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Naziru Isyaku Rabiu has resigned from his Executive Director post at BUA Foods PLC less than a year after his appointment.

 

BUA Foods Plc, one of Nigeria’s biggest and publicly-traded food production companies.

More facts have emerged revealing the reasons behind his resignation.

A corporate disclosure that was filed with the Nigerian Exchange (NGX) said the resignation took effect on August 17, 2022. The statement did not offer further explanations.

 

“BUA Foods Plc (the Company) hereby notifies the Nigerian Exchange Limited and the investing public of the resignation of Isyaku Naziru Rabiu as a Director on the Board of Directors of the Company with effect from 17th August 2022,” the brief statement said.

 

However, a source at the company who spoke to us anonymously revealed that Rabiu’s resignation became necessary to enable BUA Foods to meet some regulatory requirements as set by NGEX.

 

Nigeria’s Code of Corporate Governance (on family and interlocking directorship) requires that “not more than two members of the same family shall sit on the Board of a public company at the same time,” the source said.

 

In the same vein, the Securities & Exchange Commission (SEC) in Nigeria has a similar requirement under its Corporate Governance Guidelines.

 

Naziru Isyaku Rabiu is the son of Nigerian billionaire Abdul Samad Rabiu, who currently serves as the Chairman and CEO of BUA Group owners of BUA Foods PLC. Already another member of the family is on the Board as an Executive Director.

 

Before he was appointed an Executive Director at BUA Foods Plc in November 2021, he was a director at IRS Pasta & Flour Limited which was later merged with other companies to form BUA Foods Plc. In January 2022, BUA Foods Plc was listed on the Nigerian Exchange. And this necessitated the latest board changes.

 

The source who spoke to us in confidence maintained that Naziru Isyaku Rabiu remains an Executive at BUA Foods in the meantime.

 

The young professional, who holds a bachelor’s degree in Business Economics from the University of Hertfordshire, has held previous positions within the conglomerate, including Commercial Director and Business Development Officer.

 

Naziru had also briefly worked as a business analyst at Seplat Petroleum Development Company Plc, one of Nigeria’s leading indigenous oil exploration firms.

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Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim

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A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.

 

According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.

 

But on Monday, January 16, in the evening, the bank sent back N3,239,400.

 

Recently, the Zenith Bank client shared a post about the refund on her Twitter page.

 

 

Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.

 

“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.

 

“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”

 

She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.

 

Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.

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Primate Ayodele Begins 17 Days Of Appreciation & Philanthropic Impacts, Visits Sick People

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The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has kicked-off a 17-day appreciation and philanthropic impact on Sunday, 29th Of January till Tuesday, 14th Of February, 2023.

Many of his church members had a first-hand experience of the prophet’s philanthropic impact yesterday, Sunday, which marked the beginning of the programme. A good number of youths in the church choir were empowered, surgery fee was paid for 25 people, accommodation fee was paid for 20 people and every member of the congregation were given food items.

 

Today, Monday, which is the second day, Primate Ayodele visited old and sick people in Lagos communities with money, food items, clothing materials, and many more. He also prayed with them and settled some of their needs.

 

The old people couldn’t hold their joy as they passionately hugged the prophet and showered prayers on him for his rare philanthropic act. The very jovial prophet was also seen cracking jokes and playing with some of them just to lighten up their moods.

Till February 14, Primate Ayodele will be visiting several places, institutions, organizations to show gratitude and impact people with cash gifts, prayers, words of encouragement, food items, to mention but a few.

 

This is not the first time Primate Ayodele will be engaging in such philanthropic acts; every 14th of February is a day dedicated for his annual thanksgiving and it has been his culture to engage in massive philanthropic acts on days preceding the D-day.

 

Every February 14 for Primate Ayodele is always the mother of all empowerment. In recent years, the man of God has given out cars, tricycles, thousands of GCE/JAMB forms, scholarships, accommodation fees, school fees, sewing machines, beds, food items, among a host of many others.

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