Unilever Nigeria Plc has announced that Chika Nwobi will retire from its board of directors on December 31, 2026, after nearly nine years as an independent non-executive director.
In a notice filed with the Nigerian Exchange (NGX) on October 23, 2026, the company said Nwobi’s retirement was in line with its Board Charter, which limits the tenure of independent non-executive directors to nine years. The notice was signed by Company Secretary Peter Dada.
According to the disclosure, Nwobi joined the board on January 1, 2018, making his scheduled departure consistent with the company’s board tenure policy.
Nairametrics reported the announcement on October 24, 2026, citing the company’s regulatory filing.
Nwobi is a Nigerian technology entrepreneur and investor whose work spans software engineering, technology talent development and venture building.
According to Nairametrics’ October 24 report, he is the founder and chief executive officer of Decagon, a technology company focused on training software engineers. He is also chairman of Vertex Software Corp and runs L5 Lab, a venture development firm associated with the incubation of African technology businesses, including Jobberman and Cheki.
Nairametrics also reported that Nwobi previously co-founded and led MTech, a technology company providing information technology solutions and business software. His professional experience includes consulting engagements involving the Ford Foundation and the International Finance Corporation.
The report said Nwobi holds bachelor’s degrees in Economics and Computer Science from East Tennessee State University in the United States, as well as a master’s degree in Software Engineering from the University of Oxford in the United Kingdom.
His retirement comes as Unilever Nigeria reports higher revenue and profitability in 2026.
In its unaudited financial statements filed with the NGX on October 23, 2026, for the nine months ended September 30, the company reported revenue of ₦184.01 billion, representing an 18.4 per cent increase from ₦155.41 billion recorded in the corresponding period of 2025.
The financial statements showed that gross profit rose to ₦85.46 billion from ₦63.97 billion, while operating profit increased to ₦38.54 billion from ₦30.46 billion.
Net profit climbed to ₦26.40 billion from approximately ₦21.97 billion in the same period of 2025.
The figures were also reported by Nairametrics in its October 23, 2026, coverage of the company’s nine-month results, which highlighted continued growth in revenue and profitability.
The company’s financial statements showed that its Foods segment generated ₦123.12 billion in revenue during the nine-month period, compared with ₦94.88 billion in the corresponding period of 2025.
Nwobi’s retirement will take effect on December 31, 2026, concluding his tenure on the board in accordance with the company’s stated governance requirements.
