Thomas Etuh takes over at Notore as company undergoes management changes (2024)

Notore Chemical Industries Plc has undergone significant management changes, evidenced by the resignation of seven non-executive directors and the Group Deputy Managing Director, as of May 31, 2024.

This is as former Unity Bank and Veritas Kapital Assurance Chairman, Thomas Etuh takes over as the Chairman.

He replaces Femi Agbaje, older brother of Segun Agbaje as the Chairman of the company’s board.

This was contained in a corporate notice by the company seen by Nairametrics.

The notice also contained the appointment of new board members, including a new Deputy Managing Director.

List of the resigned Directors

Mr. Femi Agbaje – Until his resignation, he served as the chairman of the board as well as a non-executive director. He is a chartered accountant, with working experience spanning commercial and investment banking.

Mr. Onajite Okoloko – the CEO of Notore Chemical Industries between 2005 and 2021, resigned in 2021 to become Non–Executive Director of the company.

Mr. Ebiaho Emafo – Prior to his resignation, he was the Deputy Managing Director and the Chief Operating Officer of the company. Before joining Notore Plc, he served as the Managing Director and CEO of Eroton E & P.

Engr. Michael Orugbo – He joined Notore Chemical Services in May 2006, after more than 30 years of engineering experience in the oil and gas sector.

Mr Michael Osime – the CEO of ICMG Securities Limited and the Chairman of Broadband Technologies Limited.

Mr. Ikeme Osakwe – A chartered accountant with over 40 years’ of experience in financial, strategic and corporate planning. He also serves on the board of Oando Plc and was a former board member of FIRS.

Mr. Mike Jansa – Founding partner of Emerging Capital Partners. In addition to Notore, he has also served on the boards of Pan African Energy Corporation (West Africa Upstream Oil and Gas), Wentworth Resources Limited (East Africa Upstream Oil and Gas), Ocean & Oil Investments Limited (Nigerian Integrated Energy Company), and SOMDIAA Group.

Mr. Omar Taha – He is currently the Director of Corporate Business Development & Investments at OCI N.V., a global leader in producing and distributing hydrogen products, including fertilizers, fuels, and feedstock for agricultural, transportation, and industrial customers worldwide.

New Appointments

• Thomas Etuh (Board Chairman): He is the founder of the Tak Group of Companies, which also features fertilizer-producing firms. He has served as the Chairman of Unity Bank, as well as Chairman of Veritas Kapital Assurance.
• Mr Danjuma Etuh (Deputy Managing Director): He began his career with TAK Continental Limited in 2004, serving as the company’s Business and Operations Manager. In 2007, he transitioned to TAK Agro & Chemical Limited, where he took on the role of Executive Director of Operations.
• Mr. Henry Imasekha (Non-Executive Director): He is a chartered accountant with a career encompassing credit and marketing, corporate banking, investment banking, and treasury management. He served as the Executive Director of Investment Banking with UBA when it became newly privatized.
• Mr. Femi Edun (Non-Executive Director): He is a director on the board of 9Mobile, and also serves as an Independent Non-Executive Director on the board of Chevron Closed Pension Fund Administrators. He is presently the chairman, board of directors at Craneburg Construction Limited.
• Mrs. Vivien Shobo (Non-Executive Director): She served as the CEO of Agusto & Co between 2003 and 2019. In 2020, she was awarded the “African Banker Icon Award” by the African Banker Awards Committee.
• Mr. Nelson Ugbede Attah (Non-Executive Director): He currently serves as the CEO of Lighthouse Capital Limited, prior to that, he was the Head of Investment at Veritas Glanvills Pensions Limited.
• Mr Theophilus Danjuma (Non-Executive Director): Son of famous Nigerian general, TY Danjuma. He serves on the boards of TY Towers, South Atlantic Petroleum, TY Logistics Park, TY Danjuma Foundation, Drilling, Petro Dynamics, TY Danjuma Family Office, NAL Comet Group, the Wheatbaker Hotel, TY Holdings Limited, Danjuma Collection/Grace Gallery, and Stirling Trust Company Limited.
• Mr. Ishaya Danjuma (Non-Executive Director): Another son of General TY Danjuma. He holds directorships at Wheatbaker Investments & Properties, Beverly Development & Realties, Dangil Holdings, TY Holdings Limited, Apave Nigeria Limited, NAL – Comet Group of Companies Limited, Dominion Rice and Integrated Farms Limited, Unitrust Limited, Capital Club West Africa, Industrial & Medical Gases Nigeria Plc, South Atlantic Petroleum, and TY Danjuma Foundation.