The Nigerian Aviation Handling Company (NAHCO) Plc has appointed legal expert Wolemi Esan (SAN) and First Bank of Nigeria Limited Executive Director, Dr Julius Omodayo-Owotuga, as Non-Executive Directors as part of efforts to strengthen its board with expertise in finance, governance, infrastructure and corporate law.

The appointments were announced in a statement issued on Sunday by the company’s Secretary, Bello Abdullahi.

According to the statement, the appointments took effect on July 1, 2026, following the retirement of former directors Akinwumi Godson Fanimokun and Taofeeq Oluwatoyin Salman.

NAHCO also named Tajudeen Omoshola Shobayo as Vice Chairman, succeeding Fanimokun, who retired after serving eight years on the board.

The board approved the appointment of Wolemi Esan (SAN) and Dr Julius B. Omodayo-Owotuga as Non-Executive Directors, while Tajudeen Shobayo was appointed Vice Chairman with effect from July 1, 2026.

The company said Fanimokun remains a significant shareholder despite his retirement, adding that his exit from the board was based on age considerations.

NAHCO described Esan as a legal practitioner with more than two decades of experience advising corporations, financial institutions and government agencies on commercial disputes, arbitration, corporate governance, capital markets, mergers and acquisitions, and infrastructure projects.

The company noted that he has advised on several transportation and infrastructure transactions, including rail, port and airport concession projects, and has been recognised by international legal ranking organisations such as Chambers Global, IFLR1000 and Legal 500.

Esan holds a Bachelor of Laws degree from Lagos State University, a Master of Laws from University College London, and a Master of Business Administration from Durham University.

On Omodayo-Owotuga, NAHCO said he brings extensive experience in banking, infrastructure finance, energy, governance and corporate transformation.

He currently serves as an Executive Director at First Bank of Nigeria Limited and has previously held senior leadership positions across the banking and energy sectors.

The appointments come on the heels of a strong financial performance by the company.

At its recent Annual General Meeting, shareholders approved the payment of ₦12.18 billion in cash dividends and the distribution of 278.44 million ordinary shares of 50 kobo each as bonus shares for the 2025 financial year.

The cash dividend represents an increase from the ₦11.58 billion paid for the 2024 financial year, marking the fifth consecutive year of increased dividend payouts.

Shareholders received a dividend of ₦6.25 per share for the 2025 financial year, up from ₦5.94 per share in 2024.