Dangote Sugar Refinery appoints Falade, new CFO

By Oluwaseun Afolabi

Dangote Sugar Refinery announced to investors and the general public that it has appointed Adebola Falade as its new chief finance officer, and she resumed duty on 3rd April 2018.

The company, in a statement released on the Nigerian Stock Exchange (NSE), explained that “ Adebola Falade joined the Dangote Sugar Refinery on the 3rd April 2018 and prior to her appointment, was the Chief Finance Officer of Ecart Internet Services Ltd (Jumia).”

Adebola Falade is described as a graduate of Accounting from the University of Lagos, and a fellow in the Institute of Chartered Accountants of Nigeria who had worked in various organisations, including Afprint Nigeria Plc, Nigerian Bottling Company Ltd, and Guinness Nigeria Plc, where she held various senior post across various operating locations.

Dangote Sugar Refinery published its 2017 fourth quarter (Q4) result and recorded earnings growth of 210 percent year-on-year to N13.3 billion, which has prompted speculations by analysts that Dangote Sugar Refinery could have a very good 2018 and additionally attain a capacity utilisation of 55 percent for the Lagos refinery.