Business
FCMB appoints Adebajo as Independent Non-Executive Director
FCMB Group Plc has appointed the former Chief Executive Officer at Lafarge Africa Plc, Adepeju Adebajo, as an Independent Non-Executive Director on its board.
The group disclosed the appointment in a statement posted on NGX and signed by its secretary, Olufunmilayo Adedibu, on Friday, stating that her appointment will strengthen the board and support the transformation goals across the group.
“FCMB Group Plc (the Company) wishes to notify Nigerian Exchange Limited (NGX) and the general public that the Central Bank of Nigeria has approved the appointment of Mrs. Adepeju Adebajo as an Independent Non-Executive Director on the Board of FCMB Group Plc.
“Mrs Adebajo’s appointment is intended to strengthen the Board and support its transformation goals across the Group,” the statement read.
Profile
Mrs Adebajo holds a Master’s and a Bachelor’s Degree in Chemical Engineering from Imperial College London and an MBA from Harvard Business School.
She chairs the board of the Lagos State Employment Trust Fund and is a Transformation Lead at Etex Group (Nigerite and Emenite Limited).
Mrs Adebajo brings over 30 years of experience across industry, renewable energy, agriculture, finance, and consulting.
READ ALSO: FCMB achieves N500 billion recapitalisation target as capital raise ends
According to the group, the new non-executive director has worked with teams and clients in Sub-Saharan Africa and Europe, helping them grow and multiply impact.
Throughout her career, Mrs Adebajo has led teams through change and growth. She was previously the Chief Executive Officer (CEO) of Cement at Lafarge Africa Plc, the CEO of Mouka Limited, the CEO of Lumos Nigeria, the CEO of UTC Nigeria Plc, and an Assistant General Manager at United Bank for Africa Plc.
In 2025, Mrs Adebajo founded Climate Governance Initiative Nigeria, affiliated with the World Economic Forum, and serves on the World Economic Forum Council on Climate and Nature Governance (2025-2027).
The Federal Government has paid outstanding severance benefits to 2,100 former workers of the defunct Nigeria Airways, more than two decades after the national carrier was liquidated.
The payment covers beneficiaries in Batches 1 to 7, according to a statement issued by the Federal Ministry of Finance on Friday.
Another 600 former workers in Batches 8 and 9 are being processed for payment and are expected to receive their benefits within days, bringing the total number of beneficiaries under the exercise to 2,700.
The ministry said the benefits across the nine batches amount to N18 billion.
Nigeria Airways, which was established in 1958 as the country’s national carrier, ceased operations in 2003 and was liquidated in 2004. Many former workers subsequently spent years pursuing unpaid terminal and severance benefits.
The latest payment follows years of demands by former workers and interventions by the National Assembly and successive administrations over the outstanding liabilities.
In January 2025, the National Assembly Joint Committee on Aviation said the Federal Government owed former Nigeria Airways workers N36 billion and threatened to withhold approval of the aviation budget unless provisions were made for the payment.
How the payment was made
The Ministry of Finance said President Bola Tinubu had earlier approved the settlement of the outstanding severance obligations and directed that the matter be concluded.
Under the direction of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the ministry said processes were undertaken to identify eligible beneficiaries, validate records and establish the financial obligations before payments commenced.
Mr Oyedele said the payment was part of the government’s effort to address legitimate outstanding obligations.
“Behind these figures are people and families who have waited for years to receive what is legitimately due to them,” he said.
“Our responsibility is to confront outstanding obligations, complete the necessary processes and, once the resources are secured, ensure that the people affected feel the impact of government positively.”
He said the exercise demonstrated what could be achieved when government institutions worked together to resolve longstanding issues.
READ ALSO: NASS panel threatens to withhold aviation budget until Ex-Nigerian Airways workers are paid
The ministry also acknowledged the involvement of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, and the National Assembly Joint Committees on Aviation in efforts to resolve the matter.
The ministry said the objective was to ensure that legitimate beneficiaries received their approved entitlements while maintaining safeguards around public funds.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
-
Featured2 days agoChildren Are Suffering in Silence: Plateau Child Protection Network Rates Abuse Crisis 9/10
-
News4 days ago
Africa’s U20 Women’s World Cup Campaign Under Pressure as Benin, Tanzania Suffer Heavy Defeats
-
News4 days ago
Ogun, Kano, Delta top Nigeria’s highest Right of Way charges for fibre – Technology Times
-
Business4 days ago
Education Ministry Automates Certificate Evaluation, Authentication Process
