By Henry Akubuiro, Lagos
Austin Avuru has responded to the purported termination of his appointment as a Non-Executive Director on the board of Seplat Energy, a company he co-founded and was the pioneer CEO.
The widely circulated statement published a few days to Christmas in which Seplat Energy alleged that its immediate past CEO had breached the company’s “corporate governance policies and his fiduciary duties”, sent shock waves across the global oil and gas industry where Avuru is seen as a highly respected professional and one of the more cerebral and intellectual oil men in the business.
Responding to the statement, Avuru, via his lawyers at Perchstone and Graeys, described the publication and announcement as “grossly mischievous” and intended to malign and do “incalculable damage to his hard-earned reputation.”
Avuru, who took Seplat public in a historic 2014 dual listing on the London and Nigerian Stock Exchanges, advised the general public “to discountenance Seplat Energy’s publication of December 23, 2021” while his lawyers respond “to the fictitious allegations.”
Seplat Energy has been in the eye of the storm for months now with several Nigerian banks tackling its embattled chairman over unpaid loans.