Saidu Mohammed has withdrawn from a deliberate appointment to the board of Seplat Power after President Bola Tinubu named him chief govt of Nigeria’s midstream and downstream oil regulator.
Seplat mentioned on Monday that Mohammed stepped apart as a result of holding each roles would create a battle of curiosity.
The corporate had introduced on December 17 that Mohammed would be a part of its board as an impartial non-executive director from January 1. Later the identical day, Tinubu nominated him as chief govt of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The NMDPRA regulates gas distribution, pricing and infrastructure throughout Nigeria. Operating the company whereas serving on the board of an oil firm would place Mohammed on either side of the trade.
Learn Additionally: Saidu Mohammed, the oil executive named NMDPRA chief amid sector turmoil
In a press release signed by firm secretary Edith Onwuchekwa, Seplat mentioned it acquired formal discover of Mohammed’s resolution to withdraw from the appointment.
Mohammed replaces Farouk Ahmed, who resigned earlier this yr following allegations of corruption and financial sabotage. Ahmed has denied the allegations.
The Senate confirmed Mohammed’s appointment on December 19.
Seplat mentioned it might announce a substitute for the vacant board place at a later date.
Lawmakers additionally confirmed Oritsemeyiwa Eyesan as head of the Nigerian Upstream Petroleum Regulatory Fee, finishing a reshuffle of Nigeria’s prime oil regulators.
