UPDC Appoints Francis Akinyemi Falola as Chief Financial Officer

UPDC Plc, a leading real estate investment company listed on the Nigerian Exchange, has announced the appointment of Mr. Francis Akinyemi Falola as its new Chief Financial Officer (CFO), effective June 16, 2025. The announcement follows the resignation of the former CFO, Mr. Grant Akata.

Mr. Falola, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), brings more than two decades of experience in finance, accounting, and corporate financial management. He holds a bachelor’s degree in accounting from Ogun State University (now Olabisi Onabanjo University) and an MBA from Lagos State University. He is also an alumnus of the Lagos Business School’s Senior Management Programme.

Before joining UPDC, Falola held key leadership roles at Phoenix of Nigeria Assurance Plc and Custodian and Allied Insurance Ltd, where he served as Head of Credit Control and Debt Management, and later, Head of Finance and Account.

Falola’s core competencies include financial reporting and tax, treasury management, credit control, financial analysis, auditing, and budgeting—skills expected to bolster UPDC’s financial strategy as it navigates Nigeria’s dynamic real estate landscape.

The appointment is expected to strengthen UPDC’s leadership team as the company continues to pursue operational efficiency, investor value, and strategic growth.