Royal Exchange appoints Geoffrey Ohen as Non-Executive Director

Royal Exchange Plc has appointed Dr. Geoffrey C. Ohen as a Non-Executive Director of the company, effective July 23, 2026.

The appointment was disclosed in a regulatory filing signed by Lovelyn Aniekwe on behalf of the Company Secretary, OOT Nominees Ltd., and filed with the Nigerian Exchange (NGX).

According to the company, Ohen successfully completed the required processes ahead of his appointment.

What they are saying

Royal Exchange said Ohen possesses the experience and expertise required to contribute meaningfully to the Board and support the company’s growth and strategic objectives.

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• “Royal Exchange Plc wishes to inform Nigerian Exchange Limited, its shareholders and the investing public that the Board of Royal Exchange Plc has appointed Dr. Geoffrey C. Ohen as a Non-Executive Director of the Company effective Thursday, July 23, 2026.”

The company expressed confidence that his appointment would strengthen the Board’s strategic leadership as it pursues its expansion initiatives.

Ohen’s profile

Ohen is the Managing Director and Chief Executive Officer of the Geoff Ohen Group and holds several board-level positions.

He is Chairman of Consolidated Resources Ltd, Ekocorp Plc, Owa Oil & Gas Ltd and Networth Group, which comprises Networth Securities & Finance Ltd and Networth Portfolio & Asset Management Ltd.

He previously served as Chairman of Piccadilly Insurance Ltd and New Patriot Building Society Ltd, and as a Director of Daily Times of Nigeria Plc.

Royal Exchange said his strategic vision, business expertise and operational experience would support the company’s leadership and expansion strategy.

Get up to speed

The appointment comes after Royal Exchange reported a sharp decline in profitability in its first-half 2026 financial results.

• The financial services group recorded a profit before tax of N87.72 million for the six months ended June 30, 2026, representing a 94.2% decline from the N1.51 billion recorded in the corresponding period of 2025.
• The decline was largely driven by weaker operating income and a significant reduction in the contribution from the group’s associate.
• Royal Exchange recorded N315.48 million as its share of profit from its associate during the period, compared with N1.55 billion a year earlier.

For the second quarter, profit before tax stood at N100.88 million, down from N757.40 million in Q2 2025.

What you should know

Earlier in 2026, Royal Exchange appointed Ikeme Osakwe as its Group Chairman following the retirement of Kenny Ezenwani Odogwu.

Odogwu’s retirement brought an end to his 28-year tenure on the company’s Board, including 18 years as Chairman, during which he oversaw Royal Exchange’s transformation into a diversified financial services group.

The company said its renewed leadership structure is focused on driving expansion across its diversified portfolio.