Oando appoints Adeola Ogunsemi as new Chief Financial Officer

Olufemi joined Oando in October 2005 and with his extensive financial expertise played major roles in the growth and success of the organization.

Oando has appointed Adeola Ogunsemi, Chief Financial Officer, Oando to become the newest member of its board following the resignation of Olufemi Adeyemo who was close to retirement having served the company for over 16 years.

Olufemi joined Oando in October 2005 and with his extensive financial expertise played major roles in the growth and success of the organization. He was pivotal in the execution of several notable accomplishments, including but not limited to the 2014 landmark acquisition of ConocoPhillips Nigerian assets, the 2015 Rights Issue, and the 2016 Group Restructuring program which includes the divestments of its Downstream and Midstream subsidiaries now known as OVH Energy and Axxela respectively.

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His successor, Adeola Ogunsemi, hitherto the Chief Financial Officer of Oando’s upstream division Oando Energy Resources since January 1, 2012, has over 25 years’ experience in accounting and finance having worked with reputable organizations globally. Prior to his promotion as the CFO of Oando Energy Resources, he was the Financial Controller of Oando Exploration & Production Limited having joined the Oando Group on March 01, 2009. Adeola’s trajectory within Oando reinforces the company’s effective succession planning as a great place for growth and development.

Growth and development within Oando are not unconnected with its ranking by the Great Place to Work Nigeria in 2020 as a Platinum Certified Organization; 2nd Place in Medium-Sized corporations, Best Workplace Category; Winners of Best in Quality-of-Life Practice, Medium-Sized Corporation amongst others.

Speaking on the appointment, an executive of Oando said: “We are pleased to have Adeola Ogeunsmi who will enhance the diversity of skills and experience represented on our board. We believe he is well-positioned to provide advice and insight across a broad spectrum of topics, including mergers, acquisitions and divestments, joint venture management as well as financial management.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.