Board and Management Team

Board of Directos and Management Team

The board and management team of Riggs Ventures West Africa Plc consist of the following people:

Chief Rasheed Alaba Williams                                     -              Chairman
Mr. Yomi Tokosi                                                         -              Managing Director/CEO
Bashorun A. Adebayo Ajao                                         -              Director
Chief Kanu Ralph Obioha                                            -              Director
Mr. Takashi Bufford (Japanese-American)                 -              Director
Alhaji Musbahu El-Yakub                                            -              Director
Captain Kola Awosika                                                  -              Director
Mrs. Olatokunbo Yomi-Tokosi                                    -              Director
Mr. Dike Awa                                                               -              Head, Compliance & Risk Mgt.
Mr. Mark Ojo                                                               -              General Manager, Operations
Mr. Velu Palanichamy (Indian)                                    -              Production Manager
Mr. Johnson Faseki                                                      -              Plant Engineer
Mr. Idris Yoosuf                                                           -              Head, Accounts
Miss Olayinka Yomi-Tokosi                                        -              Head, Strategy & Planning
Mr. Yomi Williams                                                       -              Head, Special Duties
Mr. Chukwuemeka Mbagwu                                       -              Head, Corporate Services

Principal Advisers:
Jade & Stone Solicitors                                                -              Company Secretary/Legal Adviser
Sylvanus Efidi & Co.                                                   -              Financial/Management Consultants
Felix Oko & Co                                                           -              Auditors
Bag Solutions Worldwide (BSW)  Austria                  -              Technical Advisers

Ownership Structure

Riggs Ventures West Africa Plc, (the company) has 645 shareholders, who own 880,395,546 ordinary shares (fully paid-up) out of its authorized share capital of 2,000,000 ordinary shares of 50kobo each.

Profile of Board Members

Chief Rasheed Alaba William   (Chairman)

A foremost insurance practitioner and major player in the Nigerian socio-economic cum political scene, Chief Williams is the Executive Chairman of Lombard Insurance Company Limited. He was Director of Continental Re-Insurance Plc, Indemnity Finance Limited, Nigeria Liability Insurance, United African Re-Insurance Brokers Ltd and Equity Bank as well as a director of several leading blue chip companies. He was a Former President of Chartered Insurance Institute of Nigeria and also a former Chairman of Peoples Democratic Party (PDP) in Lagos State. Chief Williams is a Fellow of the Chartered Insurance Institute of Nigeria and Associate of Chartered Insurance Institute of the United Kingdom.

Mr. Yomi Tokosi   (Managing Director/CEO)

Yomi Tokosi is a graduate of Howard University, with a B.Sc. (Chemistry), postgraduate diploma in Business Strategy and Industrial Relations from the University of California and a Master of Business Administration (MBA) with a bias for finance from the University of Southern California. He has, to his credit, 20 years of banking experience culminating as the Managing Director and Chief Executive of First African Trust Bank. He joined the business world shortly after leaving the banking industry and has been active in structured financing and corporate restructuring.

Bashorun A. Adebayo Ajao   (Director)

A foremost insurance practitioner and major player in the Nigerian socio-economic cum political scene, Chief Williams is the Executive Chairman of Lombard Insurance Company Limited. He was Director of Continental Re-Insurance Plc, Indemnity Finance Limited, Nigeria Liability Insurance, United African Re-Insurance Brokers Ltd and Equity Bank as well as a director of several leading blue chip companies. He was a Former President of Chartered Insurance Institute of Nigeria and also a former Chairman of Peoples Democratic Party (PDP) in Lagos State. Chief Williams is a Fellow of the Chartered Insurance Institute of Nigeria and Associate of Chartered Insurance Institute of the United Kingdom.

Chief Kanu Ralph Obioha   (Director)

A renowned business mogul and industrialist, Chief Ralph Obioha is a qualified Accountant, trained at the Howard University, Washington, USA.  He has been involved in business and finance and has held several directorships in various companies. He is the Chairman of Safari Hotels Ltd.  He was also Chairman of First African Trust Bank.

Mr. Takashi Bufford (Japanese-American)   (Director)

Mr. Bufford, a 1974 graduate of Howard University, Washington DC, USA, was awarded Doctorate of Jurisprudence from the University of California in June 1978. He worked briefly as State Attorney in Pennsylvania before establishing his own law firm in Los Angeles, California. He has since been involved in film production and funding of several companies in the country.

Musbahu El-Yakub   (Director)

Musbahu El-Yakub is an exceptional scholar, who holds a Bachelors (B.SC.) and Masters (M.SC) degrees all in Physics. He also obtained a Masters of Business Administration (MBA) from Ahmadu Bello University. A former Senior Bank Manager with Liberty Bank Plc and ex-General Manager in Dangote Group incharge of Obajana Cement Factory, Mr. El-Yakub is presently, the Chairman of Maycom Technologies Limited, a fast growing IT company.

Captain Kola Awosika   (Director)

Captain Kolawole Awosika is a highly experienced pilot, trained in one of the best Flying Schools, the Burnt-Side Oat Training Institute, Florida, U.S.A. He qualified as a pilot in 1975 and has been a civil aviation captain for over two decades

Profile of Key Management Staff

The Management of Riggs Ventures West Africa Plc consists of highly efficient team of professionals with diverse experience headed by the Managing Director who reports directly to the Board of Directors. This team is made up of:

Yomi Tokosi   (Group Managing Director / CEO)

Yomi Tokosi is a graduate of Howard University, with a B.Sc. (Chemistry), postgraduate diploma in Business Strategy and Industrial Relations from the University of California and a Master of Business Administration (MBA) with a bias for Finance from the University of Southern California.  He has, to his credit 20 years of banking experience culminating as the Managing Director of First African Trust Bank.  He joined the business world shortly after leaving the banking industry and has been active in structured financing and corporate restructuring.

Dike Awa   (Group Head, Compliance & Risk Management)

Mr. Dike Awa has more than 22 years post-graduate experience, spanning through banking, portfolio management and auditing. A distinguished scholar, Mr. Awa obtained a First Class (Hons.) degree in Mathematics/Statistics from the University of Calabar as well as Masters of Business Administration (MBA) with specialty in Finance from the University of Lagos.  He is also an Associate Member of the Institute of Chartered Accountants of Nigeria (ICAN).  He was a former Bank Manager for many years at Allstates Trust Bank Plc, before his engagement with our firm

Taofeek O. Hassan   (Production Manager, Sacks Division)

Mr. Taofeek Hassan holds a Bachelors of Science (B.Sc.) in Chemistry as well as a Master of Business Administration (MBA) with bias in Marketing all from the University of Lagos. He has over 12 years of technical and managerial experience, garnered in the course of service with Nigeria Bag Manufacturing Company (BAGCO), where he rose to the post of Production/Operations Manager, prior to his engagement to head the sack manufacturing arm of Riggs.

Idris Yoosuf   (Group Head, Accounts)

Mr. Idris Yoosuf holds a Bachelors of Science (B.Sc.) from the University of Lagos.  He is also a student member of Association of Certified Chartered Accounts of the United Kingdom.  Since joining our services he has risen through the ranks and gained the mastery of his responsibilities.

Olayinka Yomi-Tokosi   (Group Head, Strategy & Planning)

Miss Olayinka Yomi-Tokosi studied at Vincennes University, Indiannapolis, University of Texas at Austin and University of Miami Business School, Coral Gables, Florida, all in the United States. She holds an Associate of Science in Chemical Engineering, a Bachelor of Arts in Economics and a Master of Business Administration (MBA), specializing in Finance and International Business.  Prior to her return to Nigeria to take up her present position in our organization, Miss Yomi-Tokosi had worked in several leading blue chip companies in the US and her last position was that of a Senior Financial Analyst with Sony Pictures Entertainment, Miami Florida

Yomi Williams   (Executive Assistant to the CEO)

Mr. Yomi Williams is a graduate of Bradford University, UK where he obtained a Bachelors of Arts Degree in Business Studies.  Prior to joining our company, he has garnered valuable working experience working in reputable local and international firms which are involved in private equity investments, insurance, and petroleum marketing

Chukwuemeka Mbagwu   (Head, Corporate Services)

Mr. Chukwuemeka Mbagwu holds a Higher National Diploma of The Federal Polytechnic Nekede, Owerri.  He is also a Member of the Nigerian Institute of Management. Prior to joining the services of our company, he has worked variously as an Administrative Secretary in several leading trade promotion organizations as well as other reputable corporate firms in the organized private sector.

Related Businesses

The company’s major promoter has interests in two (2) Bureaux de Change, namely; Yellema Bureau De Change and Credit Units Nigeria Ltd (BDC).  The operational offices of these two BDCs is the company’s head office at Plot 5 Imam Abib Adetoro Street, Victoria Island, Lagos

Snapshots of our Facilities