Leadership Change at Fidson as Founder Hands Over to Adebayo, Unveils N30bn Plan

The founding managing director and CEO of Fidson Healthcare Plc, Dr. Fidelis Ayebae, has departed after 30 years in charge, making Abiola Adetunji Adebayo the new CEO in a significant leadership transition.

The company’s ambitious expansion strategy began with a N30 billion capital raise drive, which Dr. Ayebae described as “a mark of Fidson’s strong leadership planning.”

Fidson’s goal is to penetrate the pharmaceutical frontier of Africa and increase its presence throughout Nigeria.

Fascinatingly, the company’s 26th Annual General Meeting (AGM), which was held virtually on July 31, 2025, unanimously approved the equity drive.

Fidson’s board has the authority to raise money using equity-based instruments such as rights issues through the strategic mandate. This bold action is intended to encourage product innovation, strengthen market dominance, and expedite the company’s capacity expansion.

The cash infusion was characterized as transformative and fundamental to the company’s future by Imokha Ayabae, director of finance at Fidson.

This mission of N30 billion is essential to our future. Our leadership position in the healthcare industry will be strengthened by the financial flexibility it gives us to pursue strategic goals including capacity development, product innovation, and market penetration. “With these funds, we can increase our operational efficiency and expand our influence in Nigeria and other African nations,” he said.

The formation of 600 million additional ordinary shares at a price of 50 kobo each was approved by shareholders in conjunction with the capital raise, increasing Fidson’s authorized share capital from N1.2 billion to N1.5 billion.

The live-streamed proceedings of the virtual AGM, which was conducted in accordance with the Business Facilitation Act of 2022, marked a milestone in corporate governance and showed Fidson’s dedication to openness and stakeholder participation.

The official retirement of Dr. Ayebae as CEO, which took effect on August 1, 2025, was a turning point in the AGM. He gave Adebayo, a seasoned businessman and trailblazing director who has accompanied Fidson since its founding, the reins.

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The transition was a component of Fidson’s robust succession planning, according to Dr. Ayebae, who said, “I step down with immense pride in what we have built together.” I can finally retire with confidence that Fidson is in good hands with Biola Adebayo, who has accompanied me on this trip for thirty years. I have faith that his leadership would keep the business at the forefront of healthcare services in Nigeria by fostering innovation and strategic expansion.

The outgoing chairman, Segun Adebanji, was also leaving the board. The company’s next board meeting will confirm the new chairperson.

Fidson said that company would pay out N2.29 billion in dividends, or N1.00 per 50 kobo ordinary share, to support its strong financial performance for the fiscal year that concluded on December 31, 2024. Fid­son’s continuous dedication to shareholder value was further demonstrated by the fact that this dividend was paid out of N2.52 in profits per share (EPS).

In addition, shareholders approved the company’s re-elected directors, audited financial statements, and adjusted compensation packages for the board, auditors, and senior management in accordance with regulatory standards.

The company secretary, Yomi Adebanjo, reiterated Fidson’s commitment to corporate integrity by saying, “Our electronic AGM guarantees that all shareholders, irrespective of their location, can actively participate in the business’s decision-making process. Strong corporate governance and transparency are core values of our organization.