WorldStage Newsonine– Seplat Petroleum Development Company Plc, a leading indigenous Nigerian energy company with a strategic focus on Nigeria has threatened to seek all appropriate legal remedies against Access Bank over the latter sealing of building at 16A Temple Road, Ikoyi, Lagos in which its Corporate Headquarters is located.
Seplat in a notification at the Nigerian Stock Exchange said the building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited, a third party providing drilling services to it.
“We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, Seplat 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,” Seplat said
Seplat added that it strongly believed that there was no merit or justification for this action against it and had taken prompt legal action to vacate the court order pursuant to which the building was sealed.
“This action was taken by Access Bank without any prior notice to Seplat, as required under Nigerian law,” it said.
“Seplat will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies.”
