Seplat Energy, a leading Nigerian energy company dual listed on both the Nigerian Exchange Limited and the London Stock Exchange, has announced the appointment of Udoma Udo Udoma as the Company’s new Independent Non-Executive Chairman.
Udoma will succeed Basil Omiyi who will retire on March 31, 2024.
Udoma’s appointment was approved after a unanimous vote by Directors of Seplat Energy, in compliance with the Nigerian Companies and Allied Matters Act (“CAMA”) 2020 and is effective April 1, 2024.
Seplat Energy also announced the appointment of Bello Rabiu as the new Senior Independent Non-Executive Director effective April 1, 2024, to succeed Dr. Charles Okeahalam who will be retiring on March 31, 2024.
“These appointments are in line with the Board Succession Forward Plan announced via Corporate Announcement on April 25, 2023 (RNS: 3575X) and via a subsequent Corporate Announcement on November 1, 2023 (RNS: 0096S) wherein it was announced that Mr Basil Omiyi and Dr Charles Okeahalam will retire from the Board on March 31, 2024,” a statement from Seplat disclosed.
The company noted that the appointments further demonstrate the commitment of the Board to upholding its strong corporate governance culture and establishing a truly independent Board.
Udoma is an accomplished lawyer and seasoned board administrator
Udoma attended St. Catherine’s College, Oxford, England where he obtained a B.A. (Law) degree and a B.C.L. degree in jurisprudence. He was admitted to the Nigerian Bar in 1978. He founded the Law Firm Udo-Udoma & Belo Osagie in 1983 and retired from active legal practice in early 2020.
Whilst in practice, Udoma specialized in advising on Nigerian investment laws and the investment environment, particularly in the petroleum, energy, and natural resources sectors.
He advised Nigerian and international companies on company law, corporate restructuring, mergers and acquisitions and the raising of financing in the capital and money markets, as well as on major construction and engineering contracts.
Udoma has served on a number of large sized company boards.
He was Chairman of UAC Nigeria Plc and Union Bank Plc and served on the boards of companies such as Unilever Nigeria Plc., Linkage Assurance Plc and First Hydrocarbon Nigeria Limited.
He has also held a number of public sector appointments. He was the first Chairman of the Corporate Affairs Commission and has also served as the Chairman of the Nigerian Securities & Exchange Commission..
He was the Special Adviser to the Minister of Petroleum and Natural Resources from September 1993 to March 1994 and served as Minister of Budget & National Planning from 2015 to 2019.
He was elected to the Nigerian Senate in 1999 and served for two terms from 1999 to 2007.
Udoma is currently the Pro-Chancellor of Akwa Ibom State University, Ikot Akpaden, Akwa Ibom State, Nigeria.
Bello Rabiu holds a Bachelor’s and Master’s Degrees in Mathematical Statistics from Ahmadu
Bello University Zaria, Nigeria and another Master’s Degree in Petroleum Engineering from The Imperial College, London, United Kingdom. He attended many career advancement courses in Nigeria and abroad including the prestigious Wharton Executive Development Program from the University of Pennsylvania in Philadelphia, USA and the Leading Global Business Program from Harvard Business School, Boston, USA.
Before his new role as the Founder and Chief Executive Officer of Dankiri Farms and Commodities Limited, Rabiu retired from the services of the Nigerian National Petroleum Corporation (NNPC) in July 2019 after 28 years of service.
He retired from NNPC as the Chief Operating Officer/Group Executive Director (COO/GED), Upstream Business Unit.