The company also announced the appointment of Dr. Charles
Okeahalam to succeed Mr. Omiyi as the senior independent non-executive
director.
Both appointments take effective immediately.
This is as representatives of Nigerian shareholder groups
who were at Seplat Energy Plc 9th annual general meeting held in Lagos on
Wednesday, applauded Dr. ABC Orjiako who just retired after 13 years as the
board chairman of the energy firm.
Speaking at the AGM, Ayodele Kudaisi of Independent
Shareholders Association of Nigeria (ISAN) said, shareholders were unhappy that
he iwas retiring but that his legacy which develop Seplat Energy to where it is
currently, lives on.
To him, “it is so painful to all shareholders that you have
to leave at this point in time. You have done so well and so much for the
entity called Seplat Energy.
“You and your team have taken Seplat to an enviable position
among all its peers, with resiliency, commitment, focus and unsurpassed
objectivity. You have come, you have seen and you have conquered. We are
definitely going to miss you here, but don’t be too far away from Seplat.”
Also speaking, another shareholder who is the current
national coordinator, ISAN, Dr. Anthony
Omoniyi Omojola, stressed that, “that Seplat Energy Plc is a reliable energy
company with limitless potentials is not a mere statement. This has been aptly
demonstrated in our performance in the 2021 annual report and accounts we are
considering.”
“You have shown leadership by example by your actions as we
pray to reap the benefits of this well planned out accelerated growth pattern.
We congratulate you. We are proud that the strong foundation you have laid to
position Seplat as a leading indigenous energy company in Nigeria within a
short space.”
Similarly, the president,
Noble Shareholders Solidarity Association (NSSA), Matthew Akinlade,
said: “this is a unique occasion that one must commend the board and management
of the company for stellar performance.
I felt highly impressed the kind of progress. The turn
around of the company this year to significantly improved profitability and
what you are doing to take the company to higher heights especially the
acquisition of Mobil Producing Nigeria Unlimited (MPNU).
Meanwhile, speaking on Omiyi, the company said his
appointment followed a thorough assessment of internal and external candidates
and was approved after a unanimous vote by all Directors of Seplat Energy, in
compliance with the Companies and Allied Matters Act in Nigeria (“CAMA”).
Omiyi has been a member of Seplat Energy’s board of
directors since March 2013 and as senior Independent non-executive director
from February 2021.
During this period, he sat on the Company’s Remuneration,
Nominations & Governance, Energy Transition, and Risk Management & HSSE
committees.
His experience in the energy industry is extensive, with
more than 40 years at Royal Dutch 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.
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, 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.
In 2011, he was awarded the national honour of Commander of
the Order of the Niger for pioneering leadership in Nigeria’s oil and gas
sector.
On his part, Dr. Charles 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 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. 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.
His other roles have included advising a number of African
central banks and government ministries, the World Bank and the United Nations.
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.
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.”