CORPORATE NEWS: NEW DIRECTORS FOR NASCON; NIGER INSURANCE, ROYAL EXCHANGE etc

NASCON ALLIED INDUSTRIES: New Directors

Alhaji Aliko Dangote, Sani Dangote and S O Olamide have resigned from the board of Nascon Allied Industries PLC and in their place new directors have been appointed since December 15,.
Mrs Yemisu Ayeni, ex finance director of Shell Nigeria Exploration takes over as the Chairman of the board of directors after being admitted as a director. Mrs Ayeni was also president and council member of the Nigerian Stock Exchange
Also admitted to the board were two other directors: Dr Chris Ike Ogbechie and Fatima Wali-Abdulrahman
Dr Ogbechie is the current chairman of Diamond Bank and a facilitator at Lagos Business School.
On the other hand, Wali-Abdulrahman is an architect and board member of Oando Foundation and Consolidated Discounts ltd.

NIGER INSURANCE: NEW DIRECTORS.
Following the retirement of Alhaji Bala Zakariyu as chairman and Mr Frederick Nnandi Udechukwu as director, new directors have been appointed for Niger Insurance PLC.
They are Mr Yusuf H Abubakar who comes in as the new chairman; Umaru H Modibbo and Dr Stephen B Dike.
Umaru Modibbo holds a Bsc Business Administration degree from Ahmadu Bello University and started working career in 1985  with the Gongola state ministry of commerce and industries.
From 1987 to 1991 he worked with Gongola Investment Co ltd first as investment executive then senior investment executive.
In July 1991 he joined Tiddo securities Ltd, a dealing member of the Nigerian stock exchange through which he qualified as a dealing clerk to start a new career.
Eventually he became council member of the Exchange and the pioneer Director General of the Central Securities Clearing Systems ltd.
Beyond, he established the Sigma group which comprises different companies  involved in stock dealing; properties; dealing in foreign currency, power and pensions.
Dr Dike holds PHD in finance, Ms in Resource management, MA in economics and Bs in Chemistry from West Virginia university.
He is the current chairman of Advanced Management & Technology Ltd and of Montgomery Nigeria Ltd apart from being the founder and CEO of Virginia based Westcom International Ltd.

OTHERS:
There were announcement of other boards within the week. These were:
STANBIC IBTC where Mrs Maryam Uwais has resigned as an independent non-executive director to take up appointment as President Buhari's adviser on Social Investments.
ROYALEXCHANGE where the Group Managing Director Mr Chike Mokuonye goes on terminal leave from December 31 to be replaced by Alhaji Auwala Muktar as acting GMD until a substantive CEO was appointed.

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