FG Suit: Seplat Energy Harps On Good Corporate Governance

By Frank Oshanugor

Nigeria’s leading indigenous oil company; Seplat Energy Plc said it would continue to follow the rule of law and uphold high standards of corporate governance of which the company is known in spite of the Suit filed against it by the Nigeria Immigration Service (NIS) on behalf of the Federal Government.

Seplat Energy, while reacting to the suit, and determined not to escalate the issues in contention, in a statement by its Chairman, Mr. Basil Omiyi, referred to its earlier announcement on the issue made on March 9, 2023, and reiterated that it has provided all of the required documentation to the Ministry of Interior.

The company expressed optimism that the judicial process would address the circumstances appropriately. Meanwhile, Seplat disclosed that it would continue to engage and cooperate with the immigration authorities in Nigeria.

It will be recalled that the Federal Government recently filed a four-count criminal charges against Seplat Energy Plc, the company’s Chief Executive Officer, CEO, Mr. Roger Brown; the Board Chairman, Mr. Basil Omiyi and some directors, bordering on alleged breach of extant provisions of the Immigration Act 2015.

The defendants are in the charge marked FHC/AB/CR/149/2023, accused of allowing Mr. Brown to accept employment as the CEO of Seplat Energy Plc, without the statutory approval of the Controller General of Immigration, among other charges.

Seplat Energy Plc is Nigeria’s leading indigenous energy company. It is listed on the Nigerian Exchange Limited, NGX: Seplat, and the Main Market of the London Stock Exchange , LSE: SEPL.

Note worthy is the fact that Seplat Energy is pursuing a Nigeria-focused growth strategy through participation in asset divestments by International oil companies, farm-in opportunities, and future licensing rounds.
The company is a leading supplier of gas to the domestic power generation market.

Written by: Frank Oshanugor

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