Axxela Announces Retirement of GCEO, Appoints New Group Chief Executive Officer and CFO

Axxela Limited has announced a leadership transition marking an important phase in the company’s strategic growth journey.

The company confirmed the retirement of its Group Chief Executive Officer (GCEO), Timothy Ononiwu, having attained the company’s official retirement age, after nearly a decade of distinguished service.

It also announced the appointment of Moshood Olajide as the new Group Chief Executive Officer (GCEO) and Yetunde Demuren as Chief Financial Officer (CFO).

Under his leadership as Chief Financial Officer and later as GCEO, Timothy Ononiwu played a pivotal role in strengthening the company’s financial stability, overseeing expansion plans, and fostering strong partnerships across the energy value chain.

Speaking on Ononiwu’s retirement, the Chairman of the Board of Axxela, Nzan Ogbe, expressed deep appreciation for his leadership and contributions to the organisation. “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. 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.

“Following Timothy Ononiwu’s retirement, 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. His vast industry experience and deep understanding of the company’s post-divestment strategy position him well to lead the organisation to its next frontier,” he added.

Reflecting on his retirement, Timothy Ononiwu said, “As I begin this new chapter, I do so with immense pride in what we have built together. Leading Axxela has been one of the greatest honours of my professional life. I am deeply grateful to our employees, partners, and stakeholders whose dedication, innovation, and resilience have shaped our success. I remain confident that the strong foundation we have built will continue to drive growth and excellence for many years to come. I look forward to watching the next chapter unfold and wish the entire team continued success”.

The newly appointed GCEO, Moshood Olajide, brings extensive leadership experience in the energy and infrastructure sectors, with a strong track record in operational excellence, business growth, and strategic transformation, leveraging a legal, accounting, and corporate governance background. In his new role, Olajide will lead Axxela through its next phase of expansion, focusing on advancing natural gas advocacy, expanding integrated energy offerings, deepening regional market footprint, and accelerating the delivery of cleaner and more reliable energy solutions.

The company also announced the appointment of Yetunde Demuren as Chief Financial Officer, an elevation from her previous role as Head of Corporate Finance and Treasury Management. Yetunde is a seasoned finance executive with nearly two (2) decades of experience in financial strategy, project viability assessment, cash flow planning, and capital management.

Her appointment is expected to further strengthen the company’s financial performance as the company continues to pursue ambitious growth plans and expand its infrastructure investments.

About Axxela

Axxela is the pioneer private sector developer of natural gas solutions in Nigeria, with proven expertise in captive power generation and energy infrastructure development. Axxela is a designated natural gas shipper on the West African Gas Pipeline (WAGP) and a member of the West African Power Pool (WAPP), delivering natural gas to about 200 industrial and commercial customers via a vast natural gas infrastructure network. With over 400km of natural gas pipeline infrastructure built, Axxela provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited, Gas Network Services Limited, Central Horizon Gas Company Limited, Transit Gas Nigeria Limited, and Gasnexus Limited.

About BlueCore Gas InfraCo Limited

BlueCore is a strategic alliance of Afrigaz Energie LLP (a portfolio company of Stanbic IBTC Infrastructure Growth Fund), Levene Energy Development Limited, emPERSAND Limited, and Energy& LLP, focused on accelerating gas and power infrastructure in Nigeria and West Africa. The strategic partners within BlueCore have investment and operational experience in gas pipelines, power generation and distribution, and renewable energy.

For more information, please contact:  

Omolara Shitu

Corporate Communications & Branding Manager

17A The Wings Office Complex

Ozumba Mbadiwe Avenue, Victoria Island. Lagos Nigeria

Email: [email protected]

Axxela Limited has announced a leadership transition marking an important phase in the company’s strategic growth journey.

The company confirmed the retirement of its Group Chief Executive Officer (GCEO), Timothy Ononiwu, having attained the company’s official retirement age, after nearly a decade of distinguished service.

It also announced the appointment of Moshood Olajide as the new Group Chief Executive Officer (GCEO) and Yetunde Demuren as Chief Financial Officer (CFO).

Under his leadership as Chief Financial Officer and later as GCEO, Timothy Ononiwu played a pivotal role in strengthening the company’s financial stability, overseeing expansion plans, and fostering strong partnerships across the energy value chain.

Speaking on Ononiwu’s retirement, the Chairman of the Board of Axxela, Nzan Ogbe, expressed deep appreciation for his leadership and contributions to the organisation. “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. 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.

“Following Timothy Ononiwu’s retirement, 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. His vast industry experience and deep understanding of the company’s post-divestment strategy position him well to lead the organisation to its next frontier,” he added.

Reflecting on his retirement, Timothy Ononiwu said, “As I begin this new chapter, I do so with immense pride in what we have built together. Leading Axxela has been one of the greatest honours of my professional life. I am deeply grateful to our employees, partners, and stakeholders whose dedication, innovation, and resilience have shaped our success. I remain confident that the strong foundation we have built will continue to drive growth and excellence for many years to come. I look forward to watching the next chapter unfold and wish the entire team continued success”.

The newly appointed GCEO, Moshood Olajide, brings extensive leadership experience in the energy and infrastructure sectors, with a strong track record in operational excellence, business growth, and strategic transformation, leveraging a legal, accounting, and corporate governance background. In his new role, Olajide will lead Axxela through its next phase of expansion, focusing on advancing natural gas advocacy, expanding integrated energy offerings, deepening regional market footprint, and accelerating the delivery of cleaner and more reliable energy solutions.

The company also announced the appointment of Yetunde Demuren as Chief Financial Officer, an elevation from her previous role as Head of Corporate Finance and Treasury Management. Yetunde is a seasoned finance executive with nearly two (2) decades of experience in financial strategy, project viability assessment, cash flow planning, and capital management.

Her appointment is expected to further strengthen the company’s financial performance as the company continues to pursue ambitious growth plans and expand its infrastructure investments.

About Axxela

Axxela is the pioneer private sector developer of natural gas solutions in Nigeria, with proven expertise in captive power generation and energy infrastructure development. Axxela is a designated natural gas shipper on the West African Gas Pipeline (WAGP) and a member of the West African Power Pool (WAPP), delivering natural gas to about 200 industrial and commercial customers via a vast natural gas infrastructure network. With over 400km of natural gas pipeline infrastructure built, Axxela provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited, Gas Network Services Limited, Central Horizon Gas Company Limited, Transit Gas Nigeria Limited, and Gasnexus Limited.

About BlueCore Gas InfraCo Limited

BlueCore is a strategic alliance of Afrigaz Energie LLP (a portfolio company of Stanbic IBTC Infrastructure Growth Fund), Levene Energy Development Limited, emPERSAND Limited, and Energy& LLP, focused on accelerating gas and power infrastructure in Nigeria and West Africa. The strategic partners within BlueCore have investment and operational experience in gas pipelines, power generation and distribution, and renewable energy.

For more information, please contact:  

Omolara Shitu

Corporate Communications & Branding Manager

17A The Wings Office Complex

Ozumba Mbadiwe Avenue, Victoria Island. Lagos Nigeria

Email: [email protected]