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Stanbic IBTC Holdings has announced the appointment of Basil Omiyi as Chairman of the Board of Directors with effect from May 15th, 2017.

In a statement released on Monday, the company said Omiyi’s appointment has received all the required regulatory approvals. Omiyi succeeds Atedo Peterside, the erstwhile Chairman of the Board who resigned earlier in March to focus on his private jet business and other interests.

Prior to his recent appointment, Omiyi was a Non-Executive Director of Stanbic IBTC Holdings since March 2015. He spent most of his career at Royal Dutch Shell, holding various positions 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.

Omiyi is currently an Independent Non-Executive Director at Seplat Petroleum Development Company. He has previously held several board memberships and senior advisory positions such as 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 the 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.

“The Board is confident that Mr. Omiyi’s leadership would be instrumental in moving Stanbic IBTC forward,” said Stanbic IBTC Holdings.