The head office of Seplat Petroleum Development Company (SPDC) has remained shut, a full week after it was sealed off on the back of a court order instituted by Access Bank Plc.
According to reliable sources, both parties appeared in court during the week, with Seplat seeking the court’s approval to vacate court orders. However, we understand their bid was unsuccessful, meaning that the company’s headquarters might remain closed during the Christmas season.
Sources from Seplat and Access Bank respectively confirmed that they met in court during the week and that the case was adjourned till Monday December 14, 2020.
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Seplat informed the Nigerian Stock Exchange last week that it would fight to overturn the court injunction obtained by Seplat to seal off its offices, claiming that Access Bank had no proof that it guaranteed the loan on behalf of Cardinal Drilling Services.
Dr. Chioma Nwachuku, GM, Ext Affairs & Communications, told journalists that Seplat never guaranteed the facility.
She said, “There should be a document to back such claim. We await the proof of such guarantee.”
Access Bank, however, claims that Seplat is a related party, insinuating that ABC Orjiakor, Chairman of Seplat, obtained the loan from Diamond Bank, using Cardinal Drilling Services as a smokescreen, as Seplat was to be the ultimate beneficiary of the service.
