Ellah Lakes Plc, a Nigerian agribusiness listed on the Nigerian Exchange Limited (NGX), has appointed Hewett Benson as its Chief Financial Officer, effective July 1, 2025, in compliance with NGX Listing Rules and Issuers’ Rules on Material Information Disclosure. The move comes as the company prepares for a ₦250 billion capital raise and a debt-to-equity conversion plan for existing director/shareholder loans, subject to shareholders approval.
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Benson, a seasoned finance executive, brings extensive experience in capital markets, asset management, and corporate restructuring across global markets. From 2020 to 2025, he served as Group Coordinator and CEO of Royal Exchange Plc, where he restructured the company into an investment holding entity, raising $20 million for its general insurance business, ₦200 million for its microfinance bank, ₦250 million for its HMO, and overseeing a ₦10 billion sale of its life assurance business. He also managed Royal Exchange 2023 N2 billion Public Rights Issue.
Benson holds a Bachelor of Engineering in Aeronautical Engineering from Imperial College London, a C.P.G.S. in Aerospace Engineering from the University of Cambridge, and an S.M. in Aerospace Engineering from MIT.
