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Tony Elumelu Joins Seplat Board After 20% Shareholding Acquisition

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Tony Elumelu UBA

By Aduragbemi Omiyale

Business mogul, Mr Tony Elumelu, has been appointed to the board of Seplat Energy Plc after acquiring 20.07 per cent equity stake in the energy firm.

Last month, the chairman of United Bank for Africa (UBA) Plc, acquired the shareholding of Etablissements Maurel et Prom SA (M&P) in Seplat through two of his companies, Heirs Holdings Limited and Heirs Energies Limited.

The acquisition made the Delta State-born retired banker as one of the major shareholders of Seplat Energy. This also qualified him to be a member of the organisation’s board.

In a statement to the Nigerian Exchange (NGX) Limited on Thursday, Seplat disclosed that Mr Elumelu has now joined the board as a non-executive director effective January 22, 2026 following the resignation of a nominee of M&P, Mr Olivier Cleret De Langavant, yesterday after being on the board since January 28, 2020.

The board expressed confidence that Mr Elumelu’s extensive experience and visionary leadership would significantly advance Seplat Energy’s strategic objectives and reinforce the company’s commitment to sustainable growth and long-term success.

“On behalf of the board and management, I wish to express our profound appreciation to Mr. Langavant for his outstanding contribution to Seplat Energy over the past six years. His expertise and commitment have been instrumental in driving our strategic initiatives.

“We warmly welcome Mr. Elumelu to the board and look forward to leveraging his wealth of experience and leadership as we continue to pursue sustainable growth and value creation for all stakeholders,” the chairman of Seplat Energy, Mr Udoma Udo Udoma, stated.

Seplat described Mr Elumelu as a distinguished African investor and philanthropist, globally recognized as one of the most prominent voices on Africa’s transformation agenda.

He is the founder and chairman of Heirs Holdings, a diversified investment company with interests across strategic sectors of the African economy, including energy, power, banking, insurance, technology, real estate, hospitality, and healthcare.

The businessman also serves as chairman of UBA, Heirs Energies, Transcorp Group, whose subsidiaries include Transcorp Power, and Transcorp Hotels Plc.

In 2010, he established The Tony Elumelu Foundation (TEF), the leading philanthropy dedicated to empowering African entrepreneurs across all 54 African countries.

His global influence has been widely acknowledged, including recognition as one of TIME Magazine’s 100 Most Influential People in the World (2020) and the conferment of the Commander of the Order of the Federal Republic (2022).

He also serves on several global boards, including UNICEF’s Generation Unlimited Global Leadership Council and the International Monetary Fund’s Advisory Council on Entrepreneurship and Growth.

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Jobs/Appointments

Police Service Commission Elevates Seven AIGs to DIGs

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By Adedapo Adesanya

Seven Assistant Inspectors-General of Police (AIGs) have been promoted to the rank of Deputy Inspectors-General of Police (DIGs) by the Police Service Commission (PSC).

The elevation, which is a result of merit, seniority, record of service and performance in a written examination and oral interview conducted today at the commission’s headquarters in Abuja, is part of efforts to strengthen the leadership cadre of the Nigeria Police Force.

The newly promoted DIGs are Mr Zachariah Fera Achinyan (formerly AIG Zone 4, Makurdi), Mr Zango Ibrahim Baba (formerly AIG Department of Logistics and Supply), Mr Isyaku Mohammed (formerly AIG Armament, Force Headquarters, Abuja), Mrs Margaret Agebe Ochalla (formerly AIG FCID Annex, Lagos), Mr Mohammed Abdul Sulaiman (formerly AIG Police Accounts and Budget, Force Headquarters, Abuja), Mrs Kenechukwu Onwuemelie (formerly AIG Zone 15, Maiduguri), and Mr Umar Shehu Nadada (formerly AIG Zone 14, Katsina).

This latest round of promotions follows the recent elevation of DIG Fayoade Adegoke to the substantive rank of DIG. He will now join the Force Management Team.

The promotions became necessary to fill the vacancies created by the retirement of eight DIGs who previously occupied these strategic offices.

While congratulating the new DIGs, the Chairman of the Police Service Commission, Mr Hashimu Salihu Argungu, charged them to live up to the expectations of their new offices.

He urged them to prioritise national security and foster a cordial and productive working relationship with the Commission to ensure the continued development of the Nigeria Police Force.

Some of the PSC board members who took part as examiners in the exercise included Mr Paul Adamu Galumje, Mr Taiwo Lakanu (DIG rtd and Chairman, PSC Standing Committee on Police Matters), and Onyemuche Nnamani (Secretary to the Commission).

Recently, Mr Tunji Disu became the new Inspector General of Police (IGP) following the exit of Mr Kayode Egbetokun.

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11 Plc MD Adetunji Oyebanji Retires After 45 Years

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Adetunji Oyebanji 11 Plc

By Adedapo Adesanya

The managing director of 11 Plc, which used to be known as Mobil Oil Nigeria Plc, Mr Adetunji Oyebanji, has taken a final bow from the company after 45 years of meritorious service.

The development was contained in a notice signed by the Company Secretary to NASD Plc and the investing public. In the statement dated March 3, 2026, it was disclosed that the retirement is effective March 31, 2026.

11 Plc trades its shares on the NASD Over-the-Counter (OTC) Securities Exchange.

The board of 11 Plc expressed its profound gratitude to Mr Oyebanji for his leadership and invaluable contributions to the company, wishing him the best in his future endeavours.

Mr Oyebanji was appointed chairman and managing director of then Mobil Oil Nigeria Plc in October 2008 and, following the divestment of ExxonMobil, he became the managing chief executive of 11 Plc in April 2017.

The board acknowledged Mr Oyebanji’s remarkable career with the organisation, which it said is a testament to his unwavering commitment, passion, and expertise in the oil and gas industry.

He joined Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee and progressed through various leadership positions, demonstrating exceptional leadership and strategic vision, including Planning Associate, Pricing Manager, District Manager, Branch Manager, Manager of Fuels Services, and Executive Director of Fuels.

His appointment as Managing Director in 2017 marked a significant milestone in his illustrious career, and he has steered the company through a period of significant transformation and growth.

Apart from his role at the company, Mr Oyebanji has played a significant role in the energy industry and the economy at large. He is currently the President and Chairman of the Council of the Chartered Institute of Directors in Nigeria.

He was a past chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry (LCCI).

He was also a past council member of the Nigerian Institute of Management and the LCCl. He was a board member of the Society for Corporate Governance, Nigeria, for over 10 years.

Mr Oyebanji’s career extended well beyond Nigeria’s shores. He served at various points in his career as a Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, USA, and as a Manager, Planning, at Mobil Africa Sales Inc. He served as an Executive Director at Mobil Oil Cameroon and later at Mobil Oil Ethiopia. Eventually, he took on a global leadership role as Manager Industrial and Wholesale Fuels, Africa, Middle East, based in Belgium and reporting functionally to the Global I&W Manager.

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Olaniyan to Serve as NGX Group Chief Strategy Officer

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Jumoke Olaniyan NGX Group

By Aduragbemi Omiyale

Ms Jumoke Olaniyan has been appointed as the Chief Strategy Officer of the Nigerian Exchange (NGX) Group Plc.

In her new role, Ms Olaniyan will lead enterprise-wide strategy formulation and execution across the organisation, driving initiatives aligned with its ambition to deepen market liquidity, expand product innovation, broaden investor participation, and enhance long-term stakeholder value.

The role is central to strengthening cross-functional alignment and organisational effectiveness as NGX Group continues to evolve its integrated market infrastructure model.

NGX Group, in a statement, said it strengthened its executive leadership with the appointment of Ms Olaniyan to advance its next phase of strategic growth, digital transformation, product innovation and market development.

Her appointment underscores the company’s continued focus on disciplined strategy execution, strong governance and sustainable value creation.

It also reflects the group’s deliberate effort to strengthen its leadership structure through broader representation at the executive level, ensuring that women continue to play influential roles in shaping the evolution of Nigeria’s capital markets while contributing meaningfully to national economic development.

Before joining NGX Group, Ms Olaniyan held senior leadership roles at FMDQ Group Plc and FDHL Group, where she played key roles in business development, market expansion, and product innovation across the fixed income, currencies and derivatives markets.

With over two decades of experience spanning financial markets, strategy, consulting, and banking, she brings extensive expertise in market structure, stakeholder engagement, and enterprise transformation.

She holds a degree in Accounting as well as an MBA from INSEAD Business School and has built a reputation for driving growth, strengthening market participation, and delivering innovative financial market solutions that enhance transparency, efficiency, and market resilience.

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