CORPORATE NEWS: Ecobank, Royal Exchange, Dangote cement, Goldlink insurance.


ECOBANK TRANSNATIONAL HOLDS AGM.

Inspire of the fact that the 2015 accounts of its major subsidiary, Ecobank  Nigeria is yet to be officially approved and released, Ecobank Transnational Incorporated, held its 28th annual general meeting on June 17 at Lome, Togo.
According to press release by ETI head of communications, Richard Uku,  the AGM was at the head office followed by an extraordinary general meeting that restructured the group's share capital.

At the AGM, group dividend totaling 48.2m dollars was approved from 60.77m dollars profit for the year.

Also, appointment of three directors, Messrs Abdulla Al  Khalifa, Ade Adeyemi ( the group CEO) and Mfundo Nkulilu were formally approved by shareholders.

In addition, Mr Ignace Clomegah and Ms Catherine Ngahu Elulu were appointed as directors just as the mandate of Dr Daniel Matjila to serve on the board was renewed for another three years.

At the same meeting, two external auditors, Deloitte Nigeria and Great Thornton of Cote D' Ivoire were appointed for another year.

At the EGM that followed, the nominal value of ETI shares was increased to 50 cents from 2.5 cents and the shares will be replaced in the ratio of 20 old to one new one.

ETI is technically a Togolese company registered there and operates in 36 African countries including Nigeria where it has its major presence.

It employs over 20,000 people in 1200 branches and offices in 40 different countries worldwide.

ROYAL EXCHANGE CONFIRMS CEO.

Royal Exchange PLC has from June 15, 2016 confirmed Alhaji Auwulu Muktari as substantive chief executive officer after six months in acting capacity.

According to a notice signed by Ms Sheila Ezeuko, GM legal secreriat and compliance services, Auwulu had been acting since January.

He holds first degree in business administration and Msc  in banking and finance from Bayero University, Kano and a diploma in insurance from Ahmadu Bello University.

He joined Royal Exchange PLC in 1995  after cutting his teeth at Kapital insurance ltd.

From being branch manager Kano responsible for Royal Exchange operations in Maiduguri, Bauchi and Yola, he became regional director in 2003.

In 2008, he left briefly to become CEO of  Yankari Insurance Ltd then returned in 2010 as group executive director in charge of marketing and sales.

GOLDLINK INSURANCE CEO RETIRES EARLY.

The managing director and CEO of Goldlink insurance PLC has opted for early retirement.

According to the notice sent to the Nigerian stock exchange signed by the company secretary, Mrs Olufunke Moore has been appointed as acting CEO pending the appointment of a new one.

MRS UFOT BECOMES DANGOTE CEMENT DIRECTOR.

Senior Advocate of Nigeria (SAN) Mrs Dorothy Udeme Ufot has been appointed non executive independent director of Dangote cement PLC.

She brings to the Dangote cement boardroom over almost 30 years experience as commercial litigator after being called to the Nigerian bar in 1989 and becoming a SAN in April 2009.

Within the period, she remained very active internationally through the International Bar Association and at one time or the other, was on the Council of the Nigerian stock exchange, and director of many companies including Chevron, MRS oil and SOU Nigeria Ltd.

She has been the managing partner of Dorothy Ufot & Co since 1994.

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