Jobs/Appointments
Risevest CEO Found Guilty of Sexual Impropriety, Abuse of Power
By Adedapo Adesanya
The Chief Executive Officer (CEO) of Risevest, Mr Eke Urum, has been found guilty of sexual impropriety and abuse of power.
This was the outcome of a six-week investigation into allegations of sexual and non-sexual abuse against the stock investment startup founder.
A statement noted that, “The evidence presented to the panel could not prove sexual assault by Eke Urum. However, the evidence presented to the panel, including admitted sexual relations with an employee and unwanted, inappropriate jokes and conversations revealed sexual impropriety. It also showed a pattern of abuse of power, intimidation, retaliation and workplace bullying by him.”
It was reported by TechCabal that a member of the investigation panel, Toni Tunde-Anjous, said that Mr Urum would not be reinstated as CEO.
Mr Tony Odiba, who is in the acting CEO role, will remain in that capacity until the newly constituted board appoints a new CEO.
Mr Urum will transition into a non-executive member of a new board and will lead the startup’s investment strategy and provide guidance on technology.
On his part, the Risevest CEO told the publication in response to the findings of the investigation that he was regretful and promised support for the new CEO.
“As a leader, I have grown a lot over the years and still have a lot of growing to do, which is why I’m going to be taking additional coaching and executive training.
“I regret the distraction that my actions may have caused and fully respect the integrity of the process the Risevest investors and the panel underwent to identify the gaps in our systems and my leadership.”
It took the investigation panel, comprising Odun Longe and Toni Tunde-Anjous, and chaired by Tomi Davies, speaking with almost 60 current and former employees over six weeks to reach a conclusion.
The investigation panel also recommended that a board of directors consisting of Mr Urum, Mr Odiba, two investor representatives, and one independent member approved by both founder and investor groups should be immediately constituted.
Prior to this, Risevest didn’t have a board of directors.
The panel called that after the board is formed, the conversion of currently-held (simple agreement for future equity) SAFEs into equity should take place.
Two months ago, Business Post reported that Mr Urum was asked to step aside by investors at the company, despite owning the largest part of the company, until the end of the investigation by panel members appointed by the investors.
“Following allegations of sexual and non-sexual impropriety from someone who can be reasonably expected to have knowledge of such, investors of Risevest have asked Eke Urum to step aside from his role as founder and CEO and an independent investigation is ongoing,” the company noted.
Jobs/Appointments
NMDPRA Denies Fake Employment Alert, Warns Unsuspecting Job Seekers
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the viral report suggesting that it is currently employing new staff is the “handiwork of fake recruitment syndicates established to mastermind fraudulent activities.”
In a Monday statement posted on its official X handle, NMDPRA expressed that it was compelled to publish the disclaimer to alert the public against such activities due to what it described as “exploiting young economically vulnerable and unsuspecting Nigerians perhaps into parting with huge sums of money for purported employment opportunities into the authority.”
“They do this by issuing bogus “Letters of Employment” and empty promises, as well as offering non-existent positions. These may well be the handiwork of fake recruitment syndicates established to mastermind these fraudulent activities.
“We wish to use this opportunity to state categorically that the NMDPRA is NOT conducting any recruitment exercise currently. Neither is the Agency undertaking any kind of employment in its services at any level. For the avoidance of doubt, any future recruitment exercise would be undertaken in accordance with extant rules guiding such exercises in the Nigerian Public Service,” the organisation emphasised.
The agency further advised the public to disregard these fake employment advertisements and urged them to visit its official website and social media pages to verify any recruitment claims.
The statement added, “In this regard therefore, we would like to advise the public and all Nigerians to ignore these spurious claims by unscrupulous people whose only objective is to defraud Nigerians and cast aspersion on the authority.
“We further advise that for current and up to date information regarding all our activities, kindly refer to our official corporate website: www.nmdpra.gov.ng as well as all our verified online social media outlets (i.e. Facebook, Linkedln and Instagram) for authentic information.”
Jobs/Appointments
Aradel Appoints Nnoli Akpedeye as Independent Non-Executive Director
By Adedapo Adesanya
Aradel Holdings Plc has appointed Ms Nnoli Akpedeye as an Independent Non-Executive Director, effective February 2, 2026, following a resolution passed at the company’s board meeting held on January 28, 2026.
In a notice to shareholders, Nigerian Exchange (NGX) Limited, and the investing public, the company disclosed that the appointment is subject to ratification by shareholders at its next Annual General Meeting (AGM). The board also authorised the Company Secretary, Mrs Titiola Omisore, to notify relevant regulators and take all necessary steps to give effect to the decision.
Ms Akpedeye brings more than 36 years of multi-disciplinary experience spanning oil and gas, engineering, legal and arbitration services, and management consulting. Her career reflects a strong blend of technical expertise and strategic leadership, with competencies in management and strategy, business process engineering, organisational development and change management, as well as entrepreneurship development.
Until 2014, she served as Technical Planning Manager for Shell Exploration and Production Companies in Nigeria, where she led the execution of high-impact, mission-critical projects. Over the course of her career at Shell, she held roles across civil engineering design, planning and construction, project management, facility management, technical audit, and business planning and strategy, gaining extensive local and international exposure.
Beyond her corporate career, Ms Akpedeye is an entrepreneur and advocate for capacity building in engineering and energy. She runs Contego Servo Limited and Perfectus Laundi Limited, and in 2013, she launched the “Introduce a Girl to Engineering” programme aimed at encouraging secondary school girls in Nigeria to pursue careers in engineering and related STEM fields.
She is a Council for the Regulation of Engineering in Nigeria (COREN)-registered engineer, a Fellow of the Nigerian Society of Engineers (FNSE), and a past President of the Association of Professional Women Engineers of Nigeria (APWEN). She is also a founding member of the Women in Energy Network (WIEN) and serves as a passionate ambassador for science, technology, engineering and mathematics education.
In addition, Ms Akpedeye is the Chief Operating Officer (COO) of Compos Mentis Legal Practitioners and the Chairman of the Board of Trustees of the Compos Mentis Foundation.
Her appointment further strengthens Aradel Holdings’ board with deep industry knowledge, governance experience, and a strong track record in leadership and institutional development, as the company continues to pursue its strategic objectives within Nigeria’s energy landscape.
Jobs/Appointments
Geregu Power Chooses Sean Manley as Interim CEO
By Aduragbemi Omiyale
An interim chief executive has been appointed by Geregu Power Plc and he is Mr Sean Manley, with his appointment to take effect from Monday, February 2, 2026.
A statement from the power generating firm disclosed that his appointment is subject to the approval of the Nigerian Electricity Regulatory Commission (NERC) and the shareholders of the company at the next general meeting.
In the notice, the organisation expressed confidence that the appointee would use his wealth of experience and leadership to “add significant value to the company.”
Mr Manley is said to be “a seasoned power-sector professional with a proven track record in delivering complex energy projects in developing markets.”
He is armed with more than 30 years’ experience spanning sales, business development, project implementation, supply-chain management, and OEM-led delivery within the power sector.
Over the course of his career with Siemens, Mr Manley has developed deep technical and operational expertise in thermal power generation, covering plant construction, commissioning, major overhauls, and long-term operational support.
He is widely regarded as a practical problem-solver, with a demonstrated ability to close projects in challenging operating environments and brings extensive international experience and strong intercultural skills acquired across multi-jurisdictional engagements.
His areas of expertise include the delivery of large, complex infrastructure projects, management of multi-million-dollar business units, client and stakeholder relationship management, business and market development, as well as logistics and procurement analysis critical to successful project execution.
The appointment of Mr Manley comes after Mr Femi Otedola divested his stake in the energy firm last month to support the recapitalisation of First Bank of Nigeria, a subsidiary of FBN Holdings Plc, which he chairs.
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