At Retail Supermarkets Nigeria Ltd (RSN),
we are committed to high standards of corporate governance. We manage our subsidiaries, Shoprite, Freshmark and Liquorshop through a governing structure where responsibility and reporting roll up from operational management to the Board of Directors.
Our Board Of Directors
Tayo Amusan
Tayo Amusan is a Nigerian entrepreneur, Founder, Chairman and Managing Director of Persianas Group with a number of subsidiaries in diverse sectors including The Palms Shopping Malls and Persianas Property, a luxury property development firm.
Tayo has over 25 years of experience doing business in Nigeria, mainly in the real estate industry. His past real estate successes were based on exploiting a supply gap for residential accommodation for a selected niche of the upper income expatriate market. His biggest project has been the world-class ‘The Palms’ shopping mall, which is rated to be the biggest of such property in Nigeria, if not West-Africa. The Palms has become the benchmark for other developers in Nigeria and has raised the standards of quality in the Nigerian real-estate market. Tayo also serves on the board of several companies including Garages Limited and Southern Petroleum Limited. He is also advisor on oil and petroleum matters to Masefield Limited in the United Kingdom.
Abba Kyari
Mr. Kyari Bukar is the Managing Director/Co-Founder of Trans Sahara Investment Corporation, a Private Equity firm based in Lagos, Nigeria. He has an outstanding career in Engineering and Technology having been former Managing Director/CEO at Central Securities Clearing System Plc, Lagos and ValuCard Nigeria (Unified Payments Ltd), Lagos respectively and Executive Director at FSB International Bank Plc.
Before joining the FSB International Bank, he served in various roles as Manufacturing Development Engineer, Marketing Program Manager, Senior IT Consultant, and as Manager in various sectors of the Hewlett Packard corporation in the United States of America.
Kyari Bukar was the former Chairman of the Board of Directors of the Nigerian Economic Summit Group (NESG) and currently serves on several other Boards; Chairman, SUNU Assurances Plc; Chairman, Ventures Platform; Chairman, ARCA Payments Ltd; Independent Non-Executive Director, Standard Chartered Bank Nigeria Ltd; Member, Nigerian Youth Alliance of Atlanta, Georgia; Member, Committee of Harmonisation of National ID; Member, Nigeria Technology Consultative Group; and leader of Employee Business Contribution Network (HP).
He holds a Bachelor’s degree in Physics from Ahmadu Bello University Zaria, Nigeria, and a Master’s degree in Nuclear Engineering from Oregon State University Corvallis, USA.
Adetunji Oduntan
Mr. Adetunji Oduntan is a professional with over 24years experience, in the Banking, Corporate finance and Strategic planning space in the United States of America and Nigeria, having worked at Allstates Corporation Headquarters in Northbrook, Illinois, U.S.A in the Corporate finance and Strategic planning Department and also in the Banking industry for J.P Morgan Chase, Northern Trust Bank, Bank of America, Illinois, U.S.A and Guaranty Trust Bank Plc Nigeria.
His experience in banking cuts across Project and Infrastructure financing, Investment, Business Advisory, Operations, Wealth Management, Portfolio Management, Credit Structuring and Analysis, Corporate Banking and oil and gas. He is currently a director at Generis Advisory Services Limited where is responsible for the development and growth of the company by leading a team of professionals who support and service local and international companies in Nigeria in the area business strategy, creating value, maximising growth and improving business performances.
He is also a member of the board of Lavallee Energy Services Limited. He holds an MBA from National Louis University, Chicago, Illinois, USA. He is also a member of the National Association of Business Economists, Washington DC U.S.A and the British Society of Business Economists, London U.K.
Kayode Pitan
Mr. Pitan has corporate and banking experience spanning over 25 years. He started his banking career in 1986 at Citibank Nigeria. He subsequently joined Industrial Bank Limited (Merchant Bankers) as part of the pioneer team in the role of Head, Trade Finance. He left the Bank in 1991 to run Credit Lease Nigeria Limited, a company founded by him to pursue his dream in export business. Mr. Pitan came back to the banking industry in 1996 by joining FSB International Bank Plc as AGM / Head of Middle Tier market and public sector.
Mr. Pitan had participated in many innovative transactions in the Nigerian Capital Market. He was the Chairman of the Technical Committee that led to the merger of Centerpoint Securities Ltd and FIIST Ventures Ltd to form Unity Registrars Ltd. He was the Chairman of the Technical Committee of the landmark transaction where nine banks were merged to form Unity Bank PLC and the listing of the bank on the Nigerian Stock Exchange.
He was recently the MD/CEO of Caroline Properties Ltd and director of Excel E& P Ltd. E& P Ltd. He graduated with a BSc (Hons) degree in Economics as a UAC scholar from the University of Ibadan in 1982.He obtained a Master’s degree in International Management as a Rotary International Scholar from the American Graduate School of International Management, Thunderbird Campus, Glendale, Arizona. He is an alumnus of Lagos Business School (SMP 5) and London Business School (SEP 43 ). He is also an alumnus of the Haggai Institute in Singapore. He is an ordained senior pastor of the Redeemed Christian Church of God.
Temitayo Etomi
Temitayo Otekpen Etomi is a lawyer, marketing consultant and social entrepreneur that began her career at the age of 17 as a paralegal officer at the Law Offices of George Etomi & Partners. She proceeded to study law at the University of Lagos, Nigeria and then obtained her marketing education at Columbia Business School, New York.
During her college years, Temitayo Otekpen Etomi established Positive Impact Network, a youth organisation created to harness the potential of young Nigerians towards developmental goals and also anchored several youth-related initiatives, including “Project Vote”, a youth mobilisation campaign geared towards inspiring young people to participate in the electoral process. She also served as a consultant to the Nigerian government on the development of a National Youth Policy in 2003.
Over the course of her career, Temitayo Etomi has been honoured to receive several significant and prestigious accolades. An exceptional writer, she won first place in the 2004 Ford Foundation Nelnet Essay Competition and placed in the top 20 during the 2005 World Bank Essay Competition. In 2010, the MRH Research Collective of Lagos, Nigeria, named Ms. Etomi its Young Woman of the Year for her exceptional service to womankind. She also received a Certificate of Merit “for service to college life” while attending Queen’s College in Yaba, Nigeria
Fola Laoye
Fola Laoye has more than 25 years of business experience, both locally and internationally, having trained with Ernst & Young in Lagos and PricewaterhouseCoopers in London.
Ms. Laoye is founder and director of Health Markets Africa, an advisory and investment company. She was previously director for West Africa investments at the Investment Fund for Health in Africa (IFHA). She is also a board member and was previously CEO and then chairperson of Hygeia Group Nigeria, promoters of Hygeia HMO and Lagoon Hospitals. She is chairperson of Old Mutual Life Insurance Company Nigeria and is also a member of the following boards – EchoScan Diagnostics, Lifebank Technologies, PAL Pensions; and Harvard Business School’s Healthcare Initiative. She is a trustee of the Harvard Business School Alumni in Nigeria and a member of the Young Presidents Organisation, Lagos Chapter.
In 2011, Ms. Laoye was nominated as a Young Global Leader by the World Economic Forum and in 2013 she was awarded the Harvard Business School Africa Business Club Leadership Excellence Award.
Ms. Laoye holds a bachelor’s degree in accounting from the University of Lagos and a master’s of business administration from Harvard Business School. She is a member of the Institute of Chartered Accountants in England & Wales and the Institute of Chartered Accountants of Nigeria.
Our Investors
Persianas Group is the real estate investment partner of choice for commercial and residential real estate development and management in Nigeria. Persianas Group was founded in 1990 with the goal of construction and management of real estate developments in Nigeria especially in the retail sector. The company provided its expertise in the evolution of retail shopping centres including, Shoprite supermarket buildings across Nigeria.
MBO Capital is a private equity fund manager based in Nigeria. MBO Capital primarily invests in privately-owned companies that have a significant business in Nigeria. MBO Capital Management Limited invested in RSN alongside a consortium of investors led by Persianas Investment Limited to acquire 100% of the share capital of RSN from Shoprite International Limited. With a view to grow the brand in Nigeria both geographically and in product offerings, KPMG Advisory Services and MBO Capital Management Ltd served as financial advisers to Ketron and Banwo & Ighodalo acted as legal advisers.
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. An investor in RSN, BOI provides access to funds for startups, SMEs, and large enterprises.