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Saturday, 25 March 2023 06:15

I Acted Within My Scope In Company’s Best Interest, Orjiako Replies Seplat

The Pioneer Chairman and Co-founder of Seplat Energy PLC, Dr. ABC Orjiako, has de­nied any wrongdoing in the letter he initiated to the Feder­al Government to facilitate the consummation of the lingering $1.3 Mobil sales deal, saying he acted within the scope of his mandate for the benefit of the company.

He made the clarification in Abuja on Friday in a statement by his legal adviser, Senator Ikechukwu Obiorah, stressing that the company was already benefitting from the values created by the letter to the presidency.

Dr. Orjiako also said he had instructed his lawyers to take the necessary legal steps, in­cluding seeking appropriate damages from those behind what he described as a “mis­chief”.


It would be recalled that Seplat Energy had in Suit No FHC/ABJ/CS/386/2023, which it filed at the Federal High Court Abuja, on March 21, 2023, accused Orjiako of acting unilaterally when he communicated with the Fed­eral Government over a busi­ness transaction worth over $300 million, allegedly without the consent of the company’s Board of Directors. The com­pany is equally demanding the sum of $5 billion as damages.

But in a reaction enti­tled “The so-called Law Suit against Dr ABC Orjiako, the Pioneer Chairman of Seplat Energy Plc” issued by his le­gal adviser, the business mo­gul clarified: “The attention of Dr ABC Orjiako – the Pioneer Chairman of Seplat Energy Plc – has been drawn to the various malicious newspaper publications, the last being of the so-called Law Suit filed by some obviously disgrun­tled 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.

“Dr. ABC 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. Due to the misinforma­tion and mischief intended by those publications it has also become necessary to set the record straight.

“The letter referenced in the publications was written following appropriate discus­sions and was strictly for and in the best interest of SEPLAT. Also, the authorisation in the said letter expressly identi­fies Dr Orjiako as the Pioneer Chairman.


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