United Bank for Africa Plc, on Friday announced the appointment of Erelu Angela Adebayo, former first lady of Ekiti State, among four new Non-Executive Directors, subject to the approval of the Central Bank of Nigeria (CBN).
The new directors, including Ms. Angela Aneke, Alhaji Abdulqadir Jeli Bello and Isaac Olukayode Fasola, will replace Mrs. Rose Okwechime, founder and chief executive of Abbey Building Society Plc; Adekunle Olumide, Alhaji Ja’afaru Paki and Yahaya Zekeri, who retired with effect from August 30, 2018.
A statement by the group said Erelu Adebayo, Chairman, Erelu Adebayo Foundation for the under-privileged, graduated with an M.Phil in Land Economy from Cambridge University and is a council member of the Nigerian Stock Exchange (NSE). With extensively work experience in real estate development, she previously served on the boards of organisations like Dangote Foundation, DN Meyer Plc, Wemabod Estates.
Ms. Aneke is a board advisor, banker and a strategic thinker with over 30 years’ experience in financial services, in the areas of financial control, strategy, transaction banking, corporate banking, retail banking and governance. She has held executive management and board positions in several international and regional institutions, including Ecobank Transnational Incorporated and the UBA Plc.
On his part, Fasola, who is pursuing a Ph.D. in Business Administration, the statement added, brings on board over 30 years of cognate experience in management and board positions spanning banking operations, risk management, credit analysis, insurance, asset management, business strategy/development, performance management and corporate governance. He holds two MBAs and previously served as an Executive Director of a commercial Bank in Nigeria.
Bello, a Chartered Accountant, has over 30 years’ corporate experience in the banking sector, during the period he held several senior management positions in various banks and previously served as Group Chief Credit Officer of UBA. Thereafter, he was Executive Director in charge of Risk Management for the group.
Commenting on the new board appointments, the chairman, Tony Elumelu welcomed the quartet, who he said “bring a wealth of experience in their fields and will be tremendous assets, as we deliver on our mission to become the leading Pan-African financial institution in all our countries of operation.
“I am particularly pleased that two of the newly appointed Non-Executive Directors are women, bringing the total number of women to four, a further demonstration of our commitment to ensuring equality for both men and women,” he added
Also, Elumelu expressed appreciation to the “retiring Directors for their leadership and dedication to UBA and for their contribution to an already impressive 2018. I wish them the very best in their future endeavours”.
The group, on Wednesday published its audited financials for the half-year ended June 30, 2018, with profit before tax of N58.1bn, from its operations across 20 African countries, which followed its recent acquisition of a licence in Mali and the United Kingdom. The bank also has offices in New York City and in Paris.