Management of Seplat Petroleum ,has commenced a legal process to retake possession of its Corporate Headquarters at 16A Temple Road, Ikoyi, Lagos,s
The building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited a third party firm providing drilling services to Seplat.
According to Seplat, Cardinal Drilling has outstanding loan obligations to Access Bank, but that it 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.
In a statement, Seplat says it strongly believes that there is no merit or justification for the action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed.
Seplat noted that Access Bank took the action without any prior notice to rhe company 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” the statement added.