Nigeria, June 9 -- Oil driller Seplat Energy has announced the appointment of business tycoon and chair of United Bank of Africa, Tony Elumelu, as its new chairman. Mr Elumelu is also the current chair of the board of directors of Transnational Corporation Plc.

He will take office on 1 January 2027, replacing Udoma Udo Udoma, who has informed the board of the company of his intention to retire on 31 December, Seplat Energy disclosed in a regulatory filing on Tuesday.

"The board believes this succession plan will support the company's strategic vision as it executes the delivery of its 2030 plan and strives to accelerate the growth projects in its portfolio," the document stated.

Mr Elumelu joined the board of the oil & gas company this...