By Adewale Sanyaolu
Lekoil Nigeria Limited has said despite the decision of (“Lekoil Cayman”) to terminate the service of Mr. Lekan Akinyanmi and remove him as Lekoil Cayman CEO as announced 3 June 2021, Akinyanmi remains on the Board of Lekoil Nigeria Limited and also its Chief Executive Officer.
The company in statement made available to Daily Sun said Akinyanmi created and executed the vision of an independent indigenous Nigerian energy company that is Lekoil, for this generation and in this emerging market and he has always worked with the best interest of Lekoil shareholders in mind.
Lekoil Nigeria alleged that the decision to terminate the service of Akinyanmi is the culmination of the efforts of the consortium led by Metallon Corporation to take control of Lekoil Cayman as foreshadowed in the circular to shareholders of Lekoil Cayman dated 11 December 2020.
‘‘We are of the opinion that recent additions to the board of Lekoil Cayman by Metallon Corporation and its collaborators should have been vetted (as is the practice of Lekoil Cayman) and due diligenced as required by the AIM Rules and as would be normal for listed companies.’’ The statement added that seasoned oil sector executives such as George Maxwell, and former directors with deep knowledge of the continent, such as Mark Simmonds, have resigned and been replaced with directors lacking industry expertise, knowledge of the continent, impartiality and objectivity and appointed to secure for Metallon Corporation and its collaborators, the full takeover of Lekoil Cayman.
It further alleged that since the takeover of the board of Lekoil Cayman in January by Metallon Corporation, a South African mining company, and its collaborators, concerted efforts have been made to seize control of the assets of Lekoil Nigeria Limited, saying the decision to remove Akinyanmi is the latest outcome of this strategy.