Mr A.B.C Orjiako
Seplat Energy PLC one of the local players in the country’s oil industry on Thursday said it has taken legal action against its former chairman
after terminating a consultancy agreement with its wholly-owned subsidiary and its co-founder with immediate effect.
The Nigeria-focused energy company said the termination follows repeated warnings
about breaches of a material nature such as “unilaterally making significant commitments on Seplat’s letterhead without prior board authority or knowledge”.
The company said that under the consultancy agreement, Mr. A.B.C Orjiako, acting through Amaze Limited., was obliged to provide defined assistance with certain external stakeholder engagements following his retirement from the board.
The company has commenced legal action against Mr. Orjiako and Amaze Limited at the Federal High Court in Abuja.
Mr. Orjiako served in the company as chairman and stepped down in May 2022.
