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Market Digest Nigeria

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Stanbic IBTC announces Basil Omiyi as Chairman

The board of directors of Stanbic IBTC Holdings Plc has announced the election of Mr. Basil Omiyi as the Chairman of the board with effect from 15 May 2017, following the receipt of all required regulatory approvals.

Omiyi succeeds Mr. Atedo Peterside (CON) as the chairman of the board following Peterside’s resignation as a Non-Executive Director and Chairman of the Board on 31 March 2017. Basil Omiyi was appointed as a Non-Executive Director on the Board of the Company in March 2015.

He spent most of his career at Royal Dutch Shell in various roles both in Nigeria and Europe, including Head of Production Technology, Chief Petroleum Engineer, Managing Director of Shell Petroleum Development Company of Nigeria Limited, and ultimately country Chairman of Shell Nigeria. He is currently an Independent Non-Executive Director on the Board of Seplat Petroleum Development Company Plc.

He has also held a number of Board memberships and senior advisory positions including; Chairman of Greenacres Energy Limited, Chairman of the Nigerian Upstream Industry Group, Board member of the Nigerian Business Group of New Partnership for Africa’s Development (NEPAD) and Nigerian Extractive Industry Transparency Initiative (NEITI), Chairman of the Oil and Gas Commission of the Nigerian Economic Summit Group (NESG), and member of the Presidential Advisory Council.

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