• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

Seplat Energy Plc terminates consultancy agreement with its former Chairman Dr. A.B.C Orjiako

Emmanuel Abara Benson by Emmanuel Abara Benson
March 23, 2023
in Company News, Exclusives
Seplat Energy Plc terminates consultancy agreement with its former Chairman Dr. A.B.C Orjiako

Dr. A.B.C Orjiako, Co-founder and former Chairman of Seplat Energy Plc

Share on FacebookShare on TwitterShare on Linkedin

Key highlights

  • Seplat Energy said it terminated the agreement due to repeated breaches of a material nature, such as making significant commitments on behalf of the company without board approval.
  • The termination was necessary to protect the company and its directors from possible liabilities, and Seplat has instituted legal action against Orjiako and Amaze Limited.
  • Seplat Energy has recently been involved in scandals, including the recent controversy involving its CEO Roger Brown, who was forced to temporarily step down following an injunction by the court.

Seplat Energy Plc has announced the immediate termination of a consultancy agreement between its co-founder and former Chairman, Dr A.B.C Orjiako, and one of its wholly-owned subsidiaries. 

The development follows an earlier suspension of the agreement last month, as unanimously approved by the company’s board of directors.

A press statement sent to Nairametrics explained that the company decided to terminate the contract due to repeated corporate governance breaches of a material nature, such as unilaterally making significant commitments on behalf of Seplat and using the company’s letterhead to communicate said commitments without prior approval by the Board.

RelatedStories

TikTok

TikTok removes over 3.6 million Nigerian videos in Q1 2025  

July 15, 2025
Superman opens with N133.7 million ticket sales at Nigerian box office

Superman opens with N133.7 million ticket sales at Nigerian box office

July 15, 2025

The statement further explained that it became necessary for Seplat to terminate the consultancy agreement in order to protect the company and its directors from possible liabilities. Part of the statement said:

  • “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.
  • “This course of action was necessary to protect the Company and its Shareholders, Directors, and Officers from potential and increasing liability arising from the conduct of the Consultants, Dr Orjiako and Amaze Limited.”

Seplat institutes Legal action against Orjiako and Amaze Limited

In the meantime, the company said it dragged A.B.C Orjiako and Amaze Limited to a Federal High Court as part of ongoing efforts to appropriately remedy the situation.

As the matter awaits the resolution of the Federal High Court in Abuja, Seplat has assured stakeholders that it remains committed to maintaining the highest standards of corporate governance across every aspect of its business.

The backstory

Orjiako, who co-founded Seplat Energy with former CEO Austin Avuru, retired as the Board Chairman back in May 2022.

As Nairametrics reported at the time of his retirement, he was in discussion with the board on ways he could continue to actively support Seplat Energy with specific and important external stakeholder engagements, which was part of his job as the Chairman.

That discussion resulted in the consultancy arrangement which obliged him to provide defined assistance to certain external stakeholders. Now, that arrangement has been terminated.

What you should know about Seplat’s recent controversies

Seplat Energy has recently been involved in some scandals, including the recent one involving its Chief Executive Officer Roger Brown. As Nairametrics reported, some accusations were levelled against Mr Brown, including an accusation of racism. Also, his work and residency permits were revoked by Nigeria’s Ministry of Interior. 

These accusations were, of course, refuted. But ultimately, he was forced to temporarily step down from his position as CEO following an injunction by the court which restrained him from acting in that capacity pending the outcome of a lawsuit by some aggrieved stakeholders.


Follow us for Breaking News and Market Intelligence.
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

Related Posts

TikTok
Sectors

TikTok removes over 3.6 million Nigerian videos in Q1 2025  

July 15, 2025
Superman opens with N133.7 million ticket sales at Nigerian box office
Business News

Superman opens with N133.7 million ticket sales at Nigerian box office

July 15, 2025
polio immunization
Health

WHO, UNICEF warn of rising immunization gaps as nearly 20 million infants missed vaccination in 2024 

July 15, 2025
CAC to increase services fees from August 15, cites economic realities  
Legal & Regulations

CAC flags three cooperative societies for using fake incorporation certificates in Nigeria 

July 15, 2025
‘My Mother Is A Witch’ crosses N100 million at Nigerian box office 
Business News

‘My Mother Is A Witch’ crosses N100 million at Nigerian box office 

July 15, 2025
Payaza’s triple credit rating: A milestone for Nigerian fintech leadership 
Companies

Payaza’s triple credit rating: A milestone for Nigerian fintech leadership 

July 15, 2025
Next Post
Old and new one thousand naira notes.

Gainers and losers of CBN’s cash swap, naira redesign policy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • TikTok removes over 3.6 million Nigerian videos in Q1 2025  
  • Superman opens with N133.7 million ticket sales at Nigerian box office
  • WHO, UNICEF warn of rising immunization gaps as nearly 20 million infants missed vaccination in 2024 

Follow us on social media:

Recent News

TikTok

TikTok removes over 3.6 million Nigerian videos in Q1 2025  

July 15, 2025
Superman opens with N133.7 million ticket sales at Nigerian box office

Superman opens with N133.7 million ticket sales at Nigerian box office

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics