NGX Chairman Joins Africa Oil Corp Board

Africa Oil Corp. (TSX: AOI, Nasdaq Stockholm: AOI) has appointed Ahonsi Unuigbe to its Board of Directors, reinforcing its commitment to governance and strategic leadership.

Unuigbe, Founder & CEO of Petralon Energy and Chairman of Nigerian Exchange Limited (NGX), brings extensive expertise in oil and gas, capital markets, and corporate governance.

He joins alongside new directors Huw Jenkins, Pascal Nicodeme, Edwyn Neves, and Richard Norris, following the departure of Keith Hill, Erin Johnston, Andrew Bartlett, and Gary Guidry.

“This leadership transition aligns with Africa Oil Corp.’s recent consolidation of Prime Oil & Gas Coöperatief U.A. (Prime) shareholding and the introduction of a new quarterly dividend of $25 million, targeting an annual distribution of at least $100 million,” the company said in a statement.

President and CEO of Africa Oil, Roger Tucker, commented: “I welcome our new Directors and thank our outgoing Directors for their support over the past year as we delivered several strategic transactions to simplify and strengthen the Company’s fundamental business proposition.

“I would like to thank Pascal Nicodeme, our outgoing CFO, for his steadfast service to the Company, and the Board is pleased to retain his unique insights and expertise as a new Board member. We look forward to leveraging our strong position to deliver long-term value for all our stakeholders.”

SOURCE : THISDAY