JUST IN: More Trouble For Embattled Seplat CEO, Brown As Court Refrains Him From Running Company Over Racism Allegation

Barely 24 hours after Seplat Energy Plc relocated its Chief Executive Officer, Roger Brown to lead the company from London, a Federal High Court in Lagos has stopped him from acting in the CEO capacity.

Seplat revealed on Friday in a notice obtained by THE WHISTLER that an ex-perte order has been granted by Justice C. J. Aneke of the Federal High Court, restraining Brown from participating in the running of the Company for a period of 7 days.

The injunction was filed by Messrs. Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye and Robert Ibekwe, who have shares in Seplat Energy Plc.

Seplat said the embattled CEO has appointed Samson Ezugworie, Chief Operating Officer, to act as CEO pending the timeframe.

On Thursday, Seplat had said the oil firm has cast a vote of confidence on the CEO amidst allegations of racism and favouring foreign workers over Nigerians.

The company however moved him to the UK office and insisted that Brown will remain Seplat CEO and exercise his duties from London.

Brown’s problem began when some aggrieved stakeholders petitioned the Ministry of Interior accusing the Seplat CEO of racism. The ministry also found Brown guilty of flouting Nigerian immigration laws.

THE WHISTLER understands that some of the allegations include that the “CEO organised a site visit for a number of its major shareholders to the Company’s operations, canceled some catering and landscaping contracts, and introduced a new job performance rating.”

But the company in the fresh regulatory filing refuted the allegations and noted that since Brown became CEO in 2020, Nigerian nationals have been appointed to the company’s most important positions, including Chairman, Senior Independent Non Executive Director, Chief Financial Officer and Chief Operating officer.

Seplat said, “The Board believes these allegations are a spurious and vindictive reaction to the Board’s enforcement of corporate governance standards and a determination to continue to uphold their fiduciary duties and loyalty to the Company. The Board of Seplat Energy has unanimously passed a vote of confidence in Mr Brown as the CEO.

“The Order allows the Chairman, Mr. Basil Omiyi, and all the INEDs of Seplat Energy to continue running the affairs of the Company on the basis that it is in accordance with Nigerian law. Mr. Brown has delegated authority to Mr. Samson Ezugworie, Chief Operating Officer, to act as CEO during the period that he is required to step back from his executive duties.

“Seplat will follow the due processes of law in responding to the allegations before the courts. At the same time, the Company will continue to maintain its operational excellence and act in line with the best corporate governance standards.”