Seplat files appeal, asks court to overturn interim order suspending its directors

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Seplat Energy Plc, an indigenous energy firm, has requested the Court of Appeal to overturn the decision of Justice Inyang Ekwo of the Federal High Court in Abuja, who granted an ex parte interim order against the company and certain of its officials.

Justice Ekwo granted the temporary ex parte order, which barred the board chairman, the named independent non-executive directors, the chief operating officer, and the company secretary from acting as Seplat Energy officers in any capacity or otherwise conducting the company’s affairs.

However, Seplat in its Notice of Appeal filed at the registry of the Federal High Court is asking the Appellate Court to allow the appeal and set aside the decision of the lower court made on May 11, 2023.

Seplat also says that the lower court erred in law and occasioned grave injustice by granting the order despite pending applications before it.

The company said the order affected it adversely and was an abuse of the court process as it lacks jurisdiction on the issue.

Seplat’s external Counsel, Senior Advocate of Nigeria, Bode Olanipekun, said the interim orders were obtained by three shareholders who cumulatively have about 161 shares (about 0.00027%) out of over 500 million issued shares of the company.

Olanipekun noted that there are special procedures for the removal of directors of a company under the Companies and Allied Matters Act (CAMA) and the same was not the basis for the removal of Seplat’s directors in this instance.

He asked all parties to allow the judicial process to take its course.