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Lekoil Nigeria Chairwoman, CEO Resign From Lekoil Cayman Board

Three Directors and Executives of Lekoil Nigeria on Friday resigned from the Board of Lekoil Cayman

Lekoil Nigeria, which is 40 percent owned by Lekoil Cayman, said Chairwoman Aisha Muhammed-Oyebode and Chief Executive Lekan Akinyanmi resigned as directors of Lekoil Cayman, and its company secretary Gloria Iroegbunam resigned as Lekoil Cayman’s company secretary.

All three will remain in their current Lekoil Nigeria roles, the company said.

Lekoil Nigeria said the resignations were prompted by the recent behavior and actions of the board of Lekoil Cayman, including the termination of Mr. Akinyanmi as that company’s CEO.

“The continuous breaches of due process and corporate governance by the board of Lekoil Cayman has left us with no option but to resign collectively from the board of Lekoil Cayman,” Mrs. Muhammed-Oyebode said.

“Lekoil Nigeria has separately written to Lekoil Limited’s advisers and to the AIM authorities requesting them to investigate the behavior of the current board of Lekoil Limited,” she said.

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