Two groups of shareholdeers of Nigeria’s indigenous oil giant, Seplat Energy have vouched for the “authenticity, sanctity and correctness of the company’s half-year results, which reported stellar performance”. The groups –  The Eagle Eye Shareholders of Seplat Energy, and Concerned Shareholders of Seplat Energy – also expressed confidence in the capability of the company’s management to deliver superior returns and …

Seplat Energy Plc has petitioned the National Judicial Council (NJC) to sanction Hon. Justice Inyang Ekwo of the Federal High Court Abuja for what the company described as “unethical, gross misconduct and abuse of judicial power” in granting ex-parte orders in several cases involving the Seplat and some of its shareholders. In a six-page petition dated 15th May 2023 and …

A Federal High Court, sitting in Lagos, on Tuesday struck out a petition against Seplat Energy brought on 8th March 2023 by Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye and Robert Ibekwe. The petition had led to ex parte interim orders which ordered Mr. Roger Brown to step aside as the company’s Chief Executive Officer. However, the court later …

The Chairman of Seplat Energy, Mr. Basil Omiyi has announced that the company’s total revenue rose by 29.8 per cent to $951.8 million as at the financial year ended 31st December 2022. At the company’s 10th Annual General Meeting (AGM) held virtually on Wednesday with shareholders, regulators, company directors, and the media, Omoyi said that the profit before tax rose by …

A statement by the company’s Board Chairman, Mr Basil Omiyi confirmed the development following the decision of a Federal High Court in Abuja to adjourn the restraining injunction being sort by some shareholders. The suit Boniface Okezie and Seplat Energy PLC has been adjourned to 31st May. According to the statement by Seplat Energy PLC, Justice Inyang Ekwo ordered that …

A civil society organisation, Make a Difference Initiative (MADI) has faulted the 12-month Board of Directors Succession Forward Plan recently announced by Seplat Energy PLC. The plan would see the Board Chairman, Mr. Basil Omiyi remain in office till May 2024. MADI, which is dedicated to transparency, accountability, and good governance in Nigeria’s public and private sectors, said the plan …

Stakeholders in Corporate Nigeria and followers of its evolution must be apprehensive about the internal war at a leading player, Seplat Energy. The business community in Lagos and London has watched with bemusement and trepidation the unedifying statements and counterstatements emanating from the respected Seplat Energy since February 2023. Interested parties dragged internal corporate matters around management and corporate governance …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has affirmed that the status quo remains in respect of ExxonMobil/Seplat Energy share acquisition. Responding to media enquiries on the latest development about the transaction, NUPRC Chief Executive, Engr. Gbenga Komolafe clarified that,  in line with the provisions of the Petroleum Industry Act 2021, the commission is the sole regulator in dealing with …