UACN Property Development Company Plc (UPDC) has notified the investing public of the the resignation of its Chairman, Mr. Babatunde Kasali, and other Non-Executive Directors namely, Mr. Adekunle Awojobi, Professor Okon Ansa and Mrs. Awuneba Ajumogobia from the Board of the Company with effect from 4th January 2021. The Board accepted the resignations and expressed its deep appreciation to the Directors for their contributions to the Board and the Company.
The Company also announced the resignation of Mr Folasope Aiyesimoju as the Chief Executive Officer of the Company with effect from 4 th January, 2021. The Board accepted his resignation and expressed its profound gratitude to Mr. Aiyesimoju for his effective leadership during his tenure as Chief Executive Officer. Mr. Aiyesimoju will continue to serve as a Non-Executive Director of the Company.
The Company is pleased to announce the appointment of Mrs. Deborah Nicol-Omeruah as Acting Chief Executive Officer of the Company with effect from 5th January, 2021.
Mrs. Nicol-Omeruah, has 20 years’ experience in real estate and banking with specialization in Property Development, Finance & Acquisitions; Mortgages; Private Banking and Investment Planning in the United Kingdom and across Africa. Her prior leadership roles include Africa Account Director for Broll Property Group; Chief Operating Officer for Landmark Africa, and Head, Property Finance and Acquisitions for Stanbic IBTC Bank.
Mrs. Nicol-Omeruah is a Real Estate Professional and a Certified Mortgage and Financial Adviser (CeFA, CeMAP) of the Institute of Financial Services in the United Kingdom. She is a recognized industry expert in the Nigerian mortgage and real estate development market. She holds a BArch Architecture from the University of Nottingham. She was appointed Deputy Chief Executive Officer and Executive Director of UPDC on 3rd December, 2019.
UPDC is the largest real estate platform listed on The Nigerian Stock Exchange. The Company has been a leader in property acquisition, development, sales and management of quality and affordable residential, commercial, and retail properties in Nigeria for over 20 years. In 2020, Custodian Investment PLC acquired 51% of UPDC’s issued share capital from UAC of Nigeria PLC and is now the Company’s largest shareholder