Orjiako to Seplat: I Acted within My Authorised Scope in Company’s Best Interest

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Bennett  Oghifo

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 billion Mobil transaction, saying he acted within the scope of his mandate for the benefit of the company.

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.

Orjiako, in a clarification in Abuja yesterday, done on his behalf his legal adviser, Senator Ikechukwu Obiorah, stressed that the company was already benefitting from the values created by the letter to the presidency.

Dr. Orjiako also said he had…



Source: Thisday Newspaper