Notore Chemical Industries has announced the appointment of Femi Agbaje as the new chairman of its board of directors.
The appointment comes more than three years after former Nigerian Head of State, Yakubu Gowon, retired from the company’s board on January 28, 2021.
The appointment of Mr. Agbajetakes takes effect immediately.
According to a statement filed with Otivbo Saleh, the Nigerian Exchange Limited, the Group Chief Legal Officer/Company Secretary, said that the appointment would be until the completion of the company’s private placement transaction.
Part of the statement read, Notore Chemical Industries Plc (“Notore” or “the Company”) hereby notifies the Nigerian Exchange Limited and the investing public of the appointment of Mr. Femi Agbaje as the chairman of the board of directors until the completion of the company’s ongoing private placement transaction.
The following outstanding qualities can be credited to Mr. Agbaje, the newly appointed chairman of Notore Agro-allied and Chemicals.
Agbaje obtained a bachelor’s degree in History and Political Science from the prestigious Obafemi Awolowo University, Ile- Ife, Osun State in 1979.
He was made an Associate of the Chartered Association of Certified Accountants in 1984 and is currently a Fellow of the Institute of Chartered Accountants of Nigeria.
He was also made a Fellow of the Chartered Association of Certified Accountants, UK in 1990.
Agbaje began his career in 1979 at Peat Marwick Casselton Elliot & Co, Lagos and later Deloitte Haskins & Sells UK.
Before his appointment, Agbaje was a non-executive director of the company and until September 2018 was its chief financial officer.
Furthermore, Agbaje continued his accountancy career at Arthur Young Oshindero & Moret between 1984 and 1986, after which he went into banking, starting at the Nigerian-American Merchant Bank in 1986 and leaving the industry in 2006 as the managing director of Midas Bank.
He currently sits on the board of FSDH Merchant Bank Limited. Of significance to note is the fact that Notore, which operates in the agro-allied & chemicals sector, recorded a N126.57bn loss at the end of 2023 on the back of a 30.38 percent decline in revenue from N32.30bn to N22.49bn and finance costs, which stood at N102.76bn.
