Seplat Energy replaces Avuru and Orjiakor on its board of directors

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Seplat Energy has announced the replacement of its former CEO, Austin Avuru, on the company’s board of directors.

Avuru co-founded the oil and gas company with ABC Orjiako.

Seplat ordered Avuru to resign from the board in December 2021 after accusing him of violating company policies.

The company then asked an investment vehicle, Platform Petroleum Limited (PPL), to replace Avuru, whose investment in the company is through PPL.

The proposed replacement was PPL Commercial Executive Director Kazeem Raimi.

According to a statement sent Friday to the Nigerian Exchange Limited (NGX), Raimi will resume his duties as a non-executive director on the board of directors of Seplat on May 18.

READ ALSO: Seplat Energy in bid to acquire ExxonMobil asset amid N15.41 billion loss

He will be joined by Bashirat Odunewu and Ernest Ebi on the company’s board.

Ebi was appointed to replace Orjiako on the board, as the latter is expected to step down on May 18.

Ebi is the agent of Shebah Petroleum Development Company Limited (BVI) also owned by Orjiako.

Orjiako’s exit as chairman of Seplat from Seplat followed allegations that the billionaire had profited financially from the Oil Exploration License (OPL) 245 scam.

Odunewu has around 30 years of banking experience and is currently an independent non-executive director on the boards of Leadway Holdings, First Bank and Neimeth International Pharmaceuticals Plc.

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