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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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Seplat Plans To Counter Interim Orders Against Its Officers



By Favour & Akinola Ajibade


Seplat says its taking steps to counter interim Court Orders against its Officers. 

The Orders, which are yet to be served on the company or any of its affected officers aimed at restraining its  Board Chairman, the named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company.

The Company, has however,filed  an Appeal and a Motion for Stay of Execution of the Orders. 

According to the legal team of the Company,  which has  listings in two Exchanges -  London Stock Exchange and Nigerian Stock Exchange  (NSE),  the interim orders cannot be enforced until the Court of Appeal has heard and determined the Appeal and application for Stay of Execution.

This petition is a third in the series of duplicative petitions filed by purported minority shareholders between March and April 2023, as part of orchestrated attempts to damage the Company in response to its unrelenting efforts to improve corporate governance by eliminating related party transactions and implementing other corporate governance initiatives. The Company previously announced that:

  • The Federal High Court in Lagos, per Hon. Justice Aneke, in Moses Igbrude & 4 ors V. Seplat Energy & 2 ors, has vacated the ex parte Interim Orders that required the Company’s CEO to step aside.
  • The Federal High Court in Abuja, per Hon. Justice Ekwo, in Federal Republic of Nigeria V. Seplat Energy & 8 ors, formally dismissed the Immigration Charge against the Company and some of its Officers, and fully discharged all named Officers. This discharge followed the Notice of Withdrawal/Discharge filed by the Director Legal of the Nigeria Immigration Service and the Company’s cooperation with the immigration authorities.
  • The Federal High Court in Abuja, per Hon. Justice Ekwo, in Boniface Okezie & 4 ors. V. Seplat Energy & 9 ors, refused to grant to the Petitioners’ request to grant ex parte Interim Orders restraining the Company from holding its AGM.




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