NAHCO Announces Changes In Its Board And Shareholding Structure


Wednesday, July 18, 2018 4:02PM /NSE


The Board of Directors of Nigerian Aviation Handling Company Plc (nacho aviance) wishes to announce to the shareholders, regulators and the general public that Godsmart Nigeria Limited has recently purchased 16.7% ordinary shares of the Company from some shareholders through trading on the Nigerian Stock Exchange, thereby becoming the single largest shareholder of the Company.


Consequent upon the transaction, the representatives of the selling shareholders, Mr. Femi Olubanwo and Mr. Christopher Oshiafi, have tendered letters of resignation from the company’s Board and the new investor has nominated Engr. Mohammed Gambo Umar, mni and Mr. Akinwumi Godson Fanimokun for appointment as Non-Executive Directors. The Board will hold an emergency meeting on 19th July, 2018 to consider the resignations and appointments. The profiles of the Nominee Directors are presented below.


On a different note, Mrs. Folashade Ode has resigned her appointment as Executive Director of the Company with effect from 13th July, 2018. Her resignation has no relation with the transfer of shares that took place around the same period.


The Board wishes to assure the shareholders that the share transfer and related Board changes will not adversely affect the Company. The Board and Management will continue improving on the growth and profitability of the Company.


Below are the profiles of the nominated Non-Executive Directors


Mr. Akinwumi Godson Fanimokun


Mr. Akinwumi Godson Fanimokun has a distinguished career and wealth of experience, spanning 35 years in effecting and implementing change, driving strategic positioning and demonstrating diverse competencies across systems and subsidiary leadership.


Mr. Fanimokun served with first Bank from 1980-2015 where he headed various units amongst which is the Group head public sector Abuja. He was appointed as the Chief Operating Officer where he pioneered the implementation of new Banking Application FINACLE 7 for the Bank in 2002, its upgrade FINACLE 10 and its supporting infrastructure in 2013.


He also served as the Managing Director and Chief Executive Officer (CEO) of First pension Custodian, where he increased profits by 64% to over N1 billion despite adverse effects of the global melt down & improved assets under his custody by 300% placing the custodian among the top in the Industry with 38% market share.


From 2014-tiII date, Mr. Fanimokun has been the chairman and member of several Boards of Directors such as Pay attitude, Pridal (Holding Company of First Monie), Blueprint Business Technologies (BBT) Nigeria, and Xpress Payments Solutions.


Mr. Fanimokun’s core competencies in Revenue and Growth, Relationship Building, Execution and Change Management increased First Bank's deposit base from N3obn to N8obn in two years and this was achieved while he was managing the Public Sector Account of the Bank.


Mr. Fanimokun holds BSc Economics from Obafemi Awolowo University, He Ife, 1979, a

Master's Degree in Business Administration from Henley Management College, United

Kingdom, 1998.


In his quest for demonstrating diverse competencies across systems, he attended several

distinguished professional trainings from Harvard Business School in 2007, Chicago Booth Business School in 2008, Harvard Business School in 2009, Fund Forum International Conference, Monaco in 2011-2012 and Global Custody Forum, London in 2010-2012.


He was Executive Committee member of the chartered lnstitute of Bankers Nigeria (Lagos Branch) in 2008-2011 and Chairman Bankers Night Committee in 2009-2011.


Mr. Fanimokun is happily married.


Engr. Mohammed Gambo Umar, Mni, Fnse


Engr. Umar hails from Bauchi State and has a distinguished career experience spanning for 36 years in Development Banking, Property Development and Investment, Industrial Manufacturing/Production Management, Insurance, Airport Concessions Management and Security Printing & Minting Project Supervision and Execution.


Engr. Umar has served as chairman of different organisations among which are Nigeria Aviation Handling Company limited (nahco aviance), Aviation Medical Clinics (AMC), Board of Trustees- Nigeria Association of Tour Operators (NATOP) and National Airport Security Committee. He also served as the MD/CEO of Kapital Insurance Company limited (1989-2004), MD/CEO of Federal Airports Authority of Nigeria (FAAN) (2004-2005) and Executive Director of Nigerian Security Printing & Minting PIc (2011-2014).


Engr. Umar holds a Master’s Degree in Finance and Banking from Morgan State University, Baltimore, Maryland, USA (1981-1983), as well as a Bachelor of Science Degree in Industrial Engineering from Kansas State University, Manhattan, Kansas USA (1977-1981). He is also a PhD candidate. He attended the Executive Program in International Management at Stanford University, California USA, National University of Singapore, Kellogg School of Management, North West University Chicago USA and Wits Business School, University of Witwatersrand, Johannesburg, South Africa. He was also at Lagos Business School Management Development for Senior Executives 2000


Engr. Umar is an Honorary Senior Member of the Chartered Insurance Institute of Nigeria (CIIN); Member, American Institute of Industrial Engineers (MAIIE); Member National Institute for Policy and Strategic Studies (NIPSS), mni; Member, Council for the Regulation of Engineering in Nigeria (COREN No.R11.191) and Fellow, Institute of Management Consultants, amongst others.


Engr. Umar held leadership roles as Chairman-Bauchi State Privatization Committee (1986- 1988), Chairman-New Sharada Development (Residents) Association (2000-2002), Monitor-General, Senior Executive Course (SEC) 23, NIPSS, Kuru, 2001, amongst others.


He also received many awards amongst which are; National Hero of Democracy Award (2017); NIPSS Director General’s ”Outstanding Leadership Qualities" award for Senior Executive Course

(2001), Development in Nigeria Merit Award (DINMA) (2003), Chartered Insurance Institute of Nigeria Merit Award (1999).


He is happily married with children.


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