Julius Berger Nigeria Plc has strengthened its corporate governance structure with the appointment of two new directors, days after shareholders approved a dividend payout and key board-related resolutions at the company’s 56th Annual General Meeting (AGM).
The company, in separate disclosures to the Nigerian Exchange Ltd. (NGX), announced the appointment of Dr Muiz Adeyemi Banire, SAN, as a Non-Executive Director and Mrs Chinazo Okoye as an Alternate Director.
The appointments were approved at a meeting of the Board of Directors on June 17.
Banire’s appointment takes effect from July 1, while Okoye was appointed Alternate Director to Dr Ernest Nnaemeka Azudialu-Obiejesi, OFR.
The appointments came as shareholders endorsed a series of governance and financial resolutions at the company’s 56th AGM held on June 18 in Abuja.
At the meeting, shareholders approved a dividend of N4.25 per 50 kobo ordinary share for the 2025 financial year, with payment made on June 19.
They also approved the re-election of Mr Chidi Anya, Esq., Amb. Adamu Saidu Daura, MFR, and Engr. Jafaru Damulak as Non-Executive Directors, reinforcing continuity in the company’s leadership structure.
Shareholders further authorised the board to fix the remuneration of the company’s auditors and approved the composition of the Statutory Audit Committee for the financial year ending Dec. 31, 2026.
The committee comprises Mr Ernest Chukwudi Ebi, MFR, FCIB, FIOD, and Mr Chidi Anya as board representatives, alongside shareholder representatives Chief Timothy Ayobami Adesiyan, HRH Sir Sunday Nnamdi Nwosu, KSS, JP, and Brig.-Gen. Emmanuel Ebije Ikwue (Rtd.), GCON.
The AGM also approved annual directors’ fees of N20 million for Non-Executive Directors and N28 million for the Chairman, effective Jan. 1, 2026, pending further review.
Julius Berger said the appointment of Banire and Okoye would bring additional expertise in law, corporate governance, engineering, finance and business management to the board.
Banire, founder and principal partner of M.A. Banire & Associates, is a Senior Advocate of Nigeria and holds bachelor’s, master’s and doctoral degrees in law from the University of Lagos. He has served in legal practice, academia and public service, and currently serves as Pro-Chancellor of the University of Uyo.
Okoye holds degrees in mechanical engineering from the University of Michigan and Cornell University, as well as a master’s degree in professional accountancy from the University of London. She is a Chartered Certified Accountant and currently serves as Managing Director of Amaranta Trading Limited.
The latest board appointments, alongside the resolutions adopted at the AGM, underscore Julius Berger’s focus on strengthening governance, enhancing oversight and positioning the company for sustained growth in Nigeria’s construction and infrastructure sector.