By Emmanuel Nduka
FBN Holdings Plc, parent company of Nigeria’s oldest lender, First Bank, has announced the appointment of Julius Omodayo Owotuga as a Non-Executive Director.
The disclosure was made in a statement on the Nigerian Exchange Limited website, signed by the Company Secretary, Seye Kosoko.
The bank said the appointment of Owotuga is a seasoned executive with experience in risk management, finance, internal controls and general administration through years of working in the oil and gas industry and the financial sector, has already been approved by the Central Bank of Nigeria (CBN).
Owotuga cuurntly holds the position of Deputy Chief Executive of Geregu Power Plc. He will be representing the interest of Femi Otedola, Chairman of the power generation firm, who last year became the biggest individual shareholder of the holdco.
Owotuga with a boardroom experience, has been an indispensable strategist at the heart of Otedola’s investment empire right from the days of Forte Oil, before it was bought out by Abdulwasiu Sowami in 2019 in a deal worth N64.9 billion and later transformed to Ardova.
“While at Forte Oil, he was a member of the executive management team that restructured a then moribund company into a vibrant Industry player.
“He equally led the capital restructuring, acquisitions, debt capital raise, maiden credit rating and divestment initiatives. Prior to joining Forte Oil Plc, he had responsibility for the Asset and Liabilities Management function at the Africa Finance Corporation,” the document announcing his appointment said.
Also, during his time at KPMG, he acquired working knowledge in power, financial services, as well as oil and gas.
Owotuga who is a CFA CharterHolder, a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Taxation of Nigeria (CITN) and the Institute of Credit Administration, has also attended several executive management and banking specific developmental programmes at leading educational institutions including Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos.
