NJ Ayuk is stepping down as head of Centurion Law Group to focus on his work at the African Energy Chamber (AEC).
Taking over the role of CEO at Centurion is Zion Adeoye. He has served as managing director at the company. He has an LLB from Nigeria’s University of Ibadan, an LLM from Columbia University in New York and an MBA from the University of Dundee, Scotland.
“I have fought the good fight, I have run the race and I have kept the faith. I believe it is time to pass the torch to the next generation that can take the firm to the next level, and I have full confidence that Zion Adeoye and his team will be able to achieve this,” said Ayuk.
The departing executive said the move would provide “much-needed time to focus on my family, the work of the [AEC] and other entrepreneurial ventures and causes in which I believe”.
Ayuk’s departure has been under discussion for some time.
Transactions
As Centurion CEO, Ayuk said, the company has built a historic relationship with African governments, entrepreneurs and international energy companies.
“We have hired, trained and developed more African lawyers than any other law firm in Africa. We became the first African law firm to be listed on the German Stock Exchange and have spearheaded an audacious, on-demand legal service business model in Africa,” Ayuk said.
Adeoye noted his predecessor’s efforts in building “one of the finest law firms in Africa, as well as his ability to serve clients, solve disputes and close complex transactions”.
Centurion, he said, has won “important legal and public policy victories across Africa, deal after deal for entrepreneurs … [and] tough legal cases in complex jurisdictions while enforcing the rule of law”.
Adeoye is a member of the Nigerian Bar Association and Association of Independent Petroleum Negotiators. He has previously worked for the Nigerian Petroleum Development Co. (NPDC), KPMG Nigeria, Terra Cotta Legal, Olaniwun Ajayi and Templars Law.
Centurion announced the promotion of Adeoye to partner in July this year, alongside Oneyka Cindy Ojogbo.
Adeoye joined Centurion in 2017 and became managing director in 2020. His last job before joining Centurion was for Transnational Energy Group.
Calvert’s moves
Calvert International is the management holding company of Centurion Law. Earlier this month, Calvert struck a deal to acquire a majority stake in the South African conference company, Africa Energy Week. The sale is expected to close by the end of the first quarter of 2024.
Calvert is listed on the Dusseldorf Stock Exchange and is majority owned by NJ Ayuk. In August, the company struck a deal to acquire Emerging Energy Corp. (EEC), which works in hydrogen and renewable energy.
Sebastian Wagner, managing director of Atlas Oranto Petroleum, joined the management board of Calvert International in September. Verner Ayukegba, vice president at AEC, joined the supervisory board the same month.
OPEC moves
Ayuk’s AEC has also issued a slew of statements in recent days supporting African state’s membership of OPEC – as Angola has opted to quit the group.
Equatorial Guinea, where Ayuk has strong links, “has the same core values” as OPEC and OPEC+, Minister of Mines and Hydrocarbons, and OPEC President, Antonio Oburu Ondo.
The minister highlighted the importance of market certainty, the AEC statement quoted him as saying. This applies to “the ability to succeed in economic planning or to keep producing or to be disciplined with regards to production projects. The only clearly important factor in achieving all of the above is the stability of markets. This is what OPEC/OPEC+ embodies”, he said.
The AEC also expressed its support of Congo Brazzaville and Nigeria’s participation in OPEC.
Congolese Minister of Hydrocarbons Bruno Itoua noted the “remarkable harmony” among OPEC members.
“This harmony reflects our common commitment and shared willingness to work together for mutually beneficial goals.”
Angola took umbrage at the quota imposed by OPEC in its most recent meeting. It subsequently announced it was leaving the group.