AfriPulse
Axxela Limited has announced a major leadership transition with the retirement of its Group Chief Executive Officer (GCEO), Timothy Ononiwu, and the appointment of Moshood Olajide as the company’s new Group Chief Executive Officer.
The company also confirmed the appointment of Yetunde Demuren as Chief Financial Officer (CFO).
According to the company, the leadership changes mark a significant phase in Axxela’s strategic growth journey as it positions for its next stage of expansion within the energy sector.
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Ononiwu retired after attaining the company’s official retirement age, bringing to an end nearly a decade of service to the organisation.
During his tenure, he served first as Chief Financial Officer before becoming Group Chief Executive Officer, playing a central role in strengthening the company’s financial position, driving expansion initiatives, and building strategic partnerships across the energy value chain.
Commenting on the retirement, the Chairman of the Board of Axxela, Nzan Ogbe, commended Ononiwu for his contributions to the company’s growth and stability.
“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,” Ogbe said.
“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.”
Ogbe stated that the appointment of Olajide would usher in a new phase of growth for the company, citing his extensive industry experience and understanding of the company’s post-divestment strategy.
“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,” he added.
Reflecting on his retirement, Ononiwu described leading Axxela as one of the greatest honours of his professional career.
“As I begin this new chapter, I do so with immense pride in what we have built together,” he said.
“I am deeply grateful to our employees, partners, and stakeholders whose dedication, innovation, and resilience have shaped our success.”
The newly appointed GCEO, Olajide, brings extensive experience in the energy and infrastructure sectors, with expertise spanning operational management, business growth, strategic transformation, legal practice, accounting, and corporate governance.
In his new role, he is expected to drive Axxela’s next growth phase by advancing natural gas advocacy, expanding integrated energy solutions, strengthening the company’s regional footprint, and accelerating the delivery of cleaner and more reliable energy infrastructure.
The company also highlighted the appointment of Yetunde Demuren as CFO, noting that she was elevated from her previous position as Head of Corporate Finance and Treasury Management.
According to Axxela, Demuren has close to two decades of experience in financial strategy, project viability assessment, cash flow management, and capital planning.
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