FTN Cocoa appoints Wale Jubril interim chairman after Oguntimehin’s death

FTN Cocoa Processors Plc has appointed Otunba Wale Jubril as interim chairman of its board following the death of its chairman, High Chief S.O. Oguntimehin.

The company disclosed this in a notice to the Nigerian Exchange Limited (NGX), shareholders and the investing public dated Monday, August 18, 2026.

Oguntimehin died on March 30, 2026. The company said his death was received with profound sadness, noting that his contributions to its growth and development, as well as his leadership of the board, would be remembered.

To ensure continuity in leadership and effective corporate governance, the board approved Jubril’s appointment at a meeting held on July 21, 2026.

His appointment took effect from the same date and will remain in place pending the appointment of a substantive chairman in line with the company’s Articles of Association and applicable regulatory requirements.

Jubril is a banker, chartered stockbroker and corporate executive with more than three decades of experience across banking, capital markets, finance and corporate governance.

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He holds a bachelor’s degree in Industrial Relations from the University of Lagos, obtained in 1988, as well as master’s degrees in Marketing, International Law and Diplomacy, and Economics from the same institution.

He qualified as an authorised dealing clerk of the Nigerian Stock Exchange in 1992 and became a chartered stockbroker the same year.

Jubril later joined Paints and Coatings Manufacturers Nigeria Plc in 2009 as executive director, finance, where he was involved in financial planning, project appraisal, pricing and negotiations, including major oil and gas projects involving companies such as Chevron, NLNG and Total.

The company said he also contributed to financial sustainability through strategic planning, policy development, departmental restructuring and financial management.

In 2021, he joined Float Securities Limited, where he currently serves as managing director/chief executive officer.

Jubril has also served as a non-executive director of FTN Cocoa Processors since 2015, giving him more than a decade of experience on the company’s board.

In November 2022, he was appointed an independent non-executive director of Gateway Mortgage Bank, a mortgage bank wholly owned by the Ogun State Government.

His professional affiliations include the Chartered Institute of Stockbrokers, Chartered Institute of Directors, Institute of Credit Administration and Institute of Chartered Economists of Nigeria. He is also registered with the Securities and Exchange Commission as a Capital Market Operator.

FTN Cocoa said Jubril’s experience in banking, capital markets, financial management, corporate governance and strategic leadership would support the board during the transition.