Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
The Nigerian Aviation Handling Company Plc (NAHCO) has announced the appointment of two distinguished professionals to its Board of Directors as part of a strategic move to strengthen its leadership with deep expertise in finance, corporate governance, infrastructure, and corporate law. The company disclosed on Sunday, 5 July 2026, that legal expert Wolemi Esan, Senior Advocate of Nigeria (SAN), and Dr Julius B. Omodayo-Owotuga, an Executive Director at First Bank of Nigeria Limited, have been appointed as Non-Executive Directors effective 1 July 2026. The appointments, which were disclosed in a statement signed by the Company Secretary, Bello Abdullahi, fill vacancies created by the retirement of two long-serving board members.
The boardroom shake-up saw the retirement of Akinwumi Godson Fanimokun, who served as Independent Non-Executive Director and Vice Chairman, and Taofeeq Oluwatoyin Salman, a Non-Executive Director. Both directors stepped down after completing an eight-year tenure on the board, with Fanimokun's retirement attributed to age considerations. Despite his exit from the board, Fanimokun continues to hold a substantial equity stake in the company, underscoring his enduring confidence in the aviation handling giant. In a related development, the board approved the elevation of Tajudeen Omoshola Shobayo, an existing Non-Executive Director and Fellow of the Institute of Chartered Accountants of Nigeria (FCA), to the position of Vice Chairman, effective 1 July 2026, succeeding Fanimokun.
Wolemi Esan, SAN, brings to NAHCO's board more than two decades of experience advising corporations, financial institutions, and government agencies on complex commercial disputes, arbitration, corporate governance, capital markets, mergers and acquisitions, and major infrastructure projects. His expertise is particularly significant for NAHCO, as he has advised on several landmark transportation and infrastructure transactions, including rail, port, and airport concession projects. Esan's distinguished legal practice has earned him repeated recognition by internationally respected legal directories, including Chambers Global, IFLR1000, and Legal 500. Academically, he holds a Bachelor of Laws degree from Lagos State University, was called to the Nigerian Bar after graduating from the Nigerian Law School, obtained a Master of Laws degree from University College London as a Jeremy Bentham Scholar, and later earned a Master of Business Administration from Durham University.
Dr Julius B. Omodayo-Owotuga joins the board with an impressive track record spanning banking, infrastructure finance, energy, governance, and corporate transformation. He currently serves as an Executive Director at First Bank of Nigeria Limited, a position he assumed effective 13 May 2026, where he strengthens the bank's leadership capacity across strategic finance, governance, risk management, and institutional transformation. Before joining FirstBank, Omodayo-Owotuga served as Deputy Chief Executive Officer of Geregu Power Plc, where he played a key role in strengthening governance structures, improving operational performance, and supporting the company's transition into a listed market-driven enterprise. He also served as Group Executive Director of Ardova Plc (formerly Forte Oil) and held leadership roles at Africa Finance Corporation, Standard Chartered Bank, and KPMG. A CFA Charterholder, he holds a Doctorate in Business Administration from Saïd Business School, University of Oxford, an MBA from IE Business School, and a degree in Accounting from the University of Lagos.
The appointments come on the heels of another strong financial year for NAHCO, which has demonstrated remarkable resilience and growth in Nigeria's challenging business environment. At its recent Annual General Meeting, shareholders approved the payment of ₦12.18 billion in cash dividends and the distribution of 278.44 million ordinary shares of 50 kobo each as bonus shares for the 2025 business year. The gross cash dividend represented an increase from the ₦11.58 billion paid for the 2024 business year, marking five consecutive years of increase in payouts in the company's history of unbroken dividend payments. Shareholders received a dividend per share of ₦6.25 for the 2025 business year, compared with ₦5.94 paid for the previous year. This impressive financial performance reflects the company's sustained operational efficiency and strategic positioning in Nigeria's aviation ground handling industry.
The board appointments are part of NAHCO's broader strategy to reinforce its leadership structure as it continues to pursue sustainable growth and deliver value to shareholders. The company noted that Esan and Omodayo-Owotuga bring complementary expertise that will enhance the board's capacity to navigate the complexities of the aviation industry, drive infrastructure development, and strengthen corporate governance. For a company operating at the heart of Nigeria's aviation sector, the infusion of legal and financial expertise is expected to bolster its capacity to execute large-scale projects, manage regulatory compliance, and optimise financial performance. The appointments also signal NAHCO's commitment to maintaining the highest standards of corporate governance, a critical factor for investor confidence and long-term sustainability.
As NAHCO enters this new phase of board leadership, the company is well-positioned to build on its strong financial foundation and continue its trajectory of growth. The retirement of Fanimokun and Salman marks the end of an era, but the emergence of Shobayo as Vice Chairman and the appointment of Esan and Omodayo-Owotuga herald a new chapter of strategic leadership. With its unbroken record of dividend payments and a board now fortified with top-tier legal and financial expertise, NAHCO appears poised to strengthen its position as Nigeria's premier aviation ground handling company. For shareholders and industry observers alike, the message is clear: NAHCO is not resting on its laurels but is actively investing in the leadership and governance structures needed to navigate the future with confidence.
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