STANBIC IBTC BOARD ELECTS BASIL OMIYI AS CHAIRMAN

LAGOS, Nigeria – On Monday, 15 May 2017, the board of directors of Stanbic IBTC Holdings PLC announced the election of Mr. Basil Omiyi CON as the Chairman of the Board with effective immediately following the receipt of all required regulatory approvals.

Mr. Omiyi succeeds Mr. Atedo Peterside CON as the Chairman of the Board following Mr. Peterside’s resignation as a Non-Executive Director and Chairman of the Board on 31 March 2017.

Mr. Omiyi graduated with a B.Sc. in Chemistry in 1969 and obtained a post-graduate diploma in Petroleum Technology in 1970 from the University of Ibadan.

He brings over four decades of experience mostly from the Royal Dutch Shell where he spent 40 years 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.

Mr. Omiyi is currently an Independent Non-Executive Director on the Board of Seplat Petroleum Development Company Limited. He is also the Chairman of the Risk Management Committee and a Member of both the Remuneration Committee and the Nomination and Establishment Committees of Seplat.

Well versed in leadership and governance; Mr. Omiyi 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), Board member of 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, amongst others.

The Board is confident that Mr. Omiyi’s leadership would be instrumental in supporting Stanbic IBTC’s sustainable growth.