© Honeywell Group
Group Chairman
Oba Otudeko, CFR is Founder and Chairman of Honeywell Group. He is an entrepreneur and visionary reputed for his highly successful domestic and foreign investments that cut across diverse sectors of the economy. He served on the board of First Bank between May 1997 and December 2010 and FBN Holdings from 2011 to 2021 when he retired as Chairman. He was also the Chairman of Honeywell Flour Mills Plc, FBN Bank (UK) Limited, Fan Milk of Nigeria Plc, Airtel Nigeria, and Nigeria-South Africa Chamber of Commerce (2000 – 2011).
He has, at various times, served on the Boards of Central Bank of Nigeria (1990 – 1997), Guinness Nigeria Plc (1999 – 2003), British American Tobacco Ltd (2001 – 2004) and Ecobank Transnational Incorporated, headquartered in Lome, Togo (2002 – 2010). Between September 2006 and August 2009, he was the 16th President and Chairman of Council of the Nigerian Stock Exchange.
Professionally, he is a Chartered Banker, Chartered Accountant and Chartered Corporate Secretary. He has also attended executive management training programmes at International Institute for Management Development (IMD), Lausanne, Switzerland; Harvard Business School, Boston, U.S.A; then Arthur D. Little School of Management, U.S.A. and The Wharton School, University of Pennsylvania, U.S.A.
As a respected member of the organized private sector, he has, at various times, been entrusted with national and even international assignments. He was Chairman of the Business Support Group (BSG) for delivery of the National Integrated Infrastructure Master Plan (NIIMP). He was Chairman of the National Maritime Authority; Member, Presidential Advisory Council on Nigeria Industrial Revolution Plan; Member, Constituent Assembly responsible for drafting a new Constitution, 1988 to 1989; Council Member, Manufacturers’ Association of Nigeria and a member of the Nigeria/South Africa Bi-National Commission. Outside Nigeria, he was appointed, between 2003 and 2005, the Honorary Consul General of the Republic of Liberia to the Federal Republic of Nigeria. He was Chancellor of the Olabisi Onabanjo University, Ago-Iwoye, Ogun State from 2001 to 2010 and currently serves as a member of the Office of Distinguished Friends of the London Business School (UK).
In further recognition of his many contributions to the economic and social development of Nigeria and his consistent commitment to good causes and the Nigerian nation, Dr. Oba Otudeko’s National Honour was again upgraded to Commander of the Order of the Federal Republic (CFR) in November 2011, having previously been awarded the Officer of the Order of the Federal Republic (OFR) in November 2002 and the Member of the Order of the Federal Republic (MFR) in December 2000.
Managing Director
Obafemi Otudeko is a seasoned investment professional who has led many of HGL's strategic investments and transactions, including the partnership with Bharti Airtel on Airtel Nigeria and subsequent multi-million-dollar divestment from the company; to chairing the IPO committee responsible for the successful capital market listing and capital raising for Honeywell Flour Mills; coordinating the completion, capital raising, and opening of the renowned five-star Radisson Blu Anchorage Hotel in Victoria Island, Lagos (the first Radisson Blu hotel in West Africa) and more recently, the biggest capital market transaction of 2022 - the sale of Honeywell Flour Mills to Flour Mills of Nigeria.
With a career spanning over twenty-five years, he has spearheaded significant initiatives within the Honeywell Group, leading the transformation of the Group into an investment holding company.
As Managing Director, he is responsible for providing strategic direction and oversight to the Group’s portfolio companies and investments. A board operator he has served on the boards of influential companies such as Airtel Nigeria, First Bank of Nigeria Ltd, and Honeywell Flour Mills Plc and is currently a non-executive director of Anchorage Leisures Ltd.
Beginning his career with PricewaterhouseCoopers, Obafemi is a qualified chartered accountant and a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). A member of the UK Energy Institute, Obafemi was the second Vice President of the Nigerian Gas Association between 2011 and 2015. He also serves as a member of the Commonwealth Enterprise and Investment Council.
Married with two children, he is a keen horse rider and polo player, as well as an avid literature and football fan
Chief Investment Officer
Otu Hughes oversees the group’s portfolio by investing, monitoring and managing the Group’s funds and portfolio companies. He has a wealth of expertise spanning over 25 years experience with specialised knowledge in operations and strategy, principal investing, mergers and acquisitions, and capital raising.
His expertise covers both the United States and sub-Saharan Africa. He has previously served as a partner at Iroko Capital where he led the investment banking and financial advisory business of the company. Prior to Iroko, he was Chief Operating Officer of Oceanic Capital Company Limited and Head of the Investment Banking Group.
Before joining Oceanic Capital, Otu gained valuable experience working in the United States with a number of financial institutions including KeyBanc Capital Markets (Investment Banking Group), Deutsche Bank Alex Brown (BT Wolfensohn) (Mergers & Acquisitions Group) and started his banking career with Lehman Brothers’ Natural Resources and Emerging Markets groups. He has successfully advised on over USD12bn of mergers and acquisitions; and USD2bn of financings.
He holds a B.Sc. in Mathematics from Howard University (Honors Program) and an MBA from Harvard Business School.
Senior Adviser, Government Relations
Oluwayemisi Busari is a highly regarded commercial lawyer with extensive expertise across various business sectors. Her exceptional skills in deal advisory and structuring have made her a trusted legal expert in significant cross-border transactions. She has provided invaluable legal support, including capital raising for a multimillion-dollar investment in Nigeria's first GSM operator, project finance legal advisory for a USD100 million national power electrification and transmission project, and successful negotiations of joint ventures and partnerships with international counterparts, One of such was negotiating an international management agreement with a global hotel operator entering the West African market, as well as establishing an energy services joint venture with a prominent global player coming into Nigeria.
Oluwayemisi has held esteemed positions on boards across Africa, including Airtel Nigeria and FBNBank Sierra Leone. With nearly three decades of experience in company secretarial, corporate governance, litigation, and commercial law practices, she is an accomplished legal practitioner. In her current role, she demonstrates exceptional leadership as she manages engagements with government and regulatory bodies, ensuring effective stakeholder management. Previously, she held the position of Head, Group Legal and Regulatory Affairs, overseeing legal activities for the Group and its member companies. Oluwayemisi's management responsibilities also extended to overseeing corporate communications and HR functions at a time. She began her career at Irving and Bonnar/Bentley Edu & Co Law Firm in Lagos, where she excelled and progressed to the role of senior associate before joining the Honeywell Group.
Oluwayemisi holds a Bachelor's degree in Law from the University of Lagos and a Bachelor's degree in English from the University of Ilorin. Following her call to the bar, she furthered her education with a Master of Laws degree from the University of Lagos. Additionally, she pursued a Master's degree in Business Administration (MBA) from the Lagos Business School in partnership with the IESE Business School. Oluwayemisi is a member of the Nigerian Bar Association, the Federation of International Women Lawyers, the Institute of Directors (IOD), and the Institute of Corporate Governance.
In addition to her professional achievements, Oluwayemisi has a strong passion for counseling and mentoring young individuals. She finds joy in guiding and supporting their growth. Outside of work, she cherishes her role as a loving wife and proud mother of three children.
Senior Adviser, Corporate Finance and Infrastructure
Andrew Smith-Maxwell is Senior Adviser, Corporate Finance at Honeywell Group. Andrew is on the Board of Honeywell Flour Mills Plc and is also on the Investment Committee of Itanna.
Andrew Smith-Maxwell has over 25 years of global investment banking experience from some of the world’s leading Investment banks. He has been a partner in Fieldstone Private Capital Group, a boutique investment bank specializing in power and infrastructure projects across Africa.
Prior to that, he led and built up the Energy and Utilities Group at Dresdner Kleinwort Wasserstein, an erstwhile British-based investment bank which is now a member of the global banking group, Commerzbank, where he was responsible for overseeing its teams in the UK, Germany, Asia, Latin America and the United States. He has previously served on the Board of Wessex Water following its acquisition by YTL Power International.
Andrew graduated from Durham University, United Kingdom with a first-class degree in engineering. His working career has been in investment banking focused on energy and infrastructure.
Non-Executive Director
Foluke Oyeleye is a distinguished business leader with over 25 years of extensive experience in corporate finance, corporate governance, strategic business development, and operations management. Her career spans multiple sectors including finance, telecommunications, energy, FMCG, and services, showcasing her versatility and depth of expertise.
Foluke’s impressive career began at FCMB Capital Markets, where she was pivotal in identifying, structuring, and executing high-value mergers, acquisitions, and equity-raising transactions across diverse industries such as energy, manufacturing, and media. Her notable achievements include managing and coordinating some of the first successful privatisation transactions in Nigeria, with values ranging from $56M to $195M.
As one of the co-founders of Econet Wireless, Foluke played a crucial role in conceptualising and developing the business plan, and she was instrumental in securing a $285M national wireless service provider license. Her contributions in the telecommunication industry extended to Telecgsm Limited, where she spearheaded the establishment of the first Nokia service centre in West Africa and facilitated the expansion of franchise stores across the country.
Foluke previously served as Non-Executive Director at NGX Regulation Limited (NGX REGCO) and currently serves as Non-Executive Director on the Boards of First Registrars and Investor Services Limited and NGX Limited.
Foluke holds a Bachelor of Arts (BA) degree in Social Sciences from the University of Durham and an MBA from Harvard Business School. She is recognised as an Associate of the Chartered Institute of Stockbrokers in Nigeria and is a member of both the Institute of Directors (IoD) Nigeria and the United Kingdom (IoD UK). She is also an honorary Fellow of the Institute of Capital Markets Registrars in Nigeria.
Beyond her professional accomplishments, Foluke is an accomplished author and advocate, known for her dedication to fostering business relationships and empowering others. Her passion for service extends beyond the boardroom, reflecting her commitment to making a positive impact in her community and beyond.
Chief Financial Officer
Kemi Adeoye is a financial strategist and advisor with in-depth expertise in finance and experience that cuts across multiple industries. With an over 20 years track record in corporate finance, accounting, tax advisory and treasury management, she brings a wealth of experience to her role. Kemi has played a pivotal role in HGL’s valuable investments and initiatives including developing and owning the partnership with the Bank of Industry, providing financial advisory on the purchase of a majority stake in a port operations company, and leading the finance and tax work-stream on the Honeywell Flour Mills divestment. She was recently appointed as a non-executive director on the board of Ikeja Hotel Plc.
As CFO, Kemi provides guidance and expertise in key financial decisions, ensuring the company's financial objectives are aligned with its broader goals. She is also responsible for risk management and ensuring the adequacy and effectiveness of controls and Internal Audit across the Group.
Prior to Honeywell Group, she worked with Baker Tilly where she led several audit engagements with local and multinational clients across different business sectors. Since joining Honeywell Group in 2006 she has held multiple responsibilities across business functions, including business management, finance, treasury, reporting, budgeting, and risk management.
Kemi holds a first-class bachelor’s degree in Accounting from Oxford Brookes University and an MBA from the Lagos Business School. She is also a member of the Association of Certified Chartered Accountants (ACCA) and the Institute of Chartered Accountants of Nigeria (ICAN).
Head, Governance and Sustainability
Yewande is an influential advocate for governance and sustainability. She brings a wealth of expertise, as well as strategic thinking to guide organisations towards responsible governance practices and sustainable business operations. Yewande’s commitment to sustainability has enabled Honeywell Group operate as a responsible corporate citizen, addressing global challenges and delivering long-term value to all stakeholders. She has successfully spearheaded sustainability initiatives and integrated environmental and social considerations into the company’s business strategies. Yewande boasts 20 years of post-call experience in commercial and company secretarial legal practice.
A chartered Company Secretary, she is responsible for implementing and managing the governance framework for the Group, and ensuring adherence to corporate governance standard ensuring compliance with internal and external rules.
Yewande kickstarted her legal career at Banwo & Ighodalo, a leading full-service law firm in Nigeria before proceeding to Zenon Petroleum & Gas Limited (now Forte Oil Plc) where she held a vital role overseeing legal matters within the real estate unit.
Yewande holds a Bachelor’s degree in Law from Obafemi Awolowo University, Ife, a Master’s degree in Commercial & Corporate Law from the University of London, United Kingdom as well as a Certificate and a Diploma in International Business Law from the University of London. She is a member of the Nigerian Bar Association, the International Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Society for Corporate Governance Nigeria and continues to pursue additional knowledge and development through several trainings focused on finance, corporate governance, company secretarial practice, sustainability, and compliance.
Yewande likes to travel and read. She is married with children.
General Counsel
Olasumbo Abolaji is a seasoned legal expert with two decades of experience in commercial legal practice. She has a comprehensive understanding of legal complexities across various industries and possesses exceptional problem-solving abilities to navigate legal challenges effectively. With a record of providing top-notch legal advisory services, Olasumbo is responsible for legal advisory and dispute resolution functions for all portfolio companies within the Group. Beyond her legal expertise, Olasumbo is a trusted advisor who excels at building strong relationships with key stakeholders, including external legal partners, regulatory authorities, and industry professionals.
As General Counsel, she combines extensive legal knowledge, strategic acumen, and a collaborative approach to protect the organization's legal interests and support its growth objectives. She is also instrumental in drafting, reviewing, and negotiating all commercial agreements, ensuring legal compliance, and mitigating risks.
Olasumbo boasts of an impressive background that includes positions at prestigious law firms in Nigeria and was an associate at Aelex Legal Practitioners & Solicitors, She possesses a bachelor's degree in law from Obafemi Awolowo University, Ife, and a Master's degree from Cornell Law School, New York, United States. She is a member of the Nigerian Bar Association and the New York State Bar Association and has also participated in several trainings in the area of commercial contracts.
Olasumbo likes to travel and watch football. She is an avid supporter of Arsenal Football Club and a fitness enthusiast.
Head, Corporate Services
Tomi Otudeko is a programme delivery expert with a focus on operational excellence within the financial services industry. Combining her nearly twenty years' extensive experience and commitment to results, she has mastered the art of streamlining processes, elevating efficiencies, and ensuring seamless coordination across diverse operational areas. Among her remarkable achievements include her instrumental role in establishing Itanna, Honeywell Group's corporate venture investing platform. Prior to joining Honeywell Group, she successfully led the implementation of integration activities for First Bank of Nigeria across multiple African countries. Notably, her role also as Head, Banking Services Improvement, led to a remarkable annual savings of ~$5 million through successful implementation of various projects aimed at improving service delivery and optimising costs across the bank’s head office operations and 700 strong branch network.
Presently, as Head, Corporate Services, she oversees various functions for Honeywell Group including, strategy and project execution, human resources management, information technology, communications, administration, and facilities management. Tomi has held a number of roles since joining the group. She was Head, Innovation & Sustainability, where she spearheaded the group's innovation and communication efforts, as well as CSR strategy development and implementation.
Commencing her professional journey as a Business Development Specialist at IBM UK, Tomi focused on process and service improvement through strategic outsourcing. Additionally, she excelled as an Investment Manager at Stanbic IBTC Asset Management, offering astute financial management and investment counsel to diverse individual and corporate clientele. Including management of the largest mutual fund in Nigeria and being responsible for managing brokering on a significant private placement investment.
Tomi holds an LLB in Law from King's College London and an MSc in Economics from the University of Manchester. She is also a Prince2 (Practitioner) certified Project Manager, holds a Certificate in Entrepreneurship & Innovation from Stanford University and has completed the Program for Leadership Development at Harvard Business School.
Tomi is a Trustee of SWL Foundation, a non-profit based in Lagos, demonstrating her commitment to making a positive impact beyond her corporate responsibilities.