Forte Oil to Inaugurate New Board on Wednesday

• Forte Oil to Inaugurate New Board on Wednesday

The new management of Forte Oil Plc on Monday announced the newly appointed directors of the company will be inaugurated on Wednesday, June 26, 2019.

In a statement issued through the Nigerian Stock Exchange, the company listed the new directors of the company as Alhaji AbdulWasiu Sowami, Alhaji Aminu Umar, Mr Olumide Adeosun, Mr Moshood Olajide and Durosinmi-Etti Aniola.

The former board of directors, who resigned following the sale of the company, were Mr Femi Otedola, Mr Akin Akinfemiwa, Mr Julius Omodayo – Owotuga, Mr Christopher Adeyemi, Mr Anil Dua, Mr Suleiman Salamatu, Dr Mairo Mandara and Mr Nicolaas Verveide.

Mr Femi Otedola, the former majority shareholder of the company, last week completed the sale of his 75 percent stake in the company to Alhaji AbdulWasiu Sowami, the founder and Chief Executive Officer of Prudent Energy & Services Ltd.

Prudent Energy & Services Ltd, according to the company, is a downstream company with a $600 million gross-revenue.

Mr Sowami holds an MSC in Corporate Governance from Leeds Beckett University in England and a BSC in Sociology from the University of Maiduguri. He is presently a member of the Institute of Directors, Nigeria.

Forte Oil has now appointed Mr Olumide Adeosun as the new Chief Executive Officer of the company.

Mr Adeosun has over 18 years of work experience, providing transactional, project management and strategy services both locally and internationally, covering oil and gas, power and renewable energy sector.

He holds a Master of Science in Information Security & Mathematics from the Royal Holloway College, University of London and a Bachelor of Architecture (B.Arch) from Woodbury University, Burbank, Southern California.