Lekoil names Aisha Muhammed-Oyebode as board chairperson

Lekoil Nigeria Limited, the oil and gas exploration and production company and affiliate of Lekoil Limited Cayman, has announced the appointment of Aisha Muhammed-Oyebode as chairperson of its board.

Prior to this appointment, Mrs Muhammed-Oyebode served as interim chairperson and brought her vast experience to the Board.

Mrs Muhammed-Oyebode is the CEO of the Murtala Muhammed Foundation and group chief executive officer, Asset Management Group (AMG) Limited.

She is a development specialist, international NGO expert and human rights activist with special focus on women and girls initiatives. She is a distinguished advisor on social impact and corporate social responsibility with expertise in Africa.

Mrs Muhammed-Oyebode has practical experience in corporate and litigation matters as a legal practitioner and served in the past with global financial institutions which include Caisse Privée Banque, Brussels; Banque Rivaud, Paris; and Banque Privée, Geneva, and is a member of several Nigerian boards.

She is a member of the Women’s Leadership Board of the Harvard Kennedy School – Women and Public Policy Programme, and an advisor and country expert to the University of Pennsylvania Law Global Women’s Leadership Project.

She is also an advisor to the United States Institute of Peace (USIP), as a member of its Senior Working Group on Nigeria.

Mrs Muhammed-Oyebode, who also sits on the Board of Lekoil Cayman commented, “Having served on the Boards of Lekoil for over six years and through the early stages of the company’s growth achieved in challenging times in the E&P sector, I am honoured to accept this new appointment as the company embarks on an exciting period of growth that will further serve Nigerians and Nigeria.”

In a statement announcing the appointment, Lukoil quoted industry commentators as applauding it “for taking this bold step and described it is a significant step that shows a trend that women can make it to the top in traditionally male dominated industries.

“The wealth of Muhammed-Oyebode’s experience was evident less than two weeks ago when she chaired Lekoil Cayman’s Extra-ordinary General Meeting (EGM) – her first as Chairman of the Board of LEKOIL Nigeria. This brought an end to a period of severe speculation and uncertainty about the cohesion of the board of Lekoil.

“She called for cooperation and commitment saying, ‘The last few months have been very challenging and controversial and we cannot trivialize the significance of many of the issues that we have encountered and discussed, some of them have had serious negative impact on our ability to remain focused on our mandate and serve our members and stakeholders. We need to be able to speak openly and fully about issues that concern this company and continue the process of reconciliation. We owe a duty to our shareholders as we look beyond the past’”

An Africa-focused oil exploration and production company with world class assets in Nigeria and West Africa, Lekoil Cayman operates in Nigeria through Lekoil Nigeria which has significant interest in a number of strategic Nigerian oil and gas assets which are important to Nigeria’s energy future.

The assets include the Otakikpo marginal field where Lekoil has 40% interest; Ogo discovery and OPL 310 where Lekoil has 17.14%; OPL 276 where Lekoil has 45% and OPL 325 where Lekoil has 62% interest.

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