Court vacates order sacking Seplat Energy CEO
The Federal High Court sitting in Lagos has vacated ex parte orders against Seplat Energy, its CEO Roger Brown, and Basil Omiyi, the chair of its directors’ board.
The energy firm made this known in a regulatory filing posted to the Nigerian Exchange on Thursday.
Among the orders was a directive prohibiting Mr Brown from taking part in the running of the company. Hearing is to continue on 16 March, Seplat Energy said.
C.J Aneke, a judge of the Federal High Court, Lagos, in early March issued the order against Mr Brown following allegations bordering on favouritism, racism, discrimination and breach of corporate governance by some stakeholders against the CEO.
The judge had also granted the prayer of the petitioners, including Moses Igbrude, Kenneth Nnabike, Sarat Kudaisi, Ajani Abidoye and Robert Ibekwe, requesting that Mr Omiyi and all independent non-executive directors be disallowed from running the company’s affairs “in an illegal, unfairly, prejudicial and oppressive manner pending the hearing and determination of the petitioners’ motion on notice for interlocutory injunction.”
Seplat Energy disclosed in the Thursday statement that the five persons claim to be minority shareholders of the company, altogether holding 161 units of shares.
“The Company maintains that the petition lacks proper basis and is premised on false allegations,” Seplat Energy said.
“Seplat Energy remains confident that the judicial process will address the circumstances appropriately. The Company continues to engage with the Ministry of Interior,” it added.
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The Federal High Court sitting in Lagos has vacated ex parte orders against Seplat Energy, its CEO Roger Brown, and Basil Omiyi, the chair of its directors’ board.
The energy firm made this known in a regulatory filing posted to the Nigerian Exchange on Thursday.
Among the orders was a directive prohibiting Mr Brown from taking part in the running of the company. Hearing is to continue on 16 March, Seplat Energy said.
C.J Aneke, a judge of the Federal High Court, Lagos, in early March issued the order against Mr Brown following allegations bordering on favouritism, racism, discrimination and breach of corporate governance by some stakeholders against the CEO.
The judge had also granted the prayer of the petitioners, including Moses Igbrude, Kenneth Nnabike, Sarat Kudaisi, Ajani Abidoye and Robert Ibekwe, requesting that Mr Omiyi and all independent non-executive directors be disallowed from running the company’s affairs “in an illegal, unfairly, prejudicial and oppressive manner pending the hearing and determination of the petitioners’ motion on notice for interlocutory injunction.”
Seplat Energy disclosed in the Thursday statement that the five persons claim to be minority shareholders of the company, altogether holding 161 units of shares.
“The Company maintains that the petition lacks proper basis and is premised on false allegations,” Seplat Energy said.
“Seplat Energy remains confident that the judicial process will address the circumstances appropriately. The Company continues to engage with the Ministry of Interior,” it added.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
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