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Orjiako denies breach of Seplat’s operational guidelines, demands compensation



The former Chairman of Seplat Energy Plc, A.B.C Orjiako, has responded to the allegation that he breached the company’s operational guidelines.

Seplat had in a suit filed at the Federal High Court, Abuja, claimed that Orjiako took some decisions that could affect the firm’s directors, officers, and shareholders.

Amaze Limited, another company owned by the billionaire, was listed as a respondent in the suit.

Seplat had in the suit marked FHC/ABJ/CS/386/2023 alleged that Orjiako made an offer of $300 million with the firm’s letterhead without the approval of the company’s board of directors.

However, in a statement issued by his legal adviser, Ikechukwu Obiorah, the billionaire insisted that the letterhead was used to facilitate the ExxonMobil deal for Seplat Energy.

He also demanded damages from Seplat over the statement credited to the company on the matter.

READ ALSO: Seplat Energy sues co-founder, A.B.C Orjiako, for operational breaches

The statement read: “The attention of Dr. Ambrose Orjiako, the pioneer Chairman of Seplat Energy Plc, has been drawn to the various malicious newspaper publications, the last being of the so-called lawsuit filed by some persons claiming to be acting in the interest of the company.

“He had hitherto refrained from joining them in the unfortunate affray. It has, however, become necessary to let the public be aware of the mischief of these individuals who have masked their personal interest over that of the wellbeing of Seplat, a company that has earned a notable repute.

“Orjiako, the co-founder of Seplat, under the written authorisation of the Board of Directors of Seplat, had the mandate to manage certain specific stakeholders of the company in respect of the transaction which necessitated the subject communication.”

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