he company had also aggravated the crisis.A civil society organisation, Make a Difference Initiative has called for drastic reforms at the Seplat Energy PLC, noting that “mischief, deception, fragrant breach of corporate governance standards” are the root causes of the prevailing crisis rocking the company.
The organisation equally criticised what it described a U-turn by another director, Prof. Fabian Ajogwu, who initially reportedly resigned but whom the board announced would now retire in October 2023. “It is noteworthy that having done his maximum of nine year, Omiyi was only elected as an interim Chairman for one year in May 2022 to oversee the transition from the era of the co-founder and Pioneer Chairman Dr. ABC Orjiako and the search for Orjiako’s replacement. But he has refused to despite a 30th January 2023 letter by institutional shareholders of Seplat demanding them to retire, having overstayed their tenures by one year each.