In a bid to strengthen the future growth potential in its downstream business to deliver high quality returns to shareholders, Oando PLC has announced the appointments of Mr Omamofe Boyo and Mrs Lara Banjoko as the Chief Executive Officer (CEO) and Chief Operating Officer (COO) respectively of Oando Marketing Limited (OML), Nigeria’s leading retailer of petroleum products with effect from 30th June, 2008.Mr Omamofe Boyo is also the Deputy Group Chief executive (DGCE) of Oando PLC and will in his capacity as the CEO of Oando Marketing bring his wealth of experience into the affairs of the business while Mrs Lara Banjoko, the former Deputy Chief Operating Officer, (DCOO) of Oando Marketing will assume responsibility for the daily business operations of the organisation and ensuring strict adherence to set standards.
Mr Abubakar Folami, the former Chief Finance Officer (CFO) has also been appointed Executive Director, Finance, to head the company’s finance department.
Meanwhile, Mr Ayo Ajose-Adeogun, the former COO has been elevated to the Group Office (Oando PLC) as the General Manager, New Business Development.
Commenting on the changes, Mr Wale Tinubu said, “These changes are in line with our business strategy to sustain positive growth in our downstream business by unlocking the potentials in the sector, continuous improvement in operational efficiency and extracting the benefits of Enterprise Resource Planning information technology to drive unequalled high quality returns to shareholders. This will be driven by the expertise of the management team with vast experience in the downstream business”.
Below are the profiles of the new appointees:
Mr Omamofe Boyo assumed this current position in June 2008. He is also the Deputy Group Chief Executive (DGCE) of the group, the position he assumed in July 2001. Prior to this, Boyo was the Executive Director, Marketing of Oando Plc as well as the Managing/CEO of Oando Supply and Trading.
Boyo started his career in 1991 with Chief Rotimi Williams’ Chambers, a prominent law firm in Nigeria where he worked for 4 years. Whilst at the firm, he specialized in the shipping and oil services industries and worked on various joint venture deals between NNPC and major international oil companies. Boyo has a Bachelor’s Degree in Law from Kings College, University of London, England. He is also a member of the Nigerian Bar Association. He serves on the Board of Directors of Gaslink Nigeria Ltd., Oando Plc Nigeria, Oando Plc Togo, Oando Plc Ghana and Ocean and Oil Holdings Limited.
Mrs. Lara Banjoko is the Chief Operating Officer of Oando Marketing Limited, the Marketing division of Oando PLC. She assumed this position in June 2008.
Lara started her career at Oando on July 1st 2002 and has held several positions which include Head of Department, Internal Control & Audit, Fuel Services Manager (FSM), Chief Marketing Officer (Commercial) and just recently, Deputy Chief Operating Officer, a position held prior to her new appointment.
Lara has seventeen years post-grad work experience. She is a thoroughbred professional with extensive experience and skills in consulting and auditing.
She is a Fellow member of the Institute of Chartered Accountants of Nigeria and an associate member of the Chartered Institute of Taxation of Nigeria.
Mr Folami Abubakar is the Executive Director, Finance of Oando Marketing Limited. He assumed this position in July 2008
Folami started his career at Oando in February 2004 and has held several positions such as Divisional Finance Controller, Finance Controller, Oando Marketing and most recently, Chief Finance Officer, Oando Marketing.
Folami also has extensive work experience from several organizations such as John Holt PLC, Sabitu Folami & Co, Hamzat Subair, Folami & Co Chartered Accountants, Javed & Co Chartered Accountants and TSB Bank Plc (now LloydsTSB) in Birmingham. Folami has twenty years post-grad work experience with skills in financial reporting & planning, budgeting & forecasting, financing, taxation, investigations, systems implementation among others.
He holds a B.A Honours in Accountancy from University of Essex, Colchester, England. He is a Fellow member of Association of Chartered Certified Accountants and an Associate of Institute of Chartered Accountants of Nigeria.
