Petralon Energy is pleased to announce that its Founder and CEO, Mr. Ahonsi Unuigbe, has been appointed to the Board of the Nigerian Exchange Limited (NGX), a wholly owned subsidiary of the Nigerian Exchange Group (NGX Group).
NGX is a multi-asset exchange providing a home to the best of African enterprises listed on its Premium, Main, and Growth Boards; diverse fixed income securities; Exchange Traded Products (ETPs); Mutual and other investment funds. The NGX was created following the completion of the demutualization process of the Nigerian Stock Exchange.
As a new member of its Board of Directors, Mr. Ahonsi Unuigbe will bring considerable expertise in finance/capital markets and deep knowledge of the Nigerian energy, petrochemicals, power, telecoms, and manufacturing sectors.
Mr. Ahonsi Unuigbe’s appointment is a recognition of his track record in building strong companies and raising capital across sectors. Before founding Petralon Energy, he was a founding executive of First Hydrocarbon Nigeria (FHN), where he served as Chief Financial Officer (CFO) & Executive Director of FHN and was part of the core team that successfully acquired a 45% interest from Shell, Total, and Agip in Oil Mining Lease (OML) 26 in 2011. As part of the transaction, he led the first reserve-based lending for the block and raised up to $230m from a consortium of banks (led by Standard Bank Plc. & FCMB) despite challenging market conditions.
He joins the Nigerian Exchange at a time when Nigerian capital markets are experiencing a significant growth and transformation, following the demutualization process which changed it to a publicly-listed entity, as it seeks to become an even more competitive and attractive platform for local and foreign investors.