News
Alake of Egbaland quits as chairman of OANDO
By Kayode Sanni-Arewa
The Alake of Egbaland, Oba Adedotun Gbadebo, has quit his exalted ‘throne’ as chairman of Oando Plc.
The company has, therefore, appointed Ademola Akinrele as its Board chairman after Oba Gbadebo, resigned from the position.
In a statement on Friday, Ayotola Jagun, the company’s Secretary, said Oba Gbadebo formally notified the board of his decision to step down as chairman and retire as a board member of Oando.
Gbadebo’s resignation, according to Jagun, took effect immediately after Oando’s annual general meeting (AGM) held on December 17, 2024.
“Oba Gbadebo served with unparalleled distinction for over 18 years on the Board, including 12 years as Chairman,” Jagun said.
“Throughout his tenure, he provided steadfast leadership, wise counsel, and a fatherly presence, guiding the company through significant milestones, including several landmark transactions.
“His steady hand and unwavering commitment were pivotal in steering the company through challenges while ensuring growth and resilience.
“The Board and Management of Oando Plc express their deep appreciation to Oba Gbadebo for his remarkable contributions and leadership over the years. His legacy will forever be an integral part of Oando’s story.”
AKINRELE HAS EXTENSIVE EXPERIENCE TO MOVE OANDO FORWARD’
Jagun said Akinrele would drive the company’s strategic vision forward, with his extensive experience, which includes working at Agip Plc, Danos & Curole Marine Contractors.
“Mr. Akinrele brings extensive experience and expertise to this role, having previously served as a Non-Executive Director on the Board and as Chairman of the Governance & Nominations Committee,” she said.
“With decades of distinguished service in the legal profession, he is widely recognised as a leading authority in commercial law, litigation, aviation, and maritime matters.
“Mr. Akinrele holds an LL.B (Hons.) from University College London and an LL.M from the University of Cambridge.
“He has also served on the boards of Agip Plc, Danos & Curole Marine Contractors, and other notable institutions.
“His exceptional leadership abilities and capacity to foster consensus among stakeholders position him well to lead the Board effectively.
“The Board is confident that, under his chairmanship, Oando Plc will build on its legacy of excellence and explore new avenues for growth.”
Jagun also announced the appointment of Cosmas Iwueze as an independent non-executive director, effective Dec toember 16, 2024.
“Cosmas Iwueze is a seasoned petroleum engineer and business leader with over three decades of experience in the oil and gas industry,” she said.
“Joining Chevron Nigeria Limited (CNL) in 1990, Cosmas rose through positions of increasing responsibility across Reservoir and Asset Management, Commercial Development, Operations, Project Management, and Business Strategy.
“He also gained international experience working with Chevron in California and Angola. Cosmas previously held leadership roles as Business Services Director for Chevron’s Nigeria/Mid-Africa unit, General Manager of Operations, and General Manager of Asset Development and Exploration.
“Notable achievements include securing third-party financing for JV projects and contributing to national petroleum policy development during a secondment to the Nigerian government.
“Prior to retiring in November 2024, Cosmas served as Director of the NNPC/Chevron Joint Venture (JV), overseeing the JV asset development, major projects, as well as oil and gas production with profit and loss accountability.”
Jagun said Cosmos led strategic initiatives at the joint venture, managed multiple general managers, and acted as managing director when required.
Finally, Minister of Power Adebayo Adelabu has resigned from President Bola Tinubu’s cabinet.
In a resignation letter dated April 22, 2026, and addressed to President Bola Tinubu, Adelabu said the decision would take effect from April 30, 2026, to allow for a smooth transition.
The letter, routed through the Office of the Secretary to the Government of the Federation, stated that he was stepping down with “a deep sense of honour and profound gratitude.”
He wrote, “I write with a deep sense of honour and profound gratitude to formally tender my resignation as the Honourable Minister of Power of the Federal Republic of Nigeria. This resignation is to take effect on 30th April 2026, in order to allow sufficient time for a smooth and orderly handover of responsibilities.”
Adelabu thanked the President for the opportunity to serve, describing his appointment as a privilege.
He said, “Your Excellency, I remain sincerely grateful for the privilege and confidence you reposed in me by appointing me to serve our great nation in this capacity.
It has been a rare honour to contribute to national development under your leadership and to play a role in advancing reforms in the power sector—one of the most critical foundations of Nigeria’s industrial growth and economic transformation.”
By Gloria Ikibah
As part of efforts to strengthen the country’s security architecture, President Bola Tinubu, has sent a formal communication to the House of Representatives on seeking legislative approval for the repeal and re-enactment of the Nigerian Police Trust Fund (NPTF) Establishment Act, 2025.
The request which was transmitted to the House for consideration and passage on Wednesday at plenary, underscores the need to improve the management and administration of the fund, enhance police training, and provide modern equipment for the Nigeria Police Force.
According to the letter,, the proposed amendment is aimed at boosting the operational capacity, accountability, and sustainability of the Police Trust Fund in line with current security challenges.
The President urged lawmakers to give the bill expeditious consideration, as the said the reform will improve the welfare of police personnel and support skill development across the force.
In another development, the House Committee on Rules and Business has moved to tighten legislative discipline, directing all standing and ad hoc committees to submit reports on bills and motions within set timelines in line with House procedures.
Chairman of the committee, Rep. Francis Uwaive, reminded all committee chairmen to treat all assigned matters within 30 days, with the risk of losing such assignments after 60 days if no progress is made, except where a short extension is granted.
A firm deadline has also been set for all outstanding reports, with the end of April 2026 as the cut-off point, and non-compliance attracting automatic discharge.
Amid the formal proceedings, lawmakers briefly paused to celebrate two members marking their birthdays, acknowledging their contributions to public service and national development.
The mood later shifted as the House paid tribute to a former member of the Fifth Assembly, observing a minute’s silence in his honour following his passing after a prolonged illness.
He was remembered for his dedication and service to his constituents in Benue State, with colleagues noting that his death represents a significant loss to the legislature and the country.
Iran’s Revolutionary Guards said on Wednesday that their naval forces stopped two ships attempting to cross the Strait of Hormuz and directed them to the territorial waters of the Islamic Republic.
“The Islamic Revolutionary Guard Corps naval force this morning identified and stopped in the Strait of Hormuz two violating ships,” the Guards said in a statement.
“The two offending ships… were seized by the IRGC’s naval forces and directed to the Iranian coast.”
They identified one ship as “MSC-FRANCESCA”, which they said belonged “to the Zionist regime” in reference to Israel, and the other as “EPAMINONDAS”, which they said was “tampering with navigation systems and jeopardising maritime security.”
The Guards further warned against any action against the regulations imposed by the Islamic republic in the strait “as well as activities contrary to the safe passage” through the waterway.
Tehran has said vessels must seek permission to leave of enter the Gulf through Hormuz, through a route that in peacetime accounts for a fifth of the world’s oil and gas exports along with other vital commodities.
Source: AFP
BREAKING: Finally, Power Minister, Adelabu resigns from Tinubu’s cabinet
Reps Begin Review of Police Trust Fund Law, Tighten Timeline for Committee Work
Iran Seizes Two Ships attempting to cross Strait of Hormuz
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