DEAPCAP Notifies of Changes in the Company’s BOD, Mgt, Company Sec. and Office Address

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Monday, July 22, 2019 /11:00AM / by NSE 


At the Board meeting of the Deap Capital Management & Trust Plc held on June 7, 2019, the following changes were made in the board of Directors of the Company.


  1. New Board of Directors

AlhajiMurtalaAliyu — Non- Executive

Mr. Jacob Esan — Non- Executive

Mr. Joe Idudu — Chairman

Mr. Emmanuel Ugboh — Non- Executive

Dr. Kenneth Olise — Non- Executive

Mr. Edmond Ani — Non- Executive

Joel Omole — Managing Director


a) Mr. Joe Idudu and Mr. Emmanuel Ugboh joined the board again after the five years suspension placed on them along with nine other former Directors of the company came to an end on March 27, 2019.

b) Dr. Kenneth Olise, Mr. Edmond Ani, and Mr. Joel Omole, were appointed to the Board as part of the turnaround team who have made a proposal to the Board to work with them as a Management Group for the turnaround of the company, based on the Business Reorganization and operational Plan prepared by Collaboration and Consulting Company Limited for Deap Capital Management &Trust Plc.

c) Elder Williams Odudu resigned from the Board based on the new Board structure of the company which is 7 made up of 2 persons from the current Board, two from the old Board suspended by SEC, and 3 from the turnaround team.


  1. The Profile of the new Directors are as follows:

1. Mr. Joe Idudu

Mr Joe Idudu is a Chartered Estate Surveyor. He had his education in the U.K. where he obtained his Bachelor of Science Degree in Estate Management from the University of London. He worked with the international firm of real estate consultants, Messrs Knight Frank, a foremost player in the Nigerian property market, for over 30 years and rose to become the Chief Executive Officer, and retired from there in 2006. He is a Fellow of both the Royal Institute of Estate Surveyors & Valuers and the Nigerian Institute of Estate Surveyors and Valuers. He is a past President of the Nigerian Institute of Estate Surveyors and Valuers, having been President of the Institute from 1994 - 1996. He also served as Chairman of Bendel Development and Property Authority, the housing agency of the defunct Bendel State (1987-1991), Delta Development & Property Authority (DDPA) from 1999-2008.

He served as the Chairman of Resort Savings & Loans Plc and was part of the turnaround management team /board that structured and recapitalized the company between 2005 and 2008 and took it public after the capital raising and got it listed on the Nigerian Stock Exchange. He resigned from the board of the bank in 2011. He is the Chairman of Falcon Securities Limited and the Managing Partner of Joe Idudu & Associates, a firm he set up since 2006 after his retirement from Messrs Knight Frank.


2. Emmanuel Ugboh - Director

Mr. Emmanuel Ugboh is an Economist and a Chartered Accountant, with over 37 years post- graduation experience, spanning financial management consulting for industries and general management positions in investment banking institutions. He is also a Chartered Stockbroker and has an MBA in Finance. He worked with Arthur Anderson & Co., UAC of Nigeria Pilc., KPMG Consulting and Rims Merchant Bank Limited in the first 10 years of his career.

He was the CEO of Summa Guaranty & Trust Company Plc for 3 years and worked with IMB Securities Pic for 7 years as the Managing Director/Chief Executive Officer. He co- founded Deap Capital Management & Trust Plc with three others and was the pioneer Managing Director. He worked with the company for twelve years during which period he and his team led the company to its listing at the Nigeria Stock Exchange after 5 years of operations. Mr. Emmanuel Ugboh is currently the Managing Consultant of Greenfield Capital Limited, a position he has held for the past 5 years.


3. Edmond Ani

Mr. Edmond Ani is a Chartered Accountant and Businessman. He has BSc in. Economics and Statistics and MSc in International Business. He worked with the International accounting and auditing firms of KPMG Peat Marwick AniOgunde for his audit training and later moved to Coopers and Lybrand for his management consultancy practice.

Mr Ani served in Coopers and Lybrand and Keel Consult as a Management Consultant holding various positions in the two companies for over 13 years. He has been in business over the past decade and is Chairman/CEO of Granite and Marble, Ghana, Chairman Arkstone Limited, Ghana and Nigeria and Vice Chairman, Suctone Ventures, Calabar. He attended university of Benin, Benin City, City University, London and St. Augustine College, West-on-Sea, Kent, United Kingdom.


4. Kenneth Olise (Ph.D, FCA, JP)

Kenneth Olise is a distinguished professional, astute businessman and entrepreneur; a leader with track records of multi-cultural integration and sterling corporate performance. He has HND Accountancy, Bachelors (B.Sc) in Economics, Master of Science (M.Sc) in Economics, Master of Science (M.Sc) in Transport Studies and Master of Business Administration (MBA) and Ph.D in International Business.

He is a member of many professional bodies in Nigeria and abroad. Kenneth is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), Fellow Chartered Institute of Taxation of Nigeria (FCIT), Fellow, Nigerian Economic Society (FNES), Fellow, Nigerian Institute of Strategic Management (FNIS), Fellow, International Institute of Certified Forensic Investigation Professionals (FCFIP), Fellow, American Academy of Financial Management (FAAFM) and Member Nigerian Institute of Management (MNIM), etc.

He is the Chief Executive Officer of Fitex Consulting and has interest in diverse businesses. He started his career with Spiropoulos, Adiele, Okpara& Co. Chartered Accountants as an Audit trainee. He worked with Aeromaritime Group as an Internal Auditor, rising through the ranks to become the first indigenous Managing Director.

Aeromaritime group comprises Aeromaritime Nig. Ltd, Brawal Shipping Ltd, Brawal Oil Servicing Ltd, Aerobell stevedoring Ltd, Rope and Rigging Ltd. He has robust experience as an executive leader in various sectors and fields. He was the Chief Accountant of CAT Construction Ltd, Chairman of the Board of Directors of Kaynet Construction Ltd and Vision Ventures Ltd. He is the Chairman of Board of Trustees of Maris Academy, Asaba.

Kenneth was a part time lecturer at the Post-Graduate School (MBA) of the Lagos State University, Ojo, Lagos. Kenneth has conducted many research works and consultancies for International agencies including the World Bank, DFID and UNDP. He was an Associate Consultant with the International firm, PriceWaterHouseCoopers.


5. Joel Ogaga Omole

Joel Omole is a versatile consultant with over 25 years professional experience in the Nigerian economy. His experience cuts across accounting, external audit, performance audit, taxation, financial and management consulting in the private, public and development sectors. Joel has skills in audit and investigation, business plan development, business valuation, monitoring and evaluation, accounting system development as well as corporate and strategic planning.

He has carried out a number of consultancy assignments, including strategic planning development, financial tracking and performance audit review of MDAs and due diligence of a mortgage bank in preparation for equity injection. Others includes monitoring and reviewing of FBOs involvement in Routine Distributions of Anti-Malaria Commodities (AMCs) at the Community Level in Anambra State on behalf of DFID. He has provided capacity building for the office of the Auditor General of the Federation on performance audit, system documentation of Chevron Nigeria Limited, accounting system development and working capital study for a major oil company in Nigeria. Joel has his professional accounting training with the firm of D.O. Dafinone& Co. now Howard Dafinone, Chartered Accountants. Thereafter, he worked with Trust Bond Limited as Deputy Manager and Goldfinger Export Credit Agency Limited as Finance/Treasury Manager. Joel is the Managing Partner of OgagaOmole & Co, Chartered Accountants, a firm he founded since 1994. MrOmole holds MBA in management and is a fellow of the Institute of Chartered Accountants of Nigeria as well as Chartered Institute of Taxation of Nigeria.


  1. Office Address/Contact Persons

a) Deap Capital Management & Trust Plc has relocated its office address from 94 Broad Street to 205, Igbosere Road (1st Floor), Lagos.

b) The contact persons for the company are:

1. Mr. Joel Omole — Managing Director

Tel: 234 807 662 0522

234 818 058 3980


2. OsammorOtiono & Co (Company Secretary)

Tel: 234 803 319 1911 (Chris Okonkwo)



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