BUA Foods Plc, Nigeria’s largest indigenous Foods company, has announced the resignation of Isyaku Naziru Rabiu, as an Executive Director of the company effective August 17, 2022.
The announcement of Isyaku Rabiu’s resignation, The Nation learnt is contained in a regulatory filing by BUA Foods Plc with the Nigerian Exchange. Analysts believe that the development arose as a necessary step for the company to meet the regulatory requirements of the Securities & Exchange Commission Corporate Governance Guidelines (2020) and the Nigerian Code of Corporate Governance on family and interlocking directorship, which 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 transmuted to a publicly listed company as BUA Foods Plc in January 2022, Isyaku Naziru was a Director of IRS Pasta & Flour Limited which later merged with other companies to form BUA Foods.
Isyaku Naziru Rabiu, however remains an Executive of BUA Foods Plc with his portfolio remaining unchanged.
Isyaku Naziru Rabiu holds a degree in Business Economics from the University of Hertfordshire and held other previous roles within the organisation, including as Commercial Director of IRS Pasta & Flour Limited.