Tony Elumelu Poised to Join Seplat Energy Board at Upcoming AGM
Business mogul and Chairman of United Bank for Africa, Tony Elumelu, is set to be appointed to the board of Seplat Energy as a Non-Executive Director during the company’s Annual General Meeting scheduled for May 20, 2026.
The proposed appointment is among the major resolutions shareholders will consider at Seplat Energy’s 13th AGM, which will hold virtually.
According to details released ahead of the meeting, shareholders are expected to deliberate on Elumelu’s nomination alongside key financial and corporate governance matters affecting the energy company.
The development follows Heirs Energies’ acquisition of a 20.07 percent stake in Seplat Energy through a deal reportedly valued at $500 million, making the company the largest single shareholder in the oil and gas firm.
During the meeting, shareholders will also review the company’s audited financial report for the 2025 business year and consider the approval of a final dividend payout.
Other agenda items include the proposed reappointment of PricewaterhouseCoopers as external auditors and discussions on standard governance resolutions required of companies listed on both the Nigerian Exchange and the London Stock Exchange.
The AGM will be conducted electronically in line with Nigeria’s corporate regulations permitting virtual meetings to encourage broader shareholder participation.
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