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Tag: Royal Exchange Plc

  • Royal Exchange reshuffles board

    Royal Exchange reshuffles board

    Royal Exchange Plc has reshuffled its boar, appointing Ikeme Osakwe as its new chairman. This is as it further strengthens its leadership team amid the ongoing repositioning exercise.

    In notifications to the Nigerian Exchange Limited and the Securities and Exchange Commission (SEC), dated January 22, 2026, the organization said Osakwe’s appointment followed the retirement of Kenny Ezenweani Odogwu with effect from the above date.

    Following the changes, the board now consists of Ikeme Osakwe (Chairman), Chief Anthony Idigbe, SAN, Senator Sanusi Mohammed Daggash, Mr. Ezekiel Onilude, Ms Pamela Yough, Mr. Afolabi Caxton and Mrs. Idu Okeahialam (Managing Director).

    Addressing investors, shareholders, employees and other market participants, the new chairman described the board changes and ongoing restructuring as important steps in advancing Royal Exchange PLC’s strategic objectives, towards creating a sustainable, improved results for all stakeholders.

    Osakwe is a seasoned public and private sector financial management specialist with extensive experience in corporate governance and public finance. He holds bachelor’s and master’s degrees from the University of Oxford and is an Associate Member of the Institute of Chartered Accountants in England and Wales and a Fellow of the Institute of Chartered Accountants of Nigeria.

    He currently serves on the boards of Oando Plc and other organizations and previously served on the Governing Board of the Federal Inland Revenue Service, where he chaired the Board Committee on Revenue and Finance. The Board is confident that he will provide strong leadership in advancing the Company’s strategic objectives and corporate governance standards.

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    Last year, the organization appointed veteran financial expert, Idu Okeahialam, as Group Managing Director (GMD) and Chief Executive Officer as part of measures to strengthen its next growth phase.

    Reaffirming its commitment, Idu said the group’s dedication to excellence and customer satisfaction remains steadfast, adding that new initiatives have been launched to boost strong long-term growth, including resuscitation of its trustee business.

    In the financial year ended March 31, 2025, Royal Exchange Plc posted a profit after tax of N497 million, while interest income rose to N143.7 million. Shareholders’ fund increased to N7.17 billion and total assets was N9.69 billion.

    With a solid shareholder base, the company says it remains confident that its current growth plan would achieve its short-to-long term goals. Its current subsidiaries/associates companies include REFCO 100%, REX – 40%, REMFB- 30% and DOT HMO – 30 per cent.

  • New management team outlines growth plan

    New management team outlines growth plan

    New management of Royal Exchange Plc, asset management company in Nigeria, has reiterated its determination to transform the organisation into a world class business leveraging on the trust it has built in the market over the decades.

     The assurance follows appointment of Mrs. Idu Okeahialam, as group managing director.

     Her appointment and the restructuring of the group is expected to bring fresh perspectives and expertise, driving growth and innovation in the company in line with its mission to evolve as a leading financial services firms.

    The vision will entail a strategic restructuring of operations while a comprehensive and integrated rebranding project would also be undertaken.

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    This drive will be further boosted by growth of the share price from N0.64 in May to N2.26 in August, a leap that reflects investor confidence following strong financial performance and good management.

     Idu outlined present and future plans to include technological upgrades, human capital development, risk management, product development and enhancement and diversification, among others.

    She said: ‘‘With the new appointment and strong share price, Royal Exchange will continue its success and growth. Our commitment to excellence and customer satisfaction remains unwavering.’’

     The company, she said, is reinstating and reviving its trustee business, a move designed to enhance service offerings as well as providing value-added solutions to its clients.

     With a solid shareholder base, the company is confident its growth plan would achieve its short-to-long term goals. The current ownership structure of Royal Exchange Plc is Royal Exchange Finance Company, a fully owned subsidiary, with REX Insurance, Royal Exchange MFB, and DOT HMO as affiliate companies.