“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 Dr. Orjiako providing “defined assistance with certain external stakeholder engagements.” The company said it has commenced legal action against Dr Orjiako and Amaze Limited at the Federal High Court in Abuja. Seplat says it took the decision to protect the Company and its shareholders, directors, and officers from potential and increasing liability from Orjiako’s conduct.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
I fear for the survival of this company. Seplat has been one of the success stories of indigenous companies taking over the divest assets of IOCs in Nigeria.
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