On April 6, 2023, the Nigeria Immigration Service (NIS), acting on behalf of the Federal Government of Nigeria, withdrew the criminal complaint that had been brought against Seplat Energy Plc and its Board at the Federal High Court in Abuja the same day, Entrepreneurng report.
Ironically, the withdrawal or abandonment of the accusations remained unknown despite the publicity given to the filing of the criminal charges against the corporation and its Board. Oddly, only the charges were announced, with no mention of the fact that they were soon dropped.
Analysts are forced to ponder the rationale behind the filing and withdrawal of the misguided charge. Was there a reason for it? Was the Board intended to be intimidated? It’s unclear.
What is obvious is that the allegation had several contradictions. It was claimed, on the one hand, that its Chief Executive Officer was working without a permit. On the other hand, it was claimed that the Chief Executive Officer was encouraged by the Board to accept a job without a work permit. If the Nigeria Immigration Service did not award the work permit, may it be revoked?
The Chief Executive Officer allegedly accepted a job without a work permit on March 3, 2023, according to allegations made by Nigeria Immigration Service. while everyone in the sector was aware that he had a work visa since 2013. He has been traveling since his work permit was revoked by the law and because he believes in due process of law.
When he wasn’t in Nigeria to perform his job or his duties as the Chief Executive Officer, how could it be alleged that he was working against the law? The Nigeria Immigration Service has made several blatant inconsistencies in the baseless accusations of individuals who are allegedly unidentified third parties.
Interestingly, a Notice of Withdrawal or Discontinuance of the Charge was filed on April 6, 2023, the same day the charge was filed in court. This suggests that the defendants have not yet been served with the complaint.
Given that the Chief Executive Officer was appointed as Chief Executive in August 2020 and had previously served as Chief Financial Officer since July 2013, it is improbable that the charge was withdrawn as a result of what some have referred to as the contradictions in the charge filed by a Federal Government Agency, the Nigerian Immigration Service.
March 2023 saw the revocation of his immigration papers, more than 30 months after he is appointed CEO and almost nine years and nine months after he is appointed CFO.
According to some unnamed sources, the criminal charge is yet another example of unidentified forces deceiving a federal government agency to obstruct legal operations, destroy shareholder investments, harass law-abiding citizens of the Federal Republic of Nigeria, and intimidate Seplat and its board for acting morally.
In conclusion, the shares of Seplat Energy Plc have dropped significantly since it was announced that the Chief Executive Officer’s immigration documents had been revoked. Various lawsuits against the company and the Board have also been filed in various courts in Lagos State and the Federal Capital Territory to thwart the smooth operation of the business.
