Seplat Drags Co-Founder Ambrose Orjiako to Court, Demands N5bn
Seplat Energy Plc has begun legal proceedings against its co-founder Ambrose Orjiako and a consultancy firm Amaze Limited.
The energy company said in a statement on Thursday signed by its board chairman Basil Omiyi that the consultancy agreement with the firm has also been terminated.
Seplat has been enmeshed in controversy in recent times with its CEO Roger Brown asked to step down following allegations of racism against Nigerian staff.
The company, however, accused Orjiako through Amaze Limited of “unilaterally making significant commitments on Seplat’s letterhead without prior Board authority or knowledge.”
It was also revealed that repeated warnings had been disregarded resulting in a suspension of the agreement in February 2023.
Part of the statement read, “Seplat Energy Plc announces the termination with immediate effect of the Consultancy Agreement between the Company’s wholly-owned subsidiary and its co-founder, Dr. A.B.C Orjiako, acting through Amaze Limited.
“The termination follows the suspension of the Consultancy Agreement on 13 February 2023, as unanimously approved by the Board of Directors, following repeated warnings about breaches of a material nature, such as unilaterally making significant commitments on Seplat’s letterhead without prior Board authority or knowledge.”
According to the statement, the consultancy agreement involved Orjiako providing “defined assistance with certain external stakeholder engagements.”
Related Posts
The company said it has commenced legal action against Orjiako, who is also its former board chairman, and Amaze Limited at the Federal High Court in Abuja and is demanding N5 billion in damages.
Seplat said it took the decision to protect the company and its shareholders, directors, and officers from potential and increasing liability from Orjiako’s conduct.
