Axxela Limited has appointed Mr Moshood Olajide as its new chief executive, following the retirement of Mr Timothy Ononiwu.
According to the company, Mr Ononiwu retired after attaining the official retirement age, following nearly a decade in top leadership roles, including his time as Chief Financial Officer (CFO) and later GCEO.
Under his leadership as CFO and then later as GCEO, Mr Ononiwu played a pivotal role in strengthening the company’s financial stability, overseeing expansion plans, and fostering strong partnerships across the energy value chain.
Speaking on Mr Ononiwu’s retirement, the Chairman of the board of Axxela, Mr Nzan Ogbe, expressed deep appreciation for his leadership and contributions to the organisation.
“On behalf of the board, I would like to thank Timothy Ononiwu for his commitment and significant contribution to Axxela as Group Chief Executive Officer and, before that, as Chief Financial Officer.
“Axxela has benefitted immensely from his dedication and strategic leadership over the years. His efforts have positioned the company for financial strength and long-term success, and we are grateful for the strong foundation he leaves behind.
“Following Timothy Ononiwu’s retirement, Moshood Olajide will assume the role of GCEO, where he will bring his visionary leadership to guide the company through its next phase of growth. His vast industry experience and deep understanding of the company’s post-divestment strategy position him well to lead the organisation to its next frontier,” he stated.
Reflecting on his retirement, Mr Ononiwu said: “As I begin this new chapter, I do so with immense pride in what we have built together. Leading Axxela has been one of the greatest honours of my professional life. I am deeply grateful to our employees, partners, and stakeholders whose dedication, innovation, and resilience have shaped our success. I remain confident that the strong foundation we have built will continue to drive growth and excellence for many years to come. I look forward to watching the next chapter unfold and wish the entire team continued success.”
The newly appointed GCEO is bringing extensive leadership experience in the energy and infrastructure sectors, with a strong track record in operational excellence, business growth, and strategic transformation, leveraging a legal, accounting, and corporate governance background.
In his new role, Mr Olajide will lead Axxela through its next phase of expansion, focusing on advancing natural gas advocacy, expanding integrated energy offerings, deepening regional market footprint, and accelerating the delivery of cleaner and more reliable energy solutions.
The company also announced the appointment of Ms Yetunde Demuren as Chief Financial Officer, an elevation from her previous role as Head of Corporate Finance and Treasury Management.
She is a seasoned finance executive with nearly two decades of experience in financial strategy, project viability assessment, cash flow planning, and capital management.
Her appointment is expected to further strengthen the company’s financial performance as the company continues to pursue ambitious growth plans and expand its infrastructure investments.
