Connect with us

BUSINESS

Rabiu resigns from board of BUA Foods

Published

on

BUA Foods Plc, an indigenous foods company, has announced the resignation of Mr Isyaku Rabiu, as executive director of the company.

The resignation, which was effective August 17, was contained in a regulatory disclosure by the company to the Nigerian Exchange Ltd. (NGX).

According to the disclosure, the development was in order for the company to meet the regulatory requirements of the Securities and Exchange Commission Corporate Governance Guidelines (2020) and the Nigerian Code of Corporate Governance.

The guideline on family and interlocking directorship stipulates that not more than two members of the same family shall sit on the board of a public company at the same time.

“Prior to his appointment as a member of the Board of BUA Foods in November 2021 (which later became publicly listed BUA Foods Plc in January 2022), Rabiu was a Director of IRS Pasta and Flour Limited.

“The company later merged with other companies to form BUA Foods.

“He, however, remains an executive of BUA Foods Plc with his portfolio remaining unchanged,” the disclosure read.

tribune news paper

Rukayat Moisemhe

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

JoinOurWhatsAppChannel

Website Designed By DEBORIAN.COM, a Nigerian Web Designer and Web Developer -