By Abubakar Yunusa
International Energy Insurance Plc (IEI) has announced the resignation of Olasupo Sogelola as its managing director and chief executive officer (CEO).
The resignation took effect on November 12, 2025, the company said in a statement dated November 14 and filed on the Nigerian Exchange (NGX) on Monday.
The firm did not disclose the reason for the CEO’s resignation.
“International Energy Insurance Plc (IEI or the Company) wishes to notify Nigerian Exchange Limited, the shareholders and the investing public of the resignation of Mr. Olasupo Sogelola as the Managing Director/ Chief Executive Officer (MD/CEO) of the Company with effect from 12th November, 2025,” the statement reads.
The energy insurance firm said Joyce Odiachi, the executive director of technical, has been appointed acting MD/CEO pending the appointment of a substantive chief executive.
Reputed as Nigeria’s first energy-focused insurance company, IEI provides insurance solutions to the oil and gas the country’s sector.
In October, the organisation announced its successful relisting on the Nigerian Exchange alongside the full discharge of a debilitating N14bn Daewoo loan.
The NGX had suspended trading in IEI shares in connection with regulatory compliance relating to its 2024 audited accounts.
On October 6, the NGX announce it has lifted the suspension on the trading of insurance company’s shares.
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