FBN HOLDINGS PLC Annoumces Board Appointments

FBN Holdings PLC (“FBNHoldings), Nigeria’s leading financial holdings company, has announced the appointments of Mr. Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive directors, while Mr. Otu Hughes has been appointed as a Non-Executive director. These appointments are subject to the approval of the Central Bank of Nigeria (“CBN”).

Speaking on the appointments, the Group Chairman of FBN Holdings Plc, Dr. Oba Otudeko, CFR, said, “On behalf of the board, management and staff of FBNHoldings, I am delighted to welcome the trio of Seni Adetu, Mrs. Juliet Anammah and Otu Hughes to the FBNHoldings board as they bring on board their combined professional experience and expertise of over 97 years, cutting across various industries and institutions of global repute.”

“I am certain that these rich experiences will have immediate and long-term impact on the group and its subsidiaries across Africa and beyond,” he added further.

SENI ADETU

Seni Adetu, a former Managing Director/CEO Guinness Nigeria Plc, has 35 years of private sector experience garnered at the highest levels primarily with John Holt Plc, Coca-Cola International and Diageo (Guinness) Plc in various countries within and outside Africa. He holds a first degree in Chemical Engineering and Masters in Business Administration (with specialization in Marketing), both from the University of Lagos. Adetu was at various times Marketing Director, Coca-Cola Nigeria Ltd, Managing Director of Coca-Cola, and the first African Managing Director/CEO and Executive Vice Chairman of Guinness Ghana Plc.

In 2009, Adetu was appointed Group Managing Director/CEO East African Breweries (EABL), the biggest company in East Africa, based in Kenya, during which time he was named Runner-up Forbes/CNBC CEO of the Year 2012 in East Africa. He was subsequently appointed MD/CEO of Guinness Nigeria Plc and Executive Chairman Diageo Brands Nigeria thus, again becoming the first Nigerian in nearly 20 years to lead that company. Adetu has had working stints in Hungary and the UK and has been exposed to various high-profile leadership courses globally including at the prestigious Harvard Business School.

He has served on the boards of various multinational companies in both Executive and Non-Executive capacity in Nigeria and abroad and was until recently an Independent Non-Executive Director on the Board of Fidelity Bank Plc and Non-Executive Director at APT Pensions Ltd among others.

Adetu is the Founder/Group CEO of Algorithm Media Limited and Ogilvy Nigeria Limited, two leading Marketing Communications agencies in Nigeria, in partnership with WPP, the world’s largest advertising and media agency network. He is a member of many reputable social clubs including the Metropolitan Club Lagos. He is also the immediate past National Vice President of the University of Lagos Alumni Association.

JULIET ANAMMAH

Juliet Anammah is Chairwoman Jumia Nigeria & Head of Institutional Affairs Jumia Group. Jumia is the largest eCommerce platform in Africa and the first African Tech start-up to be listed on the NYSE

She is an experienced executive with 28+ years of professional experience including 7 + years at Partner / Chief Executive level.

Before her current role, she was the CEO of Jumia Nigeria. Prior to joining Jumia, Juliet spent 16 years at Accenture and was the Partner managing Accenture’s Consumer Goods Practice in West Africa.

A Pharmacist by training, she started her career in Sales & Marketing with May and Baker (Sanofi-Aventis) in 1991 before joining Accenture as a Senior Strategy Consultant in 1999.

Juliet also serves on Corporate and non-profit Boards in a non-executive capacity. She is currently on the Boards of Flour Mills of Nigeria and APT Pensions as Independent non-executive member. She is also an EXCO member of Consultative Action Group for the Poor (CGAP) a not for profit agency funded by the World Bank, Bill and Melinda Gates Foundation and several Bilaterial/ Multilateral agencies.

She holds a Bachelor of Pharmacy degree, an MBA (Finance track) and is an alumnus of both Wharton College University of Pennsylvania (AMP) and Yale University.

OTU HUGHES

Otu Hughes has over 25 years’ experience in operations and strategy, principal investment, mergers and acquisition as well as capital raising in both the US and Sub-Saharan Africa. He started his career in 1993 with Lehman Brothers, providing strategic and financial advisory services to government entities and companies in privatisation and empowerment issues, notably Brazil (power and mining), Ghana (mining), South Africa (empowerment programmes), amongst others.

Otu joined Deutsche Bank in 1998 as Associate– Mergers, Acquisitions and Corporate Advisory Group with the oversight responsibilities of providing mergers, acquisitions, corporate and strategic financial advisory services to companies and government agencies across industries and countries, rising to Vice President. He is the Co-founder and Principal of Rofgam/Hughes Consulting and also worked at KeyBanc Capital Markets, amongst many others.

Otu is the Co-Founder & Managing Director of Candesco Limited, set up with the primary responsibility of developing and managing off-grid and independent power projects for Sub-Sahara Africa market, providing affordable, clean and stable power to clusters of communities.

About FBN Holdings PLC

FBN Holdings Plc is a leading African banking and financial services group serving individuals, businesses, organisations and governments in leading markets across the continent and globally. FBNHoldings’ principal subsidiary is First Bank of Nigeria Limited (“FirstBank”), Nigeria’s foremost financial institution and leading banking services provider. FirstBank has forged an incredible partnership with its people and built an enduring heritage through a vast array of seasons and societies, to remain an icon of Gold Standard in today’s financial services industry in Africa and beyond.

FirstBank with operations in 10 countries, with subsidiaries that includes FBNBank (UK) Limited, and subsidiaries in the Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone, and Senegal. FirstBank also has interest in the pension custodian business through its subsidiary, First Pension Custodian Limited.

Others are the Merchant Banking and Asset Management businesses, which comprise FBNQuest Merchant Bank Limited, FBNQuest Capital Limited, FBNQuest Securities Limited, FBNQuest Asset Management Limited, FBNQuest Trustees Limited and FBNQuest Funds Limited.

In the Insurance business line, the 20 year-old Insurance broking Company, FBN Insurance Brokers Limited is a subsidiary of the FBN Holdings Plc offering insurance brokerage and advisory services.

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