Connect with us

Business

Seplat Energy replaces Avuru, Orjiakor on its board

Published

on

Seplat completes acquisition of Eland Oil

Seplat Energy has announced a replacement for its former Chief Executive Officer, Austin Avuru, on the company’s board.

Avuru co-founded the oil and gas firm with A.B.C Orjiako.

Seplat directed Avuru to resign from the board in December 2021 after accusing him of violating the company’s policies.

The company later told an investment vehicle, Platform Petroleum Limited (PPL), to provide a replacement for Avuru, whose investment in the firm is through PPL.

The replacement offered was PPL’s Executive Director, Commercial, Kazeem Raimi.

According to a statement sent to the Nigerian Exchange Limited (NGX) on Friday, Raimi will resume as a Non-Executive Director on the Seplat board on May 18.

READ ALSO: Seplat Energy in bid to acquire ExxonMobil asset amid N15.41bn loss

He will be joined by Bashirat Odunewu and Ernest Ebi on the company’s board.

Ebi was appointed to replace Orjiako on the board, as the latter is billed to step down on May 18.

Ebi is the nominee of Shebah Petroleum Development Company Limited (BVI) also owned by Orjiako.

Orjiako’s exit as Seplat chairman of Seplat followed the allegations that the billionaire gained financially from the Oil Prospecting Licence (OPL) 245 scam.

Odunewu has about 30 years’ experience in the banking industry, and currently serves as an Independent Non-Executive Director on the boards of Leadway Holdings, First Bank and Neimeth International Pharmaceuticals Plc.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Click to comment

Leave a Reply

Your email address will not be published.

3 − 3 =

Investigations