Petralon Energy CEO Appointed to the Board of the Nigerian Exchange Limited

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.

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