Seplat Plc gets New Chairman, Executive Director

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Seplat Energy PLC, a leading Nigerian energy company has announced Mr. Basil Omiyi, as its new board independent non-executive chairman. He replaces forming founding chairman, Dr ABC Orjiako, who retired from the board.   

A statement from the company yesterday said his appointment followed after a unanimous vote by all directors of Seplat Energy, in compliance with the Companies and Allied Matters Act in Nigeria.

The company also announced that Dr. Charles Okeahalam succeeded Mr. Omiyi as the senior independent non-executive director. Mr. Omiyi has been a member of Seplat Energy’s board of directors since March 2013 and as senior independent non-executive director from 1 February 2021.

During this period, he sat on the company’s remuneration, nominations & governance, energy transition, and risk management & HSSE committees, the company said.

He has over 40 years industry experience with Shell, during which time he held senior roles in Nigeria and Europe, including becoming 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.

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.

Other positions are, chairman of the energy sector of NEPAD Business Group, Nigeria, and 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.

Mr. Omiyi is also the independent non-executive chairman of Stanbic IBTC Holdings, a subsidiary of Standard Bank Group, a post he has held since 2015. 

Dr. Okeahalam 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 & 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 has held several board positions and is a former non-executive chairman of Heritage Bank Limited, Nigeria. Since March 2016 he has served as the non-executive chairman of the Nigeria Mortgage Refinance Company.

Roger Brown, chief executive officer of Seplat Energy, said: “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.

“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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