Peterside steps down from Nigerian Breweries board, gives reason

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Nigerian Breweries Plc has announced the resignation of Mr Atedo Peterside as a non-Executive Director from its board.

This was disclosed in a notification, which was signed by the firm’s Company Secretary, Uaboi G. Agbebaku and sent to the Nigerian Stock Exchange (NSE) on April 1, 2020.

In the written communication to the NSE and the investing public, Mr Peterside gave a reason for his resignation from the board.

In his explanation, Peterside, who just set up the Anap Foundation COVID-19 Think Tank, following the outbreak of the coronavirus pandemic, told the Board that he resigned in order to focus on fulfilling the objectives of the Think Tank, especially as the pandemic continues to escalate.

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He also informed the board that the resignation took effect on April 1, 2020.

Peterside joined the board of Nigerian Breweries on August 21, 2008, and throughout his stint with the company, served as the Chairman of the Remuneration Committee and also Governance Committee.

Recall that about 3 weeks ago, Mr Peterside boycotted the CBN consultative roundtable session because of the dethronement and banishment of Emir Sanusi Lamido from Kano.

In the letter he sent to the CBN Governor, Godwin Emefiele, he stated that he could not hide his displeasure with the way and manner Sanusi was deposed as the Emir of Kano and eventually banished.

Peterside, who had his basic education at King’s College, Lagos, obtained his B.sc Economics from the City University, London. He also got his M.Sc Economic from London School of Economics.

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He founded Investment Banking and Trust Company (IBTC) in February 1989 and was the pioneer CEO. The CBN’s order on recapitalization led the bank to merge with Chartered Bank and Regent Bank on December 2005. On September 24, 2007, it merged with Stanbic Bank Nigeria to form Stanbic IBTC.

He was the Group Chairman Stanbic IBTC Holdings. He is currently the Chairman of ANAP Business Jets Ltd. He has been the Chairman of Cadbury Nigeria Plc since 2010.