NAHCO Share Price Appreciates as Yakubu Becomes MD/CEO


The share price of Nigerian Aviation Handling Company (NAHCO) appreciated yesterday as the market reacted positively to the appointment of a substantive managing director/chief executive officer (MD/CEO) for the company.

In a notification to the Nigerian Stock Exchange (NSE), NAHCO said Mr. Idris Yakubu has been appointed as MD/CEO effective November 3, 2017.

He replaces Mrs. Folashade Ode, who has been acting as the CEO of the company. The stock appreciated by 2.5 per cent from N3.18 to close higher at N3.26.

The company explained that Yakubu is coming with a vast wealth of experience, spanning 28 years in financial management, leadership, strategy, business development, organisational change and business renewal.

Prior to his appointment as the MD/CEO, Yakubu served as Executive Director, Skye Bank Plc, after many years in Fidelity Bank Plc, United Bank for Africa Plc and Continental Merchant Bank Plc.

“Yakubu has extensive experience in delivering agreed Strategic Business imperatives. A consummate relationship manager, team builder and turnaround specialist, Yakubu was a key member of the Fidelity Bank Consolidation Implementation Team at Fidelity/FSB between October & December 2005 serving as Chairman, Marketing and Products Sub Committee, and was a key member of the team that led the bank to achieve the heights attained, till mid – 2015. He was appointed by the Central Bank of Nigeria as a Member of the Intervention Board to help stabilise Skye Bank Plc and chart its future course following the dissolution of the Bank’s Board by the regulator, in July 2016,” the company said.

Yakubu holds a Masters’ Degree in Banking & Finance (MBF) from the University of Lagos, a Masters’ Degree in Business Administration from Ahmadu Bello University, Zaria as well as a Bachelor of Science Degree in Accounting from the University of Jos. He attended Executive and Management training at Harvard Business School, Oxford Said Business School, INSEAD, Wharton School and Kellogg School of Management, amongst others. He was at the Lagos Business School – Pan Atlantic University for the Advanced Management Program in 2010.

He is an Honorary Senior Member (HCIB) of the Chartered Institute of Bankers of Nigeria (CIBN); Member, Nigerian Chartered Institute of Management (MNIM); Member, Lagos Business School Alumni Association (LBSAA), AIESEC Alumni Nigeria, and the Unijos Alumni Association, where He is National President. He is a Member, Governing Council of the University of Jos, amongst others.