Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Lagos-Based Lawyer, Gabriel Uduafi Raises Alarm Over Attack On His Edo Home
    • 44-Year-Old Wasiu Akinwande: Lagos Police Arrest Mushin’s Alleged Most Wanted Notorious, Vicious Killer
    • Oto Edet: Jailed For Life For Having Sex With Neighbour’s 9-Year-Old Daughter
    • Alleged Sexual Offence, Reprieve As Court Discharges Guardian 6 Years Later
    • 800 Grams Of Tramadol: Man Sentenced To 2 Years Imprisonment For Attempting To Export
    • Bricklayer Bags Life Imprisonment For Having Sex With 8-Year-Old Neighbour’s Daughter
    • EFCC Scandal: SunTrust Bank Executives Face $12M Alleged Laundering Charge Now
    • NAJUC Ikeja Elects New Executive Officers, Pledges Transparent Leadership
    • Home
    • About Us
    • Contact us
    Casefile NigeriaCasefile Nigeria
    Subscribe
    Sunday, June 22
    • Home
    • Human Rights
    • Politics
    • The Judiciary
      • From The Court
    • Health
    • Sport
    • Opinion
    • Entertainment
    Home»Top Stories

    Court Of Appeal Suspends Interim Court Order Against Seplat

    Funke BusariBy Funke BusariMay 15, 2023 Top Stories No Comments4 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Abuja division of Appeal Court, today, granted an ex-parte application filed by Seplat Energy seeking to suspend the ruling of Justice Inyang Ekwo of an Abuja division of the Federal High Court, which suspended the company’s Chief Executive Officer (CEO) Mr. Roger Brown and others. 

    By this ruling the Appellate court has restored the affected Seplat officers to their positions.

    Justice Ekwo, in suit number FHC/ABJ/CS/626/2023, had made an ex-parte order, suspended the company’s Chief Executive Officer, Mr. Brown, and company’s Board Chairman, Mr. Basil Omiyi, pending the determination of the Motion on Notice for Interlocutory Injunction filed by some aggrieved shareholders of the company.

    Dissatisfied with Justice Ekwo’s ruling, Seplat Energy on May 15, 2023 by its team of lawyers led my Mr. D.D Dodo, (SAN); Bode Olanipekun (SAN) and Audu Anuga (SAN) urged the Appellate court to suspend the interim Ex-parte orders.

    The Appellant in its further affidavit In Support of the Motion to stay execution of the orders, deposed to by Adoga Moses, a Litigation Clerk, in the employment of Wole Olanipekun & Co., stated that out of 588,444,561 issued shares of the appellant/applicant, the plaintiffs at the lower court have cumulative shares of 131 units.

    He noted that the first plaintiff has 100 units of shares whilst the 2nd and 3rd plaintiffs have 31 and 30 units respectively.

    According to the deponent ‘’the cumulative percentage shareholding of the plaintiffs who have obtained disruptive orders against the applicant amounts to 0.00002736 percent.

    ‘’The action of the plaintiffs and the orders granted by the lower court have the implication of diminishing the share value of the applicant, who has dual listings on the Nigerian and London Stock exchanges as well as cause panic in the capital market and reduce investor confidence.

    Even before the orders of the lower court were served, same had been given wide publicity across various news outlets. Now shown to me, attached hereto and marked as Exhibits 10, 11 and 12 are copies of news reports with global reach relating to the orders of ex parte injunction granted by the lower court.

    ‘’The applicant is at the risk of irreparable damage to its brand, business, investor equity, contractual and statutory obligations if the orders sought are not granted.

    ‘’It is in the interest of justice to grant this application and the balance of convenience tilts in favour of the applicant”.

    Ruling on the application the Appellate Court comprising Justices Muhammad Mustapha, (Presided), Justice J.G. Abundaga, and Justice D.Z. Senchi, suspended the enforcement of the Ex-parte orders granted by Justice Ekwo, pending the hearing and determination of the motion on notice dated May 12, 2023 and or pending further directives of the court.

    The Court has consequently adjourned the matter to May 30, 2023 for hearing of the Seplat Energy’s Motion on Notice.

    A statement from Seplat Energy reiterated that as “previously announced, the Interim Orders were made pursuant to a petition which was the third in a series of duplicative petitions filed by minority shareholders between March and April 2023. The Interim Orders primarily restrained the Board Chairman, named Independent Non-Executive Directors, the Chief Operating Officer, and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company, and directed the Securities & Exchange Commission to appoint suitable persons to run the affairs of the Company”.

    The statement signed by the Chairman, Mr. Basil Omiyi, reads: “Seplat Energy remains confident that the courts will appropriately address the frivolous litigations brought by a combination of 13 minority shareholders holding less than 800 shares out of 589 million shares (or 0.0001% of the Company’s issued shares). It added that “The Company, as a law-abiding entity, has defended itself against the Interim Orders by immediately filing an Appeal and a Motion for Stay of Execution of the Orders”. Seplat is poised to diligently continue to defend against deliberate court actions and remains confident and hopeful that the courts will appropriately address unending litigations on it.

    Seplat Energy Plc is Nigeria’s leading indigenous energy company. It is listed on the Nigerian Exchange Limited and the Main Market of the London Stock Exchange. Seplat Energy is pursuing a Nigeria-focused growth strategy through participation in asset divestments by international oil companies, farm-in opportunities, and future licensing rounds. The Company is a leading supplier of gas to the domestic power generation market.

    Court Of Appeal Grants Seplat Energy’s Ex-parte Application
    Bode Olanipekun Court of Appeal D.D Dodo Justice D.Z. Senchi Justice Inyang Ekwo Justice J.G. Abundaga Justices Muhammad Mustapha London Stock Exchange Mr. Basil Omiyi Mr. Roger Brown Mr. Roger Thompson Brown Nigerian Exchange Limited Securities and Exchange Commission Seplat Energy Seplat Energy Plc Wole Olanipekun
    Funke Busari

    Keep Reading

    44-Year-Old Wasiu Akinwande: Lagos Police Arrest Mushin’s Alleged Most Wanted Notorious, Vicious Killer

    Oto Edet: Jailed For Life For Having Sex With Neighbour’s 9-Year-Old Daughter

    Alleged Sexual Offence, Reprieve As Court Discharges Guardian 6 Years Later

    800 Grams Of Tramadol: Man Sentenced To 2 Years Imprisonment For Attempting To Export

    Bricklayer Bags Life Imprisonment For Having Sex With 8-Year-Old Neighbour’s Daughter

    EFCC Scandal: SunTrust Bank Executives Face $12M Alleged Laundering Charge Now

    Add A Comment
    Leave A Reply Cancel Reply

    • EDITORS PICKS

    Lagos-Based Lawyer, Gabriel Uduafi Raises Alarm Over Attack On His Edo Home

    June 21, 2025

    44-Year-Old Wasiu Akinwande: Lagos Police Arrest Mushin’s Alleged Most Wanted Notorious, Vicious Killer

    June 21, 2025

    Oto Edet: Jailed For Life For Having Sex With Neighbour’s 9-Year-Old Daughter

    June 17, 2025

    800 Grams Of Tramadol: Man Sentenced To 2 Years Imprisonment For Attempting To Export

    June 16, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    EPOST

    44-Year-Old Wasiu Akinwande: Lagos Police Arrest Mushin’s Alleged Most Wanted Notorious, Vicious Killer

    June 21, 2025

    Oto Edet: Jailed For Life For Having Sex With Neighbour’s 9-Year-Old Daughter

    June 17, 2025

    Alleged Sexual Offence, Reprieve As Court Discharges Guardian 6 Years Later

    June 17, 2025

    Type above and press Enter to search. Press Esc to cancel.