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Chiemeka, Bolumole Join NSE Management Team

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By Modupe Gbadeyanka

Two new appointments have been announced by the Nigerian Stock Exchange (NSE). The two persons are joining the executive management team of the nation’s stock market regulator and they are Mr Jude Chiemeka and Mr Olumide Bolumole.

A statement on Monday said while Mr Chiemeka is becoming the Divisional Head of T​rading Business at the NSE, Mr Bolumole is now the Divisional Head of Listing Business.

Mr Chiemeka comes with over 24 years’ experience in Securities Trading and Asset Management across markets in Africa.

He joined NSE from United Capital Securities Limited a subsidiary of United Capital Plc, where he was the MD/CEO. He had previously helmed affairs at leading investment banking firms in Nigeria such as Chapel Hill Denham Securities and Rencap Securities (Nigeria).

He is a Fellow of the Chartered Institute of Stockbrokers and an alumnus of University of Lagos, Lagos Business School as well as University of Oxford, UK.

On his part, Mr Bolumole is a financial market professional with close to two decades of experience in capital markets across; asset management, investment banking and merchant banking.

His most recent role was as acting Managing Director of FBNQuest Capital from 2018 to 2019.  He joined the FBN Holdings Group in 2012 where he headed securities’ sales spanning FBNQuest Capital as well as FBNQuest Merchant Bank.

Mr Bolumole started his career on the equities trade execution desk at De Putron Fund Management, a Hedge Fund based in the UK. He also worked at BGL Securities Ltd where he was head of institutional sales. 

His area of expertise is across asset classes with competencies in trading, business development and distribution. 

The financial market expert holds a Bachelors of Engineering degree in Aeronautical Engineering from the City University (London, UK) and a Masters of Information Systems from the University of Sheffield (Sheffield, UK).

Speaking on the appointments, the CEO of the NSE, Mr Oscar Onyema, said, “We are excited to have attracted such outstanding young business leaders to the Exchange and the Management Team at a time we are executing organizational growth and market-wide initiatives.

“I look forward to working with Jude and Olumide to continue executing our strategy of becoming the preferred African Exchange hub.

“Also, I will like to express my deep gratitude to Tony Ibeziako, Head, Primary Markets and Olufemi Onifade, Head, Secondary Markets for leading the teams during the transition period”.

Also commenting, Mr Jude Chiemeka, “I am pleased to join NSE during this important stage where the company is evolving into a demutualized Exchange.

“The Exchange has undergone a lot of transformation and I look forward to working alongside the great teams at the Exchange to accelerate the execution of the company’s strategy and drive greater value for our investors”.

In his remarks, Mr Olumide Bolumole said, “It is clearly an interesting transformational time at NSE and I am very excited about working with the talented employees and seasoned leadership team to create an even stronger globally competitive market that is the preferred choice of discerning issuers across continents”.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Jobs/Appointments

NMDPRA CEO Farouk Ahmed, NUPRC Boss Gbenga Komolafe Resign

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By Adedapo Adesanya

The chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has resigned alongside his counterpart at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe.

Based on the development, President Bola Tinubu has asked the Senate to confirm new chief executives for the two agencies.

The President’s request was contained in separate letters to the Senate on Wednesday, according to a statement signed by Mr Bayo Onanuga, the Special Adviser to the President on Information and Strategy, late on Wednesday.

Both officials were appointed in 2021 by former President Muhammadu Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).

To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Mrs Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Mr Saidu Aliyu Mohammed as CEO of NMDPRA.

Mr Ahmed’s resignation comes amid a high-profile conflict with businessman, Mr Aliko Dangote, who alleged that the NMDPRA chief and his family were living beyond their legitimate means, citing millions of Dollars allegedly spent on overseas schooling for his four children.

Mr Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.

Mr Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.

His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.

He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).

He played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.

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Transcorp Hotels Picks Awele Elumelu as Board Chair

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By Adedapo Adesanya

Transcorp Hotels Plc has appointed Mrs Awele Vivien Elumelu as the chair of its board, effective January 1, 2026.

Her appointment follows the scheduled retirement of the current chairman, Mr Emmanuel N. Nnorom.

Mrs Elumelu, a medical doctor with an MBBS from the University of Benin (UNIBEN) and clinical experience in Nigeria and the United Kingdom, brings extensive experience in healthcare, insurance, corporate governance, and philanthropy. She is married to the chairman of Transcorp Plc, Mr Tony Elumelu.

She currently chairs Avon Healthcare Limited, a Nigerian health maintenance organisation, and Avon Medical Practice, a network of hospitals and clinics.

She also chairs Heirs Insurance Brokers and serves as a founding Director of Heirs Holdings Limited. Her executive education includes programmes at Harvard Business School, IMD Switzerland, and the London School of Economics.

According to a statement, her appointment highlights a strategic focus on integrating innovation, wellness, and responsible business practices into Transcorp Hotels’ operations. Mrs Elumelu is also a trustee and co-founder of the Tony Elumelu Foundation, through which she has supported more than 24,000 African entrepreneurs with training, seed capital, and mentorship, while advancing gender inclusion.

Commenting on the appointment, Mr Elumelu tasked his wife to deliver value to stakeholders.

“We are delighted to welcome Dr Awele Elumelu as the board chair of Transcorp Hotels. Her distinguished track record perfectly aligns with our ambition to redefine hospitality through innovation, wellness integration, and responsible business practices. Her strategic insight will be invaluable, as we continue to elevate guest experiences and deliver sustainable value to all stakeholders,” he said.

Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc. The firm manages prominent properties including the Transcorp Hilton Abuja and the recently launched 5,000-seat Transcorp Centre. It is part of Transcorp Group’s diversified investments across power, hospitality, and energy sectors in Africa.

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Falade to Head NLNG as Mshelbila Quits to Lead Gas Exporting Countries Forum

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Nigeria LNG Limited NLNG

By Adedapo Adesanya

The Board of Directors of the Nigeria LNG Limited (NLNG) has appointed Mr Adeleye Falade as its new chief executive. He is to assume office in April 2026.

Mr Falade joins NLNG from Brunei LNG, where he has been serving in a similar position.

His appointment follows the exit of Mr Philip Mshelbila after more than four years of leadership to assume the position of Secretary-General of the Gas Exporting Countries Forum (GECF) in Doha, Qatar. He will officially leave the company on December 31, 2025.

Last weekend, a send-off ceremony was held in Abuja at the weekend to mark the end of the tenure of Mr Mshelbila and was graced by NLNG Directors, executives from shareholder companies, dignitaries from the public sector and energy industry in Nigeria, members of NLNG management, and representatives of various staff groups.

Speaking about the outgoing NLNG helmsman, Mr Olakunle Osobu, NLNG’s Deputy Managing Director, in his remarks described Mr Mshelbila as a man of distinction, an accomplished professional whose expertise spans medicine, environmental health, strategic business leadership, and global gas diplomacy.

He revealed that the outgoing MD stepped in during a period of unprecedented challenges, from the aftermath of COVID-19 and severe flooding that disrupted gas pipelines to vandalism and force majeure declarations by suppliers.

Mr Osobu stated that the global energy turbulence following the Russia–Ukraine war added further strain, but noted that despite these hurdles, NLNG pursued its sustainability goals with courage and innovation.

“Understanding that NLNG needed multiple supply sources, especially with current challenges, Mshelbila championed a bold and strategic pivot to expand NLNG’s feed-gas base beyond the shareholder joint-venture supply chain.

It was also revealed that under his leadership, NLNG negotiated and signed long-term Gas Supply Agreements (GSAs) with six third-party gas suppliers in August 2025. These GSAs commit to delivering an estimated 1,290 million standard cubic feet per day (mmscf/d) of feed-gas to NLNG, a historic step for the Company, marking a seismic shift,”.

Mr Osobu stated that Mr Mshelbila had championed innovation with a forward-looking approach, inspiring NLNG’s workforce to strengthen their commitment to emissions control and environmental stewardship, adding that Mr Mshelbila redefined NLNG’s business model through its transformation programme, building foundations for future sustainability and value creation.

In her remarks, Mrs Sophia Horsfall, NLNG’s General Manager, External Relations and Sustainable Development, said, “Thank you for your selflessness, for the steadiness of your leadership, for the clarity of your vision, and for the values that guided your every step. You led with humility, yet you inspired greatness. You carried the weight of challenges with calm resolve. You charted a path toward sustainability long before it became fashionable.”

On his part, Mr Mshelbila expressed profound gratitude to NLNG’s shareholders, Board of Directors, staff, and industry partners for their support throughout his tenure.

He praised the Company’s enduring culture of innovation and excellence and affirmed that he would carry these values into his new role at GECF, where he will promote natural gas as a sustainable and reliable energy source.

As Secretary-General of GECF, Mr Mshelbila will strengthen dialogue between gas-producing and gas-consuming nations, advancing stability in the international gas market.

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