Seplat Energy PLC, a frontline energy company in Nigeria, has promoted Mr. Basil Omiyi to the position of Independent Non-Executive Chairman and Dr. Charles Okeahalam as the Senior Independent Non-Executive of the company.
According to the company, Omiyi’s elevation followed an assessment of his contributions to the growth of the company over the years.
It was gathered that his promotion was in compliance with the Companies and Allied Matters Act in Nigeria( CAMA).
Mr. Omiyi is succeeded by Dr. Charles Okeahalam as the Senior Independent Non-Executive Director.
According to a statement by Seplat, Mr. Omiyi has been a member of Seplat Energy’s Board of Directors since March 2013 and as Senior Independent Non-Executive Director from February 1st 2021.
During this period, Mr. Omiyi was said to have been in charge of the Company’s Remuneration, Nominations & Governance, Energy Transition, and Risk Management & HSSE committees.
The company stated that he has garnered a lot of experience in the energy industry, with more than 40 years at Royal Dutch Shell, during which he held senior roles in Nigeria and Europe.
The new Independent Non-Executive Chairman is said to have also been a Managing Director of Shell Petroleum Development Company of Nigeria in 2004 and in addition, Country Chairman of Shell Companies, Nigeria, until his retirement in 2009.
The company further stated that Mr. Omiyi has held several leadership positions in the Nigerian oil and gas industry, including: Chairman, Upstream Industry Group (Oil Producers Trade Section, Lagos Chambers of Commerce & Industry) from 2007-2010; Chairman of the Energy Sector of NEPAD Business Group, Nigeria; Board Member, NEPAD Business Group, Nigeria, from 2005-2010; Chairman of the Oil & Gas Commission of the Nigerian Economic Summit Group from 2005-2010; and Board Member, Nigerian Extractive Industry Transparency Initiative (NEITI) 2007-2010.
The Executive Chairman is also the Independent Non-Executive Chairman of Stanbic IBTC Holdings, a subsidiary of Standard Bank Group, a post he has held since 2015.
Seplat revealed that he was awarded the national honour of Commander of the Order of the Niger in 2011, for pioneering leadership in Nigeria’s oil and gas sector.
Giving information about Dr. Charles Okeahalam, the statement said he joined the Board in March 2013 as an Independent Non-Executive Director, and is Chairman of Seplat Energy’s Finance Committee, and a member of the Energy Transition, Remuneration, and Nominations and Governance committees.
Dr. Okeahalam has extensive corporate finance and capital markets expertise and in particular, detailed knowledge of African financial markets, economies and the investment industry.
He was a co-founder of AGH Capital Group, a private equity and diversified investment holding company based in Johannesburg, with assets in several African countries.
According to the company, prior to co-founding AGH Capital Group in 2002, he was a Professor of Financial Economics and Banking at the University of the Witwatersrand in Johannesburg.
Other roles he has played in various spheres of life include; advising a number of African Central Banks and government ministries, the World Bank and the United Nations.
Dr. Okeahalam is said to have held several Board positions and is a former Non-executive Chairman of Heritage Bank Limited, Nigeria.
He has also served as the Non-Executive Chairman of the Nigeria Mortgage Finance Company right from 2016.
According to the Chief Executive Officer of the company, Roger Brown, “as the founders of Seplat Energy, Dr. ABC Orjiako and Mr. Austin Avuru step off the board and the Company moves into the next chapter of its development.
“Seplat has once again demonstrated its commitment to strong corporate governance in delivering on its promise of appointing an Independent Non-Executive Chairman.
“Mr. Basil Omiyi has been a leading figure in the Nigerian oil and gas sector and also with Seplat Energy, having joined its Board in 2013 and helped it to achieve a dual listing in April 2014. The vast depth of experience and his detailed knowledge of Seplat Energy will be invaluable as we continue to evolve and mature the company. He has provided invaluable guidance as an Independent Director and I look forward to his continued leadership as our new Independent Non-Executive Chairman.
“We will also benefit from the considerable expertise of Dr. Charles Okeahalam as Senior Independent Non-Executive Director, especially his experience and knowledge of Africa’s economies and its financial markets.
“Under their guidance we will continue to expand and consolidate our position as Nigeria’s leading energy company and the partner of choice to deliver energy transition for Africa’s largest economy and its rapidly growing population.”
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