Seplat Threatens Legal Action Against Access Bank For Corporate Headquarters Shutdown

Seplat Petroleum Development Company has threatened to sue Access Bank Plc for sealing its corporate headquarters due to debt owed the bank by Cardinal Drilling Services Limited.

The tier- one lender had on December 2, 2020 sealed Seplat Petroleum headquarters located at 16A Temple Road, Ikoyi, Lagos.

But in a statement released by Septlat and seen by THE WHISTLER, the company denied any involvement in the disputing loan obligation by the Cardinal Drilling.

The oil and gas company said, “Cardinal Drilling is a third party providing drilling services to Seplat.

“We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, Seplat is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank and did not at any time make any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank.

“Seplat strongly believes that there is no merit or justification for this action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed. This action was taken by Access Bank without any prior notice to Seplat, as required under Nigerian law.

“Seplat will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies.”