Obijackson Group Holds Board Meeting, Appoints New Board Members
—November 2013

The top tier management of the Obijackson Group of companies, during its board meeting held on November 5 at Intercontinental Hotel Lagos; passed a resolution to reconstitute and strengthen the board of all the companies within the Group, in a move designed to strategically place the companies in the best position to increase long-term value.

A Supervisory Board was also established to exercise oversight functions over all activities within the Obijackson Group. The Supervisory Board consists of: Professor Anya O. Anya (Chairman), Dr. Ernest Azudialu (Group Managing Director), Dr. Theo Osanakpo SAN, Mr. Orlando Ojo, Mrs. Nnenna Obiejesi, Mr. Hans Christ, Mr. Chijioke Igwe, Mr. Nicholas Okoye and Mr. Okechukwu J. Mbonu.
The Obijackson Group is made up of Nestoil Limited, Energy Works Technology Limited, B&Q Dredging Limited, Gobowen Exploration and Production Limited, Century Power Generation, Time Power Global Dynamic Limited and IMPaC Oil and Gas Engineering (Nigeria) Limited. All the companies were involved in the Board consolidation efforts.

As a result of the extensive restructuring, three new Directors were appointed to the Board of Nestoil Limited - Obijackson Group’s flagship company - in the persons of Mr. Hans Christ, Mr. Keith Jones and Mr. Okechukwu Mbonu.

In a briefing delivered by the Group Managing Director/CEO of Obijackson Group, Dr. Ernest Azudialu, the strategic redirection is in line with the Group’s drive to “set up structures and implement key corporate governance principles; and also engender a greater degree of fiscal discipline, risk management and control, improved compliance, governance and best practice culture regime.” He also cited the Group’s unflinching commitment to improving in-house capacity, by aggressively hiring highly skilled and experienced key personnel at Management level, while extensively training current staff across its companies.