Seplat’s director Fabian Ajogwu resigns as company’s woes continue

Seplat Petroleum

Prof Fabian Ajogwu (SAN) has resigned from his position as an independent non-executive director on the board of Seplat Plc.

Chairman of the board Basil Omiyi made this known in a corporate notice filed on the Nigerian Exchange Limited on Tuesday.

The company disclosed that Ajogwu will step down from the board on October 21, 2023.

“Prof. Ajogwu resigned from the Board citing recent events and deliberate external interferences which have prevented him from effectively discharging his fiduciary and statutory duties as an Independent Non-Executive Director to the highest standards of corporate governance he has written and subscribed to.

“He has confirmed in writing his support for the steps the company is taking to strengthen governance. He has also made known his dismay over the actions of those who have tried to damage Seplat Energy and derail its efforts to improve corporate governance,” part of the corporate notice read.

The company has been in the news in recent weeks over racism allegations levelled against its CEO Roger Brown.

Last Thursday, Seplat Energy announced the discontinuation of the immigration case against the company, some of its directors and officers, and focus on engagements with the minister of interior to bring closure to all outstanding issues.

The company said it would embark immediately on a recruitment process to run a search for the next Seplat Energy chairman as Omiyi and senior independent non-executive director, Charles Okeahalam, will both retire from the board before May 2024 annual general meeting.