News
$19.4m Legal Fees: Stakeholders, CSOs ask Tinubu to order the probe of SEPLAT CEO, Board
The Independent Shareholders
Association of Nigeria (ISAN) and a human rights and good governance advocacy group under the aegis of Make A Difference Initiative (MADI) have urged President Bola Tinubu to direct relevant agencies to investigate the perpetual breach of corporate governance codes by SEPLAT CEO.
Allegations of racism, favouritism of foreign workers against Nigerian employees have earlier been levelled against the CEO of Seplat Energy PLC, Roger Brown, by employees of the company for which MADI had demanded a definite prosecution of Mr. Brown and even the Board of Seplat Energy Plc over connivance and conspiracy to flout the country’s immigration laws.
Addressing a Press conference in Abuja on Sunday, National Coordinator of ISAN Comrade Moses Igbrude urged President Tinubu to save Seplat and the investments of Nigerians and international investors from going down the drains by directing the Financial Reporting Council of Nigeria (FRC) and Security and Exchange Commission (SEC) to do their jobs by taking disciplinary actions and carrying out a thorough investigation into the perpetual breach of corporate governance codes.
He also demanded “the immediate resignation or removal of SEPLAT CEO, Roger Brown, and Independent Non-Executive Directors to ensure an unimpeded investigation into the rot in Seplat before it is too late”.
“As we speak now, the Corporate Affairs Commission (CAC) does not recognise the resolutions passed during the controversial May 10 AGM, yet they are operating as if everything is normal.
“We also urge the President to institute a probe panel composed of the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and other relevant bodies to investigate the circumstances surrounding the so-called N16bn legal fees and other related matters in Seplat Energy PLC.
“We want to know how much of the senseless N16bn professional legal fees was actually paid to lawyers handling the cases.”
According to Comrade Igbrude, Nigerians and investing public deserve to know who the lawyers are and how much was paid to each lawyer or law firms.
“Did those lawyers in any way serve as conduits for any unholy compromises in the legal tussles that resulted in the questionable court injunctions and vacation of court orders in favour of Seplat? “For instance, the Federal High Court injunction in Suit No. FHC/ABJ/CS/726/2023 was discharged on Motion Ex-parte by the Court of Appeal in less than 48 hours of filling by Seplat without giving the Respondent the opportunity to respond.
“What informed the sudden withdrawal of criminal charges (FHC/AB/CR/149/2023) instituted against Seplat CEO, Roger Brown and the INEDs as well as the restoration of Roger Brown’s visa, work, and resident permit by the Nigerian Immigration Service and Ministry of Interior without any explanation to the public or the endangered Nigerian employees in Seplat whose petition led to the investigation in the first place?
“Why were such important decisions hurriedly and surreptitiously taken immediately the Minister left office at the end of the previous administration?
“Equally worthy of investigation is the silence, inaction, and any complicity of the FRCN, SEC, etc. in the face of the serial breaches of the Nigerian Code of Corporate Governance (NCCG) by the Mr Basil Omiyi-led Seplat Board.
“For instance, Omiyi and Dr. Charles Okeahalam have stayed over 10 years as INEDs on Seplat Board, way beyond the maximum of nine years prescribed by the NCCG to refresh Boards and minimise threats to Board independence.
“Also, SEC is well aware of the infringements on statutory Audit Committee of Seplat such as Omiyi’s written order directing the Committee not to investigate breach of codes of corporate governance, and the forcing out of the Committee Chairman and a member by a controversial AGM and lawsuit.
“While the FRCN and CAC have responded to our petitions assuring action and investigation into the matter, SEC, unfortunately, has continued to look the other way.”
News
Obidient Movement Denounces Fake Social Media Posts Targeting Senator Datti-Baba Ahmed
The Obidient Movement, led by Dr. Yunusa Tanko, has issued a press statement condemning the circulation of false social media posts attributed to Senator Datti-Baba Ahmed. The fabricated posts, which have gone viral, are described as part of a deliberate smear campaign aimed at damaging the Senator’s reputation.
The movement clarified that Senator Datti-Baba Ahmed does not operate any social media accounts, making all attributed posts entirely baseless. During a recent press conference, the Senator unequivocally dissociated himself from these claims and urged the public to disregard them.
“This is a targeted attempt to tarnish the Senator’s image and credibility,” Dr. Tanko stated.
The Obidient Movement has called on its supporters and the public to remain vigilant and proactive in addressing the issue. They urged people to ignore, counter, and report the false posts whenever they appear.
The statement concluded with an appeal for continued support and collaboration in combating misinformation, reinforcing the movement’s commitment to truth and integrity.
News
Senate Approves President Tinubu’s N1.767 Trillion Loan Request
The Senate has granted approval for a $2.09 billion (N1.767 trillion) loan requested by President Bola Tinubu to address the N9.7 trillion deficit in the N28.7 trillion 2024 budget. The decision was made during Thursday’s plenary, just 48 hours after the request was submitted to the National Assembly.
President Tinubu, in letters to both chambers of the legislature earlier this week, highlighted the importance of the loan for financing key projects and programs critical to national development.
Following the request, the Senate assigned its Committee on Local and Foreign Debts, led by Senator Aliyu Wammako (APC, Sokoto North), to review the proposal. Presenting the committee’s report, Senator Wammako described the loan as vital for implementing the Debt Management Strategy, reducing borrowing costs, extending debt maturity, and bolstering Nigeria’s external reserves.
The committee recommended raising the loan through Eurobonds or similar international financing instruments, subject to market conditions. It also suggested that any excess funds from exchange rate adjustments be directed toward capital projects in 2024 to support infrastructure and economic growth.
The Senate approved the loan unanimously, with no objections raised during deliberations. Deputy Senate President Jibrin Barau, who presided over the session, commended the Wammako-led committee for its swift and thorough handling of the proposal.
This loan approval is part of the government’s broader strategy to bridge fiscal gaps while focusing on developmental priorities and economic stability.
News
Finland Detains Pro-Biafra Agitator Simon Ekpa on Terrorism Charges
Simon Ekpa, a Finland-based pro-Biafra agitator, has been arrested and detained by the Päijät-Häme District Court in Finland on charges of inciting public crimes with terrorist intent.
The alleged offence reportedly occurred in Lahti on August 23, 2021. Finnish authorities apprehended Ekpa on Monday, November 19, marking another chapter in his history of legal confrontations.
A source confirmed Ekpa’s arrest, noting, “He was arrested three days ago. But this is not the first time. He will likely be questioned and released soon.” Ekpa was previously detained in 2023 on suspicion of fundraising fraud but was released the same evening.
The Finnish National Bureau of Investigation (NBI) has also requested the detention of four additional suspects in connection with terrorism-related charges.
Ekpa has gained notoriety for his leadership of a Nigerian separatist group advocating for an independent Biafran state in southeastern Nigeria. Finnish authorities allege that he used social media platforms to coordinate actions that resulted in violence against civilians and authorities in Nigeria.
Detective Chief Inspector Otto Hiltunen of the NBI stated that the investigation focuses on a Finnish citizen of Nigerian descent, born in the 1980s, suspected of public incitement to crimes with terrorist intent.
Meanwhile, the Nigerian government has continued to engage the Finnish government through the European Union (EU) to extradite Ekpa. In August, Nigeria’s Defence Headquarters emphasized the dual approach of diplomatic engagement and sustained military operations against the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN).
Director of Defence Media Operations, Major General Edward Buba, reiterated the government’s resolve, saying, “The FG would respond appropriately to the Finnish Government through the EU. On the part of the military, troops would sustain operations against IPOB/ESN.”
Ekpa, who has represented Finland’s National Coalition Party (NCP) in local government, currently serves on Lahti’s public transport committee. Finnish authorities continue to investigate his activities, emphasizing the potential connection between his leadership role in the separatist movement and violent actions in Nigeria.
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