NAHCO appoints Tajudeen Shobayo Vice Chairman as Fanimokun retires after eight years
By Aboki Forex —
Nigerian Aviation Handling Company Plc has announced the retirement of its Vice Chairman and Independent Non-Executive Director, Akinwumi Godson Fanimokun, after eight years on the board. Tajudeen Omoshola Shobayo, an existing Non-Executive Director, has been appointed as the new Vice Chairman effective July 1, 2026.
The company also disclosed the retirement of Non-Executive Director Taofeeq Oluwatoyin Salman. The changes were detailed in a regulatory filing signed by Company Secretary Bello A. Abdullahi.
Retirement and board changes
According to the company, Fanimokun's retirement became effective on June 15, 2026, while Salman stepped down on June 30, 2026. The board stated that Fanimokun's retirement was attributed to age considerations.
“The Board of Directors of Nigerian Aviation Handling Company Plc wishes to announce the retirement of Mr. Akinwumi Godson Fanimokun, an Independent Non-Executive Director/Vice Chairman, and Mr. Taofeeq Oluwatoyin Salman, a Non-Executive Director of the Company,” the statement noted.
“Their retirement from the Board of Directors is effective from 15th June 2026 and 30th June 2026 respectively after serving on the Board for eight years.”
The company added that Fanimokun remains a significant shareholder in NAHCO despite his retirement.
New appointments and experience
To fill the vacancies, NAHCO appointed Tajudeen Omoshola Shobayo as Vice Chairman with effect from July 1, 2026. The board also approved the appointment of Wolemi Esan and Julius B. Omodayo-Owotuga as Non-Executive Directors, effective the same date.
Esan, a Senior Advocate of Nigeria (SAN), is an experienced legal practitioner with more than two decades of expertise spanning commercial litigation, arbitration, corporate governance, capital markets, mergers and acquisitions, and infrastructure transactions. He has advised corporations, financial institutions, and government agencies on major energy, transportation, and infrastructure projects, including rail, port, and airport concession deals. His academic credentials include an LL.B from Lagos State University, an LL.M from University College London, and an MBA from Durham University.
Omodayo-Owotuga joins the board with extensive experience across Nigeria's power, financial services, and energy sectors. He previously served as Deputy Chief Executive Officer of Geregu Power Plc, where he played a key role in the company's transformation and listing journey. He also held executive positions at Ardova Plc, formerly Forte Oil, as well as the Africa Finance Corporation, Standard Chartered Bank, and KPMG. He currently serves as an Executive Director at First Bank of Nigeria Limited.
Recent share sale by Fanimokun
The board changes come weeks after NAHCO disclosed that Fanimokun sold 2.41 million shares in the company in a transaction valued at approximately N491.2 million. The shares were sold at N203.50 per share through transactions executed on the Nigerian Exchange between May 18 and May 22, 2026.
Following the transaction, his shareholding declined from 7.03 million shares, representing 0.36% of the company's issued shares, to 4.62 million shares, equivalent to 0.21% of NAHCO's total outstanding shares.
For investors, the board refresh at NAHCO brings in seasoned professionals with deep experience in legal, energy, and financial services. The appointments signal continuity as the company navigates the aviation handling business, while the recent share sale by the outgoing vice chairman may draw attention to insider sentiment. The naira impact remains indirect, but stronger corporate governance at listed firms like NAHCO supports broader market confidence.