commission (SEC), was until his appointment the company secretary and legal adviser of Afriland Properties Plc, a position he held at African proprietary investment company- Heirs Holdings Ltd, where he oversaw structuring of broad spectrum of oil and gas, real estate, financial services, agribusiness, healthcare and hospitality portfolio for the company and some of its investee companies and subsidiaries.
Specific functions he handled included transaction advisory, implementation and institutionalization of governance frameworks, mergers and acquisitions, business incubation, compliance, regulatory and transactional advisory.
Obong also worked as Special Assistant to the Chairman of UBA Plc, Tony Elumelu, a position that enabled him handle diverse tasks, including business development, strategy, research, customer service and legal advisory.
With 16 years post-call experience, he obtained a Bachelor’s Degree in Law (LL.B) from the University of Calabar, B.L of the Nigerian Law School; LLM in International Finance and Banking from the University of Liverpool, and Master of Business Administration from the Lagos State University.
While welcoming Obong onboard, Eniola Fadayomi, chairman of African Prudential Plc noted his track record which “demonstrates and embodies our company’s core values of execution, excellence and enterprise, and I remain confident that this well-deserved appointment will further strengthen Africa Prudential Plc’s position as the regional industry leader across board, and, in automation, innovation, investor relations, business support solutions and customer experience.”
On his part, the new CEO expressed honour at the appointment, expressing commitment “to working to take Africa Prudential Plc to greater heights.”
