The managing director of 11 Plc, which used to be known as Mobil Oil Nigeria Plc, Mr Adetunji Oyebanji, has taken a final bow from the company after 45 years of meritorious service.
The development was contained in a notice signed by the Company Secretary to NASD Plc and the investing public. In the statement dated March 3, 2026, it was disclosed that the retirement is effective March 31, 2026.
11 Plc trades its shares on the NASD Over-the-Counter (OTC) Securities Exchange.
The board of 11 Plc expressed its profound gratitude to Mr Oyebanji for his leadership and invaluable contributions to the company, wishing him the best in his future endeavours.
Mr Oyebanji was appointed chairman and managing director of then Mobil Oil Nigeria Plc in October 2008 and, following the divestment of ExxonMobil, he became the managing chief executive of 11 Plc in April 2017.
The board acknowledged Mr Oyebanji’s remarkable career with the organisation, which it said is a testament to his unwavering commitment, passion, and expertise in the oil and gas industry.
He joined Mobil Oil Nigeria Plc in 1980 as a Marketing Representative Trainee and progressed through various leadership positions, demonstrating exceptional leadership and strategic vision, including Planning Associate, Pricing Manager, District Manager, Branch Manager, Manager of Fuels Services, and Executive Director of Fuels.
His appointment as Managing Director in 2017 marked a significant milestone in his illustrious career, and he has steered the company through a period of significant transformation and growth.
Apart from his role at the company, Mr Oyebanji has played a significant role in the energy industry and the economy at large. He is currently the President and Chairman of the Council of the Chartered Institute of Directors in Nigeria.
He was a past chairman of the Major Energy Marketers Association of Nigeria (MEMAN) and the Petroleum Downstream Group of the Lagos Chamber of Commerce and Industry (LCCI).
He was also a past council member of the Nigerian Institute of Management and the LCCl. He was a board member of the Society for Corporate Governance, Nigeria, for over 10 years.
Mr Oyebanji’s career extended well beyond Nigeria’s shores. He served at various points in his career as a Project Associate at Mobil Oil Corporation’s headquarters in Fairfax, Virginia, USA, and as a Manager, Planning, at Mobil Africa Sales Inc. He served as an Executive Director at Mobil Oil Cameroon and later at Mobil Oil Ethiopia. Eventually, he took on a global leadership role as Manager Industrial and Wholesale Fuels, Africa, Middle East, based in Belgium and reporting functionally to the Global I&W Manager.