RESORT SAVINGS & LOANS PLC – Resignation of MD; Other Board Changes
Resort Savings & Loans Plc. has announced that its Managing Director, Mr. Michael Olaonipekun Oyinloye, notified the Board of Directors of the Bank of his intention to resign 3 months from 23rd May, 2017. Michael was appointed MD on 14th December, 2016.
The Bank also announced the resolution of its Board to vacate the office of Hon. Danladi Baido as a Non-executive Director of the Bank after being absent from its Board meetings without leave for 12 consecutive months, in line with its Articles of Association.
Mr. Oshoke Aliu was also appointed an Executive Director, Operations of the Bank, subject to the approval of the CBN.
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC – Lifting of Force Majeure on Exports from Forcados Terminal
Seplat has announced that the Force Majeure on exports from the Forcados terminal has been lifted. The Company noted that since the recommencement of oil and condensate injection into the Forcados system in May, gross production at OMLs 4, 38 and 41 had risen to pre-Force Majeure levels of around 34,000 bopd and 130 MMscfd, or 56,000 boepd on a net working interest basis.
The Company also announced that work on a jetty at the Warri refinery is on track to be completed during the 2nd Quarter of 2017. This is in addition to repairs and upgrades already completed in April on a first jetty at the refinery. These jetties will enable sustained exports of 30,000 bopd.