CORPORATE NEWS: B.O.C GASES; COURTVILLE; DIAMOND BANK; CHAMS.

B.O C GASES: BATON CHANGE SOON.

The managing director of B O C Gases PLC  Mr Johann Van Rooyen, may likely resign by March to take up new assignment at Afrox Group.
According to a notice signed by the company secretary, Mr G E Oriseh to the Nigerian stock exchange, Mr Rooyen himself announced this at an emergency meeting of the Board of directors held on January 25, 2016 indicating that he may go by March.
No one has been chosen to step into his shoes yet but at the same emergency meeting the result of interviews for local directors for the board was also announced to the effect that Mr Oyedele Oyeniyi Olawale be invited to join the board meeting in March.

DIAMOND BANK: MRS OKAUNU RESIGNS

Mrs Ifueko Omoigui Okaunu has resigned from the board of directors of Diamond Bank PLC.
According to a notice to the stock exchange dated January 26, Mrs Okaunu was an independent director and her resignation took effect since October 18, 2015.

COURTVILLE BUSINESS SOLUTIONS: SOUR 2015

Courtville Business Solutions plc has given an advance notice to stakeholders that audited figures for 2015 financial year could likely represent a significant shortfall on 2014 performance.
According to the notice, this was due to "deterioration in the quality of receivables, investments and worsening exchange rate".
It explained that state governments and government agencies were the company's major clients and the continued drop in revenue had made them unable to meet their financial obligations.
In fact, says Courteville, in the third and fourth quarters of the year, additional provisions had to be made for write-offs amounting to about N140m.
However, Courteville remains optimistic about year 2016 because  the same state governments, under pressure to increase internally generated revenue will boost demand for its services in this regard. They also expect planned expansion in 2016 to help the company forward.

CHAMS PLC: GOLD FISHES ON BOARD

Recently, after 21 years of service, two directors, Alhaji Idi Farouk and Engr Akin Sawyer, resigned from the board of directors of Chams PLC.
Now, according to a notice from the company, three new directors who could be described as gold fishes, have joined the board in replacement. They are Mr Kyari Abba Bukar; Professor Oye Ibidapo-0be and Mr Benjamin Ifeanyi Akabueze.
Mr Kyari, with a Bsc in Physics and an MSC in Nuclear engineering is the current chief executive officer of Central Securities Clearing Systems ltd (CSCS) and chair of the Nigerian Economic Society.
Professor Ibidapo-Obe holds Bsc hons in maths, MSC applied maths and PhD in civil engineering. He is currently the vice chancellor of Federal University Ndufu in Ebonyi state after years at the University of Lagos from 1972 bowing out after serving his term as vice chancellor and winning best VC awards in 2004 and 2005.
Presently, he is also the President of Nigerian academy of science.
Ben Akabueze was the commissioner for economic planning and budget in lagos state from 2007 to 2015.
He holds Bsc accounting and is a fellow of Institute of chartered accountants of Nigeria with a wide range of working experience in both private and public sectors.

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